INDRewards FAQs

INDRewards FAQs

Last updated: 16 Sep, 2021 | 06:46 am

INDRewards FAQs

Everything you need to know about the IND Rewards program at a single place

1. How do I earn the US Stock Rewards as part of the IND Rewards program?

You can earn the US Stock Rewards for:

  • Good financial actions like:
    • Auto-tracking your investments
    • Auto-tracking your credit information
    • Investing in US stocks on the platform
    • Your invested stocks reaching a 52-week high and many more
  • Credit Card spends
    • Turn your spending habits into investments
    • Earn free stocks of your favorite US stocks by spending on them
  • Gifting your friends
    • Introduce INDmoney to your friends and family by gifting them US stocks
    • Once they join the platform as a new user, you and your friend are awarded free US stocks

2. What is a US Stock Reward?

As part of the IND Rewards program, you are awarded US stocks for FREE. You get to own the stocks of your favorite companies as a Reward.

You will be allotted fractional US stocks worth anywhere between Re 1 to Rs 1,000 as a Reward.

3. What can I do with my US Stock Reward?

You can follow the below steps:

  • Keep invested long-term in your favorite US stocks
  • When the time is ripe, you can choose to withdraw your stocks and encash it into your bank account

For example, you were awarded an Amazon stock worth Rs 200 in Sep-21. Amazon has published great financial year results and in Apr-22 when the value of your stock moves to Rs 500. You can choose to sell your stock and get the Rs 500 value in your bank account.

4. How can I withdraw my US Stock Rewards?

You can withdraw your rewards by selling your holdings. To sell a holding:

  • Go to your rewards dashboard
  • Click on the My Holdings tab
  • Select your holding and click on sell
  • Select the amount of holdings you want to sell
  • Confirm your sell order

Your money will be deposited into your account within 2 to 3 working days

5. How do I earn from my credit card spends?

Believe us when we say this, you'll be thrilled to hear how you would earn. 

With the IND Rewards program, you can turn your spends into investments by earning free stocks of your favorite brands. Earn up to 1% of your spends as FREE Stock Rewards.

You can earn US stocks on the following brands:

  • Amazon
  • Flipkart (Walmart stock rewarded)
  • Apple
  • Google (Alphabet stock rewarded)
  • Netflix
  • Uber
  • McDonald's
  • PayPal
  • Starbucks
  • MakeMyTrip

Example - Spend ₹10,000 on Amazon and get up to ₹100 Amazon US stock as a Reward for FREE

6. Are there any limits for US stock rewards on credit card spends?

Enable credit card statement tracking on the app and win US stocks worth upto 1% of your spends on top merchants for each unique statement every month

  • You will earn a maximum of ₹100 per credit card per month
  • You will earn a maximum of ₹100 per top merchant per month
  • You will earn a maximum of ₹200 per month

The values are subjected to change from time to time without any intimation to the user.

7. What are the good financial actions I can do on INDmoney for earning US Stock Rewards?

Our Rewards are hyper personalized to each and every user with an objective to enable everyone of them to:

  • Be better aware of their investments, liabilities, insurances and hence their net worth
  • Earn or Save more money from your money by AI-driven insights and recommendations

Few examples include:

  • Auto-tracking your investments
  • Auto-tracking your loans and credit cards
  • Adding a family member on INDmoney
  • Verifying your profile
  • Increasing your credit score
  • Lowering your home loan EMI
  • Diversification your investments by purchasing FDs

Note - The Rewards you are eligible for are displayed under the 'My Rewards' tab of the Rewards section. Rewards are continuously updated and added each and every week.

8. What are the benefits of IND Rewards?

  1. IND Rewards is the only program where you are rewarded for holding. Your rewards' value increases over time. Not just this, it is flexible to allow you to sell your reward holdings any time to redeem in cash.

9. I can see multiple types of reward cards. What are they?

  1. On INDmoney, you will get 2 major types of reward cards:
  • Open Card: You will earn open cards every time you perform a good financial action.
  • Gift Card: Every user receives giftable cards from INDmoney for FREE. INDmoney gives these cards to all users at its sole discretion.

10. What is a gift card? How can I claim it?

A gift card is akin to a referral reward card. You must gift them to your friends who are not on INDmoney. For every friend who joins to accept your gift, both of you will earn rewards!

11. How can I claim an open card?

You can claim an open card simply by swiping up on the card. Please note that you must have opened your FREE US stocks trading account to claim your virtual US stock rewards. Similarly, you must open your FREE crypto trading account in order to claim your crypto rewards.

12. Why are my reward cards locked?

Reward cards are given to you when you perform a good financial action to improve your financial well-being. Each locked reward card shows how to unlock it.

13. How do I track my reward earnings?

You can track all your reward holdings under the My Holdings tab on your rewards dashboard.

14. Do my reward cards expire?

As of 13-Sep-2021 your unclaimed reward cards expire 90 days after they're earned. You must claim your rewards within 90 days after they're earned.

15. Do my claimed virtual US stocks and cryptocurrencies expire?

No, as of 13-Sep-2021 your rewards holdings never expire.

16. What happened to my old INDcoins?

All users were notified to buy a cryptocurrency of their choosing using their INDcoins. For users who did not buy any cryptocurrency using their INDcoins, their INDCoins were expired.

Your previous holdings from the INDCoins program are carried forward to the new INDRewards program.
10 INDCoins=₹1

17. Would I be awarded a real US stock?

No. All the stocks awarded to you are virtual stocks in nature that follow the exact price trend of real US stocks.

Additionally, we are working tirelessly to enable us to award you with real US stocks very soon.

18. What is a virtual stock?

A virtual stock is just a virtual representation of the actual real-time value of a stock. It is not part of the real stock. A virtual stock, then, is essentially a method for calculating a value that is granted in the form of rewards.

19. What do fractional stocks mean?

You can trade in fractional units of virtual US stocks and cryptocurrencies. In fact, you can even trade 0.00000001 units (up to the eight decimal) of a US stock or cryptocurrency.

20. Can I trade in these virtual holdings outside INDmoney?

No, these virtual holdings can only be sold using the INDmoney platform.

21. How much can I redeem in a month?

You can Redeem into a maximum of ₹2,500 (in real money) per month in your bank account by selling your virtual US stocks and cryptocurrencies.

22. How much can I redeem in a year?

You can Redeem into a maximum of ₹15,000 (in real money) per year in your bank account by selling your virtual US stocks and cryptocurrencies.

By participating in the rewards program, you are agreeing to the terms and conditions of INDmoney, INDmoney's reward program, and other similar programs on the application. Click here to read the detailed terms and conditions.

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