YES BANK Zagg Review 2026: Lifetime Free Now — but Older Cards Still Pay ₹399
YES Zagg is lifetime free for cards issued from 10 January 2025. Cards issued before that date still carry a ₹399 annual fee. YES publishes no earn rate. Full review and FAQs.
YES BANK's Zagg card is lifetime free — but only if you got it recently.
YES publishes no per-rupee earn rate for it at all.
YES BANK Zagg Credit Card Quick Overview
| **Card type** | Entry lifetime-free card |
|---|---|
| **Best for** | Someone who wants a free YES card and will check the terms |
| **Joining / renewal fee** | Nil, same on renewal |
| **Network** | Visa |
| **Base reward rate** | **Not published by the issuer** |
| **Reward currency** | YES Rewardz Points, valued at ₹0.25 each |
| **Lounge access** | None published |
| **Forex markup** | 3.5% |
Reward Structure: How You Earn
YES BANK publishes no per-rupee earn rate for Zagg on its product page. The underlying data records the rate as unknown rather than zero, and flags it, so an automated comparison excludes the card rather than ranking it last on a figure never established.
| Spend | Effective rate |
|---|---|
| Everything else | 0.0% |
| Fuel, rent, wallet loads, government, gaming | **0%** |
The fee depends on when you got the card
YES BANK's MITC carries a footnote that matters:
| Card issued | Annual fee |
|---|---|
| **From 10 January 2025** | **Nil** |
| Before 10 January 2025 | ₹399 + GST, waived on annual spend |
This review records the current position — nil on both fees. A longer-standing Zagg holder may still be on the older terms, and should check a recent statement rather than assume.
Two things changed on 15 June 2026
Reward points stopped being awarded on rental, wallet, fuel, government and marketing or advertising transactions, on cash withdrawals, and on Post Purchase EMI and Instant EMI.
The foreign currency markup rose on most of the range. Reserv and the YES First family went from 1.75% to 2.00%; Elite+, YES Essence and YES Prosperity Business to 3.00%; and Select, ACE, the Virtual RuPay card and Klick from 2.75% to 3.50% — a 0.75-point jump, the largest in the range.
Only YES Private, Marquee, FREO and the BYOC/EMI/Wellness/Zagg group were unchanged. Anyone reading a YES BANK review written before June 2026 is looking at both a wider earning base and a cheaper foreign markup than exist now.
A separate 1% dynamic currency conversion charge catches people out. If an international transaction is billed to you in rupees — at a foreign point of sale, or at an overseas merchant selling in INR — YES levies 1% plus GST on top of the markup above. Choosing to be charged in rupees abroad costs more, not less.
Category Restrictions: Where You Won't Earn
- Where you earn nothing: FROM 15 JUNE 2026 YES BANK AWARDS NO REWARD POINTS on rental, wallet load, fuel, government, and marketing or advertising transactions, nor on cash withdrawals, Post Purchase EMI or Instant EMI. Separately, YES publishes a 'Select categories' MCC list — utilities (4899, 4900), insurance (6300, 6381) and education (8211, 8220, 8241, 8244, 8249, 8299) — which earn the card's LOWEST band rather than nothing.
- Point expiry: 36 months from the date of earning, per YES BANK's Credit Card Redemption Rules. A minimum of 2,000 Reward Points is required before anything can be redeemed.
- Redemption fee: ₹100 per redemption.
Fees and Charges
| Charge | Amount |
|---|---|
| Joining fee | Nil |
| Renewal fee | Nil |
| Finance charges | 3.99% per month (47.88% per annum) on revolving credit, cash advances and overdue amounts. |
| Cash advance fee | 2.5% of the amount withdrawn. Not applicable to any Virtual Credit Card. |
| Cash advance interest | 3.99% per month, charged from the date of withdrawal with no interest-free period. |
| Forex markup | Set per card variant and RAISED ON MOST OF THE RANGE ON 15 JUNE 2026: YES Private 0.50%; Marquee 1.00%; Reserv and the YES First family 2.00% (from 1.75%); YES Prosperity Business, Elite+ and YES Essence 3.00%; Select, ACE, Virtual RuPay and Klick 3.50% (from 2.75%); FREO 3.40%; BYOC, EMI Card, Wellness, Wellness Plus, Zagg and Novio 3.50%. NOT APPLICABLE AT ALL to Uni, Uni RuPay Virtual, AI Inside and NIYO. |
| Dynamic currency conversion | 1% plus GST, charged IN ADDITION where an international transaction is billed in INR — at an overseas point of sale or at a merchant registered abroad selling in rupees. Not applicable to Uni, Uni RuPay Virtual, AI Inside or NIYO. |
| Fuel transactions | A fuel surcharge of 1% to 2.5% plus GST may be levied by the acquirer and is payable by the cardholder. Most YES cards carry a 1% surcharge waiver; note separately that fuel has earned NO reward points since 15 June 2026. |
| Reward redemption | NIL on YES Private. ₹100 + GST per redemption request on Marquee, Reserv and every other variant. A convenience fee of ₹99 + GST applies to flight bookings on top. |
| GST | 18% on all fees, interest and charges. |
Is the YES BANK Zagg Credit Card Worth It?
Lifetime free with an unknown earn rate is hard to argue against but also hard to argue for. It costs nothing; what it returns is not published.
Get the reward terms from YES BANK directly if rewards matter to your choice.
The foreign currency markup is 3.5%, YES BANK's top band.
Frequently Asked Questions (FAQs)
Is the YES Zagg card free? For cards issued from 10 January 2025, yes — nil joining fee and nil annual fee. Cards issued before that date carry a ₹399 plus GST annual fee, waived on annual spend.
What does YES Zagg earn? YES BANK does not publish a per-rupee earn rate for Zagg in the material reviewed here.
What is a YES Rewardz Point worth? Between ₹0.10 and ₹0.25 depending on how you redeem. Flight and hotel bookings pay ₹0.25 — the maximum on every variant — while statement credit pays ₹0.10. E-gift vouchers pay ₹0.15 on YES Private and Marquee, ₹0.10 elsewhere.
Is there a fee to redeem YES BANK reward points? ₹100 plus GST per redemption request on every card except YES Private, where it is nil. A further ₹99 plus GST convenience fee applies to flight bookings. A minimum of 2,000 points is required for any redemption, and points expire after 36 months.
What does not earn reward points on YES BANK cards? Since 15 June 2026: rental, wallet, fuel, government and marketing or advertising transactions, cash withdrawals, and Post Purchase EMI and Instant EMI. Utilities, insurance and education fall into YES's 'Select categories' and earn the card's lowest band rather than nothing.
Cards Mentioned in This Article
