Equitas Credit Cards Devaluation – Accident and Credit Shield Insurance Benefits Removed

Equitas Small Finance Bank has announced a revision to the benefits offered on its credit cards. According to the latest update, some complimentary insurance benefits will be discontinued starting 1 April 2026.

These changes will apply to several credit cards issued by the bank, including premium cards such as the Equitas PowerMiles Credit Card.

Complimentary Insurance Benefits to Be Removed

As per the update shared with cardholders, the following benefits will be discontinued from 1 April 2026:

Complimentary Air Accident Death Cover
Personal Accident Death Cover
Credit Shield Insurance

These benefits were earlier provided as complimentary protection features for cardholders.

What Remains Unchanged

Apart from the removal of these insurance benefits, all other aspects of the cards will remain the same.

This includes:

Existing credit card features
Annual fees and charges
Rewards and benefits
Other terms and conditions

According to Equitas Small Finance Bank, the revision is part of its effort to streamline its product offerings.

Impact on Cardholders

For most users, the removal of these insurance covers may not have a major impact. Many cardholders rarely use such insurance benefits and often rely on separate insurance policies for accident or life coverage.

Similar benefit removals have also been seen with other issuers like SBI Card, suggesting that this could be part of a broader trend in the credit card industry.

However, users holding premium cards such as the Equitas PowerMiles Credit Card might feel slightly disappointed, as premium products are usually expected to maintain a strong set of benefits.

Bottom Line

The removal of Air Accident Cover, Personal Accident Cover, and Credit Shield Insurance from Equitas Small Finance Bank credit cards will take effect from 1 April 2026.

While this change slightly reduces the number of complimentary benefits, it is unlikely to significantly impact most cardholders since such insurance benefits are rarely used. Importantly, all other features, fees, and rewards of the cards remain unchanged.