Best Cashback Credit Cards in India
Cashback rates are meaningful only after caps, excluded merchant categories and annual fees. This shortlist includes cards with dated issuer evidence and a clearly recorded cashback proposition.
Cards below are ordered by modelled net annual value on the benchmark wallet below, after fees, caps and exclusions — never by affiliate payout. The benchmark wallet is ₹38,000 a month: ₹12,000 online, ₹6,000 dining, ₹8,000 grocery, ₹4,000 fuel, ₹5,000 travel, ₹3,000 utility. Your own order will differ where your spending does.
Short answer
On the benchmark wallet below (₹38,000/month), HSBC Live+ returns the most of the 14 issuer-verified cashback credit cards CardMasters tracks: ₹15,060 a year after fees, caps and exclusions, ahead of Bank of Baroda (BOBCARD) Eterna and Yes Bank Paisabazaar PaisaSave. That ordering is a model of one stated spending profile, not a verdict on yours: your own winner depends on what you actually spend, the cards you already hold, how you redeem, and issuer approval fit. Records checked 2026-08-25.
Source: CardMasters issuer-evidence catalogue, release 2026-08-25. Confirm final terms with the issuer.
What to check before applying
- Compare the spend required to reach each monthly cashback cap.
- Check utilities, insurance, education, fuel, rent and government exclusions.
- Subtract the annual fee and GST unless your eligible spend clears the waiver.
HSBC Live+
₹999 + GST
1.5% in Cashback
3.5%
Visa
Best suited to: dining, grocery, food delivery, cashback. Recorded exclusions: fuel, rent, wallet load, emi, insurance, utilities.
Review rewards, caps, fees and issuer evidence →Bank of Baroda (BOBCARD) Eterna
₹2,499 + GST
3 RP/₹100 (worth ₹0.75 as cashback)
2%
Visa Signature
Best suited to: online shopping, domestic lounge, fitness, value premium. Recorded exclusions: fuel, rent, wallet load, cash withdrawal, emi, grocery, insurance, education.
Review rewards, caps, fees and issuer evidence →Yes Bank Paisabazaar PaisaSave
₹0
1% in Cashback
3.5%
Mastercard, RuPay (virtual)
Best suited to: cashback, dining, upi, first card. Recorded exclusions: fuel, rent, wallet load, utility, education, insurance, emi, government.
Review rewards, caps, fees and issuer evidence →Swiggy HDFC
₹500 + GST
1% statement cashback on eligible other-category spend
3.5%
Mastercard
Best suited to: food delivery, online shopping, young professional. Recorded exclusions: fuel, rent, jewellery, government, wallet load, gift card, cash advance.
Review rewards, caps, fees and issuer evidence →HDFC Bank Swiggy BLCK
₹1,000 + GST
1% in Cashback
3.5%
Mastercard
Best suited to: food delivery, swiggy, cashback. Recorded exclusions: fuel, rent, wallet load, government, gaming, education, jewellery, emi.
Review rewards, caps, fees and issuer evidence →Yes Bank POP-CLUB Credit Card
₹399 + GST
2 POPcoins per ₹100 on eligible non-online retail spend
3.5%
RuPay
Best suited to: online shopping, upi credit, first card. Recorded exclusions: fuel, rent, wallet load, utility, government, marketing advertising, cash advance, fees.
Review rewards, caps, fees and issuer evidence →Cashback SBI Card
₹999 + GST
1% cashback on eligible offline point-of-sale spend
3.5%
Visa, RuPay
Best suited to: online shopping, cashback, first card. Recorded exclusions: fuel, rent, wallet load, utility, insurance, school, jewellery, railways.
Review rewards, caps, fees and issuer evidence →HDFC Bank Millennia
₹1,000
1% in CashPoints
3.5%
Visa, Mastercard
Best suited to: online shopping, first card, young professional. Recorded exclusions: fuel, rent, wallet load, emi, government.
Review rewards, caps, fees and issuer evidence →Axis Bank Cashback
₹1,000 + GST
0.75% statement cashback on eligible offline and travel spend
3.5%
Visa, Mastercard
Best suited to: cashback, online shopping, travel. Recorded exclusions: transportation, tolls, insurance, education, jewellery, precious metals, watches, government.
Review rewards, caps, fees and issuer evidence →Axis Bank ACE
₹499
1.5% in Cashback
3.5%
Visa
Best suited to: bills utilities, cashback, flat rate. Recorded exclusions: fuel, rent, wallet load, emi, utility, telecom, education, government.
Review rewards, caps, fees and issuer evidence →IDFC FIRST Bank Quantum+ Credit Card (FD-secured)
₹0
1% cashback on eligible online and in-store purchases
Not recorded
RuPay
Best suited to: lifetime free, first credit card, credit builder, cashback. Recorded exclusions: cash advance, emi.
Review rewards, caps, fees and issuer evidence →SBI Card PRIME
₹2,999 + GST
0.5% in Reward Points
3.5%
Visa, Mastercard, RuPay
Best suited to: dining, grocery, milestone spender. Recorded exclusions: fuel, rent, wallet load.
Review rewards, caps, fees and issuer evidence →SimplyCLICK SBI Card
₹499 + GST
1 Reward Point per ₹100 on eligible spends
3.5%
Visa, Mastercard, RuPay
Best suited to: online shopping, first card, low fee. Recorded exclusions: fuel, rent, wallet load, government, digital gaming, cash advance.
Review rewards, caps, fees and issuer evidence →Amazon Pay ICICI
₹0
1% in Amazon Pay balance
1.99%
Visa, RuPay
Best suited to: amazon, cashback, first card, lifetime free. Recorded exclusions: fuel, rent, gift cards, wallet load.
Review rewards, caps, fees and issuer evidence →Frequently asked questions
Which is the best cashback credit card in India?
On the benchmark wallet CardMasters publishes on this page (₹38,000 of monthly spend), HSBC Live+ returns the most across 14 issuer-verified options — ₹15,060 a year after the annual fee, monthly caps and excluded categories. The cheapest to hold is Yes Bank Paisabazaar PaisaSave at ₹0 a year. Which of those matters more depends on your own spending, the cards you already hold, how you redeem and issuer approval fit. Ranking never uses affiliate payout.
How many cashback credit cards does CardMasters track?
This shortlist shows 14 cards, each with a dated issuer-source check. The full CardMasters directory covers 96 active Indian credit cards.
Does affiliate commission affect this shortlist?
No. Affiliate payout is not used to select, order or value cards. A card can appear without a monetized application link, and every tracked campaign is disclosed separately.
How current is the card information?
Every card on this page has a dated issuer-source record. This catalogue release was published 2026-08-25, but credit-card terms can change after publication, so confirm final terms with the issuer.
What should I check before applying for a cashback credit card?
Compare the spend required to reach each monthly cashback cap. Approval, credit limit and final pricing remain at the issuer's sole discretion.