Axis Bank Cashback vs Swiggy HDFC
A field-by-field comparison of fees, reward rates, accelerated categories, caps, exclusions, lounge access and forex markup, using each issuer's own published terms. Affiliate payout never decides the verdict.
Short answer
Axis Bank Cashback and Swiggy HDFC differ first on recurring cost: Axis Bank Cashback has an annual fee of ₹1,000 + GST against ₹500 + GST for Swiggy HDFC, so Swiggy HDFC is cheaper to hold. On rewards, Axis Bank Cashback earns 0.75% statement cashback on eligible offline and travel spend while Swiggy HDFC earns 1% statement cashback on eligible other-category spend. Both publish the same 3.5% forex markup. Neither card wins outright: the better choice depends on which accelerated categories match your spend, the monthly caps, the exclusions and issuer approval fit.
Source: CardMasters issuer-evidence catalogue, release 2026-08-25. Confirm final terms with the issuer.
| Feature | Axis Bank Cashback | Swiggy HDFC |
|---|---|---|
| Issuer | Axis Bank | HDFC Bank |
| Joining fee | ₹1,000 + GST | ₹500 + GST |
| Annual fee | ₹1,000 + GST | ₹500 + GST |
| Fee waiver | ₹4,00,000 annual eligible spend | ₹2,00,000 annual eligible spend |
| Base rewards | 0.75% statement cashback on eligible offline and travel spend | 1% statement cashback on eligible other-category spend |
| Accelerated routes | eligible online spend excluding travel · eligible utility bill payments | 10% statement cashback on eligible Swiggy Food, Instamart and Dineout transactions · 5% statement cashback on the issuer's eligible online merchant categories |
| Reward exclusions | transportation, tolls, insurance, education, jewellery, precious metals, watches, government, wallet load, rent, fuel | fuel, rent, jewellery, government, wallet load, gift card, cash advance |
| Forex markup | 3.5% | 3.5% |
| Fuel surcharge waiver | Not recorded — confirm with issuer | Not recorded — confirm with issuer |
| Domestic lounge | none | none |
| International lounge | none | none |
| Card networks | Visa, Mastercard | Mastercard |
| Best suited to | cashback, online shopping, travel | food delivery, online shopping, young professional |
| Issuer evidence | Checked 2026-08-23 | Checked 2026-07-28 |
Frequently asked questions
Is the Axis Bank Cashback better than the Swiggy HDFC?
Neither is universally better. Axis Bank Cashback charges ₹1,000 + GST a year and earns 0.75% statement cashback on eligible offline and travel spend; Swiggy HDFC charges ₹500 + GST and earns 1% statement cashback on eligible other-category spend. The better card is the one whose accelerated categories, caps and exclusions match your actual spending, after subtracting the annual fee and GST.
Which of the two has the lower annual fee, Axis Bank Cashback or Swiggy HDFC?
Swiggy HDFC has the lower recorded annual fee at ₹500 + GST. A spend-based waiver may reduce the effective cost of the other card, so check the waiver threshold before deciding.
Which is better for international spending, Axis Bank Cashback or Swiggy HDFC?
Both publish a 3.5% forex markup, so compare international reward eligibility and lounge access instead.
Can I hold both cards together?
Yes, provided each is approved on its own merits and you can pay both statements in full. Holding both makes sense only when their accelerated categories do not overlap; otherwise the second card adds an annual fee without adding rewards.