Best Cashback Credit Cards in India 2026
Flat and category cashback cards compared — real rates after caps and exclusions, fee break-even, and which card suits your monthly spend.
Updated 28 September 2026 · 107 cards from 17 issuers trackedWhat you need to know
Cashback cards credit a percentage of your spend straight to your card account, so there are no points to value or redeem. Two designs dominate: flat-rate cards (Axis ACE 1.5% on almost everything, HSBC Live+ 1.5% outside its bonus categories) and category cards (Cashback SBI 5% online, HSBC Live+ 10% on dining and groceries, Amazon Pay ICICI 5% on Amazon). The best card for you is the one whose caps are not hit before your spending is.
- Cashback SBI Card: 5% online and 1% offline, each capped at ₹2,000 per statement cycle.
- Axis ACE: 5% on bills and recharges via Google Pay and 4% on Zomato, Swiggy and Ola (combined cap ₹500 a month), 1.5% uncapped on the rest.
- Common exclusions across cashback cards: fuel, rent, wallet loads, EMI, insurance, education, utilities (on some), jewellery and government payments.
Cashback cards compared
| Card | Issuer | Joining / annual fee | Reward rate | Best for | Net value on ₹3 lakh/yr spend* |
|---|---|---|---|---|---|
| Kiwi YES Bank RuPay Credit Card (Klick) | YES Bank | Free / Free | 1.50% base value | UPI spends on credit | ₹4,500 |
| Axis Bank ACE | Axis Bank | ₹499 / ₹499 | 1.50% base value | Flat cashback on all spends plus bill payments via GPay | ₹4,500 |
| HSBC Live+ | HSBC India | ₹999 / ₹999 | 1.50% base value | Dining & grocery cashback | ₹4,500 |
| Amazon Pay ICICI Bank | ICICI Bank | Free / Free | 1.00% base value | Amazon Prime shoppers wanting a free, no-cap cashback card | ₹3,000 |
| HSBC RuPay Cashback | HSBC India | ₹499 / ₹499 | 1.00% base value | UPI + dining cashback; 0% forex promo till 31 Dec 2026 | ₹3,000 |
| Standard Chartered Smart | Standard Chartered | — / ₹499 | 1.00% base value | Online shoppers wanting simple cashback; 0.99%/month 3-month EMI | ₹3,000 |
| Swiggy HDFC Bank | HDFC Bank | ₹500 / ₹500 | 1.00% base value | Heavy Swiggy/food-delivery users (note: HDFC also lists newer Swiggy … | ₹3,000 |
| Flipkart Axis Bank | Axis Bank | ₹500 / ₹500 | 1.00% base value | Flipkart and Myntra shoppers | ₹2,410 |
| Airtel Axis Bank | Axis Bank | ₹500 / ₹500 | 1.00% base value | Airtel postpaid/broadband/DTH users | ₹2,410 |
| Cashback SBI Card | SBI Card | ₹999 / ₹999 | 1.00% base value | Online spenders who want flat, simple cashback | ₹3,000 |
| HDFC Bank Millennia | HDFC Bank | ₹1,000 / ₹1,000 | 1.00% base value | Online shoppers who use the partner brands | ₹3,000 |
| ICICI Bank HPCL Super Saver | ICICI Bank | ₹500 / ₹500 | 0.50% base value | HPCL fuel buyers who also pay utility bills on card | ₹1,500 |
| Union UNI-CARBON | Union Bank of India | ₹499 / ₹550 | 0.50% base value | HPCL fuel spenders | ₹851 |
| Kotak Cashback+ | Kotak Mahindra Bank | ₹750 / ₹750 | 0.50% base value | Online food/grocery and OTT spenders | ₹615 |
* Base reward value on ₹3 lakh of yearly spends minus annual fee + 18% GST (fee treated as waived when the published waiver threshold is ₹3 lakh or less). Accelerated categories, caps and exclusions change the real value — see each card page.
Cap arithmetic: when each card tops out
| Card | Bonus rate | Cap | Cap is reached at |
|---|---|---|---|
| Cashback SBI Card | 5% online | ₹2,000 per cycle | ₹40,000 of online spend a cycle |
| HSBC Live+ | 10% dining, food delivery, grocery | ₹1,200 a month | ₹12,000 of those spends a month |
| Swiggy HDFC Bank | 10% on Swiggy | ₹1,500 a month | ₹15,000 on Swiggy a month |
| Standard Chartered Smart | 2% online | ₹1,000 a month | ₹50,000 online a month |
| Axis ACE | 5% GPay bills / 4% food apps | ₹500 a month combined | About ₹10,000–₹12,500 a month |
| Amazon Pay ICICI | 5% on Amazon (Prime) | No monthly cap | — |
Cashback card or rewards card?
- Value is fixed in rupees — no devaluation of points or redemption fees
- Credited automatically to the card account (Cashback SBI, Axis ACE)
- Easy to compare cards: the rate is the value
- Often lower fees with easy waivers (₹2 lakh a year for Cashback SBI and Axis ACE)
- No upside from airline or hotel transfers
- Caps limit value for high spenders
- Many everyday categories are excluded
- Few travel benefits such as lounges or low forex
Cashback and fee break-even calculator
Frequently asked questions
Which is the best cashback credit card in India?
For online shoppers, Cashback SBI Card (5% online up to ₹2,000 a cycle). For all-round spends, Axis ACE (1.5% uncapped). For Amazon users, Amazon Pay ICICI (free, 5% for Prime). For dining and groceries, HSBC Live+ (10% up to ₹1,200 a month).
Is credit card cashback taxable?
Cashback on personal spending is generally treated as a discount on purchases, not income. Cashback from business expenses may need to be accounted as business income.
When is cashback credited?
It varies: Cashback SBI and Axis ACE credit it to the card account (usually in the next statement), Amazon Pay ICICI credits Amazon Pay balance, and HDFC Millennia gives CashPoints you redeem against the statement at ₹1 each.
Do I get cashback on rent and utility payments?
Usually not on rent, and many cards exclude utilities too. HDFC Bank also charges a 1% fee on rent payments and on utilities above ₹50,000 a month.
Card features, fees and reward rates are compiled from issuers’ published terms and reputable card-review sites (source and date on each card page). Issuers change benefits often — confirm the latest MITC before applying.