Best Cashback Credit Cards in India 2026 — 12 Cards Ranked
Updated for 2026. Every Indian cashback credit card we rank below was either applied for, held, or verified against the issuer’s published terms within the last 60 days. This guide is specifically about cashback — cards where the reward is direct money back on your statement or wallet, not reward points with compressed redemption rates or airline miles. If you want to maximise the rupee value per transaction, this is the shortlist that matters.
TL;DR — top picks by profile
If you order food delivery and pay utility bills: Axis ACE (5% on utility bills, 4% on Swiggy/Zomato/Ola)
If you want UPI-on-credit for daily grocery: HDFC UPI RuPay (3% CashPoints on groceries and dining via UPI, about 0.75% in real value, ₹99 annual fee)
If you want clean flat rewards without thinking: SCB Ultimate (about 3.3% flat, 4 domestic lounge visits a quarter)
If you spend heavily on Swiggy: HDFC Swiggy (10% on Swiggy, 5% other online, but check availability: reports say HDFC stopped new issuance in 2026)
What counts as “cashback” in India
Before ranking, here’s the honest definition we use. “Cashback” means the reward is credited as rupee value you can use directly — either as a credit against your card statement, as a bank deposit, or as wallet money that spends like cash. Anything that requires you to redeem through a catalogue at ₹0.25 per point, transfer to airlines, or convert through a partner portal isn’t cashback — it’s a reward point programme, which is a different product category with different mechanics.
This rules out cards like the HDFC Infinia (rewards are SmartBuy reward points at variable redemption rates), the ICICI Emeralde Private Metal (rewards convert at ₹0.40 per point max), and the Amex Platinum Reserve (Membership Rewards transfer to airlines). Those are excellent cards for their intended use — high-reward lifestyle cards — but not cashback cards in the strict sense.
The 2026 cashback ranking — 11 cards
Amazon Pay ICICI Credit Card
| Fee | Nil (lifetime free) |
|---|---|
| Headline rate | 5% on Amazon for Prime members, 3% without Prime |
| Caps | None on the Amazon rates |
| Paid as | Amazon Pay balance |
The default no-fee cashback card: 5% on Amazon for Prime members (3% without Prime), 2% at Amazon Pay partner merchants and 1% elsewhere, with no upper cap. Since 15 January 2026, wallet loads of ₹5,000 or more carry a 1% fee, and the forex markup is 1.99%.
Who should get it: Anyone who shops on Amazon a few times a month. ICICI lists eligibility as age 21+ with ₹30,000 monthly income. Full review: read the review.
Axis Bank ACE Credit Card
| Fee | ₹499 + GST, waived on ₹2 lakh |
|---|---|
| Headline rate | 5% on bills and recharges via Google Pay |
| Caps | 5% and 4% categories share a ₹500 cap per statement cycle |
| Paid as | Statement credit |
5% on utility bills and mobile recharges paid through Google Pay, 4% on Swiggy, Zomato and Ola, and 1.5% on other eligible spends (cut from 2% in April 2024). The 5% and 4% rates share a combined cap of ₹500 a cycle, so the accelerated categories top out at about ₹10,000–₹12,500 of monthly spend.
Who should get it: Households paying ₹5,000–₹10,000 a month in bills and food delivery who want a simple card with a high base rate. Full review: read the review.
HDFC Swiggy Credit Card
| Fee | ₹500 + GST, waived on ₹2 lakh |
|---|---|
| Headline rate | 10% on Swiggy (orders of ₹249+) |
| Caps | ₹1,500 a cycle on Swiggy, ₹1,500 on 5% online, ₹500 on 1% elsewhere |
| Paid as | Statement credit |
10% on Swiggy Food, Instamart and Dineout (orders of ₹249 or more), 5% on other online spends and 1% elsewhere, each with its own cap. Reports indicate HDFC stopped issuing this card to new applicants in early 2026 and now offers the Swiggy BLCK and ORNGE cards instead; existing cards continue.
Who should get it: Existing cardholders with heavy Swiggy spend. New applicants should check availability with HDFC first. Full review: read the review.
Standard Chartered Ultimate Credit Card
| Fee | ₹5,000 + GST a year, no spend waiver |
|---|---|
| Headline rate | 5 points per ₹150 (about 3.3% at ₹1 a point) |
| Caps | Utilities, supermarkets, insurance, rent and government earn 3 per ₹150, fuel nothing |
| Paid as | Reward points, 1 point = ₹1 |
A flat-rate premium card: about 3.3% on most spends with no category to track, plus 6,000 points (₹6,000) on paying the joining fee. Lounge access includes 4 domestic visits a quarter with no spend condition.
Who should get it: High spenders (₹1.5 lakh+ a year) who want one card with a flat high rate and can absorb the ₹5,900 fee. Full review: read the review.
Flipkart Axis Bank Credit Card
| Fee | ₹500 + GST, waived on ₹3.5 lakh (first year currently free) |
|---|---|
| Headline rate | 7.5% on Myntra, 5% on Flipkart and Cleartrip |
| Caps | ₹4,000 per statement quarter on each of Myntra, Flipkart and Cleartrip |
| Paid as | Statement credit |
7.5% on Myntra, 5% on Flipkart and Cleartrip, 4% at preferred partners such as Swiggy and 1% elsewhere (nothing on spends under ₹100). Utilities, fuel, rent, wallet loads, insurance, education, government and jewellery are excluded. Lounge access ended on 20 June 2025.
Who should get it: Regular Flipkart and Myntra shoppers. The ₹3.5 lakh waiver is high, so count on paying the fee from year two. Full review: read the review.
HDFC UPI RuPay Credit Card
| Fee | ₹99 + GST, waived on ₹25,000 |
|---|---|
| Headline rate | 3% CashPoints on groceries, dining and PayZapp |
| Caps | 500 CashPoints per category a month |
| Paid as | CashPoints worth ₹0.25 each |
A virtual RuPay card issued only to existing HDFC credit cardholders, sharing your existing limit, for UPI payments to merchants. Because a CashPoint is worth ₹0.25, the real return is about 0.75% on groceries and dining, 0.5% on utilities and 0.25% elsewhere.
Who should get it: Existing HDFC cardholders who want to pay by UPI on credit. Low real value, so not a primary cashback card. Full review: read the review.
SBI Cashback Credit Card
| Fee | ₹999 + GST, waived on ₹2 lakh |
|---|---|
| Headline rate | 5% on online spends |
| Caps | ₹2,000 a cycle on 5% online and ₹2,000 on 1% offline (₹4,000 total since 1 April 2026) |
| Paid as | Statement credit |
5% on online spends and 1% offline, each capped at ₹2,000 a statement cycle since April 2026 (down from ₹5,000 combined). No cashback on merchant EMI, utilities, insurance or fuel.
Who should get it: Online shoppers spending up to about ₹40,000 a month online across many merchants, not just one platform. Full review: read the review.
HDFC Millennia Credit Card
| Fee | ₹1,000 + GST, waived on ₹1 lakh |
|---|---|
| Headline rate | 5% on 10 partner brands |
| Caps | 1,000 CashPoints a month each for the 5% and 1% rates |
| Paid as | CashPoints, 1 = ₹1 as statement credit (₹50 fee per redemption) |
5% on Amazon, Flipkart, Myntra, Tata CLiQ, Swiggy, Zomato, Uber, BookMyShow, Sony LIV and Cult.fit, and 1% elsewhere. The most you can earn is ₹2,000 a month. Rent, wallet loads and EMIs earn nothing.
Who should get it: Ages 21–40 who spend ₹5,000–₹20,000 a month across these partner brands. Full review: read the review.
Tata Neu Plus HDFC RuPay Credit Card
| Fee | ₹499 + GST, waived on ₹1 lakh |
|---|---|
| Headline rate | 2% NeuCoins on Tata brands |
| Caps | UPI earn capped at 500 NeuCoins a month |
| Paid as | NeuCoins, 1 = ₹1 on Tata Neu |
2% NeuCoins on Tata Neu and partner Tata brands, 1% elsewhere, and up to 1% on RuPay UPI (0.25% on any UPI ID plus 0.75% via the Tata Neu UPI ID). 499 NeuCoins on the first transaction.
Who should get it: Households that shop BigBasket, Croma, Tata CLiQ or other Tata brands and want a low-fee card. Full review: read the review.
IDFC FIRST Select Credit Card
| Fee | Lifetime free (₹12 lakh+ income) |
|---|---|
| Headline rate | 10X on dining, travel and birthday spends |
| Caps | Points only up to your credit limit each cycle |
| Paid as | Reward points worth ₹0.25 |
A reward-points card rather than cashback: 10X (about 1.25%) on dining, travel and birthday spends, 3X on other spends and 1X on utilities, insurance, railways and FASTag. International spends earn no points from 26 October 2026, though the 0% forex markup remains.
Who should get it: Higher earners who want a no-fee card with modest rewards and 0% forex. Full review: read the review.
BOBCARD Cashback Credit Card
| Fee | ₹49 a month or ₹499 a year |
|---|---|
| Headline rate | 5% on eligible domestic online spends |
| Caps | ₹1,500 a month on the 5% rate |
| Paid as | Statement credit |
Launched in November 2025: 5% cashback on eligible domestic online spends up to ₹1,500 a month and 1% uncapped on everything else, with the option to pay the fee monthly.
Who should get it: Online shoppers who want an SBI Cashback alternative with a lower fee. Full review: read the review.
Head-to-head comparison table
| Card | Fee (+GST) | Headline rate | Caps | Fee waived at |
|---|---|---|---|---|
| Amazon Pay ICICI | Nil | 5% Amazon (Prime), 3% non-Prime | No cap | Free |
| Axis ACE | ₹499 | 5% bills via Google Pay, 4% Swiggy/Zomato/Ola | ₹500 combined on 5% + 4% | ₹2 lakh |
| HDFC Swiggy (check availability) | ₹500 | 10% Swiggy | ₹1,500 Swiggy + ₹1,500 online + ₹500 other | ₹2 lakh |
| SC Ultimate | ₹5,000 | About 3.3% flat | No cap | No waiver |
| Flipkart Axis | ₹500 | 7.5% Myntra, 5% Flipkart and Cleartrip | ₹4,000 a quarter per brand | ₹3.5 lakh |
| HDFC UPI RuPay | ₹99 | About 0.75% real value on groceries and dining | 500 CashPoints per category | ₹25,000 |
| SBI Cashback | ₹999 | 5% online, 1% offline | ₹2,000 + ₹2,000 a cycle | ₹2 lakh |
| HDFC Millennia | ₹1,000 | 5% on 10 partners, 1% other | ₹1,000 + ₹1,000 a month | ₹1 lakh |
| Tata Neu Plus HDFC | ₹499 | 2% Tata brands, 1% other, up to 1% UPI | 500 NeuCoins a month on UPI | ₹1 lakh |
| IDFC FIRST Select | Nil | About 1.25% on dining and travel (points) | Up to credit limit | Free |
| BOBCARD Cashback | ₹499 a year or ₹49 a month | 5% online, 1% other | ₹1,500 a month on 5% | — |
Found one you like? Read our independent review, then apply on the bank’s official site.
Read card reviews →Find My Card →How to pick the right cashback card for you
There is no “best” cashback card — only the best one for your specific spending pattern. Start by answering three questions:
Question 1: How much do you spend on your dominant platform each month?
If you spend ₹8,000+ per month on a single platform (Amazon, Flipkart, Swiggy), a category-specific card almost always beats a flat-rate card. The 5-10% category rates translate to more rupees than 3-5% across everything. If your spend is spread across many platforms equally (say ₹3,000-5,000 each on five different merchants), a flat-rate card like SCB Ultimate delivers more.
Question 2: What’s your annual fee tolerance?
Three cards on this list are lifetime free with zero strings: Amazon Pay ICICI, IDFC FIRST Select, IDFC FIRST SWYP. Use these as primary cards for low-effort, no-fee cashback. Only step up to fee cards (Axis ACE, HDFC Swiggy, SBI Cashback) if your category match is strong enough to clear the fee 2-3x over.
Question 3: Do you concentrate spend in cashback-eligible categories?
Every cashback card excludes some categories — rent, fuel, EMI conversions, wallet loads, government payments, insurance. If 40% of your monthly card spend falls into excluded buckets, the effective reward yield drops sharply. For households with big rent payments and EMI conversions, a flat-rate card like SCB Ultimate is often a better math than a “5%” category card that excludes half your spend.
5 mistakes that kill your cashback return
Mistake 1: Ignoring the monthly cashback cap. The HDFC Swiggy’s “10% on Swiggy” caps at ₹1,500/month — so the 10% rate only applies to your first ₹15,000 of Swiggy spend. Above that, you earn nothing additional. Families ordering ₹30,000/month on Swiggy get an effective rate of 5%, not 10%.
Mistake 2: Assuming all “cashback” is statement credit. Some cards credit cashback as ecosystem-locked wallet balance (OLA Money SBI → OLA Money, Tata Neu Plus → NeuCoins in Tata ecosystem). If that ecosystem shrinks or your usage tapers, the value becomes stranded. Statement credit is always safer than wallet credit.
Mistake 3: Treating reward points as cashback. A card advertising “10X reward points on online spend” sounds like 10% but at ₹0.25 per point redemption, the actual cashback is 2.5%. Always multiply the reward-points rate by the redemption value to get the true cashback figure.
Mistake 4: Missing the annual fee waiver threshold. A ₹500 annual fee sounds small, but if you don’t hit the spend waiver in year two, you pay it permanently. Simulate your typical year’s spend before choosing a fee-based card over a lifetime-free one.
Mistake 5: Paying interest. Every ₹100 of cashback is wiped out by ₹200 of interest at a 42% APR if you carry a balance for just three months. If you can’t clear your bill in full each month, cashback cards deliver negative value. A card from our Balance Transfer Calculator might be more useful than any cashback card until your debt is cleared.
Our overall pick for most Indian households in 2026
The combination of Amazon Pay ICICI (free, 5% on Amazon) + Axis ACE (₹499, 5% utilities, 4% food delivery) covers the overwhelming majority of monthly spend for a typical urban family at a total cost of ~₹590 per year, typically returning ₹5,000-10,000 in cashback. Add the HDFC UPI RuPay (₹99) as a UPI-primary card if you do most daily spend via UPI, and the three-card setup covers nearly every category at near-maximum rates.
Last updated: April 2026. All fee structures and reward rates verified against issuer’s official published terms at time of writing. Cashback programs change — verify current terms before applying.
FAQs
How often is this article updated?
Reviewed every 6 months and refreshed when card terms or RBI rules change. Last updated May 2026 against Budget 2026 and current issuer schedules.
Are these recommendations sponsored?
No. CreditSmart does not accept paid placements from card issuers. Recommendations are based on independently calculated reward rates against publicly available T&Cs.
What if a card I prefer isn’t on this list?
Use the framework here (true reward rate, fee waiver, fine print) to evaluate any card. Or browse the full card review index.
Will issuer terms change after this article was published?
Yes — banks revise rewards, caps, and waivers periodically. Always confirm current terms on the issuer’s official page before applying.
How are reward rates calculated?
True reward rate = (annual reward earned at typical spend) − annual fee, expressed as a percentage of spend. We use realistic blended spend, not headline accelerated rates.
Sources & references
- RBI Master Direction on Credit Cards
- Official issuer websites: HDFC Bank, ICICI Bank, SBI Card, Axis Bank, Kotak, IDFC FIRST, AmEx India
- TransUnion CIBIL — credit scoring methodology
- Best credit cards India 2026 — overall ranking
- All credit card reviews — full index
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