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Best Cashback Credit Cards in India 2023

Home Credit Card Best Cashback Credit Cards in India 2023

If you've been wondering how to save on everyday expenses, cashback credit cards might be the solution you've been looking for. Known for their simplicity and effectiveness, these cards offer a straightforward benefit on your spends. Every time you use your credit card, a percentage of the purchase will be returned to you in the form of cashback. However, the world of cashback cards is diverse. Some cards offer a flat-rate cashback across all the categories, whereas other cards offer a higher rate for specific purchases or categories. With the right credit card, you can earn money back on where you spend the most - whether that be the grocery store or online shopping. To help you find the right option, here is a list of top cashback credit cards in India:

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Updated: 19-09-2023 07:13:43 AM

Best Cashback Credit Cards in India for September 2023

Credit Card Best For Annual Fee
Cashback SBI Card Online Shopping Rs. 999
Axis Bank ACE Credit Card Utilities and Food Orders Rs. 499
Flipkart Axis Bank Credit Card Co-branded Benefits Rs. 500
Amazon Pay ICICI Credit Card Online Shopping Nil
HDFC Millennia Credit Card Benefits across Multiple Categories Rs. 1,000
Airtel Axis Bank Credit Card Utility Bill Payments Rs. 500
Paytm SBI SELECT Credit Card Travel and Shopping Rs. 1,499
Standard Chartered Smart Credit Card Online Spends Rs. 499
YES Prosperity Cashback Plus Credit Card Bill Payments Rs. 1,499
Swiggy HDFC Bank Credit Card Co-branded Benefits Rs. 500

Top Credit Cards in India | Check Eligibility for Top Cards | How to Choose the Right Cashback Credit Card

Flipkart Axis Bank Credit Card

Here are the top 10 cashback credit cards that reward you with decent cashback for your expenses:

1. Cashback SBI Card

Best cashback credit card for online shopping

Cashback SBI Card

Annual Fee: Rs. 999
Renewal Fee: Rs. 999 (Waived off on spending Rs. 2 lakh in a year)

Key Benefits:

  • 5% cashback on online spends
  • 1% cashback only on offline transactions
  • Annual fee reversal on spending Rs. 2 Lakh in a year
  • 1% fuel surcharge waiver across all petrol pumps in India

Suggested: Best Credit Cards for Shopping | Check Eligibility for Top Cards

SBI Cashback Credit Card offers the highest cashback rate on online spends in comparison to other cashback credit cards in the market, at 5%. Additionally, what makes this card stand out is that there are no merchant restrictions. Thereby, you earn cashback, irrespective of the website you spend on. This is unlikely since many cards offering high cashback usually restrict it to selected platforms. Also, the cashback redemption process with this card is comparatively easier, as the cashback is directly credited to the card account.

2. Axis Bank ACE Credit Card

Best cashback credit card for utilities and food orders

Annual Fee: Rs. 499
Renewal Fee: Rs. 499 (Waived off on spending Rs. 2 lakh in a year)

Key Benefits:

  • 5% cashback on bill payment and recharge via Google Pay
  • 4% on Swiggy, Zomato and Ola
  • 2% cashback on all other spends
  • 4 free lounge visits per year at select domestic airports
  • 1% fuel surcharge waiver at all fuel stations
  • Up to 20% discount at 4000+ partner restaurants

Suggested: Best Credit Cards for Airport Lounge Access | Check Eligibility for Top Cards

Axis Bank Ace Credit Card comes with a 2% flat-rate cashback implying that you can earn good value back on all your purchases. This card offers up to 5% cashback on bill payments, DTH, and mobile recharges done via Google Pay, and 4% cashback on specific merchants such as Swiggy, Zomato & Ola. All of these categories are quite practical for everyone. Also, there is no upper limit on the maximum cashback that can be earned which becomes a very good deal for those who spend across all these categories frequently. With a low annual fee, this is one of the best entry-level cards for high overall value back, especially for people who have just started their careers.

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3. Flipkart Axis Bank Credit Card

Best cashback credit card with co-branded benefits

flipkart axis bank credit card

Annual Fee: Rs. 500
Renewal Fee: Rs. 500 (Waived off on spending Rs. 3.5 lakh in a year)

Key Benefits:

  • 5% cashback on Flipkart
  • 4% cashback on shopping with preferred merchants
  • 1.5% unlimited cashback on Myntra and flight & hotel payments on Flipkart
  • 1.5% cashback across all other categories
  • 4 complimentary domestic lounge visits in a year
  • 1% fuel surcharge waiver up to Rs. 400 per month
  • Welcome benefits worth Rs. 1,100

Suggested: Best Online Shopping Credit Cards in India | Check Eligibility for Top Cards

Flipkart Axis Bank Credit Card is one of the best co-branded credit cards in India. It is best suited for people who are active users of Flipkart as it gives 5% cashback every time you shop on the given platforms. Besides, 4% cashback on other merchants like ClearTrip, PVR, Uber, and Cure.fit can also be availed. So, basically, this card covers the three very popular categories – shopping, travel, and lifestyle. Similar cards like Amazon Pay and Paytm SBI Card offer great benefits on their own respective platforms and some partner merchants. However, the partner merchants on Flipkart Card are among the most popular ones in their categories, making the card more practical. Hence, if you are someone who is seeking a credit card for discounts and offers on online shopping across multiple categories, this is the card for you.

4. Amazon Pay ICICI Credit Card

Best cashback credit card with co-branded benefits

Amazon Pay ICICI Credit Card

Annual Fee: Nil
Renewal Fee: Nil

Key Benefits:

  • 5% cashback on Amazon for Prime Customers
  • 3% cashback on Amazon for Non-Prime Customers
  • 2% cashback on 100+ partner merchants
  • 1% cashback on all other transactions
  • 1% waiver on fuel surcharge across all petrol pumps in India

Suggested: Best Co-branded Credit Cards in India | Check Eligibility for Top Cards

Amazon Pay ICICI Credit Card is a co-branded credit card that offers the highest benefits for your purchases at Amazon. Amazon Prime members can avail 5% cashback on their transactions at Amazon, without any joining or annual fee. On the other hand, non-prime members can get 3% cashback on Amazon transactions. Apart from cashback, you can also get other privileges, like dining benefits, a fuel surcharge waiver and no cost EMI facility with this credit card. This is a decent option if you frequently shop online from Amazon and are looking for a card that offers benefits on online shopping.

5. HDFC Millennia Credit Card

Best cashback credit card with benefits across multiple categories

Annual Fee: Rs. 1,000
Renewal Fee: Rs. 1,000 (Waived off on spending Rs. 1 lakh in a year)

Key Benefits:

  • 5% cashback on Amazon, Cult.fit, BookMyShow, Sony LIV, Flipkart, Myntra, Swiggy, Tata CLiQ, Zomato and Uber
  • 1% cashback on offline spends and wallet reloads
  • Cashback will be earned in the form of Cash Points
  • 8 free domestic lounge visits per year
  • Rs. 1,000 worth gift vouchers on spending Rs. 1 lakh and above in each calendar quarter
  • Up to 20% discount on partner restaurants via Swiggy Dineout

Suggested: Best Entertainment Credit Cards in India | Check Eligibility for Top Cards

HDFC Millenia offers lucrative cashback on not just one, but multiple categories say online shopping, travel, wallet loading, and other offline transactions. You will get 5% cashback on popular websites like Amazon and Flipkart. You will also get cashback on EMIs and wallet loading with this card, which is not so common among cashback credit cards. At an annual fee of Rs.1,000, the multi-faceted features that this card offers is a pretty good deal for cashback & discount seekers. The only drawback of this card is that cashback is offered only if you exceed a pre-set transaction amount on that particular category. So, this card will be the perfect choice for those who usually make high-spending on the card.

6. Airtel Axis Bank Credit Card

Best cashback credit card for utility spends & Airtel customers

Airtel Axis Credit Card

Annual Fee: Rs. 500
Renewal Fee: Rs. 500 (Waived off on spending Rs. 2 lakh in a year)

Key Benefits:

  • 25% cashback on bill payments of Airtel Mobile, Broadband, WiFi and DTH via Airtel Thanks app
  • 10% cashback on Zomato, Swiggy, BigBasket and utility bills paid for electricity, gas, etc. via Airtel Thanks app
  • 1% unlimited cashback on other spends
  • Amazon e-voucher worth Rs. 500 as a welcome or activation benefit
  • 4 complimentary domestic lounge access per year
  • Up to 20% discount at partner restaurants

Suggested: Best Credit Cards for Utility Bill Payments | Check Eligibility for Top Cards

A great option for Airtel customers, Airtel Axis Credit Card offers 25% cashback on bill payments for Airtel mobile, WiFi, DTH and broadband recharges. Moreover, 10% cashback on preferred merchants and utility bills paid via Airtel Thanks app is also provided. along with unlimited 1% cashback on other spends. Since most cards exclude utility bill payments from their rewards program, this credit card is one of the leading options for those looking to save on this spending category. Its low annual fee and direct accrual of the cashback to the credit statement makes it affordable and hassle-free. However, if you are not an Airtel customer and are still looking to earn cashback on utility bills, then Axis ACE credit card might be a better option for you which offers cashback on utility bill paid via Google Pay.

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7. Paytm SBI SELECT Credit Card

Best cashback credit card for travel and shopping

Annual Fee: Rs. 1,499
Renewal Fee: Rs. 1,499 (Waived off on spending Rs. 2 lakh in a year)

Key Benefits:

  • 5% cashback on Paytm Mall, Movies and Travel
  • 2% cashback on other purchases via Paytm app
  • 1% cashback on any other spends on offline and online stores
  • Complimentary Paytm First Membership worth Rs. 750
  • Rs. 750 cashback in your Paytm Wallet as a joining benefit
  • Rs. 2,000 gift voucher on achieving annual retail spends of Rs. 4 lakh
  • Rs. 4,000 gift voucher on achieving annual retail spends of Rs. 6 lakh
  • 4 complimentary domestic lounge access per year
  • Complimentary Priority Pass worth the US $99 for first two years of cardholder membership

Suggested: Best Credit Cards for Retail Shopping | Check Eligibility for Top Cards

Paytm SBI Select Credit Card holds great value for Paytm users not only in the form of cashback across different categories but also in the form of Paytm First Membership. It offers instant cashback and more savings upon using the card on Paytm Mall and other offline/online platforms. Users of Paytm SBI Select card can get up to 5% cashback exclusively on booking travel or movie tickets, the minimum cashback offered is 1% on all other transactions done on offline and/or online platforms. Though the card is also available in a regular variant, we would suggest the ‘Select’ variant (if you are eligible) as it gives higher cashback on Paytm purchases. The base rate, however, is the same with both cards.

8. Standard Chartered Smart Credit Card

Best cashback credit card for online spends

Standard Chartered Bank Smart Credit Card

Annual Fee: Rs. 499
Renewal Fee: Rs. 499 (Waived off on spending Rs. 1.2 lakh in a year)

Key Benefits:

  • 2% cashback (Max. Rs. 1,000 per month) on online transactions
  • 1% cashback (Max. Rs. 500 per month) on all other spends
  • Renewal fee waiver by spending Rs. 1.2 lakh annually
  • Interest-free credit period of up to 90 days
  • Convert purchases of Rs. 2,000 and above into EMIs

Suggested: Best Grocery Credit Cards in India  | Check Eligibility for Top Cards

Standard Chartered Smart Credit Card rewards you with 2% cashback for online transactions and 1% cashback for all other transactions. This credit card also offers an extended interest-free period of up to 90 days along with other benefits such as EMI conversion, contactless payments, OTP verification and more. The good thing is you can also get a loan against your Standard Chartered Smart Credit Card of up to Rs. 5 lakh with the flexible repayment option. Overall, you can apply for this credit card if you frequently shop online and are looking for a low-annual fee credit card that offers decent cashback on online transactions.

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9. YES Prosperity Cashback Plus Credit Card

Best cashback credit card for all your bill payments

Joining Fee: Rs. 1,499
Annual Fee: Rs. 1,499

Key Benefits:

  • 5% cashback* on movie ticket bookings and grocery shopping
  • 0.75% cashback* on all other retail spends
  • 5% cashback* on bill payments via YES PayNow
  • Welcome cashback of Rs. 250 on spending Rs. 2,500 in the first 30 days of card issuance
  • 1% fuel surcharge waiver at all fuel stations across India

*T&C Apply

Suggested: Credit Cards with Best Welcome Benefits | Check Eligibility for Top Cards

YES Prosperity Cashback Plus Credit Card offers 5% cashback on bills including rent payments, mobile recharge, telephone bill payment, gas and electricity bill payment via YES Bank’s PayNow service. Besides, there is 5% cashback on groceries. These two categories are quite sensible for a larger customer segment as utilities and groceries are non-discretionary expenses and getting such generous rewards for these categories is actually quite beneficial. .

Another card with similar benefits is Axis Ace and it comes with a higher universal cashback rate of 2%, thus beating YES Prosperity Cashback. However, if you are not eligible for Axis Bank Ace Credit Card but specifically looking for a card that rewards you for heavy utility bill payments every month, YES Prosperity Cashback can be a great alternative. Its cashback rate for utility bills and groceries is the same as Axis Ace (5%). The platforms, however, are different.

10. Swiggy HDFC Bank Credit Card

Best cashback credit card with co-branded benefits

Swiggy HDFC Credit Card

Annual Fee: Rs. 500
Renewal Fee: Rs. 500 (Waived off on spending Rs. 2 lakh in a year)

Key Benefits:

  • 10% cashback on Swiggy app for food ordering, Swiggy Instamart, Dineout and Genie
  • 5% cashback on online spends across top brands
  • 1% cashback on other category spends
  • 3 months Swiggy One membership on card activation and renewal

Suggested: Best Dining Credit Cards in India | Check Eligibility for Top Cards

Swiggy HDFC Bank Credit Card is suitable for those who frequently use Swiggy to order food, groceries and other daily-use items online or like to dine-in at restaurants. This co-branded credit card comes with an accelerated cashback rate of up to 10% on Swiggy and other online spends made on top brands which can later be redeemed in 1:1 ratio against Swiggy Money balance. This makes this card a great choice for co-branded benefits and online shopping and a strong competitor to Flipkart Axis Bank and Amazon Pay ICICI credit cards. Moreover, the card members are only charged with a nominal fee which can further be waived off on reaching the annual spends of just Rs. 2 lakh.

How we picked these cashback credit cards?
How to choose the right cashback credit card?
FAQs
How we picked these cashback credit cards?

The main criterion for us has been the value back that each of these cards offer. We have also covered different spending categories from supermarket spends, fuel and groceries to those with comprehensive cashback benefits across multiple categories. Most of the cards in our list are from ‘low to moderate’ fee range and thus suited to the needs of many. You can read our reviews of the listed cards to get an unbiased opinion on each of them.

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How to choose the right cashback credit card?

The choice of best credit card for cashback depends on how you plan to use the card. Since credit card benefits are usually inclined towards one or two specific categories, understanding your need is very important while choosing any type of card. For example, if you plan to use the card mainly for groceries, the Standard Chartered Manhattan Platinum Credit Card would be good for you. However, if you wish to be rewarded for fuel expenses, their Super Value Titanium Credit Card would be better.

Once you have narrowed down your options, you should compare the cards on the basis of annual fee, cashback rate, bonus categories, etc.

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FAQs

Q. Which is better- cashback or rewards?
A. The idea behind cashback and rewards is the same- they are simply an incentive for using your card. While cashback is simple to understand and manage, reward points are a bit complicated because of the extra step of first accumulating them and then redeeming them at a later stage. Some cards allow you to convert the reward points into cash but the rate may not be the same. At the same time, there are rewards credit cards that allow conversion into miles which could be better than cashback, especially if you travel often. So, you must make a choice depending on your needs.

Q. Is a cashback credit card worth it?
A. Any credit card would be worth only if you manage to get benefits at least equivalent to the annual fee charged. Most cashback cards charge a low annual fee so it is likely that you would be able to make the most of it even if you do not put every expense on the card. However, you should always pay your bills on time so that the extra charges do not eat into your benefits.

Q. How to maximize cashback on your credit card?
A. The easiest way to maximize the benefits on your cashback credit card is to use it for the bonus category of expenses. For example, if your cashback credit card offers fuel benefits, you must put your fuel expenses on this card to make the most of it.

Q. I already have a rewards credit card. Should I get a cashback credit card too?
A. You should consider getting a cashback credit card if your rewards card does not cover a particular spending category. Even if you are happy with your rewards credit card, getting a low or no annual fee cashback credit card does not hurt.

Q. Is 2% cashback good?
A. Yes. This is because rewards may look like a lot but their actual value back is low. Mostly, the monetary value of 1 reward point ranges from Re. 0.25 to Re. 0.50. But when you get real and direct cashback, even 2% is better.

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