Kotak Cashback+ and HSBC Live+ are two popular cards in the cashback segment. Both cards offer accelerated rewards on everyday categories such as dining, grocery, and entertainment. While Kotak Cashback+ is a solid choice for consumers who prefer to spend online on these categories, HSBC Live+ offers better overall value for everyday spends without restricting benefits to online or offline transactions.
Here is a detailed comparison of both cards to help you understand which one suits your spending style and offers maximum value.
Cashback Benefits
| Particular | Kotak Cashback+ | HSBC Live+ |
| Accelerated Cashback |
|
10% cashback on dining, grocery & food delivery spends |
| Cashback Capping | Combined capping of Rs. 500 per month on accelerated cashback categories (5% and 3%) | Monthly cashback capping of Rs. 1,000 on the accelerated category |
| Base Cashback | Unlimited 0.5% cashback on other spends | Unlimited 1.5% cashback on other spends |
While both are cashback cards, Kotak Cashback+ is primarily designed to offer (5%) accelerated cashback on everyday online spends. On the other hand, HSBC Live+ offers (10%) accelerated cashback on everyday categories, including dining, grocery, and food delivery, irrespective of online or offline transactions. Apart from everyday categories, Kotak Cashback+ also offers (3%) accelerated cashback on fuel spends, despite offering a 1% fuel surcharge waiver, a benefit that is rarely offered on credit cards.
However, both cards come with monthly capping on their accelerated categories. With Kotak Cashback+, consumers can earn a maximum cashback of Rs. 500 per month across online grocery, food delivery, entertainment, and fuel spends. On the other hand, HSBC Live+ offers better value back of 10% on dining, grocery, and food delivery spends with a higher monthly cashback capping of Rs. 1,000, leading to marginally higher savings.
Apart from te accelerated categories, the base cashback on Kotak Cashback+ is comparatively lower at 0.5%, whereas HSBC Live+ offers 1.5% base cashback.
Overall, while both cards cater to similar categories, i.e., grocery, food delivery, dining, and entertainment, they differ in their rewards structure. Kotak Cashback+ is a suitable option for consumers who prefer to spend online on these categories, whereas HSBC Live+ is a preferable option for consumers who want higher value-back on day-to-day spends.
Other Benefits
| Particular | Kotak Cashback+ | HSBC Live+ |
| Joining/Annual Fee | Rs. 750 + Taxes | Rs. 999 + Taxes |
| Joining Benefit | No benefit | Rs. 1,000 cashback on logging in to HSBC mobile banking app & spending Rs. 20,000 within the first 30 days |
| Annual Fee Waiver | Annual fee waiver on annual spends of Rs. 2 Lakh | Annual fee waiver on annual spends of Rs. 2 Lakh |
| Fuel Benefits | 1% fuel surcharge waiver on fuel spends between Rs. 500 & Rs. 4,000, up to Rs. 3,500 per year | No benefit |
| Dining Benefit | No benefit | Up to 15% off on dining bills at partner restaurants via Live+ Dining Programme |
| Lounge Access | No benefit | 4 complimentary domestic lounge visits every year |
Apart from cashback benefits, HSBC Live+ offers better overall value with additional benefits across dining and travel categories. While Kotak Cashback+ offers basic benefits such as an annual fee waiver and a fuel surcharge waiver, HSBC Live+ justifies its comparatively higher annual fee of Rs. 999 with perks like welcome benefits worth Rs. 1,000, an additional 15% dining discount, and complimentary domestic lounge visits, enhancing the card’s overall value.
Value-back Comparison: Which Card Lets You Save More?
Let’s see how much you can save on the same spends through both cards:
| Category | Amount Spent (in Rs.) | Savings via Kotak Cashback+ (in Rs.) | Savings via HSBC Live+ (in Rs.) |
| Food Delivery (Online) | Rs. 5,000 | Rs. 250 | Rs. 500 |
| Food Delivery (Offline) | Rs. 5,000 | Rs. 25 | Rs. 500 |
| Dining | Rs. 5,000 | Rs. 25 | Rs. 0** |
| Grocery (Online) | Rs. 5,000 | Rs. 250 | Rs. 0** |
| Grocery (Offline) | Rs. 5,000 | Rs. 25 | Rs. 0** |
| Fuel | Rs. 10,000 | Rs. 0* | Rs. 0# |
| Travel | Rs. 10,000 | Rs. 50 | Rs. 150 |
| Shopping | Rs. 10,000 | Rs. 50 | Rs. 150 |
| Entertainment (Online) | Rs. 3,000 | Rs. 0* | Rs. 45 |
| Total Cashback | Rs. 675 | Rs. 1,345 | |
*Cardholders can earn a maximum cashback of Rs. 500 per month on the accelerated categories.
**Cardholders can earn a maximum cashback of Rs. 1,000 per month on the accelerated categories.
#HSBC Live+ does not offer cashback on fuel spends.
As we can see from the above comparison, HSBC Live+ leads to better savings on similar categories, primarily due to its 10% accelerated cashback with a comparatively higher monthly capping of Rs. 1,000. Besides this, it also offers a higher base cashback of 1.5% on spends beyond the accelerated categories.
Which One Should You Pick?
Since both cards cater to similar everyday categories, choosing between Kotak Cashback+ and HSBC Live+ depends on your spending preferences. Kotak Cashback+ is a suitable choice for consumers looking to save on their online everyday spends, while HSBC Live+ offers better value-back across everyday spends along with additional benefits on dining and travel. However, do keep in mind that HSBC Live+ comes with a comparatively higher annual fee of Rs. 999.
Choose Kotak Cashback+ if:
- You frequently spend online on grocery, food delivery, and entertainment
- You want to earn additional cashback on fuel spends without any brand restriction
- You can spend Rs. 2 Lakh in a year to avail the annual fee waiver
Choose HSBC Live+ if:
- You want to earn higher value-back across both online and offline everyday spends
- You frequently dine out and want extra savings on dining bills in addition to accelerated cashback
- You are a frequent domestic traveller and looking for a card with domestic lounge access benefits
- You are comfortable paying a higher annual fee for better overall value
