Best Cashback Credit Cards in India 2019

Cashback credit cards are great for maximum flexibility in how you redeem rewards. You may want to target a card that provides more cashback for a specific spending category like shopping or groceries, or you may prefer one that gives you a solid rate across all your purchases. No matter which way you lean, we've analyzed all the offerings in India to give you great options from which to choose.

Best Cashback Credit Cards
General CashbackIndusInd Iconia Amex1.5% on weekdays, 2% on weekends, free Jet Air ticket
High SpendersSC Ultimateup to Rs. 10,000 MakeMyTrip, 3.33% on all spend
Moderate SpendHDFC Bank Bharat Card5% on groceries, online shopping, travel, fuel & more
No Annual FeeIndusInd Pioneer1% on weekdays, 2% on weekends
Annual Fee WaiverBOB Financial SelectRs. 250 monthly bonus, 1.25% online, dining, utilities
SecuredBOB Financial Prime1% on all spend, Rs. 15,000 minimum deposit
Online SpendSimplyCLICK SBI Card2.5% on Amazon, Cleartrip, Foodpanda & more
Shop/Dine/GroceriesFBB SBI STYLEUP12.5% on FBB/Big Bazaar, 2.5% on Food Bazaar & dining
Cashback & MilesSC Manhattan Platinum5% on supermarkets & department stores

Best General Cashback Card: IndusInd Iconia American Express

Consider this if you want a great all-around cashback card

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer
Bonuses
  • Welcome Gift: Multiple options, including waiver of Jet Airways one way base fare + airline fuel charge

IndusInd's Iconia Amex Credit Card is the best general cashback card in the market, earning 1.5% cashback on all weekday spend, with 2% back on weekends (excluding fuel). The card also comes with nice perks, including 2 quarterly visits to American Express airport lounges in India, various travel insurances, 20% Lemon Tree hotel properties and free golf. Notably, the Rs. 3,500 joining fee could surely be outweighed by the card's Jet Airways one-way welcome gift waiver (among other options), a substantial portion of the card's value. Bottom line, get the IndusInd Iconia if you want a very versatile cashback card.

  • Join Fee: Rs 3,500
  • Reward Earn Rate: 1.5 points per Rs. 100 domestic/international weekday spend; 2 points on weekends (excludes fuel)
  • Point Value: 1 point = Rs. 1
  • Perks: 2 free visits/quarter to Amex airport lounge (14 lounges across 7 cities, domestic/international terminals); Rs. 100,000 lost bag insurance, delayed bag, lost passport, lost ticket and missed connection insurances; 20% off hotel rooms, food & beverage across 40 Lemon Tree properties; free golf games & lessons
  • Fuel Surcharge Waiver: Transactions Rs. 400-4000
  • Join Fee: Rs 3,500
  • Reward Earn Rate: 1.5 points per Rs. 100 domestic/international weekday spend; 2 points on weekends (excludes fuel)
  • Point Value: 1 point = Rs. 1
  • Perks: 2 free visits/quarter to Amex airport lounge (14 lounges across 7 cities, domestic/international terminals); Rs. 100,000 lost bag insurance, delayed bag, lost passport, lost ticket and missed connection insurances; 20% off hotel rooms, food & beverage across 40 Lemon Tree properties; free golf games & lessons
  • Fuel Surcharge Waiver: Transactions Rs. 400-4000

Best Cashback Card for High Spenders: Standard Chartered Ultimate Card

Consider this if you can spend enough on the card to make up for the Rs. 5,000 annual fee

Age Requirement 21-65
Annual Income Requirement None listed by issuer
Bonuses
  • Welcome Gift: Up to Rs. 10,000 cashback on MakeMyTrip on tickets booked within 90 days of card issuance

Standard Chartered's Ultimate Card is the best high-spender cashback card in India for earning great value back across all spending categories. First, consumers get an excellent welcome gift of up to Rs. 10,000 cashback on MakeMyTrip tickets booked within the first 90 days of card ownership. On general spend, you'll receive best-in-market 3.33% rupee value back with no exclusions (5 points per Rs. 150 spent; 1 point = Rs. 1 cashback).

The card has great travel perks too, with 4 lounge visits a quarter (Visa program), and you can earn one free Priority Pass visit per month if you reach Rs. 20,000 in monthly spend. Further, you get 5% off duty free purchases and a 2% foreign currency transaction fee, one of the lowest in India. In all, get the Ultimate to earn great cashback on all spending categories along with great perks as a high spender.

  • Annual Fee: Rs. 5,000
  • Reward Earn Rate: 5 points per Rs. 150 spent on all transactions; 5% cashback duty free spend
  • Point Value: 1 point = Rs. 1 cashback
  • Perks: Complimentary Priority Pass membership (USD 27/visit, waived once monthly if last month's spend > Rs. 20,000); Visa Lounge access (4 free visits/quarter, major airports in India); 2 free domestic golf games/month (1 free guest game/month), 1 free golf coaching session/month; air accident cover of Rs. 1 crore, emergency medical, bag delay, loss of bags/personal docs, hijacking and flight delay coverage
  • Annual Fee: Rs. 5,000
  • Reward Earn Rate: 5 points per Rs. 150 spent on all transactions; 5% cashback duty free spend
  • Point Value: 1 point = Rs. 1 cashback
  • Perks: Complimentary Priority Pass membership (USD 27/visit, waived once monthly if last month's spend > Rs. 20,000); Visa Lounge access (4 free visits/quarter, major airports in India); 2 free domestic golf games/month (1 free guest game/month), 1 free golf coaching session/month; air accident cover of Rs. 1 crore, emergency medical, bag delay, loss of bags/personal docs, hijacking and flight delay coverage

Best Cashback Card for Moderate Spenders: HDFC Bank Bharat Card

Consider this if you don't spend a lot on dining

Age Requirement 21-60 (65 if self-employed)
Annual Income Requirement Rs. 144,000 (Rs. 200,000 if self-employed)

HDFC's Bharat Card offers great value back from moderate spending on groceries, fuel, rail, mobile recharge, bill pay, travel and online shopping. As long as you don't exceed the monthly cashback caps, your return on spend for those categories will be an excellent 5% cashback. Additionally, you'll get the same return on EasyEMI (pre-approved loan facility) and PayZapp (payments), if those products appeal to you. Do note that you won't get any cashback on dining, a big category for many, and that you must make Rs. 144,000 per year to get approved. Overall, if you're looking for a great cashback card for moderate spend on most categories outside of dining, go for the Bharat.

  • Annual Fee: Rs. 500 (after 1st year, waived on annual spend Rs. 20,000)
  • Earn Rate: 5% cashback groceries, fuel, IRCTC, mobile recharge, bill pay (max Rs. 150 cashback on sum of 4 categories), HDFC SmartBuy (travel/online shopping), EasyEMI (pre-approved loan facility) & PayZapp (max Rs. 150 cashback on sum of 3 categories); no cashback on other
  • Insurance: Accidental death insurance Rs. 50 lakhs; fire/burglary protection for goods Rs. 5,000+ for 180 days
  • Fuel Surcharge Waiver: Transactions Rs. 400+, max Rs. 250 waived/month
  • Annual Fee: Rs. 500 (after 1st year, waived on annual spend Rs. 20,000)
  • Earn Rate: 5% cashback groceries, fuel, IRCTC, mobile recharge, bill pay (max Rs. 150 cashback on sum of 4 categories), HDFC SmartBuy (travel/online shopping), EasyEMI (pre-approved loan facility) & PayZapp (max Rs. 150 cashback on sum of 3 categories); no cashback on other
  • Insurance: Accidental death insurance Rs. 50 lakhs; fire/burglary protection for goods Rs. 5,000+ for 180 days
  • Fuel Surcharge Waiver: Transactions Rs. 400+, max Rs. 250 waived/month

Best No-Annual Fee Cashback Card: IndusInd Bank Pioneer Legacy Credit Card

Consider this if you don't want to pay an annual fee under any circumstances

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer
Bonuses
  • Welcome Gift: Oberi Hotel or Genesis Luxury vouchers
  • Anniversary Bonus: 6,000 points on Rs. 600,000+ spend within one year from card issuance

An annual fee can be worth paying based on the rewards you get, but IndusInd's Pioneer Legacy is the best cashback option if you definitely want to avoid such fees. The credit card provides great 1% rupee value back on weekday spend (1 point per Rs. 100; 1 point = Rs. 1) and 2% on weekends. Plain and simple, if you want a truly no-fee cashback card, go for this one.

  • Reward Earn Rate: 1 point/Rs. 100 spent on weekdays, 2 points/Rs. 100 spent on weekends (max 20,000 points/month)
  • Point Value: 1 point = Rs. 1 cashback
  • Perks: Complimentary international & domestic lounge access via Priority Pass; Rs. 100,000 lost bag insurance, delayed bag, loss of passport, lost ticket, missed connection coverages
  • Fuel Surcharge Waiver: Transactions Rs. 400 – 4000
  • Reward Earn Rate: 1 point/Rs. 100 spent on weekdays, 2 points/Rs. 100 spent on weekends (max 20,000 points/month)
  • Point Value: 1 point = Rs. 1 cashback
  • Perks: Complimentary international & domestic lounge access via Priority Pass; Rs. 100,000 lost bag insurance, delayed bag, loss of passport, lost ticket, missed connection coverages
  • Fuel Surcharge Waiver: Transactions Rs. 400 – 4000

Best Cashback Card with Annual Fee Waiver: BOB Financial Select Credit Card

Consider this if you spend a minimum of Rs. 70,000 on your card each year

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer
Bonuses
  • Monthly bonus: 1,000 points (worth Rs. 250) on 5 transactions of Rs. 1,000+

The BOB Financial Select Card is one of the most valuable cashback cards in the market, and your annual fee is waived if you clear Rs. 70,000 in annual spend. The card's biggest source of value is its monthly bonus of Rs. 250 (1,000 points; 4 points = Rs. 1) upon 5 transactions of at least Rs. 1,000 within the month. On daily spend, the card nets good 1.25% rupee value back (5 points per Rs. 100 spent) on online shopping, dining and utilities, but its 0.25% back (1 point per Rs. 100) on other spend is below average. Overall, this is one of the most profitable cashback cards as long as you spend enough to receive the monthly bonuses.

  • Annual Fee: Rs. 750 (in first year, waived on Rs. 7,500 spend in 60 days; beyond first year, waived on annual spend of Rs. 70,000)
  • Reward Earn Rate: 5 points/Rs. 100 spent on online shopping, dining and utility bills; 1 point/Rs. 100 spent on all other
  • Point Value: 4 points = Rs. 1
  • Fuel Surcharge Waiver: Transactions Rs. 400 – 5,000 (max Rs. waived 250 per cycle)
  • Annual Fee: Rs. 750 (in first year, waived on Rs. 7,500 spend in 60 days; beyond first year, waived on annual spend of Rs. 70,000)
  • Reward Earn Rate: 5 points/Rs. 100 spent on online shopping, dining and utility bills; 1 point/Rs. 100 spent on all other
  • Point Value: 4 points = Rs. 1
  • Fuel Surcharge Waiver: Transactions Rs. 400 – 5,000 (max Rs. waived 250 per cycle)

Best Cashback Card Against Fixed Deposit: BOB Financial Prime Credit Card

Consider this if you have poor, limited or nonexistent credit history

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer

The BOB Financial Prime is your best cashback option if you need a credit card against fixed deposit. Known as secured credit cards too, they are smart options to build your credit and eventually obtain a more profitable card down the road. The Prime card nets you 1% value back (4 points per Rs. 100 spent; 4 points = Rs. 1) on all your daily spend, a great rate among the secured cards in India, and it also has the lowest deposit requirement of Rs. 15,000. Get this credit card to earn good cashback while you need a card against fixed deposit.

  • Minimum Fixed Deposit: Rs. 15,000
  • Reward Earn Rate: 4 Reward Points per Rs. 100 spent
  • Point Value: 4 Reward Points = Rs. 1
  • Fuel Surcharge Waiver: Transactions Rs. 400 – 5,000; max Rs. 250 waived per month
  • Minimum Fixed Deposit: Rs. 15,000
  • Reward Earn Rate: 4 Rewards Points per Rs. 100 spent
  • Point Value: 4 Reward Points = Rs. 1
  • Fuel Surcharge Waiver: Transactions Rs. 400 – 5,000; max Rs. 250 waived per month

Best Cashback Card for Online Spend: SimplyCLICK SBI Card

Consider this if you like online shopping and food delivery

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer
Bonuses & Promotions
  • Welcome Gift: Rs. 500 Amazon.in gift card
  • Anniversary Bonus: Rs. 2,000 Cleartrip voucher each on annual online spend of Rs. 100,000 and Rs. 200,000
  • Promo: Rs. 100 cashback on first movie ticket with BookMyShow & 40% off UrbanClap for first time users - valid till March 31, 2019

The SBI SimplyCLICK Card is great for online spend, including shopping, groceries, travel, dining, entertainment and more. Specifically, the card provides great 2.50% rupee value back (10 points/Rs. 100 spent; 4 points = Rs. 1) on Amazon, Cleartrip, Foodpanda, BookMyShow, Lenskart and UrbanClap. Its 1.25% value back on other online spend is good, but all other purchases will earn you a below average 0.25% value back. The card's Rs. 500 Amazon welcome bonus nice to get, but the Cleartrip anniversary bonuses will be hard to earn outside of very high online spenders. Apply for this credit card if you want to receive great value back on a multitude of spending categories.

  • Annual Fee: Rs. 499 (after first year, waived on annual spend of Rs. 100,000)
  • Reward Earn Rate: 10 points/Rs. 100 on Amazon, Cleartrip, Foodpanda, BookMyShow, Lenskart, UrbanClap; 5 points/Rs. 100 on other online spend; 1 point/Rs. 100 on all other spend
  • Point Value: 4 points = Rs. 1
  • Fuel Surcharge Waiver: Transactions Rs. 500-3,000 (max waived Rs. 100/month)
  • Annual Fee: Rs. 499 (after first year waived on annual spend of Rs. 100,000)
  • Reward Earn Rate: 10 points/Rs. 100 on Amazon, Cleartrip, Foodpanda, BookMyShow, Lenskart, UrbanClap; 5 points/Rs. 100 on other online spend; 1 point/Rs. 100 on all other spend
  • Point Value: 4 points = Rs. 1
  • Fuel Surcharge Waiver: Transactions Rs. 500-3,000 (max waived Rs. 100/month)

Best Cashback Card for Shopping, Dining & Groceries: FBB SBI STYLEUP Contactless Card

Consider this if you shop at Big Bazaar / Food Bazaar / FBB

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer
Bonuses
  • Welcome Gift: Rs. 500 FBB gift voucher
  • Renewal Gift: 2,000 Reward Points (worth Rs. 500)

The FBB SBI STYLEUP Contactless Credit Card is one of the most valuable in India if you shop within the Big Bazaar family. Its best-in-market shopping rewards come via 10% off purchases at FBB or Big Bazaar outlets, plus an extra 2.5% in rewards (10 points/Rs. 100 spent; 1 point = Rs. 0.25). You'll also earn a great 2.5% rupee value back on all dining expenses as well as from grocery shopping at Food Bazaar (10 points/Rs. 100). Other category spend (except fuel) nets a below average 0.25% rupee value back (1 point per Rs. 100), so get this card primarily for its great cashback on Big Bazaar and dining.

  • Annual Fee: Rs. 499
  • Welcome Gift: Rs. 500 FBB gift voucher
  • Renewal Gift: 2,000 Reward Points
  • Earn Rate: 1 Reward Point per Rs. 100 spent except on Fuel; 10X points and 10% cashback on FBB / Big Bazaar; 10X points on Food Bazaar; 10X points on dining
  • Point Value: 1 Reward Point = Rs. 0.25
  • Fuel Surcharge Waiver: Transaction range Rs. 500 – 3,000
  • Annual Fee: Rs. 499
  • Welcome Gift: Rs. 500 FBB gift voucher (conditions apply)
  • Renewal Gift: 2,000 Reward Points
  • Earn Rate: 1 Reward Point per Rs. 100 spent except on Fuel; 10X points and 10% cashback on FBB / Big Bazaar; 10X points on Food Bazaar; 10X points on dining
  • Point Value: 1 Reward Point = Rs. 0.25
  • Fuel Surcharge Waiver: Transaction range Rs. 500 – 3,000

Best Hybrid Cashback & Miles Card: Standard Chartered Manhattan Platinum Card

Consider this if you spend at least Rs. 1,000 on grocery and department store transactions

Age Requirement 21-65
Annual Income Requirement None listed by issuer
Bonuses
  • Welcome Gift: Rs. 2,000 BookMyShow voucher

Standard Chartered's Manhattan Platinum Card is a great credit card for cashback on groceries and department stores, while also providing points on other spend that are convertible to miles. Moviegoers will appreciate the Rs. 2,000 BookMyShow welcome gift voucher, but the bulk of the card's value is its excellent 5% rupee value back on supermarket and department store spend, as long as you clear Rs. 1,000 per transaction and are aware of the Rs. 150 cashback cap per transaction (max Rs. 500 per month). All other spend earns an average 0.48% rupee value back through 3 points per Rs. 150 spent (100 points = 53 JPMiles = ~Rs. 24). If you can meet the spend constraints, get this card for earning cashback on major spending categories, and miles on your other spend.

  • Annual Fee: Rs. 999
  • Reward Earn Rate: 5% cashback on supermarket & department store spend (Rs. 1,000 min transaction, max Rs. 150 cashback per transaction, max Rs. 500 cashback per month); 3 points/Rs. 150 spent on other spend
  • Estimated Point Value: 100 points = 53 JPMiles = ~Rs. 24
  • Perks: SC Good Life Program (dining, shopping and travel discounts)
  • Annual Fee: Rs. 999
  • Reward Earn Rate: 5% cashback on supermarket & department store spend (Rs. 1,000 min transaction, max Rs. 150 cashback per transaction, max Rs. 500 cashback per month); 3 points/Rs. 150 spent on other spend
  • Estimated Point Value: 100 points = 53 JPMiles = ~Rs. 24
  • Perks: SC Good Life Program (dining, shopping and travel discounts)
Dan Grossman

Dan is a Senior Research Analyst at ValueChampion India, focusing on credit cards. He holds a B.S. in Mathematics & Economics from the University of Michigan, and previously worked in the financial services industry at Capital One and Moelis & Company.