Top credit cards with best cashback deals

When you buy something using a cashback credit card, you get a percentage of the amount it costs as a form of cashback. Credit card providers credit the amount you earn into your account which is reflected in your credit card statement every month.

ET Wealth Online lists credit cards from the top banks in India (based on RBI’s data on credit cards outstanding as of September 2023 ) offering the best cashback deals. Do note that these are not ranked in any particular order; the information is based on what is available on the bank websites collected on November 21, 2023.


HDFC Bank MoneyBack Credit Card

Key cashback and rewards

  • Earn 2 Reward Points on every Rs 150 spent (Excluding fuel transaction, wallets loads/prepaid card loads & voucher purchases)
  • Earn 2X Reward Points i.e. 4 Reward Points on every Rs. 150 spent online*
  • Every quarter, get a gift voucher worth Rs. 500 on spends of Rs 50,000. Earn up to Rs. 2,000 worth gift vouchers in a year.
  • Reward Points accumulated on HDFC Bank MoneyBack Credit Card can be redeemed against statement balance at the rate 1 RP = Rs 0.20
  • 500 Cash Points (applicable only on payment of membership fee).


  • Joining/Renewal Membership Fee – Rs. 500/- + Applicable Taxes. Spend Rs 50,000 and above in the first year and get renewal membership fee waived off

Also read: Top credit cards with airport lounge access

Also read: Top lifetime free credit cards with no annual fee, joining fee

Millennia Credit Card New

Key cashback and rewards

  • 5% Cashback on Amazon, BookMyShow,, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato
  • 1% cashback on all other spends (except Fuel) including EMI & Wallet transactions
  • Rs 1000 worth gift vouchers on spends of Rs 1,00,000 and above in each calendar quarter
  • Upto 20% discount on partner restaurants via Swiggy Dineout
  • The redemption against the statement balance will be at the rate of 1 CashPoint = Rs 1


  • Joining/Renewal Membership Fee – Rs 1,000/- + Applicable Taxes
  • Spend Rs 1,00,000 or more in a year, before your Credit Card renewal date and get your renewal fee waived off .

State Bank of India (SBI)

Cashback SBI Card

Key cashback and rewards

  • 5% Cashback on online* spends without any merchant restriction
  • 1% Cashback on offline* spends
  • Cashback not applicable on Merchant EMI & Flexipay EMI transactions and on following categories: Utility, Insurance, Fuel, Rent, Wallet, School & Educational Services, Jewelry, Railways etc.. .
  • Card Cashback will be auto-credited to your SBI Card account within two working days of your next statement generation.


  • Joining Fee (one-time): Rs. 999. Renewal Fee (Per Annum): Rs. 999 from second year onwards. Renewal Fee reversed if annual spends for last year >= Rs. 2,00,000.

Also read: Top fuel credit cards with most cashback, discounts, rewards

Axis Bank

Axis Ace Credit card

Key cashback and rewards

  • 5% cashback on utility bill payments, DTH and mobile recharges via Google Pay
  • 4% cashback on Swiggy, Zomato and Ola
  • 2% cashback on all other eligible spends


  • Rs 499. Joining fee waived off on spends greater than Rs 10,000 withing 45 days of card issuance. Annual fee of Rs 499 is waived off on annual spends of Rs 20,000.

Flipkart Axis Bank credit card

Key cashback and rewards

  • 5% cashback on Flipkart
  • 1.5% Cashback on Myntra, Flipkart Health and Flight & Hotel payments on Flipkart
  • 1.5% on all All Other Merchants
  • 4% cashback on Preferred Merchants (Cleartrip,, PVR, Swiggy, TATA PLAY, Uber)


  • Joining fee is Rs 500. Annual fee from second year is Rs 500 and waived off on spends greater than Rs 3,50,000.

Amazon Pay ICICI Bank credit card

Key cashback and rewards

  • No limit or expiry date on the rewards earned using this card
  • Earn 5% cashback on your spends on Amazon India if you are a member of Amazon Prime.
  • Earn 3% cashback on your spends on Amazon India even if you are not a member of Amazon prime.
  • Use this card on Amazon Pay and earn 2%cashback on payments
  • Earn 1% cashback on your other expenses such a shopping dining, insurance payments, travel and much more.
  • Reward earnings can be used to purchase from over 10 crore products at and at more than 100 Amazon Pay partner merchants.
  • No cost EMI – 3&6 month on
  • 1 Reward point = 1 Rs ( automatically credited as Amazon Pay Balance )
  • You get a waiver of 1% on fuel surcharge payments each time you refuel.


  • No joining fee or annual fee

Standard Charted India

Standard Charted Manhattan Credit Card Benefits

Key cashback and rewards

  • Get 5% cashback at supermarkets
  • Get 3x rewards when you use your credit card for all other expenses
  • Redeem Reward points for exciting products at the 360 Degree Rewards portal


  • Joining fee: INR 999+GST. Joining Benefits: 5000 Reward Points on payment of Joining Fees
  • INR 999+GST (2nd year onwards). Renewal Benefits: Renewal fee reversed on spends greater than INR 120,000 in the previous year

Citibank India

Citi Cash Back Credit Card

Key cashback and rewards

  • Savings on your everyday spends
  • 5% cashback on movie ticket purchases^
  • 5% cashback on telephone bill payments^
  • 5% cashback on utility bill payments^
  • 0.5% cashback on all other spends.
  • Hassle-free redemption
  • Get your cashback in multiples of ?500 automatically credited to statement
  • Get benefits worth Rs. 3,600 in first year.

YES Bank

YES Prosperity Cashback Credit Card

Key cashback and rewards

  • Welcome Cashback of INR 250
  • Get up to 5% cashback on your movie ticket bookings and grocery shopping
  • Get cashback of INR 250 on spends of INR 2,500 in first 30 days of card set up
  • 1% surcharge waiver for transaction between INR 400 – INR 5,000


  • First Year Membership Fee of INR 999 + Applicable Taxes
  • Renewal Membership Fee of INR 999 + Applicable Taxes

HSBC India

HSBC Cashbank Credit Card

Key cashback and rewards

  • 10% accelerated cashback on all dining, food delivery and grocery spends (capped up to INR1,000 per billing cycle)
  • 1.5% unlimited cashback on all other spends (exclusions apply)*
  • 4 complimentary domestic lounges per year(1 per quarter)


  • Joining fees of Rs 999. Annual membership fees Rs 999 (to be reversed if your total annual spend exceeds INR200,000)

(Writer can be contacted on sneha(dot)kulkarni(dot)@timesinternet(dot)in)

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