HSBC RuPay Cashback Credit Card

HSBC India · Open to apply

A RuPay cashback card for UPI: 10% on dining, food delivery and groceries and 1% on other spends, with total cashback capped at ₹400 a month. ₹499 annual fee, waived at ₹2 lakh of yearly spend.

Annual fee
₹499 + GST a year
Joining fee
₹499 + GST
Fee waiver
Annual fee waived on ₹2,00,000 spend per card year
Base rate
Other eligible spends, 1% cashback: 1% cashback (about 1% at cash value)
Lounges
Domestic: 2 visits a calendar quarter; International: 2 visits a calendar year
Forex markup
0%
Data
From bank documents, checked 6 Nov 2026

Main earn rates

  • Dining, food delivery and groceries, 10% cashback: 10% cashback (about 10% at cash value)

Earns nothing on

  • No cashback on fuel, rent, education, government, insurance, wallets, cash, gambling and jewellery
  • No cashback on tolls and business-to-business merchants
  • No cashback on Instant EMI transactions

Where the sources disagree

  • Lounge visits: The product page gives 2 local visits a quarter and 2 international visits a year ("10 airport lounge visits"); the service guide says "four complimentary lounge access, one per quarter". The Live+ card's lounge benefit was cut on 2026-09-01, so this one may follow. We use the product page, the more recent statement (the service guide PDF was produced in February 2026), and the lounge conditions behind its list link were not read.
  • Annual fee waiver threshold: The Key Fact Statement says the fee is waived "for annual spends of ₹200,000 or more"; the MITC says the fee is reversed if eligible spend "exceeds ₹200,000" and the page "if you spend more than INR200,000". We use ₹200,000 with the MITC's wording.
  • Monthly cashback cap period: The service guide says "Cashback across both categories is capped at INR 400" without a period; the page says "Earn up to INR400 on your spending every month". We model a calendar month; the statement cycle is also possible.
  • End of the 0% forex offer: The product page says 0% until 31 December 2026; the offer T&C says valid to 31 January 2027 (both dates inclusive). We use the T&C.

Terms the calculator does not value

  • The ₹500 welcome cashback cannot be combined with another welcome offer; the calculator adds the Amazon eGift voucher as well, so the first year may be overstated by ₹250.
  • The service guide also zero-rates charity (8398, 8641), collection agencies (7322) and wholesale clubs (5300), and its business-to-business MCC list is longer than our business-services category models; these are not entered as rules (no matching category; 5300 sits in online shopping).
  • The lounge visit conditions (spend needed, networks, guests) were not read from the lounge list the page links.

Sources

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