HSBC RuPay Cashback Credit Card Review: 10% on Food, ₹400 Total Cap
The HSBC RuPay Cashback Credit Card pays 10% on dining, food delivery and grocery and 1% on other eligible spends, UPI payments included, but all its cashback together stops at ₹400 a month. The ₹499 plus GST annual fee is reversed above ₹2,00,000 of yearly spend, so it works best as a small, UPI-linked food card for someone in HSBC's 21 cities who already meets its ₹6,00,000 income bar.
Key facts
- Joining fee
- ₹499 + GST
- Annual fee
- ₹499 + GST. Annual fee, including GST, fully reversed if total eligible spend in the anniversary year exceeds Rs 2,00,000
- Base reward
- 1% cashback on all other eligible spends (about 1% value)
- Best category
- Dining, food delivery and grocery: about 10% value
- Lounge
- Domestic: Up to 2 complimentary domestic visits per quarter (card page) International: 2 international visits per year (card page)
- Forex markup
- 3.5% of the amount
- Network
- RuPay
Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.
In short
A handy UPI card for food and groceries, but the ₹400 monthly cap on all cashback holds it to ₹4,800 a year (₹400 x 12), so it suits modest, careful use.
Best for
- People who want 10% back on food and groceries paid by UPI
- Salaried earners on ₹6,00,000 a year or more in HSBC's 21 cities who spend about ₹4,000 a month on food (₹400 divided by 10%)
Skip it if
- Your food and grocery bill is far above ₹4,000 a month
- Fuel, utilities, rent or insurance are your main spends
- You live outside HSBC's listed cities or earn under ₹6,00,000 a year
Highlights
- 10% on dining, food delivery and grocery, 1% on other eligible spends
- All cashback capped at ₹400 a month, per the card page
- Fee ₹499 plus GST; annual fee reversed above ₹2,00,000 a year
- RuPay card that links to UPI for merchant payments
- Forex 3.5%, with a 0% offer until 31 December 2026 or 31 January 2027
A RuPay card that pays most on food, inside a small cap
The HSBC RuPay Cashback Credit Card is open for new applications and is one of two RuPay cards in HSBC's lineup, next to RuPay Platinum, and the only one we review. Only RuPay credit cards can be linked to UPI, so you can scan a shop's QR code and pay from your credit line, and those payments earn cashback same like a card swipe.
It pays 10% on dining, food delivery and grocery and 1% on most other spends. What make or break the card is the ceiling: all cashback, the 10% and the 1% together, stops at ₹400, which the card page says is monthly. ₹4,000 of food spend (₹400 divided by 10%) fills it by itself.
The three things that matter
- At most ₹4,800 comes back in a year (₹400 x 12), however much you spend.
- Joining and annual fees are ₹499 each plus GST; the annual fee, GST include, is fully reversed once eligible spend in the anniversary year goes past ₹2,00,000.
- The income bar is ₹6,00,000 a year salaried or ₹12,00,000 self-employed, and only HSBC's 21 listed cities qualify.
Recent changes
The one dated change in HSBC's papers is a forex offer. Since 15 July 2025 the usual 3.5% mark-up on foreign currency spends is replaced by 0%. The card page says it last until 31 December 2026 and the offer terms say 31 January 2027, so plan trips around the earlier date. HSBC's full lineup sits on our HSBC India hub.
What the RuPay Cashback card costs to keep
The joining fee is ₹499 and the annual fee from year two is ₹499, with GST extra on both, so ₹588.82 each at 18% (₹499 plus ₹89.82). Add-on cards is free.
Will the annual fee come back to you?
HSBC reverses it, GST and all, when eligible spend in the anniversary year exceeds ₹2,00,000, about ₹16,667 a month (₹2,00,000 divided by 12). The fee wording says eligible spend without a list, so leave out fuel, rent, utilities and wallet loads, which earn nothing here anyway. A household that put ₹16,667 a month of groceries, eating out and shopping on it gets there; one using it mainly for bills won't. The joining fee is not part of this reversal.
Interest and late payment
Carrying a balance costs 3.75% a month, 45% a year, from each transaction date. ₹10,000 left unpaid for 30 days comes to about ₹369.86 by the daily formula (₹10,000 x 45% x 30 / 365), nearly a whole month of maximum cashback.
If the Minimum Payment Due hasn't reached HSBC within 3 days of the due date, HSBC charge a late fee equal to that minimum, no less than ₹250 and no more than ₹1,200 a month, plus GST. A missed ₹900 minimum costs ₹900; a missed ₹3,000 minimum is held at ₹1,200.
Cash, forex and special fees
- Cash advance: 2.5%, minimum ₹500, with finance charges from the withdrawal day. ₹8,000 in cash costs ₹500, since 2.5% of it is only ₹200.
- Forex: 3.5% under the MITC and Key Fact Statement, 0% while the offer lasts.
- Rent: 1% processing fee plus taxes, so ₹15,000 of rent costs ₹150 before GST and earns no cashback.
- Fuel: no surcharge waiver, and no cashback either.
- Over-limit 2.5% or ₹500, whichever is higher, plus GST; cash payment at a branch ₹100; bounced cheque or failed NACH ₹500; balance transfer 10.99% to 15.99% a year plus a 1.5% fee, minimum ₹200.
Wallet loads, utilities and education carry no extra fee in HSBC's schedule, they simply earn nothing. Every HSBC charge is exclusive of GST.
HSBC RuPay Cashback: fees and charges
| Joining fee | ₹499 + GST |
|---|---|
| Annual or renewal fee | ₹499 + GST |
| Annual fee waiver | Annual fee, including GST, fully reversed if total eligible spend in the anniversary year exceeds Rs 2,00,000 |
| Add-on card fee | Nil |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | Joining fee INR499; annual fee INR499 (waived if you spend more than INR200,000 per year). Add-on cards free. |
| Interest on unpaid balances | Up to 3.75% a month (45% a year) |
| Late payment fee | 100% of the Minimum Payment Due, minimum Rs 250 and maximum Rs 1,200 a month; charged only if the minimum payment does not reach HSBC within 3 days of the payment due date |
| Cash withdrawal | 2.5% of the amount, minimum Rs 500; finance charge from the date of withdrawal |
| Over-limit fee | 2.5% of the over-limit amount or Rs 500, whichever is higher, plus GST |
| Forex markup | 3.5% of the amount |
| Other fees |
|
How the cashback adds up, and where it stops
Food, grocery and dining earn 10%; anything not on the excluded list earn 1%, and UPI spends follow the same rules. Cashback lands in your card account, so a rupee of it is a rupee off the bill, with no redemption fee and no expiry.
HSBC's service guide caps cashback across both rates at ₹400 without naming a period, while the card page talks of up to ₹400 every month, so we take it as monthly. The cap is shared, which means your 1% spends eat into the same ₹400 that the 10% food spends needs.
No cashback is there on fuel, e-wallets, rent, utilities, insurance, education and government, jewellery, tolls, gambling, charity, money transfers, or cash, foreign currency and crypto. Utilities stand out, as HSBC's Live+ pays 10% on bills.
The welcome offer is ₹500 cashback for logging on to the HSBC app and spending ₹10,000 inside 30 days, more than a full month's cap, plus a 2-month EazyDiner membership and a ₹250 Amazon eGift voucher on an online video KYC application. No milestones follow. Our cashback cards explainer shows how shared caps work.
Three spenders, worked out
| Monthly spend | Light: ₹15,000 | Typical: ₹30,000 | Heavy: ₹60,000 |
|---|---|---|---|
| Dining, food delivery and grocery | ₹2,500 | ₹6,000 | ₹12,000 |
| Other eligible spends, UPI at shops included | ₹8,500 | ₹16,000 | ₹33,000 |
| Excluded: fuel, bills, rent, insurance | ₹4,000 | ₹8,000 | ₹15,000 |
| 10% on food | ₹250 | ₹600 | ₹1,200 |
| 1% on other spends | ₹85 | ₹160 | ₹330 |
| Cashback paid a month | ₹335 | ₹400 (cap) | ₹400 (cap) |
| Cashback a year | ₹4,020 | ₹4,800 | ₹4,800 |
| Annual fee from year 2, with GST | ₹588.82 | Reversed | Reversed |
Light, ₹15,000 a month. ₹250 on food (10% of ₹2,500) plus ₹85 on the rest (1% of ₹8,500) is ₹335 a month, ₹4,020 a year (₹335 x 12). Eligible spend of ₹11,000 a month (₹2,500 plus ₹8,500) is ₹1,32,000 a year, which misses ₹2,00,000, so the fee stays and you keep ₹3,431.18 (₹4,020 minus ₹588.82), a good return for a so small card.
Typical, ₹30,000 a month. ₹600 (10% of ₹6,000) plus ₹160 (1% of ₹16,000) is ₹760, cut to ₹400, so ₹4,800 a year. Eligible spend of ₹22,000 a month (₹6,000 plus ₹16,000), or ₹2,64,000 a year, reverses the annual fee, though the joining fee applies in year one.
Heavy, ₹60,000 a month. ₹1,530 on paper (₹1,200 plus ₹330), ₹400 in practice, which is under 1% of the ₹45,000 eligible spend (₹12,000 plus ₹33,000; ₹400 divided by ₹45,000 is about 0.89%). For a big spender the card make sense only for the first ₹4,000 or so of food, with another card taking the rest.
HSBC RuPay Cashback: higher-reward categories
| Category | Rate | Cap |
|---|---|---|
| Dining, food delivery and grocery | 10% cashback, about 10% value | Total cashback across both categories (10% and 1%) capped at Rs 400, month |
HSBC RuPay Cashback: how rewards work
| Earned as | Cashback |
|---|---|
| Base rate | 1% cashback on all other eligible spends. About 1% value back |
| Minimum spend rules | Not published by the bank |
| No rewards on |
|
| Lower rewards on | None published |
| Value of a point |
|
| Redemption fee | None |
| Expiry | Not applicable |
| Welcome benefits |
|
| Milestone benefits | None published |
| Lounge access | Domestic: Up to 2 complimentary domestic visits per quarter (card page) International: 2 international visits per year (card page) Condition: 10 lounge visits a year on HSBC's card page, 4 (one a quarter) in its service guide |
| Fuel surcharge waiver | No fuel surcharge waiver (KFS: NA); no cashback on fuel |
| Insurance cover | Not listed on the card page |
Eligibility, documents and how to apply
Salaried applicants need to be between 18 and 65 and earn ₹6,00,000 or more a year, which is ₹50,000 a month (₹6,00,000 divided by 12). Self-employed people need to be between 25 and 65, with ₹12,00,000 or more. You also have to live in India in one of 21 cities, from Mumbai, Delhi NCR, Gurgaon and Bengaluru to Kochi, Amritsar, Surat and Trivandrum; our HSBC Visa Platinum review lists all of them. That bar is steep for a ₹499 card, and plenty of entry cards from other banks asks far less.
Documents and applying
The RuPay Cashback page lists no documents. HSBC's Live+ page names the latest salary slip for salaried people, a proof of residence, an identity proof and PAN, so better you keep all four ready. Apply on HSBC's website, by phone or in a branch. Finish the online form with video KYC, a live consent-based video call that the RBI treats on par with an in-person check, and HSBC adds a ₹250 Amazon eGift voucher (offer valid 1 January 2026 to 31 March 2027).
What HSBC weighs up
Meeting the published rules only lets you apply. Under the RBI's 2025 card Directions, HSBC judges what you can repay from your own income and adds up the limits you already has with other lenders. Your credit report matter too; Experian calls a score above 750, on its 300 to 900 scale, generally good. A refusal must come with the specific reasons in writing, and issuing the card is HSBC's call alone.
HSBC RuPay Cashback: eligibility and documents
| Age (salaried) | 18 to 65 years |
|---|---|
| Age (self-employed) | 25 to 65 years |
| Income (salaried) | Minimum Rs 6,00,000 a year |
| Income (self-employed) | Minimum Rs 12,00,000 a year |
| Other conditions | Indian resident living in one of: Chennai, Gurgaon, Delhi NCR, Pune, Noida, Hyderabad, Mumbai, Bengaluru, Kochi, Coimbatore, Jaipur, Chandigarh, Ahmedabad, Kolkata, Amritsar, Baroda, Indore, Lucknow, Nagpur, Surat or Trivandrum. minIncomeMonthly is the annual salaried figure divided by 12. |
| Documents |
|
| How to apply | Online on hsbc.bank.in with video KYC (an Rs 250 Amazon eGift voucher is offered for online applications completed with video KYC, 1 Jan 2026 to 31 Mar 2027), by phone, or at a branch. Premier card only for HSBC Premier banking customers via branch or 1800 120 4722. |
| Card customer care | 1800 267 3456 / 1800 121 2208 (personal banking and credit cards, toll free, 6.30 am to 8.30 pm); Premier 1800 266 3456 / 1800 120 4722 (24x7) |
These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.
Who should carry it, and who shouldn't bother
The best user wants one UPI card for the daily food run: the kirana, the supermarket, the weekend dinner order. At around ₹4,000 a month nearly all of it earns the full 10%, and small 1% spends fill what is left under ₹400. Since UPI works only with RuPay cards, this card let you earn on QR payments that HSBC's Visa and Mastercard cards can't reach. Merchant payments only, though: no transfers to people and no cash.
The trade-off is the ceiling. HSBC's own Live+ goes up to ₹1,200 a month on a wider list, utilities included, for ₹999. If food and bills together runs well past ₹10,000 a month and you don't need UPI, it will earn more even after the higher fee.
Skip it if fuel, rent, insurance or bills are your big spends, or if you carry balances, since ₹10,000 rolled over for 30 days costs about ₹369.86. The 0% forex is a offer, not a feature, ending by 31 January 2027 at the latest. And on lounges, HSBC's card page lists up to 2 domestic visits a quarter plus 2 international a year, 10 in all (2 x 4 plus 2), while its service guide says 4, one a quarter: count on 4 until HSBC confirms more.
Pros
- 10% cashback on dining, food delivery and grocery, credited straight to the card account
- Works on UPI as a RuPay card, and UPI spends earn the same cashback
- Annual fee of ₹499 plus GST reversed when eligible spend in the anniversary year exceeds ₹2,00,000
- 0% forex offer until 31 December 2026 per the card page, or 31 January 2027 per the offer terms
- Free add-on cards and ₹500 welcome cashback for spending ₹10,000 in the first 30 days
Cons
- All cashback, 10% and 1% together, capped at ₹400 a month, so ₹4,800 a year at most
- No cashback on utilities, fuel, rent, insurance, wallet loads or education
- Income bar of ₹6,00,000 a year salaried and ₹12,00,000 self-employed, high for a ₹499 card
- Open only to residents of 21 listed cities
- 3.5% forex mark-up once the offer ends, and no fuel surcharge waiver
RuPay Cashback against three cards with the same aim
HSBC Live+
The HSBC Live+ Credit Card is the bigger sibling: 10% on dining, food delivery, grocery, shopping and utilities up to ₹1,200 a month and 1.5% on most other spends, for ₹999 plus GST reversed above ₹2,00,000. Forex is 1.99%, with 2 domestic and 1 international lounge visit a year. As a Visa card, it can't be used on UPI.
Kotak Cashback+
Kotak's Cashback+ card gives 5% on online food delivery, online grocery and online entertainment and 3% on fuel under one ₹750 cap per billing cycle, then 0.5%. The fee is ₹750 plus GST, waived at ₹2 lakh. A RuPay variant exist, but UPI spends on it earn just 0.5% even in the 5% groups; forex is 3.5% and no lounge is published. Its cap is close to double of HSBC's ₹400.
HDFC Bank UPI RuPay
The HDFC Bank UPI RuPay Credit Card costs ₹99 plus GST, waived from year two on ₹25,000 of annual spend. Grocery, dining and PayZapp earn 3% in CashPoints, utilities 2% and the rest 1%, each capped at 500 CashPoints a calendar month, and a CashPoint is worth ₹0.25, so each part tops out at ₹125 (500 x ₹0.25). Virtual-only, 3.5% forex, and no lounge also.
Which one to pick
Take RuPay Cashback for 10% on food over UPI at about ₹4,000 a month, Live+ if your food and bills are bigger and UPI doesn't matter. Kotak Cashback+ suit online-ordering homes that also buy fuel, and the HDFC card is the cheapest UPI option. See our UPI credit cards guide, the card finder or the credit cards hub.
HSBC RuPay Cashback against similar cards
| Term | HSBC RuPay Cashback Credit Card This card | HSBC Live+ Credit Card | Kotak Cashback+ Credit Card | HDFC Bank UPI RuPay Credit Card |
|---|---|---|---|---|
| Bank | HSBC India | HSBC India | Kotak Mahindra Bank (Kotak) | HDFC Bank |
| Joining fee | ₹499 + GST | ₹999 + GST | ₹750 + GST | ₹99 + GST |
| Annual fee and waiver | ₹499 + GST. Annual fee, including GST, fully reversed if total eligible spend in the anniversary year exceeds Rs 2,00,000 | ₹999 + GST. Annual fee, including GST, fully reversed if total eligible spend across primary and add-on cards in the anniversary year exceeds Rs 2,00,000 | ₹750 + GST. Annual fee waived on minimum retail spend of ₹2 lakh in a year | ₹99 + GST. Spend ₹25,000 or more annually before the renewal date and get a renewal fee waiver from the second year onwards. |
| Base reward | 1% cashback on all other eligible spends (about 1% value) | 1.5% unlimited cashback on most other spends (exclusions apply) (about 1.5% value) | Unlimited 0.5% cashback on other eligible spends (about 0.5% value) | 1% CashPoints on other spends, up to 500 CashPoints a calendar month (about 1% value) |
| Best category | Dining, food delivery and grocery: about 10% value | Dining, food delivery, grocery, shopping and utility spends: about 10% value | Online food delivery and online grocery: about 5% value | Groceries and supermarkets, dining and all PayZapp transactions: about 3% value |
| Lounges | Domestic: Up to 2 complimentary domestic visits per quarter (card page) International: 2 international visits per year (card page) | Domestic: 2 complimentary domestic lounge visits a year, limited to 1 visit every 6 months International: 1 complimentary international lounge visit a year (from 1 September 2026) | Not published by the bank | Domestic: None International: None |
| Forex markup | 3.5% of the amount | 1.99% of the amount | 3.5% of the amount | 3.5% of the amount |
| Network | RuPay | Visa | Visa, RuPay | RuPay |
| Published minimum income | ₹50,000 a month | ₹50,000 a month | Not published by the bank | ₹35,000 a month |
| Status | Taking applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
What is the annual fee on the HSBC RuPay Cashback card, and when is it reversed?
How much cashback can I earn on the HSBC RuPay Cashback card in a month?
Who is eligible for the HSBC RuPay Cashback Credit Card?
Does the HSBC RuPay Cashback card come with lounge access or a forex offer?
What has changed on the HSBC RuPay Cashback card recently?
Can I use the HSBC RuPay Cashback card on UPI, and does UPI earn cashback?
Related
- HSBC India Credit Cards 2026: Live+, TravelOne, Premier and RuPay
- HSBC Live+ Credit Card Review: 10% Cashback Capped at ₹1,200 a Month
- Kotak Cashback+ Credit Card Review: 5% Cashback Under a ₹750 Cap
- HDFC Bank UPI RuPay Credit Card Review: ₹99 Fee, Points Worth 25 Paise
- Best UPI Credit Cards in India 2026: RuPay Cards That Pay Back
Sources
- The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India): Most Important Terms and Conditions - HSBC RuPay Platinum and RuPay Cashback; HSBC Credit Card Key Fact Statement; HSBC RuPay Cashback Credit Card Service Guide; HSBC RuPay Cashback Credit Card; HSBC RuPay Cashback Credit Card (footnote); HSBC RuPay Credit Card FAQ; Contact HSBC
Last verified: 5 November 2026
Written by Anjali Bhargawa, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.