Today we will talk about what are the best cashback credit card in India using which you can save a lot of money!
Banks these days know it well how to keep their customers on track through various rewards and cashback in the form of reward points. You can simply redeem the reward points as per your convenience in the selected places. It is essentially an accurate portion of the total purchase that makes it attributed as cashback.
Nonetheless, diverse financial institutions offer varying rewards and plans for several types of credit card users. Determining the right credit card for you can be a critical task and is based on various determinants like the cashback feature being one of the crucial components to be thought of analytically when you decide on the right credit card for you.
10 Best Cashback Credit Card in India 2020
This article would surely help you to find out the Best Cashback Credit Cards in India, that will guide and assist you in making the right decision. The highest and the most reliable cashback proposals offered on the credit cards are mentioned below:
1.American Express Payback Credit Card
Are you looking for a reward paying credit card which has its association with various departmental stores providing plenty of discounts across the nation? If the answer is yes, the American Express Payback Credit card suits your needs perfectly.
Be it dining, online purchasing, fuel concessions, or exciting welcome rewards.
- As you spend Rs. 100 you earn 3 payback points(excluding insurance, services, fuel and other types of cash transactions)
- There are 40 payback partners, hence more scope of earning rewards.
- You get exclusive welcome vouchers of Rs. 3000.
- Moreover, you can get the added benefit of 900 bonus points by spending Rs. 15000 or more in the first 60 days through this credit card.
- With the help of your credit card, you can find great travel, dining, and shopping deals.
- Using the American Express Payback Credit Card can make you earn discounts between 5% to 30% depending upon the outlet and also cashback every time you go out for a dine out on beyond 1200 restaurants.
- You will get offers on booking travel tickets through MakeMyTrip.com.
2.Citibank Cashback credit card
Are you the one who would avoid paying your bill standing all that while in a line and save time by doing so online?? Or in any case, you are a movieholic and can’t miss on them? Then the Citibank cashback credit card is a suitable choice since it offers cashback on settling bills and paying for other services online. It can be beneficial for you if you spend up to Rs. 2000 on online transactions.
Nevertheless, people need to be careful while applying for the Citibank Cashback credit card as the bank demands a real-time history as the statistics reveal that almost 80% of applications get rejected due to low credit scores. This card is actually worth the effort as It gives various reward and allowances. Also, the credit card does not require you to pay any joining fees. You also get an annual fee waiver if your annual spending exceeds Rs.30000.
- On movie ticket purchases, you can easily earn 5% cash back each time you do so.
- You get a 5% cashback on payments like electricity bills and other such utility bills.
- Earn 5% cashback on paying your postpaid phone bills.
- You are also entitled to 0.5% cashback on other spendings.
- Users can convert their big purchases into easy EMIs.
- 100 per month is the maximum cashback you can earn for each category as said in the above points.
- Applicants must be above 21 years and below 65 years of age.
- Indian citizens only can apply for this card.
- Customers must have a regular source of income.
- He/she should not have defaulted on payments.
Fees and charges:
| Particulars | Amount |
| Annual Fee | Rs. 500 |
| Cheque/ECS/ACH bounce charge | Rs. 500 per returned instrument |
| Extended Credit Charges | Ranges between 37.20% to 42.00% per annum |
| Outstation Cheque Charge (based on the value of the cheque) |
|
| Reissue of lost, stolen or damaged card | Rs. 100 |
| Cash Advance Charges | 2.5% of the amount/Min. Rs. 500. $7.5 at International ATMs |
| Railway ticket booking surcharge | 1.8% of the transaction value |
| Fuel transaction charge | 1% of the transaction amount, subject to a minimum of Rs. 10. Waived at Indian Oil Corporation outlets for transactions on Citi EDCs (electronic data capture terminals). |
| Overlimit Charges | 2.5% of the amount (excluding fees, charges and taxes) over the credit limit, subject to a minimum of Rs. 500. |
| Late Payment Fee |
|
3.HDFC MoneyBack Credit Card
Generally, Every HDFC account holder has an option to get the Moneyback credit card as it is the most basic credit card offered by HDFC bank.
The most highlighted characteristic of a MoneyBack card is that reward points are redeemable for cash. For instance, 1000 redeemable points are equal to a credit of Rs. 200.
Its other advantages include significant savings like 0.53% on your online transactions and 0.27% on any sorts of other transactions.
The Annual Fee of the card is as minimum as Rs. 500. Also, you could get next year’s annual fee waiver by spending Rs 50,000 in that particular year.
Reasonable Annual Saving
- On the expenditure of Rs. 1 Lakhs you can save Rs 4260.
- Every time you spend Rs 150, you earn 2 reward points.
- While in case you spend Rs 150 online, you receive 4 reward points.
- Redeem reward points for cash (100 reward points = Rs.20).
- Minimum 2,500 points are required for redemption.
- Accidental death insurance worth Rs.50 lakh.
- Making retail purchases of Rs. 50,000 or above every quarter you will get a gift voucher worth Rs. 500.
Thus this card is basically designed keeping shoppers need in mind. A lot of shopaholics get attracted to this credit card because of low maintenance and high rewards.
- Applicant should be either self-employed or salaried.
- For salaried the age range is 21 to 60 years.
- For self-employed, it is 21 to 65 years.
- The applicant should have a good credit history and a stable flow of income.
- Must have a regular source of income with a minimum monthly take home of Rs. 13,000 per month.
- Both Resident Indians and NRIs can apply for HDFC Bank MoneyBack credit card.
Fees & Charges:
| Type of Fee/Charge | Amount |
| Annual Fee/Renewal Fee | Rs. 500 + GST |
| Cash Advance Charges | 2.5% of the amount withdrawn or Rs. 500 whichever is higher |
| Add-on Card Fee | Nil |
| Over limit Charges | 2.5% of over limit amount, subject to a minimum of Rs. 500 |
| Railway Ticket Purchase Fee | 1.8% of the transaction amount + GST |
| Reissue of Lost, Stolen or Damaged Card | Rs. 100 |
| Payment Return Charges | 2% of Payment amount subject to a minimum of Rs. 450 |
| Cash Processing Fee | Rs. 100 (for all card payments made by depositing in HDFC Bank branches or ATMs) |
| Balance Transfer Processing Charges | 1% of BT amount or Rs. 250, whichever is higher |
| Late Payment Charges | For Statement Balance:
|
4.ICICI Instant Platinum Card
The first time users of ICICI Bank get the offer to avail the Instant Platinum Card. This does not consider how your credit score and history has been, and hence, as a new user, you make your history as you start using the credit card. The fixed deposit initiated with the bank could be used as a guarantee to get this credit card. Thus it is a prerequisite to have a savings account with the bank. For somebody with no payroll such as students and homemakers, ICICI Instant Platinum Card stands out as the greatest cashback credit card.
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- With every spend of Rs. 100 from the card you get 2 cashback points.
- On booking from www.bookmyshow.com, you get 2 tickets free every month.
- 15% off on dining over 800 outlets associated with the bank situated across 10 different cities.
- On a minimum spend of Rs. 4000 at any HPCL petrol pump, you get 2.5% fuel surcharge waiver.
- Simple admittance to global card replacement and also really fast and responsive emergency support facilities.
Fees and Charges:
| Fee/Charge | Amount |
| Joining Fee | Nil |
| Annual Fee | Nil |
| Supplementary Credit Card Fee | Nil |
| Overdue Interest on Extended Credit and Cash Advances | 2.49% per month (29.88% annualised) |
5.SBI Simply Click Credit Card
In case you do not prefer making an annual fee payment SBI simply click credit card is an excellent opportunity for regular shoppers. If you spend Rs 1 lakh or more from the card, your annual charge cancels out. These cards are also qualified for special transactions on online stores such as Flipkart, Amazon, MakeMyTrip, and Clear trip.
- Gain 10x Reward point on buying with online stores such as Amazon, BookMyTrip, Fabfurnish, Ola, Foodpanda, Zoom car, Lenskart, etc.
- You get 5x reward points by buying things from any other website.
- You also get the Amazon worth voucher Rs. 500.
- Simply wave your card at a secured reader and your transaction is done.
- Users can transfer the outstanding balance from other credit cards into SBI SimplyCLICK.
- Users can get add-on cards for their family member.
- Get 1% fuel surcharge waiver for each transaction between Rs. 500 and Rs. 3000.
- After spending Rs. 1 lakh, you not only get away with the annual pays, but it also earns you a Cleartrip voucher worth Rs. 2000.
Fees and Charges: Citibank premier miles credit card is no less than a blessing for its clients who travel on a frequent note. From booking your travel tickets to shopping online, you can easily get a wide range of discounts and offers through this credit card. You also get the privilege to access airport lounges on both domestic and international airports, if you happen to spend 2 lakhs every year on your travel. However, customers should have a good credit score because the bank rejects a huge number of applications each year. Fees and Charges: With HDFC, you can use a credit card that perfectly fits the need of a shopper. To enjoy special deals on dining, departmental stores, and online shopping. You can easily avail the amazing offers, and all you need to pay is a nominal joining fee. Fees and Charges: In case you are looking for a credit card that fulfills your multi-purpose credit needs the Standard Chartered Platinum credit card may be the best choice for you. It makes the right decision for salaried individuals as they look forward to earning cashbacks on grocery purchases. By making a purchase of minimum Rs.1000 in the first month, you can save Rs.500 limited to Rs.150 per transaction. Also shopping from stores like Reliance Fresh, Big Bazaar, More, Food Bazaar you get 5% cashback. Fees and Charges: Unlike other cards, the American Express offers Membership Rewards Credit Card is a type of credit card that can be used for a varied range of things to earn the benefit. You can make different kinds of payments using your credit card. It happens to be the best option for people who don’t give much time and thought before spending as there is no credit limit making it a compliant choice. For all transactions of Rs. 50 you get 1 reward point except for any purchases in utilities, fuel, insurance, and cash transactions. Note that the annual charges for the credit card are more than other credit cards. Recommended: 11 Best Forex Cards in India 2020 Fees and Charges: Every credit card user seems to love rewards and cashbacks, therefore for them the Standard Chartered Super Value Titanium Credit Card seems to be an excellent option that can help them earn cashback on fuel, on their telecom payments as well as on their utility bills. Apart from these specific needs, there isn’t much a credit cardholder asks for. Fees and Charges: The above-mentioned credit cards qualify for the best cashback credit card in India as they are full of cashback offers that can help you save a lot of your hard-earned money. The most important fact that you need to pay attention to while choosing the right credit card for yourself is that you need to consider all the other factors that are important to look at before owning the credit card and not just the cashback.
Fee/Charge
Amount
Annual Fee
Rs. 499
Renewal Fee
Rs. 499 (reversed if annual spends for last year equals to or exceeds Rs. 1,00,000)
Add-on Fee (per annum)
Nil
Extended Credit Interest-Free Credit Period
20-50 days, applicable only on retail purchases and if previous month’s outstanding balance is paid in full
Extended Credit Charges
Up to 3.35% per month, accounting to 40.2% per annum, from the date of transaction
Extended Credit Minimum Amount Due
5% of Total Outstanding (Min. Rs. 200 + all applicable taxes + EMI (In case of EMI based product) + OVL amount (if any)
Cash Advance limit
Up to 80% of the credit limit, maximum Rs. 12,000 per day
Free Credit Period
Nil
Cash Advance Charges
Up to 3.35% per month accounting to 40.2% per annum from the date of withdrawal
Cash Advance Fee (SBI or Other Domestic ATMs)
2.5% of withdrawal or Rs. 300 per transaction, whichever is higher
Cash Advance fee International ATMs
3.0% of withdrawal or Rs. 300 per transaction, whichever is higher
Overlimit Charges
2.5% of over-limit amount subject to a minimum of Rs. 500
Late Payment Fee
6.Citibank PremierMiles Card
Credit Card Fee Type
Charges
Annual fee
Rs.3,000 (Complimentary for Citigold customers)
Supplementary card fee
Nil
Interest rate
3.1% to 3.5% per month or 37.20% to 42% per annum
Cash advance fee
2% for domestic withdrawal with a minimum amount of Rs.300.
Late payment fee
Rs.100 per month
Over credit limit fee
2.5% of the over limit amount, subject to a minimum of Rs.500
Cheque return or bounce fee
Rs.350 per return
Statement request fee
Nil
Railway ticket booking surcharge
1.8% of the transaction value
Re-issue of the card
Nil
Cash payment fee (over the counter)
Rs.100 per deposit
Cash payment at ATMs
Rs.50 per payment
Foreign currency transaction fee
3.5%
7.HDFC Solitaire Credit Card
Type of Fee or Charge
Amount
Annual/Renewal Fee
Rs. 500
Cash Advance Fees
2.5% of the amount/Min. Rs. 500
Late Payment Charges
For Statement Balance
Less Than Rs. 100 – Nil
Rs. 100 to Rs. 500 – Rs. 100
Rs. 501 to Rs. 5000 – Rs. 500
Rs. 5000 to Rs. 10000 – Rs. 600
Rs. 10001 to Rs. 25,000 – Rs. 800
Amount over Rs. 25,000 – Rs. 950
Additional Card Fee
Nil
Charges on Revolving Credit
3.49% per month or 41.88% p.a.
Over limit Account Charge
2.5% of amount/ Min. Rs. 500
Payment Return Fee
2% of amount/ Min. Rs. 450
Cash Processing Fee
Rs. 100
Reward Redemption Fee
Rs. 99 per request
Balance Transfer Processing Charge
1% of BT amount / Min. Rs. 250
Reissue of Credit Card
Rs. 100
Foreign Currency Mark-up Fee
3.50% of the amount
8.Standard Chartered Platinum Credit Card
Fee Type
Amount
Annual Fee
Rs. 250
Annual Fee ( second year onwards)
Rs. 250
Add-on Fee (per annum)
Nil
Free Credit Period
Nil
Cash Advance (ATM withdrawals)
3% of withdrawal or Rs. 300 per transaction, whichever is higher
Overlimit Charges
2.5% of overlimit amount subject to a minimum of Rs. 500
Late Payment Fee
Rs. 100 for statement outstanding balance between Rs. 100 and Rs. 500
• Rs. 500 for statement outstanding balance between Rs. 501 and Rs. 5,000
• Rs. 700 for statement outstanding balance between Rs. 5,001 and Rs. 15,000
• Rs. 800 for statement outstanding balance greater than Rs. 15,000
Surcharges
Rs. 10 or 1% of transaction (whichever is higher) are livied on Petrol transactions. Rs. 25 or 2.5% (whichever is higher) are levied on Railway station
Goods and Services Tax (GST)
GST is levied on all taxable supplies
9.American Express Membership Rewards Credit Card
Particulars
Amount
Annual Fee
₹ 1,000 plus applicable taxes
Renewal Fee
₹ 4,500 plus applicable taxes*
Add-on Fee (per annum)
Nil for up to 2 add-on cards
Interest-Free Period
52 Days
Finance Charges
3.5% per month
Surcharge on Purchase of Railway Ticket
1.8% of the transaction value if booked on the internet (IRCTC) subject to a minimum of ₹ 10
Record of Charge/ Summary of Charge Retrieval Fee
₹ 100 per Retrieval
Cash Advance Charges
3.5% of the Cash Advance amount, subject to a minimum of ₹ 250
Duplicate Statement Fee
₹ 100 per statement for statements older than 3 months
Cheque/ECS/NACH Return Fee
₹ 250 per Returned Instrument
Overlimit Charges
₹ 500
Foreign Currency Transactions
Currency Conversion Factor Assessment: 3.50%
Points/Miles Reinstatement Fee
₹ 200 per reinstatement
10.Standard Chartered Super Value Titanium Credit Card
Fee Type
Amount
Annual Fee
Rs. 750
Annual Fee ( second year onwards)
Rs. 750
Add-on Fee (per annum)
Nil
Free Credit Period
Nil
Cash Advance (ATM withdrawals)
3% of withdrawal or Rs. 300 per transaction, whichever is higher
Over limit Charges
2.5% of overlimit amount subject to a minimum of Rs. 500
Late Payment Fee
Rs. 100 for statement outstanding balance between Rs. 100 and Rs. 500
• Rs. 500 for statement outstanding balance between Rs. 501 and Rs. 5,000
• Rs. 700 for statement outstanding balance between Rs. 5,001 and Rs. 15,000
• Rs. 800 for statement outstanding balance greater than Rs. 15,000
Surcharges
Rs. 10 or 1% of transaction (whichever is higher) are livied on Petrol transactions. Rs. 25 or 2.5% (whichever is higher) are levied on Railway station
Goods and Services Tax (GST)
GST is levied on all taxable supplies
