HSBC RuPay Cashback Credit Card
The HSBC RuPay Cashback is the UPI/RuPay version of HSBC's cashback line — 10% on dining, food delivery and groceries, a narrower basket than the Visa Live+ since that card added shopping and utilities on 26 July 2026, but built to be linked to PhonePe, Google Pay or Paytm and spent straight from a UPI app. It costs ₹499 a year (waived at ₹2 lakh of spend), pays 10% on the dining/delivery/grocery basket and 1% on everything else under a combined ₹400-per-month cashback ceiling, and adds something the Visa Live+ does not — up to 10 airport lounge visits a year (2 domestic per quarter plus 2 international). The trade-off versus Live+ is a tighter cap (₹400 vs ₹1,200) and a lower base rate (1% vs 1.5%), so it suits a lighter spender who values UPI-on-credit and the lounges over raw cashback headroom. A 0% forex promo ran until 31 July 2026; it is now a standard 3.5%-forex card, so keep it for domestic UPI and the quick-commerce basket.
Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹250 in vouchers, points or cashback on card activation
10% on Dining
10% on dining and food delivery — ₹400 is the combined monthly ceiling across the 10% and 1% categories
10% on Groceries
10% on groceries — ₹400 is the combined monthly ceiling across the 10% and 1% categories
️ Airport Lounge Access
2 complimentary visits per quarter at domestic and international airport lounges
Annual Fee Waiver
Fee of ₹499 + 18% GST (₹589 all-in)/yr fully waived when you spend ₹2,00,000/year
UPI Linked
Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Dining | cashback | 10% | ₹400 |
| Groceries | cashback | 10% | ₹400 |
| Other | cashback | 1% | ₹400 |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹589 |
| Joining fee (incl. 18% GST) | ₹589 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹3,000/yr in total.
️ lounge access ~ ₹3,000 /yr
Up to 10 lounge visits a year — 2 domestic per quarter (8/yr) plus 2 international per year, per the product page (Aug 2026); the Feb-2026 service guide states only 4 visits (one per quarter), so confirm your entitlement with HSBC before relying on it
Should you get it?
Best for: UPI-first spender who pays everything via PhonePe/GPay, Moderate quick-commerce + dining basket (~₹4,000/month), Wants occasional lounge access on a cheap card, Existing HSBC customer wanting a RuPay/UPI card
Mid tier — a solid all-rounder for steady monthly spend.
Strongest value if you spend heavily on Dining ( 10% back).
Frequent travellers benefit from the included airport lounge access.
✓ Pros
- UPI-linked — pay from PhonePe/GPay/Paytm and still earn cashback
- 10% on dining, food delivery and groceries, at half the Live+ fee
- Up to 10 airport lounge visits a year, which the Visa Live+ does not offer
- Lower ₹499 fee, waived at ₹2 lakh annual spend
✕ Cons
- ₹400/month combined cashback cap is low — about ₹4,000 of accelerated spend exhausts it
- 1% base rate trails the 1.5% on the Visa Live+
- 3.5% forex markup (a 0% forex promo ran until 31 July 2026) — not for international transactions
- HSBC has fewer ATMs and branches than major Indian banks — limited in-person support
Eligibility & documents
Age
18 –65 years
Min. income
₹50,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / valid address proof
- Latest 3 months bank statement
- Income proof — salary slips (salaried) or ITR (self-employed)
- Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Statement credit / cashback adjustment (auto-credited)
🎁 UPI transactions earn cashback like card swipes
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Direct cash adjustment — no conversion
The concern The combined cashback cap is just ₹400/month — roughly ₹4,000 of accelerated spend exhausts it, after which you are on a 1% card. Heavier spenders are better served by Live+''s ₹1,200 cap.
The bottom line
This is a tidy option for RuPay/UPI users: 10% back on dining, delivery and groceries, cashback that follows you into any UPI app, plus lounge entry that the Live+ doesn't offer at all. The catch is proportional sizing — a ₹400 monthly ceiling and a 1% base rate keep it lighter-weight than the pricier ₹999 Live+, which remains the stronger pick for anyone spending heavily on quick-commerce. But for someone who wants UPI-friendly rewards and a handful of lounge visits for ₹499, this card justifies its cost.
Sources & verification
Fees, reward rates, and benefits for the HSBC RuPay Cashback Credit Card are taken from HSBC 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 15 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for HSBC . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2025 · 1 changes · last change Jul 2025
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2025 1 change — 1 neutral
◆ Launch Effective Jul 2025
HSBC launches its first RuPay cashback card
HSBC India introduced the RuPay Cashback Credit Card alongside a RuPay Platinum card — its first cards on the domestic RuPay network and among the first from a foreign bank in India. The UPI-linkable ₹499 card launched with 10% cashback on dining, food delivery and groceries (₹400/month combined cap), 1% on everything else, up to 10 airport lounge visits a year, and a 0% forex-markup promo. It can be linked to HSBC SimplyPay or any third-party UPI app.
Verification: CardAdvisor Research · Confidence: Reconstructed
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: HSBC RuPay Cashback Credit Card value timeline — CardAdvisor
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Quick summary
Type Mid credit card
Reward rate 1%–10%
Best for UPI-first spender who pays everything via PhonePe/GPay
Joining fee ₹499
Annual fee ₹499
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 15 Aug 2026
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