HSBC RuPay Cashback Review 2026: 10% on Dining — With No Published Cap
HSBC RuPay Cashback costs ₹499 and pays 10% on dining, food delivery and grocery. HSBC publishes no ceiling for that band, which is the most important missing figure. Full review.
HSBC RuPay Cashback costs ₹499, waived at ₹2,00,000 of annual spending, and pays 10% cashback on dining, food delivery and grocery with 1% on everything else.
HSBC does not publish a ceiling for that 10%.
HSBC RuPay Cashback Credit Card Quick Overview
| **Card type** | Entry cashback card |
|---|---|
| **Best for** | Someone wanting a cheap RuPay card for dining and UPI |
| **Joining / renewal fee** | ₹499 + GST, same on renewal — renewal waived at ₹2 lakh of annual spend |
| **Network** | RuPay |
| **Base reward rate** | **1.0%** |
| **Top reward rate** | **10.0%** — dining |
| **Reward currency** | Cashback, valued at ₹1 each |
| **Welcome benefit** | ₹500 cashback on spending ₹10,000 within 30 days, after logging in to the HSBC India Mobile Banking app. |
| **Lounge access** | None published |
| **Forex markup** | 3.5% |
Reward Structure: How You Earn
10% cashback on dining, food delivery and grocery.
1% cashback on all other eligible spends.
| Spend | Effective rate |
|---|---|
| dining | **10.0%** |
| Everything else | 1.0% |
| Fuel, rent, wallet loads, government, gaming | **0%** |
The missing ceiling is the story
On a 10% rate, the cap is the figure that decides whether a card is extraordinary or ordinary — and HSBC states none for this one in its published material.
Treat that as unknown rather than uncapped. The comparison that makes this concrete is HSBC's own Live+ card, which pays the same 10% on a similar category set and does disclose its ceiling: ₹1,200 a month. An issuer that caps where it discloses is unlikely to be running an uncapped 10% elsewhere. Confirm the limit with HSBC before choosing this card for the headline rate.
RuPay means UPI
The card is issued on RuPay, which is what allows an Indian credit card to be linked to UPI at all. One of the welcome offers is conditional on making UPI transactions with it.
Where this sits in HSBC's range
| Card | Joining | Forex | Base rate |
|---|---|---|---|
| Taj | ₹1,10,000 | 3.5% | 1.0% |
| Premier | ₹12,000 | 3.5% | **3.0%** |
| TravelOne | ₹4,999 | 3.5% | 2.0% |
| Live+ | ₹999 | **1.99%** | 1.5% |
| RuPay Cashback | ₹499 | 3.5% | 1.0% |
| RuPay Platinum | **Free** | 3.5% | 1.33% |
| Visa Platinum | **Free** | 3.5% | 1.33% |
Charges, which are identical across the range
HSBC's Key Fact Statement quotes the same figures for all seven cards:
- Interest: 3.75% a month, 45% a year, computed from the transaction date
- Interest-free period: up to 45 days — void if any part of last month's bill is still outstanding
- Late payment: 100% of the Minimum Payment Due, floored at ₹250 and capped at ₹1,200 a month. Charged only if the minimum fails to reach HSBC within 3 days of the due date — a grace period HSBC states explicitly
- Rent: 1% processing fee on rental and related payments
- Fuel: a 1% transaction fee, and no rewards. There is no surcharge waiver
Category Restrictions: Where You Won't Earn
- Where you earn nothing: Fuel and cash withdrawals earn nothing.
- Point expiry: Not published for this card in the uploaded sources. Not published is not the same as never expiring.
Fees and Charges
| Charge | Amount |
|---|---|
| Joining fee | ₹499 + GST |
| Renewal fee | ₹499 + GST |
| Finance charges | 3.75% per month (45% per annum), computed from the date of the transaction. Stated identically for every card in the Key Fact Statement. |
| Interest-free period | Up to 45 days. Not valid if any balance from the previous month's bill is outstanding. |
| Cash advance interest | Charged at the card's monthly rate from the date of withdrawal, with no interest-free period. |
| Forex markup | Set per card: 1.99% on Live+, 3.5% on every other card. On the Taj card the 3.5% is waived for India's executive banking clients. |
| Late payment | 100% of the Minimum Payment Due, subject to a minimum of ₹250 and a maximum of ₹1,200 per month. Charged if the minimum payment does not reach HSBC within 3 days of the payment due date — a 3-day grace the Key Fact Statement states explicitly. |
| Overlimit | Applicable where total outstandings exceed the assigned credit limit. |
| Payment return | Charged on a bounced cheque, a dishonoured standing instruction or an unsuccessful NACH payment. |
| Rent payment | 1% processing fee plus applicable taxes on rental and related payments, with effect from 25 January 2023. |
| Fuel transactions | 1% of the fuel transaction value. |
| GST | 18% on all fees, interest and charges. |
Is the HSBC RuPay Cashback Credit Card Worth It?
At ₹499 waived on ₹2,00,000, this is the cheapest fee-bearing card HSBC issues.
Welcome benefits are worth about ₹1,000 across four separate offers — ₹500 cashback on spending ₹10,000, a ₹250 Amazon voucher for completing video verification, ₹250 for linking to UPI and transacting twice, and two months of EazyDiner membership.
Compare against Live+ if your dining and grocery spending is heavy: Live+ costs ₹999 but pays 1.5% rather than 1% on everything outside the accelerated band, and charges 1.99% forex instead of 3.5%.
Frequently Asked Questions (FAQs)
Is there a cap on HSBC RuPay Cashback's 10%? HSBC publishes no ceiling for the dining, food delivery and grocery band in its card material. Treat it as unknown rather than uncapped — HSBC's own Live+ card pays the same 10% and does disclose a ₹1,200 monthly cap, so the silence here is more likely an omission. Confirm with HSBC before relying on it.
Can the HSBC RuPay Cashback card be used on UPI? Yes. It is issued on RuPay, which is the network that permits credit cards to be linked to UPI in India.
What is an HSBC Reward Point worth? ₹1.00 when redeemed on Apple products or Travel with Points — HSBC publishes that rate itself in its own value calculators. Points also transfer to airline and hotel programmes at 1:1, but HSBC publishes no rupee value for a transferred mile.
What interest does an HSBC credit card charge? 3.75% a month, which is 45% a year, computed from the transaction date. The interest-free period runs up to 45 days but is lost entirely if any part of the previous month's bill is left outstanding.
Do HSBC credit cards earn rewards on fuel? No. Fuel earns nothing across the range, and HSBC levies a 1% fuel transaction fee on top. There is no fuel surcharge waiver on any of the seven cards.
Cards Mentioned in This Article
