Swiggy HDFC Credit Card Benefits: Free Deliveries, Discounts & More!

Application Process

1. Check eligibility on the Swiggy app or HDFC Bank website (hdfcbank.com).
2. Apply via the Swiggy app (navigate to “Swiggy HDFC Bank Credit Card” under Accounts) or HDFC Bank’s online portal.
3. Submit KYC documents and complete verification (video KYC or in-person).
4. Link the card to the Swiggy app post-approval to unlock benefits like Swiggy One membership.
5. Activate the card within 30 days by making a transaction of ₹100 or more, setting a PIN, or enabling online/international transactions via OTP or IVR.

Rewards and Benefits

The card offers a tiered cashback structure, credited as a statement credit since June 21, 2024, replacing the earlier Swiggy Money wallet system. Key rewards and benefits include:

• Cashback Rewards:
  • 10% Cashback on Swiggy Platforms: Applies to food delivery, Instamart, Dineout, and Genie transactions, capped at ₹1,500 per billing cycle (₹18,000 annually). Minimum transaction value: ₹100. Exclusions include Swiggy Money Wallet, Swiggy Minis, and Swiggy Liquor.
  • 5% Cashback on Online Spends: Covers categories like apparel, electronics, entertainment, home décor, pharmacies, personal care, local cabs (Ola, Uber), pet stores, and discount stores (e.g., Amazon, Flipkart, Myntra, Ajio), based on Merchant Category Codes (MCCs). Capped at ₹1,500 per billing cycle (₹18,000 annually). Gift cards and grocery purchases are excluded.
  • 1% Cashback on Other Categories: Applies to offline and non-excluded spends, capped at ₹500 per billing cycle (₹6,000 annually). Exclusions include fuel, rent, EMIs, jewelry, wallet loads, government transactions, and utilities.
  • Automatic Crediting: Cashback is credited to the card statement within 8–10 days of statement generation, with no redemption fee or expiry.
• Complimentary Swiggy One Membership:
  • A 3-month membership upon card activation, offering unlimited free deliveries, exclusive restaurant discounts, and benefits across Swiggy’s services. Existing Swiggy One members can extend their membership by 3 months. Claim within 2–3 days of activation via the Swiggy app.
• Contactless Payments:
  • Enabled for tap-to-pay transactions up to ₹5,000 without a PIN, ensuring fast and secure payments at retail outlets.
• Smart EMI Facility:
  • Convert purchases above ₹2,500 into no-cost or low-cost EMIs for flexible repayments.
• Zero Lost Card Liability:
  • No liability for fraudulent transactions if the card loss is reported immediately to HDFC Bank’s 24-hour call center.
• Interest-Free Credit Period:
  • Up to 50 days of interest-free credit, subject to merchant charge submission.
• Additional Mastercard Benefits:
  • Four complimentary golf rounds per year (one per month) and 12 annual golf lessons at select locations.
  • Up to 12% off on Agoda bookings and complimentary stays/dinners at select Mastercard partner locations.
  • 1 IndiGo BluChip per ₹100 spent on Swiggy platforms (food delivery, Instamart, Dineout).

Fees and Charges

The card has a low fee structure, with a lifetime-free offer for applications made between October 1, 2024, and December 31, 2024. Standard fees include:

• Joining Fee: ₹500 + GST (waived for lifetime-free offer).
• Annual/Renewal Fee: ₹500 + GST from the second year, waived if annual spends exceed ₹2,00,000 in the previous year.
• Finance Charges: 3.6% per month (43.2% annually).
• Cash Advance Fee: 2.5% of the withdrawn amount or ₹500, whichever is higher.
• Foreign Currency Markup Fee: 3.5% + GST (approximately 4.13%).
• Late Payment Charges:
  • ₹0 for dues less than ₹100.
  • ₹100 for dues between ₹100 and ₹500.
  • ₹400 for dues between ₹501 and ₹5,000.
  • ₹500 for dues between ₹5,001 and ₹10,000.
  • ₹700 for dues between ₹10,001 and ₹25,000.
  • ₹900 for dues between ₹25,001 and ₹50,000.
  • ₹1,100 for dues above ₹50,000.
• Third-Party App Charges (effective August 1, 2024):
  • 1% fee (capped at ₹3,000) for rent or educational expenses paid via apps like CRED or Paytm.
  • 1% fee (capped at ₹3,000) for utility bill payments exceeding ₹50,000 per month.
  • 1% fee (capped at ₹3,000) for fuel purchases above ₹15,000 per month.
• Card Replacement Fee: ₹100–₹250.
• Other Charges: All taxes are applicable as per government regulations.

Comparision of Swiggy HDFC Bank Credit Card with Peers

Below is a comparison of the Swiggy HDFC Bank Credit Card with other popular cashback credit cards in India, focusing on key features like cashback rates, annual fees, welcome benefits, and other notable perks. The peer cards selected for comparison are Amazon Pay ICICI Bank Credit Card, Flipkart Axis Bank Credit Card, HSBC Live+ Credit Card, and SBI Cashback Credit Card, as these are frequently mentioned as competitors in the cashback and co-branded credit card space.

Feature	Swiggy HDFC Bank Credit Card	Amazon Pay ICICI Bank Credit Card	Flipkart Axis Bank Credit Card	HSBC Live+ Credit Card	SBI Cashback Credit Card
Annual Fee	₹500 + GST (waived on ₹2L annual spend)	Lifetime Free	₹500 + GST (waived on ₹2L annual spend)	₹999 + GST (waived on ₹2L annual spend)	₹999 + GST (waived on ₹2L annual spend)
Welcome Benefit	3-month Swiggy One membership	1-month Amazon Prime membership for Prime users; ₹500-₹1000 Amazon Pay cashback for non-Prime users	₹500 Flipkart voucher + 3-month Flipkart Plus membership	None explicitly mentioned	None explicitly mentioned
Cashback on Food Delivery	10% on Swiggy (food, Instamart, Dineout, Genie), capped at ₹1,500/month	5% on Amazon (for Prime users), no specific food delivery cashback	5% on Flipkart, Myntra; 1.5% on Swiggy, Zomato	10% on food delivery (Swiggy, Zomato, etc.), capped at ₹1,000/month	5% on online spends (including Swiggy, Zomato), capped at ₹5,000/quarter
Cashback on Online Spends	5% on select online spends (e.g., Amazon, Flipkart, Ola, Uber), capped at ₹1,500/month	5% on Amazon (Prime users), 3% on Amazon (non-Prime), 1% elsewhere	5% on Flipkart, Myntra; 1.5% on other online spends	10% on dining, grocery; 1.5% on other online spends	5% on all online spends, capped at ₹5,000/quarter
Cashback on Other Spends	1% on other categories, capped at ₹500/month (exclusions: fuel, rent, EMI, wallet, jewelry, govt.)	1% on offline spends, utilities, insurance	1.5% on offline spends (exclusions apply)	1.5% on other spends (exclusions apply)	1% on offline spends (exclusions apply)
Lounge Access	None	None	4 domestic lounge visits/year	2 domestic lounge visits/quarter	None
Fuel Surcharge Waiver	None	1% on fuel, up to ₹400/month	1% on fuel, up to ₹400/month	None	1% on fuel, up to ₹250/month
Other Benefits	– 12 free golf lessons/year – Up to 12% discount on Agoda hotels – Mastercard World benefits (e.g., free stay/dine at select partners)	– No expiry on Amazon Pay cashback – Interest-free credit up to 50 days	– 4x EDGE rewards on select partners – EMI options	– 15% discount at 1000+ restaurants – Interest-free credit up to 50 days	– Interest-free credit up to 50 days – EMI options
Eligibility	Salaried: ₹15,000/month income; Age: 21-60 years	Salaried: ₹25,000/month income; Age: 21-65 years	Salaried: ₹25,000/month income; Age: 21-65 years	Salaried only; limited to select cities	Salaried: ₹25,000/month income; Age: 21-60 years
Best For	Frequent Swiggy users (food, groceries, dining) and moderate online shoppers	Amazon Prime users and frequent Amazon shoppers	Flipkart/Myntra shoppers and moderate food delivery users	Frequent diners and food delivery users across platforms	General online shoppers, including food delivery
Limitations	– Cashback capped at ₹1,500/month for Swiggy and online spends – No cashback on Swiggy Money Wallet, Minis, Liquor – MCC-based restrictions for 5% cashback	– Limited to Amazon ecosystem for high cashback – Lower benefits for non-Prime users	– Lower cashback on food delivery platforms – Exclusions on gift cards	– Limited bank presence in India – Higher annual fee	– Quarterly cashback cap – Higher annual fee

Pros

• High Cashback on Swiggy: 10% cashback on Swiggy platforms is generous, ideal for frequent users of food delivery, Instamart, or Dineout, with a ₹1,500 monthly cap.
• Competitive Online Rewards: 5% cashback on online spends across popular merchants (e.g., Amazon, Flipkart) matches top cards like Amazon Pay ICICI, with a ₹1,500 monthly cap.
• Low Annual Fee: ₹500 annual fee (waivable with ₹2,00,000 spends) is cost-effective, especially with the lifetime-free offer until December 31, 2024.
• Swiggy One Membership: Complimentary 3-month membership provides free deliveries and discounts, adding significant value (worth ~₹600).
• Beginner-Friendly: Simple cashback structure and low income requirement (₹15,000/month) make it accessible for young professionals or first-time cardholders.
• Contactless Convenience: Tap-to-pay functionality enhances speed and security for small transactions.
• Additional Perks: Golf benefits, IndiGo BluChips, and Agoda discounts add niche value for specific users.
• Statement Credit: Automatic cashback crediting since June 2024 eliminates the need to spend rewards on Swiggy, unlike the earlier Swiggy Money system.

Cons

• Cashback Caps: ₹1,500 monthly caps on Swiggy and online spends limit earnings for high spenders (e.g., max ₹18,000 annual cashback per category).
• Exclusions: No cashback on fuel, rent, utilities, EMIs, jewelry, government transactions, or Swiggy Minis/Liquor, reducing overall reward potential.
• MCC-Based Restrictions: 5% online cashback depends on Merchant Category Codes, leading to inconsistent rewards on platforms like Amazon or Flipkart.
• No Lounge Access: Unlike competitors (e.g., HDFC Millennia), the card lacks airport lounge access, a drawback for travelers.
• No Fuel Surcharge Waiver: Missing this benefit reduces value for vehicle owners compared to cards like Cashback SBI.
• Short Swiggy One Membership: The 3-month membership is brief, and no renewal benefit is offered, unlike premium cards with annual memberships.
• Invite-Only Availability: Limited access through the Swiggy app or HDFC Bank may restrict applications.
• High Interest Rates: 3.6% monthly (43.2% annual) finance charges are steep if balances are not paid in full.

 

Final Thought

The Swiggy HDFC Bank Credit Card is an excellent choice for frequent Swiggy users and online shoppers seeking high cashback rewards with a low annual fee. Its 10% cashback on Swiggy platforms and 5% on online spends, coupled with a complimentary 3-month Swiggy One membership, make it a compelling option for food enthusiasts and young professionals. The lifetime-free offer until December 31, 2024, enhances its appeal. However, cashback caps, MCC-based restrictions, and exclusions on key categories like fuel and utilities limit its versatility for high spenders or diverse spenders. The lack of lounge access and fuel surcharge waivers further reduces its edge compared to competitors like the Cashback SBI Card or Amazon Pay ICICI Card. To maximize value, use the card for Swiggy transactions and eligible online spends while ensuring annual spends exceed ₹2,00,000 for fee waivers. Always check the latest terms on the HDFC Bank website (hdfcbank.com) or Swiggy app before applying.