The Swiggy HDFC Bank Credit Card, a co-branded offering from HDFC Bank and Swiggy, is tailored for frequent Swiggy users and online shoppers. Launched to enhance savings on food delivery, grocery shopping, and dining, this card provides attractive cashback rewards and a complimentary Swiggy One membership. With a low annual fee and a lifetime-free offer available until December 31, 2024, it appeals to food enthusiasts and budget-conscious consumers. Below is a detailed overview of its product details, rewards, benefits, fees, charges, pros, and cons, based on the latest available information.
Product Details
The Swiggy HDFC Bank Credit Card operates on the Mastercard World platform and is designed for individuals who frequently use Swiggy services (food delivery, Instamart, Dineout, and Genie) and shop online. It supports contactless payments for transactions up to ₹5,000 without a PIN and offers features like Smart EMI for large purchases, up to three complimentary add-on cards, and zero lost card liability upon immediate reporting. The card is available on an invite-only basis through the Swiggy app or HDFC Bank’s channels.
Eligibility Criteria
- Age: 21–65 years for salaried and self-employed individuals.
- Income:
- Salaried: Minimum monthly income of ₹15,000.
- Self-employed: Income Tax Return (ITR) of ₹6,00,000 per annum.
- Nationality: Indian.
- Credit Score: A score of 750+ is recommended for approval.
- Documents: Aadhaar card, PAN card, address proof, income proof (salary slips, bank statements, or ITR), and a passport-size photograph.
- Joining Fees: Rs 500 + Taxes
- Annual Fee: Rs 500 + Taxes
- 10% Cashback on all Swiggy Orders
- Free Swiggy One Membership for 3 months
- 5% Cashback on Amazon, Flipkart, Myntra, Nykaa
Application Process
- Check eligibility on the Swiggy app or HDFC Bank website (hdfcbank.com).
- Apply via the Swiggy app (navigate to “Swiggy HDFC Bank Credit Card” under Accounts) or HDFC Bank’s online portal.
- Submit KYC documents and complete verification (video KYC or in-person).
- Link the card to the Swiggy app post-approval to unlock benefits like Swiggy One membership.
- 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 | |
Annual Fee | ₹500 + GST (waived on ₹2L annual spend) | ₹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) |
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.
