Head-to-head · 🇮🇳 India
HDFC MoneyBack+ vs SBI Pulse
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
IN
HDFC Bank
HDFC MoneyBack+
VISA
Wins 8 of 10
IN
SBI Card
SBI Pulse
Wins 0 of 10
Verdict
HDFC MoneyBack+ wins 8-0. Entry-level cashback with very low waiver bar. SBI Pulse is still the right call if health/fitness focused — smartwatch + wellness benefits..
Side-by-side
| Criterion | HDFC MoneyBack+ | SBI Pulse |
|---|---|---|
| Annual fee | ₹500 | · ₹1,499 |
| Joining fee | ₹500 | · ₹1,499 |
| Top reward rate | 5% (shopping) | · 1% (general) |
| Base reward rate | 2% | · 1% |
| Forex markup | = 3.5% | = 3.5% |
| Welcome bonus | = 500 CashPoints on first transaction | = Noise smartwatch on activation + 5,000 reward points |
| Fee waiver threshold | ₹50,000 / yr | · ₹200,000 / yr |
| Min income | ₹240,000 | · ₹360,000 |
| Min credit score | 720 | · 740 |
| Editorial rating | 4.1/5 | · 3.9/5 |
Benefits compared
HDFC MoneyBack+
- 5% on Amazon, Flipkart, Big Basket, Reliance Smart Bazaar (capped ₹1K/month)
- 2% on EMI transactions
- 1 fuel surcharge waiver
- Quarterly milestone vouchers
SBI Pulse
- Free Noise ColorFit Pulse 2 smartwatch
- 4 reward points per ₹100 on chemists, dining, movies
- 4 domestic lounge visits/year
- 1-year FITPASS PRO membership
- Cult.fit + 1mg discount partnerships
FAQ
›HDFC MoneyBack+ vs SBI Pulse: which is better?
HDFC MoneyBack+ wins on more dimensions (8 vs 0). But the right answer depends on your specific spending pattern — see the calculator below.
›Can I get both?
Yes — if your credit profile supports it, holding both is the optimal play. Use HDFC MoneyBack+ for its best categories, SBI Pulse for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
HDFC MoneyBack+: 500 CashPoints on first transaction. SBI Pulse: Noise smartwatch on activation + 5,000 reward points.