Head-to-head · 🇮🇳 India
SBI Cashback vs HDFC MoneyBack+
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
IN
SBI Card
SBI Cashback
VISA
Wins 1 of 10
IN
HDFC Bank
HDFC MoneyBack+
VISA
Wins 6 of 10
Verdict
HDFC MoneyBack+ wins 6-1. Entry-level cashback with very low waiver bar. SBI Cashback is still the right call if pure online cashback — 5% on any online merchant, no partner restrictions..
Side-by-side
| Criterion | SBI Cashback | HDFC MoneyBack+ |
|---|---|---|
| Annual fee | · ₹999 | ₹500 |
| Joining fee | · ₹999 | ₹500 |
| Top reward rate | = 5% (shopping) | = 5% (shopping) |
| Base reward rate | · 1% | 2% |
| Forex markup | = 3.5% | = 3.5% |
| Welcome bonus | = Cashback offsets joining fee on first ₹999+ spend | = 500 CashPoints on first transaction |
| Fee waiver threshold | · ₹200,000 / yr | ₹50,000 / yr |
| Min income | · ₹360,000 | ₹240,000 |
| Min credit score | · 750 | 720 |
| Editorial rating | 4.6/5 | · 4.1/5 |
Benefits compared
SBI Cashback
- 5% cashback on ALL online spends (not just listed merchants) — capped ₹5,000/month
- 1% cashback on offline spends
- Auto-credited within 2 days of statement
- 1% fuel surcharge waiver
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
FAQ
›SBI Cashback vs HDFC MoneyBack+: which is better?
HDFC MoneyBack+ wins on more dimensions (6 vs 1). 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 SBI Cashback for online shopping, HDFC MoneyBack+ for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
SBI Cashback: Cashback offsets joining fee on first ₹999+ spend. HDFC MoneyBack+: 500 CashPoints on first transaction.