Swiggy HDFC Bank Credit Card : In the realm of cashback credit cards, a new player has emerged amidst the growing trend. HDFC Bank has partnered with Swiggy, a prominent food and grocery delivery platform in the country, to introduce their co-branded credit card: the Swiggy HDFC Bank Credit Card.
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This card stands out by offering an attractive 10% cashback on various transactions conducted through the Swiggy app. This includes food orders and purchases via Swiggy Instamart, Dineout, and Swiggy Genie. Essentially, cardholders can earn a substantial 10% cashback each time they make food orders, shop for groceries, or settle restaurant bills using the Swiggy app.
HDFC Bank Money Back Credit Card : जाने क्या है बेनिफिट ?
Furthermore, users can enjoy a 5% cashback on expenditures across a range of popular online platforms such as Amazon, Myntra, Nykaa, Ola, Uber, PharmEasy, NetMeds, and BookMyShow. Additionally, a 1% cashback is extended on other miscellaneous online expenses.
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Swiggy HDFC Bank Credit Card Feature Chart .
Parameters | Swiggy HDFC Bank Credit Card | Amazon Pay ICICI Credit Card | Flipkart Axis Bank Credit Card |
Annual Fee | Rs 500 | Nil | Rs 500 |
Fee Waiver | On Rs 2 lakh annual spends | NA | On Rs 2 lakh annual spends |
Welcome Benefits | 3 months Swiggy One membership | NA | Save Up to Rs 1,100 on Flipkart, Myntra & Swiggy combined |
Cashback | -10% up to Rs 1,500 per month on Swiggy -5% up to Rs 1,500 per month on online spends -1% up to Rs 500 per month | -5% on Amazon by Prime members -3% on Amazon by non-Prime members -2% on Amazon Pay partner merchants -1% cashback on all other transactions | -5% on Flipkart -4% cashback at preferred merchants -1.5% cashback on all other spends |
Other Benefits | Nil | Up to 15% off on dining at partner restaurants | -Up to 20% off at partner restaurants -4 domestic airport lounge visits per year |
Form of Cashback Redemption | As Swiggy Money | As Amazon Pay balance | As statement credit |
Source: Paisabaazar
Comparing the Swiggy HDFC Bank Credit Card as a Cashback Solution
When compared to two of the most sought-after platform-specific co-branded credit cards – the Flipkart Axis Bank Credit Card and the Amazon Pay ICICI Credit Card – the Swiggy HDFC Bank Credit Card emerges as an enticing contender. This is attributed to its more substantial 10% cashback on food orders, grocery deliveries, and dining bills. In contrast, its rivals provide a maximum of 5% cashback on their respective partner e-commerce platforms.
Moreover, the Swiggy HDFC Bank Credit Card offers a noteworthy 5% cashback for expenditures across various categories of well-known brands. This surpasses the cashback typically provided by several brands on other cashback credit cards, such as the Flipkart Axis Bank Credit Card and Amazon Pay ICICI Credit Card.
The Cashback SBI Credit Card remains the only alternative that provides a 5% cashback on online expenses without merchant limitations.
Is the 10% Cashback on the Swiggy HDFC Bank Credit Card Compelling?
Does the appealing 10% cashback offer a sufficient incentive to opt for the Swiggy HDFC Bank Credit Card? While cashback indeed plays a pivotal role in the selection of a cashback credit card, users should meticulously examine the finer print before making a decision.
Rohit Chhibbar, Head of Credit Cards at Paisabazaar, explains, “Unlike most co-branded cashback cards that offer unlimited cashback with partner brands, the Swiggy HDFC Bank Credit Card places a cap on cashback earnings – a maximum of ₹1,500 per month for both the 10% and 5% cashback categories, and ₹500 for the 1% cashback category.” In essence, this means that the 10% or 5% cashback won’t apply once monthly expenses exceed ₹15,000 on Swiggy or ₹30,000 on online transactions, respectively.
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Additional Consideration
There’s another aspect to consider. Cashback earned by cardholders is provided in the form of Swiggy Money, exclusively usable within the Swiggy app. This implies that the cashback earned can only be used for food and grocery orders, along with restaurant bill payments.
In contrast, the Amazon Pay ICICI Credit Card allocates cashback as Amazon Pay balance, which can be utilized across various services, including Unified Payments Interface (UPI) transactions, mobile number recharges, FASTag payments, and settling bills for DTH, utilities, and insurance policies via the Amazon Pay platform.
In comparison, Swiggy Money is limited to expenses related to food, grocery, and restaurants. It’s crucial to keep in mind these limitations in cashback scope and usability when considering the application for the Swiggy HDFC Bank Credit Card.
Who Would Benefit from the Swiggy HDFC Bank Credit Card?
Considering all these aspects, the Swiggy HDFC Bank Credit Card presents an appealing option for individuals who frequently engage in substantial Swiggy transactions. The 10% cashback on app-based expenses – encompassing food, grocery, dining, and DineOut bills – outperforms what other cards offer.
The monthly limits of ₹1,500 each for the 10% and 5% cashback categories, and ₹500 for the 1% category, appear quite reasonable. Additionally, as a welcome benefit, cardholders are granted a Swiggy One membership valued at ₹1,199 for a three-month period. This membership provides complimentary food delivery from select restaurants for orders above ₹149, free grocery delivery from Swiggy Instamart for orders over ₹199, exclusive discounts on food delivery and DineOut, and a flat 10% discount on Swiggy Genie deliveries.
Therefore, if your regular activities primarily involve Swiggy for daily needs, it’s worthwhile to calculate potential monthly savings attainable with this card.
Before committing to a card, individuals should thoroughly compare the cashback offered by other similar credit cards, carefully examine membership benefits, annual fees, and additional perks.
While the Swiggy HDFC Bank Credit Card certainly shines in specific categories due to its higher cashback rates, the decision to opt for it hinges on individual spending habits. If your online expenditures outweigh food ordering or dining out, alternatives are available; certain cards offer a 5% cashback on online transactions without cashback restrictions. Ultimately, your spending patterns should guide your choice of a cashback credit card.
Swiggy HDFC Bank Credit Card Eligibility Criteria :
For Salaried Indian Citizens:
- Age Range: 21 years to 60 years
- Minimum Net Monthly Income: ₹25,000
For Self-Employed Indian Citizens:
- Age Range: 21 years to 65 years
- Minimum Annual Income as per ITR: ₹6 Lakhs
Applying for the Swiggy HDFC Bank Credit Card Online:
- Visit the Swiggy HDFC Bank Credit Card Website: Start by accessing the dedicated official website for the Swiggy HDFC Bank Credit Card.
- Click on the “Apply Now” Button: Locate and click on the prominently displayed “Apply Now” button found on the webpage.
- Redirected to HDFC Bank’s Website: You will be instantly redirected to HDFC Bank’s official website, where you can proceed with the application.
- Provide Your Personal Details: Fill in your personal details, including your full name, email address, mobile number, and date of birth.
- Enter Your Employment Information: Input relevant employment information, such as your employer’s name, job title, and monthly income.
- Specify Your Annual Income: Indicate your annual income in accordance with the application requirements.
- Upload Essential Documents: Upload scanned copies of essential documents like your PAN card, Aadhaar card, and recent salary slip. Ensure the copies are legible and clear.
- Click on the “Submit” Button: After completing the required details and attaching the requested documents, finalize your application by clicking the “Submit” button.
- Application Processing by HDFC Bank: HDFC Bank will initiate the processing of your application, reviewing the information and documents provided.
- Await Application Approval: If your application aligns with the necessary criteria, HDFC Bank will proceed with the approval process. Expect an update on your application status within a reasonable timeframe.
- Credit Card Delivery: Upon successful approval, anticipate receiving your Swiggy HDFC Bank Credit Card within 7 to 10 working days.
* For More Infromation Visit Official Website of HDFC Bank .