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HDFC Bank · researched credit card

Swiggy HDFC Bank Credit Card

A low-fee co-branded cashback card with high Swiggy earn, broader online cashback and clearly published billing-cycle caps.

First-party evidenceActiveReviewed September 11, 2026
Cashback Credit CardsDining Credit CardsOnline Shopping Credit Cards
Open official issuer sourceIssuer dossier
Annual fee₹500 + applicable taxes; renewal fee is waived at ₹2 lakh annual spends.
Joining fee₹500 + applicable taxes under the current HDFC Bank MITC/fee page.
NetworkMastercard on reviewed issuer material
Last reviewedSeptember 11, 2026
Research processPublished by bankingreference.info

Structured from first-party bank/issuer evidence. This page does not claim personal hands-on product use unless that experience is explicitly stated.

4 first-party sources
Last checkedSeptember 11, 2026

Recorded source review date, not a claim that the product changed that day.

Maintenance stateWithin scheduled review window

Target recheck: October 26, 2026.

Decision brief

Start with fit before chasing headline benefits.

The card may be attractive for a specific use case while still being a poor fit once fees, spending thresholds, exclusions or travel conditions are considered.

Potential fit

Frequent Swiggy users and online shoppers whose eligible spend fits within the monthly cashback caps.

Before you apply
  • Cashback caps limit the value of very high spend.
  • Fuel, rent, jewellery, government spends, gift cards, EMI and wallet transactions are among reviewed exclusions.
  • Merchant-linked value depends heavily on continued Swiggy usage.
Four critical factors

Read these four fields before anything else.

They usually determine whether the card's published proposition survives contact with your actual spending and travel pattern.

Reward model10% cashback on eligible Swiggy app spends capped at ₹1,500 per billing cycle; 5% on eligible online shopping capped at ₹1,500; 1% on eligible other spends capped at ₹500. Current product T&Cs also apply minimum eligible transaction values of ₹249 for the 10% bucket and ₹100 for the 5%/1% buckets.
Fee waiverRenewal fee waived when eligible annual spends reach ₹2 lakh or more.
Lounge accessNot positioned as a lounge-led card
Forex markupThe current Swiggy HDFC Bank fee page explicitly publishes a 3.50% dynamic-currency-conversion markup; the reviewed product-specific page does not separately state a foreign-currency markup rate, so DCC is kept distinct from ordinary foreign-currency conversion.
Published terms

Exact decision fields from the maintained profile.

These fields preserve source wording and conditions rather than reducing the card to a single score.

Joining fee₹500 + applicable taxes under the current HDFC Bank MITC/fee page.
Annual fee₹500 + applicable taxes; renewal fee is waived at ₹2 lakh annual spends.
Fee waiverRenewal fee waived when eligible annual spends reach ₹2 lakh or more.
Rewards10% cashback on eligible Swiggy app spends capped at ₹1,500 per billing cycle; 5% on eligible online shopping capped at ₹1,500; 1% on eligible other spends capped at ₹500. Current product T&Cs also apply minimum eligible transaction values of ₹249 for the 10% bucket and ₹100 for the 5%/1% buckets.
NetworkMastercard on reviewed issuer material
Lounge accessNot positioned as a lounge-led card
Forex markupThe current Swiggy HDFC Bank fee page explicitly publishes a 3.50% dynamic-currency-conversion markup; the reviewed product-specific page does not separately state a foreign-currency markup rate, so DCC is kept distinct from ordinary foreign-currency conversion.
Value interpretation

Separate published mechanics from personal value.

The same card can produce very different value depending on where you spend, whether you hit thresholds and whether caps or exclusions matter.

Annual-cost test

Treat the annual fee as a cost that must be recovered from benefits you would have used anyway.

Reward-value test

Cashback is easier to value than points, but caps and excluded merchant categories can materially reduce the headline rate.

Travel-benefit test

Travel perks are not the central reason to choose this card; compare the primary earning categories first.

Approval reality

Published eligibility is not a promise of approval. Issuers can apply internal underwriting, documentation and credit-limit policies.

Reward-value calculatorModel an effective reward rate and cap.→Annual-fee break-evenEstimate the eligible spend needed to recover the fee.→Forex-cost calculatorEstimate markup and GST on overseas spend.→
Decision checklist

Five questions to answer before applying.

These questions turn the researched terms into a personal decision without estimating approval odds.

Annual-cost question

Would you pay the stated annual fee if you did not hit the waiver?

₹500 + applicable taxes; renewal fee is waived at ₹2 lakh annual spends. · Renewal fee waived when eligible annual spends reach ₹2 lakh or more.

Earning question

Does your normal spending actually fall into the card’s rewarded categories?

10% cashback on eligible Swiggy app spends capped at ₹1,500 per billing cycle; 5% on eligible online shopping capped at ₹1,500; 1% on eligible other spends capped at ₹500. Current product T&Cs also apply minimum eligible transaction values of ₹249 for the 10% bucket and ₹100 for the 5%/1% buckets.

Travel question

Are the lounge and international-use terms useful for your real travel pattern?

Not positioned as a lounge-led card · The current Swiggy HDFC Bank fee page explicitly publishes a 3.50% dynamic-currency-conversion markup; the reviewed product-specific page does not separately state a foreign-currency markup rate, so DCC is kept distinct from ordinary foreign-currency conversion.

Complexity question

Can you realistically track the caps, channels and exclusions behind the headline benefit?

Cashback caps limit the value of very high spend. Fuel, rent, jewellery, government spends, gift cards, EMI and wallet transactions are among reviewed exclusions.

Eligibility question

Does the application route fit your profile without assuming approval?

Subject to HDFC Bank approval and current eligibility rules

Eligibility & underwriting

Published eligibility is not an approval prediction.

Income, bureau history, geography, documentation, existing relationship and the issuer's internal underwriting can all change the outcome.

Published eligibility

Subject to HDFC Bank approval and current eligibility rules

Maintained comparisons

Compare this card against exact researched alternatives.

Pairs are curated only where the engine has enough decision value to justify a maintained comparison page.

Browse all maintained card comparisons →
Research next

Alternatives without pretending one card is universally better.

These routes help you inspect related cards, the same issuer's portfolio and—where mapped—the wider bank relationship.

First-party evidence ledger

Verify the card against the documents behind the profile.

Source links, reviewed fields and unresolved verification gaps remain visible. Research freshness is not a guarantee that the issuer has not changed terms after the stated review date.

Evidence statefirst party verified
ReviewedSeptember 11, 2026
Issuer documents4
Terms confirmed in the profile
Joining feeAnnual feeFee waiverRewardsLoungeForexEligibilityStatus
Issuer evidenceDocument typeOpen
Primary sourceIssuer product pageView ↗
Supporting source 2Fee / charge scheduleView ↗
Supporting source 3Terms & conditionsView ↗
Supporting source 4MITC / controlling termsView ↗

Verification means these published terms were checked against the linked first-party issuer material on the review date. It does not mean the issuer guarantees approval, a credit limit or that terms cannot change later.