HDFC Millennia vs SBI Cashback Card: Which Is the Best Credit Card for Cashbacks in 2026?

Synopsis: Cashback credit cards are one of the best financial tools to save money. In 2026, two of the most popular cashback cards are the HDFC Millennia Credit Card and the SBI Cashback Card. This article compares benefits and rewards each card offers for maximum savings.

Cashback cards have become popular because it literally gives you return for almost everything for regular spending. You order food, shop online, pay bills, and earn 1% to 5% back every time. But not every cashback card rewards you the same way, some may reward based on the partnered brands while others may not have such rules and you can get cash points no matter what you spend on. That difference decides which card actually saves you more money.

Here is what you need to know about the difference between the two popular cashback credit cards HDFC Bank Millennia Credit Card and SBI Card Cashback Card.

Quick Comparison Table

Card Overview

HDFC Millennia Credit Card

HDFC Millennia Credit Card is for users who spend regularly on popular online brands. It works best if most of your shopping, food delivery, and travel bookings are done on their partnered brands like Amazon, Swiggy etc. The joining fee and the renewal fee of the card is ₹1000 with extra taxes. But, the annual fee is fully waived if you spend ₹1 lakh or more in a year which is not a big deal if you shop often.

Eligibility: The applicant should be an Indian citizen aged 21 years or above with a stable income and a good credit profile. For a salaried individual the required monthly income is above ₹35000 and the minimum ITR for a self-employed person should be above ₹6 Lakh per annum.

SBI Cashback Card

SBI Cashback Card is built for people who want straightforward cashback without tracking brands or categories. Whether you shop on big platforms or smaller websites, online spends earn the same cashback. The joining fee and the annual fee are ₹999 plus applicable taxes. The renewal fee is waived only if your annual spending crosses ₹2 lakh and above which is quite higher than the HDFC card.

Eligibility: People who are Indian residents above 21 years with a stable income and strong credit history can apply. Approval depends largely on credit score and repayment behaviour.

1. Key Benefits

HDFC Millennia Credit Card

• Earn 5% cashback on spending on online brands like Amazon, Flipkart, Myntra, Tata CLiQ, Swiggy, Zomato, Uber, Sony LIV, BookMyShow, Cult.fit (non-EMI transactions).
• 1% cashback on all other eligible spends (excluding fuel, rent payments, government transactions, wallet loads and EMIs), capped 1,000 CashPoints per month.
• CashPoints are redeemable against your card statement at value of 1 CashPoint = ₹1. Cashback  can also be used for Flights and Hotels bookings or for products/vouchers via HDFC SmartBuy portal, but at a different value. You can redeem up to 5 times per month starting from Feb 1, 2026.
• On spending ₹1,00,000 or more in a calendar quarter, you get either ₹1,000 worth of gift vouchers, or 1 domestic airport lounge access voucher

SBI Cashback Card

• 5% cashback on all online spends, with no restriction on merchants.
• 1% cashback on all offline spends.

Also Read: 3 Best Credit Cards that Offer Free OTT Subscriptions in 2026 (Amazon Prime, Sony Liv and More)

2. Travel & Lounge Benefits

HDFC Millennia Credit Card

• 1% fuel surcharge waiver at fuel stations
• Optional airport lounge access (1 visit)

SBI Cashback Card

• 1% fuel surcharge waiver
• No airport lounge access

3. Rewards & Cashback

Both cards offer a good cash back on your spendings but their reward structure is different.

HDFC Millennia gives 5% cashback on selected popular online brands like Amazon, Flipkart, Zomato, Swiggy and others, but this high rate is capped at ₹1,000 per month, and you must redeem the cashback as CashPoints against your credit card bill. On other purchases, you earn 1% cashback on eligible spends, also up to a monthly cap. 

SBI Cashback Card, on the other hand offers 5% cashback on all online transactions with no brand restrictions and 1% cashback on offline spends, and the cashback is automatically credited to your statement every month, up to Rs 5000 which is much higher than the HDFC Millennia credit card.

4. Other Benefits

HDFC Millennia Credit Card

• Enjoy up to 50 days of interest-free credit from the date of purchase (subject to merchant submission of charges).
• Card supports contactless tap-to-pay transactions (up to ₹5,000 without PIN in India; above that requires PIN).
• If your card is lost or stolen, reporting immediately to the bank protects you with zero liability on fraudulent transactions.

SBI Cashback Card

• Pay utility bills, electricity bill with easy Bill Pay facility on your credit card
• Transfer the outstanding balance of other banks’ credit cards to your card, and avail a lower rate of interest and pay back in EMIs
• Add-on cards for your parents, spouse, children or siblings above the age of 18

Who Should Choose Which Card?

If your spending is mostly limited to popular shopping and food apps, and you prefer a lower fee waiver, HDFC Millennia will be a good choice for you. It rewards structured spending and works well for users who don’t cross very high monthly limits.

SBI Cashback Card is better for users who shop online everywhere and don’t want to worry about which brand earns cashback. If your online spending is high and spread across multiple platforms, SBI Cashback usually gives higher real returns but the only thing you will have to think about is the fee waiver limit. You can opt any of them based on your spending habits.

FAQs

Written by Supriya