HDFC Millennia vs SBI Cashback

Reviewed by Chandan Kumar Dash

SBI Cashback has the lower annual fee (₹999 against ₹1,000). HDFC Millennia waives its fee on ₹1,00,000 of spend a year; SBI Cashback waives its fee on ₹2,00,000 of spend a year. On all three sample spends below, SBI Cashback comes out ahead after fees. The Saifu app works it out on your own spends, on your phone.

Feature	HDFC MillenniaHDFC1 win	SBI CashbackSBI Card2 wins · ahead
Annual fee	₹1,000	Lower₹999
Joining fee	₹1,000	Lower₹999
Fee waiver	LowerWaived on ₹1,00,000 spend a year	Waived on ₹2,00,000 spend a year
Rewards	5% cashback on Amazon, Flipkart, Myntra, Tata CLiQ, Swiggy, Zomato, Uber, BookMyShow, Sony LIV and Cult.fit; 1% cashback on other spends	5% cashback on online spends, 1% on offline spends
Airport lounges	None listed	None listed
Forex markup	3.5% plus GST	3.5% plus GST
Points	Cashback or not listed	Cashback or not listed
Published minimum income and age	Salaried ₹4,20,000 a year, self-employed ₹6,00,000 a year, age 21 to 40	Not published
Network	Visa / Mastercard	Visa
Apply	ApplyAffiliate link	ApplyAffiliate link

Badges mark the lower fee, waiver spend or markup, and more lounge visits. Rewards are not scored here because they depend on where you spend. Affiliate link, costs you nothing extra, we may earn a commission, never changes how cards are ranked. Figures come from each bank's page and can change; check before you apply.

What each card earns in a year

Sample spender	HDFC Millennia	SBI Cashback
Everyday spender₹30,000 a month	₹7,560 a year₹7,560 rewards, no fee to pay	More₹8,100 a year₹8,100 rewards, no fee to pay
Online shopper₹50,000 a month	₹15,600 a year₹15,600 rewards, no fee to pay	More₹22,800 a year₹22,800 rewards, no fee to pay
Frequent traveller₹1,00,000 a month	₹20,520 a year₹20,520 rewards, no fee to pay	More₹36,840 a year₹36,840 rewards, no fee to pay

The sample spends and how this is worked out

Everyday spender, ₹30,000 a month: DMart ₹6,000, BigBasket ₹2,000, Swiggy ₹2,000, Zomato ₹1,500, Amazon ₹3,000, Flipkart ₹1,500, Bills paid on Google Pay ₹2,500, Airtel ₹1,000, Indian Oil ₹3,000, Restaurant (in person) ₹2,500, Uber ₹1,000, Other spends in shops ₹4,000.
Online shopper, ₹50,000 a month: Amazon ₹10,000, Flipkart ₹8,000, Myntra ₹3,000, Swiggy ₹4,000, Zomato ₹3,000, Blinkit ₹4,000, BookMyShow ₹1,500, Uber ₹2,000, Bills paid on Google Pay ₹3,000, Jio ₹1,000, Netflix ₹500, Restaurant (in person) ₹3,000, Other spends in shops ₹7,000.
Frequent traveller, ₹1,00,000 a month: MakeMyTrip ₹10,000, Cleartrip ₹5,000, IRCTC ₹2,000, IndiGo ₹10,000, Marriott Bonvoy hotels ₹8,000, Spends abroad ₹15,000, Uber ₹4,000, Restaurant (in person) ₹8,000, Amazon ₹10,000, Swiggy ₹5,000, DMart ₹8,000, Bills paid on Google Pay ₹4,000, Indian Oil ₹5,000, Other spends in shops ₹6,000.

Worked out with the same reward rules and caps the Saifu app uses. Points are counted at the cash value in the table above. The annual fee counts as waived when the spend reaches the waiver. Joining fees, welcome gifts and milestone vouchers are not counted. Your own spends will give different figures.

Common questions

Which is better, HDFC Millennia or SBI Cashback?

On all three sample spends below, SBI Cashback comes out ahead after fees. It depends on where you spend: compare the figures for the sample spender closest to you, or add your own spends in the Saifu app.

Which has the lower annual fee?

SBI Cashback (₹999 against ₹1,000). HDFC Millennia waives it on ₹1,00,000 of spend a year. SBI Cashback waives it on ₹2,00,000 of spend a year.

Add a third card HDFC Millennia SBI Cashback

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