ICICI Bank Coral vs HDFC MoneyBack+

Reviewed by Chandan Kumar Dash

Both have the same annual fee, ₹500. ICICI Bank Coral waives its fee on ₹1,50,000 of spend a year; HDFC MoneyBack+ waives its fee on ₹50,000 of spend a year. After fees, ICICI Bank Coral comes out ahead for the frequent traveller, and HDFC MoneyBack+ for the everyday spender and online shopper. The Saifu app works it out on your own spends, on your phone.

Feature	ICICI Bank CoralICICI1 win	HDFC MoneyBack+HDFC1 win
Annual fee	₹500	₹500
Joining fee	₹500	₹500
Fee waiver	Waived on ₹1,50,000 spend a year	LowerWaived on ₹50,000 spend a year
Rewards	2 reward points per Rs 100 on retail spends, 1 on utility and insurance	10X CashPoints at select merchants; 2 CashPoints on every Rs 200 on other spends
Airport lounges	More1 a quarter domestic	None listed
Forex markup	3.5% plus GST	3.5% plus GST
Points	ICICI Bank Reward Points, about ₹0.25 a point	CashPoints, about ₹0.2 a point
Published minimum income and age	Salaried ₹2,40,000 a year, self-employed ₹2,40,000 a year, age 21 to 65	Salaried ₹2,40,000 a year, self-employed ₹6,00,000 a year, age 21 to 60
Network	Amex / RuPay	Visa / Mastercard
Apply	Bank page	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	ICICI Bank Coral	HDFC MoneyBack+
Everyday spender₹30,000 a month	₹1,515 a year₹1,515 rewards, no fee to pay	More₹2,484 a year₹2,484 rewards, no fee to pay
Online shopper₹50,000 a month	₹2,880 a year₹2,880 rewards, no fee to pay	More₹5,952 a year₹5,952 rewards, no fee to pay
Frequent traveller₹1,00,000 a month	More₹5,580 a year₹5,580 rewards, no fee to pay	₹5,520 a year₹5,520 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, ICICI Bank Coral or HDFC MoneyBack+?

After fees, ICICI Bank Coral comes out ahead for the frequent traveller, and HDFC MoneyBack+ for the everyday spender and online shopper. 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?

Both charge ₹500 a year.

Add a third card ICICI Bank Coral HDFC MoneyBack+

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