Standard Chartered Ultimate vs HSBC Premier

Reviewed by Chandan Kumar Dash

Standard Chartered Ultimate has the lower annual fee (₹5,000 against ₹20,000). For spends abroad, HSBC Premier charges the lower forex markup (0.99% plus GST). On all three sample spends below, Standard Chartered Ultimate comes out ahead after fees. The Saifu app works it out on your own spends, on your phone.

Feature	Standard Chartered UltimateStandard Chartered Bank India2 wins	HSBC PremierHSBC India2 wins
Annual fee	Lower₹5,000	₹20,000
Joining fee	Lower₹5,000	₹12,000
Fee waiver	No spend waiver	No spend waiver
Rewards	5 reward points per INR 150 spent; 1 point = INR 1	3 reward points per INR 100 spent; available to HSBC Premier customers
Airport lounges	4 a quarter domestic, 1 a month international	Moreunlimited domestic, unlimited international
Forex markup	2% plus GST	Lower0.99% plus GST
Points	360° Rewards Points, about ₹1 a point	HSBC Reward Points, about ₹1 a point
Published minimum income and age	age 21 to 65	See bank page
Network	Mastercard	Mastercard
Apply	Bank page	Bank page

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	Standard Chartered Ultimate	HSBC Premier
Everyday spender₹30,000 a month	More₹3,960 a year₹8,960 rewards, less ₹5,000 fee	-₹10,280 a year₹9,720 rewards, less ₹20,000 fee
Online shopper₹50,000 a month	More₹13,720 a year₹18,720 rewards, less ₹5,000 fee	-₹2,000 a year₹18,000 rewards, less ₹20,000 fee
Frequent traveller₹1,00,000 a month	More₹31,080 a year₹36,080 rewards, less ₹5,000 fee	₹14,200 a year₹34,200 rewards, less ₹20,000 fee

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, Standard Chartered Ultimate or HSBC Premier?

On all three sample spends below, Standard Chartered Ultimate 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?

Standard Chartered Ultimate (₹5,000 against ₹20,000).

Add a third card Standard Chartered Ultimate HSBC Premier

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