Best Rewards Credit Cards
Quick answer. As of October 2026, the top 3 on Saifu's best rewards credit cards list are CheQ AU (no annual fee), PhonePe SBI Card SELECT BLACK (₹1,499 a year), Tata Neu Infinity HDFC Bank (₹1,499 a year), ranked from 40 reward point cards on what they return for ₹50,000 a month spread like a typical everyday spender.
| # | Card | Value a year | Annual fee | Fee waiver | Lounges a year | Forex | Link |
|---|---|---|---|---|---|---|---|
| 1 | CheQ AUAU Small Finance Bank | ₹16,100 | Free | No fee to waive | None | 3.49% | Bank page |
| 2 | PhonePe SBI Card SELECT BLACKSBI Card | ₹13,500 | ₹1,499 | Waived on ₹3,00,000 spend a year | 4 | 3.5% | Bank page |
| 3 | Tata Neu Infinity HDFC BankHDFC Bank | ₹9,500 | ₹1,499 | Waived on ₹3,00,000 spend a year | 12 | 2% | Apply |
| 4 | Tata Neu Infinity SBI CardSBI Card | ₹9,500 | ₹1,499 | Waived on ₹3,00,000 spend a year | 12 | 1.99% | Apply |
| 5 | PhonePe SBI Card PURPLESBI Card | ₹6,900 | ₹499 | Waived on ₹1,00,000 spend a year | None | 3.5% | Bank page |
| 6 | Shaurya Select SBI CardSBI Card | ₹6,900 | ₹1,499 | Waived on ₹1,50,000 spend a year | 4 | 3.5% | Bank page |
| 7 | ZaggleAU Small Finance Bank | ₹6,000 | Free | No fee to waive | None | 3.49% | Apply |
| 8 | PhonePe HDFC Bank UltimoHDFC Bank | ₹6,000 | ₹999 | Waived on ₹2,00,000 spend a year | 8 | 3.5% | Apply |
| 9 | Union Bank RuPay SelectUnion Bank of India | ₹6,000 | ₹550 | Waived on ₹50,000 spend a year | 10 | 3% | Bank page |
| 10 | Tata Neu Plus HDFC BankHDFC Bank | ₹5,800 | ₹499 | Waived on ₹1,00,000 spend a year | 4 | 3.5% | Apply |
| 11 | Tata Neu Plus SBI CardSBI Card | ₹5,800 | ₹499 | Waived on ₹1,00,000 spend a year | 4 | 3.5% | Apply |
| 12 | LIC SelectIDFC FIRST Bank | ₹4,900 | Free | No fee to waive | 8 | 0% | Bank page |
| 13 | LIC Axis Bank SignatureAxis Bank | ₹4,700 | Free | No fee to waive | 8 | 3.5% | Apply |
| 14 | HDFC MoneyBack+HDFC Bank | ₹4,140 | ₹500 | Waived on ₹50,000 spend a year | None | 3.5% | Apply |
| 15 | Canara Bank RuPay SelectCanara Bank | ₹3,780 | Free | No fee to waive | 10 | 3% | Bank page |
Value a year: rewards on ₹50,000 a month spread like a typical everyday spender, minus the annual fee. Lounge visits are domestic plus international free visits a year as the bank lists them; many banks now ask for a minimum spend first. Forex markup is before GST.
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Questions
Which is the best rewards credit card in India?
For ₹50,000 a month spread like a typical everyday spender, CheQ AU returns the most on Saifu's numbers: about ₹16,100 a year after its annual fee. The best card for you depends on where you spend; the card finder ranks cards on your own spends.
How is this list ranked?
Saifu runs each card's reward rules, monthly caps and exclusions from its bank's terms on a sample month of spends, scales it to a year and subtracts the annual fee. No bank pays to be listed or to rank higher.
Your spends are different? Rank cards on your own spends or see the best card for each app.
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