Axis Bank Cashback vs HSBC Live+

Reviewed by Chandan Kumar Dash

HSBC Live+ has the lower annual fee (₹999 against ₹1,000). Axis Bank Cashback waives its fee on ₹4,00,000 of spend a year; HSBC Live+ waives its fee on ₹2,00,000 of spend a year. For spends abroad, HSBC Live+ charges the lower forex markup (1.99% plus GST). After fees, Axis Bank Cashback comes out ahead for the online shopper, and HSBC Live+ for the everyday spender and frequent traveller. The Saifu app works it out on your own spends, on your phone.

Feature	Axis Bank CashbackAxis0 wins	HSBC Live+HSBC India5 wins · ahead
Annual fee	₹1,000	Lower₹999
Joining fee	₹1,000	Lower₹999
Fee waiver	Waived on ₹4,00,000 spend a year	LowerWaived on ₹2,00,000 spend a year
Rewards	Up to 7% cashback on eligible online spends; 0.75% on retail and travel spends; 0.5% on utility spends	10% cashback (up to INR 1,200 a month) on dining, food delivery, grocery, shopping and utilities; 1.5% on other spends
Airport lounges	None listed	More2 a year domestic, 1 a year international
Forex markup	3.5% plus GST	Lower1.99% plus GST
Points	Cashback or not listed	Cashback or not listed
Published minimum income and age	age 18 to 70	Salaried ₹6,00,000 a year, self-employed ₹12,00,000 a year, age 18 to 65
Network	Not listed	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	Axis Bank Cashback	HSBC Live+
Everyday spender₹30,000 a month	₹6,425 a year₹7,425 rewards, less ₹1,000 fee	More₹17,100 a year₹17,100 rewards, no fee to pay
Online shopper₹50,000 a month	More₹21,720 a year₹21,720 rewards, no fee to pay	₹21,240 a year₹21,240 rewards, no fee to pay
Frequent traveller₹1,00,000 a month	₹16,080 a year₹16,080 rewards, no fee to pay	More₹26,640 a year₹26,640 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, Axis Bank Cashback or HSBC Live+?

After fees, Axis Bank Cashback comes out ahead for the online shopper, and HSBC Live+ for the everyday spender and frequent traveller. 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?

HSBC Live+ (₹999 against ₹1,000). Axis Bank Cashback waives it on ₹4,00,000 of spend a year. HSBC Live+ waives it on ₹2,00,000 of spend a year.

Add a third card Axis Bank Cashback HSBC Live+

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