HDFC Bank MoneyBack+ Credit Card vs Paytm SBI Card: Which is Better in 2026?
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In short: SBI Paytm has the lower annual fee (₹499 vs ₹500); both charge a 3.5% forex markup.
| Key facts | HDFC MoneyBack+ | SBI Paytm |
|---|---|---|
| Annual fee | ₹500 | ₹499 |
| Joining fee | ₹500 | ₹499 |
| Annual fee waived | On ₹50,000 annual spend | Not listed |
| Forex markup | 3.5% | 3.5% |
From issuer benefit data, checked 23 Oct 2026. Rewards, milestones and welcome benefits are in the full table below.
The Hdfc Bank Moneyback+ Credit Card and the Paytm Sbi Card both offer competitive benefits with a focus on rewards but cater to different spending habits. Hdfc Bank Moneyback+ emphasizes cashback on popular e-commerce and grocery platforms, while Paytm Sbi Card provides tiered cashback primarily on Paytm's ecosystem. Both cards have similar joining and renewal fees and comparable forex markup charges, making cost considerations fairly balanced.
Comparison notes and quick badges use AI, grounded in the benefit data shown in the table. Confirm details on each issuer’s site.
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| Feature | Hdfc Bank Moneyback+ Credit Card | Paytm Sbi Card |
|---|---|---|
| Bank | HDFC Bank | SBI Cards |
| Network | Visa | Visa |
| Joining fee | Joining Fee of Rs.500 | Joining Fee of Rs.499 |
| Annual / renewal fee | Renewal Fee of Rs.500 | Renewal Fee of Rs.499 |
| Annual fee waiver | Spend Rs.50000 For Renewal Fee Waiver | — |
| Reward rate (headline) | Earn 2 CashPoints Per Rs.200 on Other Spends | Get 1% Cashback on Paytm Online & Offline Stores |
| Welcome benefit | Welcome Benefit - 500 CashPoints | Enjoy Complimentary Paytm First Membership |
| Milestone benefit | Renewal Benefit - 500 CashPoints | — |
| Foreign currency markup | 3.50% - Foreign Currency Transactions | 3.5% - Foreign Currency Transactions |
Which is better for rewards?
For rewards, the Hdfc Bank Moneyback+ Credit Card offers higher value for users who frequently shop on platforms like Amazon, Flipkart, BigBasket, and Swiggy, with 10X CashPoints on these spends and 2 CashPoints on groceries and other spends. In contrast, the Paytm Sbi Card provides cashback focused on Paytm transactions, with up to 3% cashback on Paytm Mall, Movies, and Travel, and 1-2% cashback on other Paytm spends. If your spending is diversified across multiple online retailers, Hdfc Bank Moneyback+ may deliver better rewards, while Paytm Sbi Card suits heavy Paytm users.
Which is better for travel?
Neither card offers dedicated travel lounge access or travel-specific perks, so their travel benefits are limited. However, Paytm Sbi Card includes 3% cashback on Paytm Travel bookings, which could be useful for frequent Paytm travel customers. Both cards have the same forex markup fee of 3.5%, so neither has a clear advantage for international travel expenses. Overall, travel benefits are modest and largely depend on whether you use Paytm's travel services.
Which has lower effective cost?
Both cards have nearly identical joining and renewal fees around Rs. 500, with the Hdfc Bank Moneyback+ Credit Card offering a renewal fee waiver if you spend Rs. 50,000 in a calendar quarter. Paytm Sbi Card does not specify any fee waiver conditions but provides a renewal benefit in the form of an e-voucher for Paytm First Membership on spending Rs. 100,000 annually. The fuel surcharge waiver of 1% is available on both cards, making their effective cost quite similar for most users.
Reward Structure Focus
Hdfc Bank Moneyback+ Credit Card rewards are spread across multiple popular online shopping and grocery platforms with capped 10X CashPoints, while Paytm Sbi Card concentrates cashback within the Paytm ecosystem including online, offline, movies, and travel categories. This makes the former better for diversified online shopping and the latter for Paytm-centric spending.
Fee Waiver Conditions
Hdfc Bank Moneyback+ Credit Card offers a clear renewal fee waiver if you spend Rs. 50,000 in a calendar quarter, providing an easier way to avoid fees. Paytm Sbi Card does not have a direct fee waiver but offers a renewal benefit tied to a higher annual spend of Rs. 100,000, which may be less accessible for some users.
Who should pick Hdfc Bank Moneyback+ Credit Card?
Consider Hdfc Bank Moneyback+ Credit Card if you shop frequently on Amazon, Flipkart, BigBasket, Reliance Smart SuperStore, or Swiggy and want to maximize cashback on these platforms. This card is also suitable if you prefer reward points that can be accumulated and redeemed flexibly and if you can meet the quarterly spend threshold to waive the renewal fee.
Who should pick Paytm Sbi Card?
Consider Paytm Sbi Card if you are a regular Paytm user who shops, books movies, or travels via Paytm and want straightforward cashback rewards on these spends. This card is also appealing if you value the complimentary Paytm First Membership and are comfortable with the Paytm ecosystem for your payments and bookings.
Frequently Asked Questions
Both Hdfc Bank Moneyback+ Credit Card and Paytm Sbi Card have joining and renewal fees of approximately Rs. 500.
Hdfc Bank Moneyback+ Credit Card waives the renewal fee if you spend Rs. 50,000 in a calendar quarter. Paytm Sbi Card does not have a direct fee waiver but provides a renewal benefit voucher on spending Rs. 100,000 annually.
Hdfc Bank Moneyback+ Credit Card offers 10X CashPoints on Amazon, Flipkart, BigBasket, and other platforms, making it better for diversified online shopping. Paytm Sbi Card offers cashback mainly on Paytm transactions.
Neither card offers domestic or international lounge access benefits.
Both cards charge a forex markup fee of 3.5% on foreign currency transactions.
Yes, Paytm Sbi Card offers a complimentary Paytm First Membership valid for 12 months as a welcome benefit.