HSBC Live+ Credit Card Review 2026 — 10% Cashback on Swiggy, Zomato and Zepto
Full HSBC Live+ credit card review 2026: 10% cashback on Swiggy, Zomato, Zepto, Blinkit and DMart Online. Lifetime-free-effective card with Rs 1,000 monthly ...
The HSBC Live+ credit card does something very specific very well: it gives 10% cashback on Swiggy, Zomato, Zepto, Blinkit, and DMart Online — the exact platforms that millions of urban Indians use for food delivery, grocery, and quick-commerce. For this category of spending, it is the strongest cashback rate available on any credit card in India in 2026.
The question is whether the Rs 1,000 monthly cashback cap on the 10% category limits it too much for your actual spending level — and whether the card makes sense for you beyond this specific use case.
Quick answer: If you spend Rs 8,000 to Rs 10,000 per month on Swiggy, Zomato, Zepto, or Blinkit, the HSBC Live+ is the best card for that spending. The Rs 1,000 monthly cashback cap means returns plateau at Rs 10,000 monthly spend in these categories. Pair it with another card for non-food spending.
HSBC Live+ — Card Details at a Glance
| Feature | Details |
|---|---|
| Annual Fee | Rs 999 + GST — waived at Rs 2 lakh annual spend. Not lifetime free despite some marketing. |
| Effective LTF Threshold | Rs 2 lakh annual spend = Rs 16,667 per month. Most active users will naturally waive the fee. |
| Network | Mastercard |
| Availability | Salaried applicants; approximately 19 cities |
| 10% Cashback on | Swiggy, Zomato, Zepto, Blinkit, DMart Online (confirmed). Also: Milkbasket was excluded per CardMaven — earns only 1.5%. |
| Monthly Cap on 10% | Rs 1,000 cashback per month (i.e., Rs 10,000 of spend at 10%) |
| 1.5% Cashback on | All other eligible retail transactions — no cap |
| Lounge Access | 4 domestic visits per year (1 per quarter) — no spend condition |
| Forex Markup | 3.5% |
| Welcome Benefits | Rs 1,000 cashback on Rs 20,000 spend in 30 days + Rs 750 voucher on first activation transaction |
The 10% Cashback — Which Platforms Exactly?
Related reading: Best Cashback Credit Cards India 2026.
Related reading: Reward Points vs Cashback.
The precise merchant coverage matters because not all food and grocery apps fall under the same Merchant Category Code (MCC). HSBC categorises the 10% tier by specific platform rather than a broad 'food delivery' category.
| Platform | 10% Cashback? |
|---|---|
| Swiggy (food delivery) | Yes |
| Swiggy Instamart (grocery delivery) | Yes — same Swiggy merchant |
| Zomato (food delivery) | Yes |
| Blinkit (via Zomato) | Yes — Blinkit transactions route through Zomato MCC |
| Zepto | Yes |
| DMart Online (dmart.in) | Yes |
| BigBasket | No — classified as grocery/supermarket at 1.5% |
| Milkbasket | No — explicitly excluded, earns 1.5% |
| Amazon Fresh | No — Amazon MCC, earns 1.5% |
| Dunzo | No — 1.5% |
Real Cashback Maths — Monthly Spending Scenarios
| Monthly Spend in 10% Category | Monthly Cashback |
|---|---|
| Rs 5,000 on Swiggy + Zepto | Rs 500 |
| Rs 8,000 across all platforms | Rs 800 |
| Rs 10,000 (hitting the cap) | Rs 1,000 (maximum) |
| Rs 15,000 (over the cap) | Still Rs 1,000 (capped) |
| Rs 10,000 in 10% cat + Rs 30,000 other | Rs 1,000 (10%) + Rs 450 (1.5%) = Rs 1,450 |
The Rs 12,000 annual cashback from the 10% category alone comfortably exceeds the Rs 999 annual fee — even for moderate food delivery spenders. For users who spend Rs 16,667+ per month across all categories, the fee is waived entirely.
The 1.5% on Everything Else — How Good Is It?
For all other retail spending (everything except fuel, utilities, insurance, wallet loads, EMI, government, rent, and the excluded grocery platforms), the HSBC Live+ earns 1.5% cashback with no monthly cap.
At 1.5%, the Live+ competes well with most other flat-rate cashback cards. The Axis Ace card earns 2% on all spends (via Google Pay for utilities at 5%), and SBI Cashback earns 5% on online with a Rs 2,000 cap. For general non-food spending, the Live+ is decent but not the best option — which is why pairing it with a second card makes sense.
The Exclusion List — What Does NOT Earn Cashback
Fuel and petrol pump transactions
Utility bill payments (electricity, water, gas, telecom)
Insurance premium payments
Wallet loads and prepaid card top-ups
EMI transactions and converted EMIs
Government payments and tax
Rental payments
Utility bills, insurance, and telecom payments are excluded from cashback. If a significant portion of your monthly spending is in these categories, the effective return on the full card spend will be lower than the 1.5% headline rate suggests.
Is HSBC Live+ Actually Lifetime Free?
No — despite some marketing language and certain review sites describing it as LTF, the HSBC Live+ charges a Rs 999 annual fee. It is waived when you spend Rs 2 lakh or more in a year on the card.
Rs 2 lakh annual = Rs 16,667 per month. If you are spending Rs 10,000 on food delivery and Rs 10,000 on general purchases monthly, you will naturally cross Rs 2 lakh and waive the fee with ease. Practically, for the target user of this card, it functions as LTF-equivalent — but the fee is real if you do not meet the threshold.
HSBC Live+ vs SBI Cashback Card — The Closest Competitor
| Feature | HSBC Live+ | SBI Cashback Card |
|---|---|---|
| Annual Fee | Rs 999 (waived Rs 2L) | Rs 999 (waived Rs 2L online spend) |
| 10% category | Swiggy/Zomato/Zepto/Blinkit/DMart | None (5% flat on all online) |
| Monthly cap | Rs 1,000 on 10% cat | Rs 2,000 online (post April 2026 devaluation) |
| Base rate | 1.5% on all eligible | 1% offline |
| Cashback format | Statement credit | Statement credit |
| Best for | Food delivery heavy users | General online shoppers on all platforms |
The Ideal Pairing Strategy
The HSBC Live+ is best used as a dedicated food-and-grocery card paired with a second card for everything else:
HSBC Live+ for: Swiggy, Zomato, Zepto, Blinkit, DMart (10% cashback up to Rs 1,000/month)
Amazon Pay ICICI for: Amazon (5% cashback, no cap, lifetime free)
SBI Cashback or Axis Ace for: All other online purchases (5% or 2% respectively)
This three-card stack, all either lifetime free or fee-waivable at low spend thresholds, covers virtually every online spending category at 2% to 10% cashback. Zero effective annual fees for most users.
Who Should Get the HSBC Live+ Card?
Definitely get it if: You regularly spend Rs 5,000 to Rs 10,000 per month on Swiggy, Zomato, Zepto, or Blinkit. This is your highest-returning card for those platforms.
Consider if: You want a solid 1.5% base rate on general spending from a reputable international bank.
Skip if: Your primary grocery spend is on BigBasket, Amazon Fresh, or Milkbasket — these platforms do not earn 10% on the Live+.
Skip if: You are self-employed — HSBC typically does not approve self-employed applicants for the Live+ easily.
Frequently Asked Questions
Q: Does the 10% cashback apply to Swiggy Instamart grocery orders?
Yes — Swiggy Instamart is treated as a Swiggy transaction (same merchant), so 10% applies. This is one of the key advantages over the HDFC Swiggy card, which stopped new applications in February 2026.
Related reading: Best Credit Card for Grocery India 2026.
Q: How quickly is cashback credited to my account?
HSBC credits cashback with a lag of up to 45 days from the transaction date. The cashback appears as a credit on your statement, not as points — no redemption required.
Q: Is there a foreign currency transaction fee?
Yes — 3.5% forex markup on all international transactions. The HSBC Live+ is not designed for international use; use a 0% forex card (Scapia) for international spending.
Q: Can I apply for the HSBC Live+ if I am self-employed?
HSBC generally restricts the Live+ to salaried applicants. Self-employed individuals typically need to apply for HSBC's other products or look at alternative cashback cards.