Ranked by real value back, not headline reward points. Points are converted at each programme's realistic redemption value, so a card earning ten points per hundred rupees at ₹0.25 a point loses to one earning three at ₹1.
On dining, the SBI Card BPCL Octane currently leads at 10% value back.
| # | Card | Value back | Detail |
|---|---|---|---|
| 1 | SBI Card BPCL Octane | 10% | 10X → 2.5% |
| 2 | Axis Magnus | 6% | |
| 3 | Axis Magnus for Burgundy | 6% | |
| 4 | ICICI Emeralde | 4% | |
| 5 | HDFC Infinia Metal | 3.33% | |
| 6 | HDFC BizBlack Metal | 3.33% | |
| 7 | HSBC Premier | 3% | |
| 8 | ICICI Emeralde Private Metal | 3% | |
| 9 | HDFC Regalia Gold | 2.67% | |
| 10 | HDFC BizPower | 2.67% |
Most accelerated rates stop at a monthly or annual spend cap and drop to a base rate afterwards. A card that looks best on paper can lose over a full year of spending. The calculator handles that automatically once you enter your amount.
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