The HDFC Swiggy Credit Card continues to charge an annual fee of ₹500, but that fee is waived if cardholders spend ₹2 lakh in a year. This fee-waiver threshold is an important part of the card’s economics because it allows frequent users to hold the card at zero annual cost. Alongside the fee structure, the card delivers 10% cashback on Swiggy orders capped at ₹1,500 per month, 5% cashback on dining out, and 1% cashback on all other spends. For new applicants and existing cardholders alike, the fee waiver is a major practical feature.
The spend threshold is clear: ₹2 lakh annual spend unlocks the ₹500 waiver. That means users who route enough everyday transactions through the card can effectively neutralize the annual fee while still earning the card’s category bonuses. The welcome benefit remains a 3-month Swiggy One membership worth ₹599, which adds extra value for new cardholders. Because the fee is modest to begin with, the waiver threshold is not excessively high, making the card accessible to a large segment of food-delivery and dining-heavy users.
Compared with cashback rivals such as Axis Ace and HDFC Millennia, the HDFC Swiggy Credit Card is more specialized but potentially more rewarding for users who spend heavily on Swiggy. The ₹1,500 monthly cashback cap on Swiggy orders can be reached quickly, so cardholders should calculate whether their monthly food-delivery spend is high enough to justify the card even before the waiver kicks in. For those who spend ₹2 lakh annually, the card becomes especially attractive because the fee disappears while the rewards continue. For lighter users, the ₹500 fee may still be acceptable, but the value proposition is strongest when both the Swiggy cap and fee waiver are used efficiently.
To avail the fee waiver, cardholders simply need to meet the ₹2 lakh annual spend threshold; no opt-in or manual request is mentioned. The waiver is likely applied automatically once the billing cycle closes and eligible spend is tallied, but users should confirm in their statement or card terms. New applicants should also note that the Swiggy One welcome benefit may be credited separately from the fee-waiver logic. The key fine print is that the threshold is annual and not monthly, so planning spend across the full card year is essential if you want to avoid the ₹500 fee.