HSBC Premier (Metal) vs Axis Bank Reserve (2026)
The answer flips at ₹3L a month: HSBC Premier (Metal) below it, Axis Bank Reserve above.
Head to head
| HSBC Premier (Metal) | Metric | Axis Bank Reserve |
|---|---|---|
| #11 — wins this row | Our rank | #25 |
| ₹12,000 joining, then ₹20,000/yr — wins this row | Fee — joining · annual (+ GST) | ₹50,000/yr |
| None | Fee waiver | ₹35,00,000 spend |
| 0.99% + GST — wins this row | Forex markup | 1.5% + GST |
| 2.99%/mo (35.88%/yr), computed from transaction date — Premier-specific rate (all other HSBC cards 3.75%/mo) | APR | 3.0%/mo (42.58%/yr, compounded as quoted by Axis) |
| 3.0% | Headline earn rate | 3.0% |
| HSBC Reward Points | Currency | Axis EDGE Reward Points |
| ₹1.00/pt | House value | ₹0.40/pt |
| 20,000 reward points on first spend (cards issued through 31 Dec 2026) — the Taj Epicure/EazyDiner membership welcome quietly ended by Apr 2026 | Welcome benefit | 15,000 EDGE Reward Points on first transaction within 30 days (joining benefit; renewal points discontinued 20-Apr-2024) |
| 72 of 789 | Lounge doors opened | 731 of 789 — wins this row |
| Qualified Premier relationship: ₹3L+ net monthly salary credit, or ₹50L quarterly TRB (₹40L if the account opened before 1-Jan-2026), or ₹1.15Cr+ mortgage plus the TRB criterion | Income — salaried | not published |
| Same Premier relationship gates — TRB or mortgage routes | Income — self-employed | not published |
Gold marks the better side of a row. House value is our ₹-per-point mark for each card's currency — the full valuation index →
Ranking-value face-off
Everyday spend at each card's base rate plus a realistic ~20% at its best accelerator (less for narrow or capped boosters) — milestones, fee waivers and the redemption haircut all at our house ₹/point. That's why the biggest headline rate doesn't automatically win. This is the ranking model, the one that orders the board; each card page prints the earn-rate-only net annual value instead, which reads lower for any card with an accelerator (both models, side by side). Tune it to your own spend in the calculator.
HSBC Premier (Metal) wins under ₹3L/month; Axis Bank Reserve takes over above it.
Where the lead changes hands
The lead changes hands at ₹3L a month: HSBC Premier (Metal) is ahead by ₹29,460 at ₹0.25L, Axis Bank Reserve by ₹30,800 at ₹5L.
Axis Bank Reserve runs a 6.0% booster on International spends, where HSBC Premier (Metal) earns one flat rate; HSBC Premier (Metal) charges twice — ₹12,000 to join, then ₹20,000 every year after.
HSBC Premier (Metal) draws above the line, Axis Bank Reserve below · ₹0.25L to ₹5L a month, step by step
| Monthly spend | HSBC Premier (Metal) | Axis Bank Reserve | In front |
|---|---|---|---|
| ₹0.25L | −₹11,000 | −₹40,460 | HSBC Premier (Metal) by ₹29,460 |
| ₹0.5L | −₹2,000 | −₹30,920 | HSBC Premier (Metal) by ₹28,920 |
| ₹0.75L | ₹7,000 | −₹21,380 | HSBC Premier (Metal) by ₹28,380 |
| ₹1L | ₹16,000 | −₹11,840 | HSBC Premier (Metal) by ₹27,840 |
| ₹1.25L | ₹25,000 | −₹2,300 | HSBC Premier (Metal) by ₹27,300 |
| ₹1.5L | ₹34,000 | ₹7,240 | HSBC Premier (Metal) by ₹26,760 |
| ₹1.75L | ₹43,000 | ₹16,780 | HSBC Premier (Metal) by ₹26,220 |
| ₹2L | ₹52,000 | ₹26,320 | HSBC Premier (Metal) by ₹25,680 |
| ₹2.25L | ₹61,000 | ₹35,860 | HSBC Premier (Metal) by ₹25,140 |
| ₹2.5L | ₹70,000 | ₹45,400 | HSBC Premier (Metal) by ₹24,600 |
| ₹2.75L | ₹79,000 | ₹54,940 | HSBC Premier (Metal) by ₹24,060 |
| ₹3L | ₹88,000 | ₹1,14,480 | Axis Bank Reserve by ₹26,480 |
| ₹3.25L | ₹97,000 | ₹1,24,020 | Axis Bank Reserve by ₹27,020 |
| ₹3.5L | ₹1,06,000 | ₹1,33,560 | Axis Bank Reserve by ₹27,560 |
| ₹3.75L | ₹1,15,000 | ₹1,43,100 | Axis Bank Reserve by ₹28,100 |
| ₹4L | ₹1,24,000 | ₹1,52,640 | Axis Bank Reserve by ₹28,640 |
| ₹4.25L | ₹1,33,000 | ₹1,62,180 | Axis Bank Reserve by ₹29,180 |
| ₹4.5L | ₹1,42,000 | ₹1,71,720 | Axis Bank Reserve by ₹29,720 |
| ₹4.75L | ₹1,51,000 | ₹1,81,260 | Axis Bank Reserve by ₹30,260 |
| ₹5L | ₹1,60,000 | ₹1,90,800 | Axis Bank Reserve by ₹30,800 |
Transfer reach
Both reach
- Singapore Airlines KrisFlyer 1:1 vs 5:2
- Qatar Airways Privilege Club (Avios) 1:1 vs 5:1
- The British Airways Club (Avios) 1:1 vs 5:1
Only HSBC Premier (Metal)
- Marriott Bonvoy
- ALL - Accor Live Limitless
- EVA Air Infinity MileageLands
Only Axis Bank Reserve
- Finnair Plus (Avios)
- Air Canada Aeroplan
- Ethiopian ShebaMiles
Full route maps on each card page, best ₹/point routes on the optimizer →
What to watch out for
HSBC Premier (Metal) · 1 more →
- Premier relationship required: ₹50L quarterly TRB (₹40L for pre-2026 accounts) or ₹3L/month salary credit
- ₹20,000 renewal fee if your relationship lapses (₹12,000 joining in year one)
- Fuel earns zero, and utilities/insurance/education/govt/e-wallets/jewellery/tax share one ₹1L-a-month earning cap (from 1 Apr 2025)
Axis Bank Reserve · 5 more →
- ₹50,000 fee; waiver needs ₹35 lakh annual spend
- Stuck on the 5:2 transfer ratio — 3% domestic earn on a super-premium fee
- Caught in Axis's EDGE devaluations, ₹199 transfer fees and 5L RP/yr caps
The call
For the ₹1L/month spender, HSBC Premier (Metal) nets ₹16,000 against −₹11,840 — a ₹27,840 gap. At ₹5L/month, Axis Bank Reserve nets ₹1,90,800 against ₹1,60,000 — a ₹30,800 gap. Lounge chasers: Axis Bank Reserve opens 731 of 789 tracked doors to HSBC Premier (Metal)'s 72.
Our standing verdicts: HSBC Premier (Metal) — Keep; Axis Bank Reserve — Keep. On our board, HSBC Premier (Metal) sits at #11 to Axis Bank Reserve's #25 — that's the overall call. Your spend pattern can overrule us: run your exact numbers →
Straight answers
Which is better, HSBC Premier (Metal) or Axis Bank Reserve?
HSBC Premier (Metal). It sits at #11 on our board to Axis Bank Reserve's #25. HSBC Premier (Metal) takes 4 of the 7 rounds we can score. HSBC Premier (Metal) wins under ₹3L/month; Axis Bank Reserve takes over above it.
HSBC Premier (Metal) or Axis Bank Reserve — which earns more at ₹3L a month?
At ₹3L a month, Axis Bank Reserve nets ₹1,14,480 against ₹88,000 — a ₹26,480 gap. Those are ranking-value figures: everyday spend at the card's base rate plus a realistic slice at its best accelerator, net of the fee.
Which costs less to hold, HSBC Premier (Metal) or Axis Bank Reserve?
HSBC Premier (Metal) — ₹12,000 joining, then ₹20,000/yr against ₹50,000/yr. HSBC Premier (Metal) waives its fee at no spend level — there is no waiver; Axis Bank Reserve at ₹35,00,000 of spend.
Which gets you into more airport lounges, HSBC Premier (Metal) or Axis Bank Reserve?
Lounge chasers: Axis Bank Reserve opens 731 of 789 tracked doors to HSBC Premier (Metal)'s 72. Visit quotas, guest charges and spend gates are per card — the lounge map carries each one.
How current is this comparison?
Card records last re-verified against their issuers' own documents: HSBC Premier (Metal) on 2026-08-09, Axis Bank Reserve on 2026-08-05. Every figure on this page — the ranking values, the fee rows, the lounge counts, the transfer ratios — is recomputed from those records each time the site builds, so a devaluation changes the call the day we log it.