Federal Bank MagniFi Credit Card
Rewards & Benefits
Welcome Benefits
None.
Milestone Benefits
None.
Cashback Rate
Welcome Benefit: None.
Reward System: 1 Fi point = INR 0.25.
On weekdays cardholder will get 2 Fi points on spending INR 100.
Weekdays Cashback Rate: 0.5%.
On Weekends cardholder will get 20 Fi points on spending INR 100.
Weekends cashback rate: 5%.
Movie Benefits
20% off once a month on Bookmyshow, max cashback: INR 100.
Dining Benefits
20% off once a month on Zomato, max cashback: INR 100.
Other Benefits
Lifetime free credit card.
Easy to apply: Users can apply for the card online or through the Fi app.
20% off once a month on Zomato, max cashback: INR 100.
20% off once a month on Zepto, max cashback: INR 100.
20% off once a month on Amazon, max cashback: INR 100.
20% off once a month on Bookmyshow, max cashback: INR 100.
Points can be converted to air miles with Club ITC and Krisflyer.
Discount offers from partner brands from time to time.
Lounge Access
1 free domestic airport lounge visit per quarter.
Rewards & Benefits
Welcome Benefits
None.
Milestone Benefits
None.
Cashback Rate
Welcome Benefit: None.
Reward System: 1 Fi point = INR 0.25.
On weekdays cardholder will get 2 Fi points on spending INR 100.
Weekdays Cashback Rate: 0.5%.
On Weekends cardholder will get 20 Fi points on spending INR 100.
Weekends cashback rate: 5%.
Movie Benefits
20% off once a month on Bookmyshow, max cashback: INR 100.
Dining Benefits
20% off once a month on Zomato, max cashback: INR 100.
Other Benefits
Lifetime free credit card.
Easy to apply: Users can apply for the card online or through the Fi app.
20% off once a month on Zomato, max cashback: INR 100.
20% off once a month on Zepto, max cashback: INR 100.
20% off once a month on Amazon, max cashback: INR 100.
20% off once a month on Bookmyshow, max cashback: INR 100.
Points can be converted to air miles with Club ITC and Krisflyer.
Discount offers from partner brands from time to time.
Lounge Access
1 free domestic airport lounge visit per quarter.
Fees & Charges
Joining Fee
Nil
Annual Fee
Nil
Cash Advance Fee
Nil
Interest rate
Interest Rate: 3.49% per month i.e. 41.88% annually
Late Payment Fee
Late Payment Fees: Ranges from INR 100 to INR 2000
Foreign Currency Transactions Fee
Forex Mark-up Fees: 3.5%
Other Fees
Joining and Renewal Fees: Nil | Cash Advance Charges: Nil - ATM cash withdrawal not provided on the card.
Fees & Charges
Joining Fee
Nil
Annual Fee
Nil
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
Interest Rate: 3.49% per month i.e. 41.88% annually
Late Payment Fee
Late Payment Fees: Ranges from INR 100 to INR 2000
Foreign Currency Transactions Fee
Forex Mark-up Fees: 3.5%
Other Fees
Joining and Renewal Fees: Nil | Cash Advance Charges: Nil - ATM cash withdrawal not provided on the card.
Special Features
Lifetime free credit card which provides 20% cashback every weekend on Zomato, Blinkit, AJIO, and BookMyShow.
Eligibility Criteria
Age: You must be at least 18 years old.
Citizenship: You must be a resident of India.
Credit Score: While the official requirement isn't explicitly stated, it's generally recommended to have a good credit score (above 700) for better chances of approval.
Income: Some sources suggest a minimum income requirement might exist, but the exact amount is not publicly disclosed.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
The MagniFi credit card can be applied for online through the Fi app. Here is the step-by-step process:
Download the Fi app and create an account.
Click on the "Credit Cards" tab.
Select the MagniFi credit card.
Fill out the online application form.
Submit the application form.
Once you have submitted your application, you will be notified of the decision within a few days.
Contact Details
1800-425-1199 or 1800-420-1199.
Account Opening and Procedure
The Federal Bank MagniFi Credit Card, issued through the Fi app, is a unique card targeting weekend spenders with its focus on weekend rewards and no annual fees. MagniFi Credit Card is a good option for frequent weekend spenders, especially on the partner brands offered. However, if your spending is more spread out throughout the week or you prefer flexible reward redemption options, other cards might be a better fit.
The Federal Bank MagniFi Credit Card, issued through the Fi app, is a unique card targeting weekend spenders with its focus on weekend rewards and no annual fees. MagniFi Credit Card is a good option for frequent weekend spenders, especially on the partner brands offered. However, if your spending is more spread out throughout the week or you prefer flexible reward redemption options, other cards might be a better fit.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai