Federal Bank Mastercard Signet
MyRupaya Ratings
Product Details
Credit Card Name :
Federal Bank Mastercard Signet
Bank Name :
Federal Bank
Type :
Lifestyle Credit Card
Interest Rate :
Depends on your bank balance maintained in Federal Bank Saving Account: Average Monthly Balance (1) less than Rs.50,000 41.88% (3.49% per month) (2) Rs.50,000 - 3,00,000 30.00% (2.49% per month) (3) Rs.3,00,001- 10,00,000 18.00% (1.49% per month) (4) More than Rs.10,00,000 5.88% (0.49% per month).
Eligibility :
Minimum age of the card holders should be 18.
Only Indian residents can apply.
Pros
Welcome Benefit: Users will get an Amazon Pay e-Voucher worth ₹200 on a minimum spend of Rs. 10,000 in the first 30 days.
Reward System: The value of 1 reward point = INR. 0.25. Users will get 1 reward point on a spend of INR 200. 3x rewards on spending for the Electronics & Apparel categories, cashback rate: 0.75%. 2x rewards on the Entertainment category, cashback rate: 0.50%. 1x rewards for other categories, effective cashback rate: 0.25%.
Buy One Get One on INOX movie tickets, once a quarter.
Complimentary Lounge Access: Once a quarter at domestic airports, and complimentary Swiggy vouchers on quarterly spending of ₹20,000.
Milestone Benefit: On spending more than Rs.75,000 within a year, the annual membership fee of ₹750 is waived for the next year.
Cons
No international lounge access facility available to the customers.
Low cashback rate.
Pros & Cons
Welcome Benefits
Users will get an Amazon Pay e-Voucher worth ₹200 on a minimum spend of Rs. 10,000 in the first 30 days.
Rewards System
The value of 1 reward point = INR. 0.25. Users will get 1 reward point on a spend of INR 200. 3x rewards on spending for the Electronics & Apparel categories, cashback rate: 0.75%. 2x rewards on the Entertainment category, cashback rate: 0.50%. 1x rewards for other categories, effective cashback rate: 0.25%.
International Forex Markup
3.5%.
Welcome Benefits and Reward System
Special Features
Low interest rates.
Eligibility Criteria
Minimum age of the card holders should be 18.
Only Indian residents can apply.
Benefits
Low rate of interest.
Movie ticket offers.
Welcome benefit.
Travel benefit.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online:
Visit the Federal Bank website and go to the Credit Cards section.
Click on the Apply Now button for the Federal Bank Mastercard Signet credit card.
Fill in the online application form with your personal and financial details.
Submit the application form and wait for approval.
Required documents:
Proof of identity (Aadhaar card, PAN card, or passport).
Proof of income (salary slips, bank statements, or income tax returns).
Proof of address (Aadhaar card, bank statement, or utility bill).
Contact Details
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Welcome Benefit: Users will get an Amazon Pay e-Voucher worth ₹200 on a minimum spend of Rs. 10,000 in the first 30 days.
Reward System: The value of 1 reward point = INR. 0.25. Users will get 1 reward point on a spend of INR 200. 3x rewards on spending for the Electronics & Apparel categories, cashback rate: 0.75%. 2x rewards on the Entertainment category, cashback rate: 0.50%. 1x rewards for other categories, effective cashback rate: 0.25%.
Buy One Get One on INOX movie tickets, once a quarter.
Complimentary Lounge Access: Once a quarter at domestic airports, and complimentary Swiggy vouchers on quarterly spending of ₹20,000.
Milestone Benefit: On spending more than Rs.75,000 within a year, the annual membership fee of ₹750 is waived for the next year.
No international lounge access facility available to the customers.
Low cashback rate.
Application Procedure
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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
Product Review
Fees & Charges
Joining fee: INR 0
Annual membership fee: INR 1500
Cash Advance Charges- 2.5% of amount withdrawn or Rs. 500 whichever is higher.
Late payment charges - Less than Rs. 100 0 Rs. 100- Rs. 500 100 Rs. 501 to Rs. 5,000 500 Rs. 5,001 to Rs. 10,000 600 Rs. 10,001 to Rs. 25,000 750 Rs. 25,001 to Rs. 50,000 950 More than Rs. 50,000/- 1000.
Redemption Fee Rs. 99/- per redemption request.
EMI Processing charges : 2.5% of loan amount subject to minimum of Rs. 500
International Forex Markup: 3.50% of the transaction value.
Fuel Surcharge
1% fuel surcharge, no waiver.
Billing Cycle
30 days.