Welcome Benefit: Users will get an Amazon Pay e-voucher worth INR 200 on a minimum spend of INR 3,000 in the first 30 days.
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Federal Bank Rupay Signet Credit Card
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get an Amazon Pay e-voucher worth INR 200 on a minimum spend of INR 3,000 in the first 30 days.
Milestone Benefits
Complimentary Swiggy vouchers on quarterly spend of INR 20,000
Cashback Rate
The value of 1 reward point = INR. 0.25.
Users will get 1 reward point on a spend of INR 100.
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%.
Movie Benefits
Buy one get one movie ticket once a quarter.
Dining Benefits
Complimentary Swiggy vouchers on spending a minimum of INR 20,000 in a quarter.
Other Benefits
Free accidental insurance of INR 2 lakhs.
Lounge Access
One free dometic lounge visit per quarter. Subject to a minimum spend of INR 20,000 in the previous quarter.
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get an Amazon Pay e-voucher worth INR 200 on a minimum spend of INR 3,000 in the first 30 days.
Milestone Benefits
Complimentary Swiggy vouchers on quarterly spend of INR 20,000
Cashback Rate
The value of 1 reward point = INR. 0.25.
Users will get 1 reward point on a spend of INR 100.
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%.
Movie Benefits
Buy one get one movie ticket once a quarter.
Dining Benefits
Complimentary Swiggy vouchers on spending a minimum of INR 20,000 in a quarter.
Other Benefits
Free accidental insurance of INR 2 lakhs.
Lounge Access
One free dometic lounge visit per quarter. Subject to a minimum spend of INR 20,000 in the previous quarter.
Fees & Charges
Joining Fee
INR 0
Annual Fee
Annual membership fee: INR 1500
Cash Advance Fee
2.5% of amount withdrawn or Rs. 500 whichever is higher.
Interest rate
41.88% (3.49% per month)
Late Payment Fee
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.
Foreign Currency Transactions Fee
International Forex Markup- 3.50% of the transaction value.
Other Fees
Cash Advance Charges- 2.5% of amount withdrawn or Rs. 500 whichever is higher. | Redemption Fee Rs. 99/- per redemption request. | EMI Processing charges : 2.5% of loan amount subject to minimum of Rs. 500
Fees & Charges
Joining Fee
INR 0
Annual Fee
Annual membership fee: INR 1500
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
41.88% (3.49% per month)
Late Payment Fee
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.
Foreign Currency Transactions Fee
International Forex Markup- 3.50% of the transaction value.
Other Fees
Cash Advance Charges- 2.5% of amount withdrawn or Rs. 500 whichever is higher. | Redemption Fee Rs. 99/- per redemption request. | EMI Processing charges : 2.5% of loan amount subject to minimum of Rs. 500
Special Features
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 Criteria
Minimum age of the card holders should be 18.
Only Indian residents can apply.
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 RuPay 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
Overall, the Federal Bank RuPay Signet Credit Card offers a compelling combination of affordability, everyday benefits, and travel perks, making it attractive for individuals with moderate spending habits who value value and accessibility. However, the lower reward rate, limited redemption options, and high interest rate are limitations to consider. If you're a high spender, frequent traveler, or prioritize specific features like wider network coverage or travel insurance, explore other options in the market.
Overall, the Federal Bank RuPay Signet Credit Card offers a compelling combination of affordability, everyday benefits, and travel perks, making it attractive for individuals with moderate spending habits who value value and accessibility. However, the lower reward rate, limited redemption options, and high interest rate are limitations to consider. If you're a high spender, frequent traveler, or prioritize specific features like wider network coverage or travel insurance, explore other options in the market.
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