10% cashback on first 5 UPI transactions, made within first 30 days of card activation (Max cashback: INR 200).
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Federal Bank Rupay Wave Credit Card
Rewards & Benefits
Welcome Benefits
10% cashback on first 5 UPI transactions, made within first 30 days of card activation (Max cashback: INR 200).
Milestone Benefits
Milestone Benefit: If the user spends INR 50,000 in a quarter, then cardholder will receive 1000 bonus reward points.
Cashback Rate
Reward System: For every INR 200 you spend, you will earn 1 reward point.
1 RP = 0.25 Paisa.
Effective General Cashback Rate: 0.125%.
Movie Benefits
None.
Dining Benefits
None.
Other Benefits
Card can be linked to UPI app such as GPAY, Paytm, phonepe, etc.
Lounge Access
None.
Rewards & Benefits
Welcome Benefits
10% cashback on first 5 UPI transactions, made within first 30 days of card activation (Max cashback: INR 200).
Milestone Benefits
Milestone Benefit: If the user spends INR 50,000 in a quarter, then cardholder will receive 1000 bonus reward points.
Cashback Rate
Reward System: For every INR 200 you spend, you will earn 1 reward point.
1 RP = 0.25 Paisa.
Effective General Cashback Rate: 0.125%.
Movie Benefits
None.
Dining Benefits
None.
Other Benefits
Card can be linked to UPI app such as GPAY, Paytm, phonepe, etc.
Lounge Access
None.
Fees & Charges of
Federal Bank Rupay Wave Credit Card
Joining Fee
0
Annual Fee
0
Cash Advance Fee
Interest rate
Interest Rate: 41.88% (3.49% per month).
Late Payment Fee
Late Payment Charges: INR 100 to INR 1000.
Foreign Currency Transactions Fee
Foreign Currency Mark-up Fees: 3.5%
Other Fees
Lifetime free credit card. | Cash Advance Charges: NIL. | Reward Redemption Fees: Rs. 99/- per redemption request.
Joining Fee
0
Annual Fee
0
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
Interest Rate: 41.88% (3.49% per month).
Late Payment Fee
Late Payment Charges: INR 100 to INR 1000.
Foreign Currency Transactions Fee
Foreign Currency Mark-up Fees: 3.5%
Other Fees
Lifetime free credit card. | Cash Advance Charges: NIL. | Reward Redemption Fees: Rs. 99/- per redemption request.
Fee and Charges of
Federal Bank Rupay Wave Credit Card
Special Features
UPI enable card.
Eligibility Criteria
Age: You must be at least 18 years old to apply.
Citizenship: You should be a resident Indian citizen.
Speical Feature, Eligibility and Benefits of
Federal Bank Rupay Wave Credit Card
How to apply for Credit Card?
Login to the FedMobile app.
Tap Click on Wave Credit Card banner.
Accept T&C & verify with MPIN.
Your Wave Credit Card is ready to use.
Contact Details
1800-420-1199
Account Opening and Procedure of
Federal Bank Rupay Wave Credit Card
The Federal Bank Wave Credit Card is a decent option for those looking for a free, no-frills credit card for domestic transactions with a focus on utility bill payments through UPI. However, if you travel internationally frequently, require a wider range of reward redemption options, consider other cards.
The Federal Bank Wave Credit Card is a decent option for those looking for a free, no-frills credit card for domestic transactions with a focus on utility bill payments through UPI. However, if you travel internationally frequently, require a wider range of reward redemption options, consider other cards.
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