Federal Bank Wave Credit Card

Federal Bank Wave Credit Card is a cashback credit card from Federal Bank. For every ₹200 you spend, you will earn 1 reward point. 1 RP = 0.25 Paisa.

Joining fee: Nil
Annual fee: Nil
Forex markup: 3.5%
Interest: 41.88% (3.49% per month)

More Federal cards

Rewards & cashback

For every ₹200 you spend, you will earn 1 reward point. 1 RP = 0.25 Paisa
Effective cashback rate: 0.125%
You can also get 10% cashback on your first five UPI transactions with this card

Milestone benefits

If the user spends ₹50,000 in a quarter, then he will receive 1000 bonus reward points

More benefits & features

UPI enable card

Fees & charges

Joining fee: Nil
Annual fee: Nil
Foreign currency markup: 3.5%
Interest rate: 41.88% (3.49% per month)
Late payment: ₹100 to ₹1000
Billing cycle: 30 Days
Other fees: Lifetime free credit card. | Cash Advance Charges: NIL. | Reward Redemption Fees: ₹99/- per redemption request

Pros and cons

What works well

For every ₹200 you spend, you will earn 1 reward point. 1 RP = 0.25 Paisa
Effective cashback rate: 0.125%
You can also get 10% cashback on your first five UPI transactions with this card
If the user spends ₹50,000 in a quarter, then he will receive 1000 bonus reward points

Worth knowing

No airport lounge access or travel benefits
Limited acceptance
Very low reward rates

Who can apply

Age: You must be at least 18 years old to apply
Citizenship: You should be a resident Indian citizen

How to apply

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

Details come from information published by Federal Bank and may change. Confirm current fees, benefits and eligibility with the bank before applying. Some links are partner links; MyRupaya may earn a commission at no extra cost to you.