Federal Bank MagniFi Credit Card: A Perfect Blend of Banking Trust and Fintech Ease
- Pratibha Sharma
- Aug 18, 2025
- 6 min read
Updated: Dec 10, 2025
In the latest blog, we are going to give you the information about the Federal Bank MagniFi credit card, which will mostly cover the welcome benefits, cashback rate, and others. To know more, see below:
The Federal Bank MagniFi Credit Card is created with individuals who are adding value to their daily expenditure. It is not another mode of payment; it is more of a mechanism to save on things that you are already paying like fuel, subscriptions, or utility bills. With a swipe, you will receive cashback or points that are converted into vouchers, discounts or even travel benefits later on.
The partnership between Federal Bank and Fi Money is a brilliant idea because it resulted in the creation of the Federal Bank MagniFi Credit Card. Federal Bank will introduce its trustworthiness and knowledge in banking, and Fi will introduce a modern, application-driven experience that enables the card to be easily managed through your phone. They have designed a card together that is easy, digital, and rewarding, ideal for a person who desires the assurance of a reputable bank and also the ease and benefits of a fintech application.
The fact that this card is more of a lifestyle and rewards mix is what makes it an even more appealing card. And, should you be a person who travels now and then, even once in a while, the free access to the airport lounges will help to make your travelling experience less stressful and more comfortable. Conversely, among ordinary shoppers (online and offline), the reward program will incur no cost without coverage.
What Is The Cashback Rate of the Federal Bank MagniFi Credit Card?
Welcome Benefit: None.
Reward System: 1 Fi point = INR 0.25.
On weekdays, cardholders will receive 2Fi points on spending INR 100.
Weekdays Cashback Rate: 0.5%.
Movie Benefits
-20 per cent monthly on BookMyShow, the maximum cashback is INR 100.
Dining Benefits
20 per cent discount after every month on Zomato, maximum cashback: INR 100.
Other Benefits
A lifetime free credit card. Simple to use: The card is simple to apply, either via the Fi app or online.
20 per cent discount once a month on Zomato, maximum cashback: INR 100.20 per cent discount once a month on Zepto, maximum cashback: INR 100.
One day every month 20 per cent discount on Amazon with a maximum off money: INR 100.
20% discount after every month on BookMyShow, maximum cashback: INR 100. Club ITC and Krisflyer convert the points to air miles. Occasional discount deals with partner brands.
The loyalty program of ITC Hotels is called Club ITC. It targets guests who frequent the ITC properties in terms of staying, dining, and other services in India. Rather than being a mere membership card, it operates in a rewards scheme where you get value returned in the form of each time you spend at the ITC Hotels or one of the partner restaurants. Joining is free, and upon joining, you begin earning points on all expenses.
The Singapore Airlines membership program is named KrisFlyer.
You get a program known as KrisFlyer miles when travelling with Singapore Airlines, Scoot, and their partners airlines.
Consider these miles as points. The higher the number of flights you make, the higher the points earned.
These miles will be available later on and allow you to use the miles in place of money to get flight tickets, business/first class upgrade, or even allow you to pay with partner brands.
Lounge Access
One visit to the domestic airport lounge every three months.
Special Feature:
An annual credit card of 20% cashback on all purchases in the form of a lifetime credit card on Zomato, Blinkit, AJIO, and BookMyShow.
Fees and Charges:
Joining fees: Nil
Annual fees: Nil
Cash advance fees: Nil
Late Payment fees: Late Payment Fees: Ranges from INR 100 to INR 2000
Interest fees: Interest Rate: 3.49% per month, i.e., 41.88% annually
Eligibility:
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: There is some speculation there may be some sort of a minimum income requirement, though the specific amount is not publicly announced.
How To Apply For This Card?
MagniFi credit card is available as an online application on the Fi app. This is the process step by step:
Install the Fi application and open an account.
Click on the "Credit Cards" tab.
Pick the MagniFi credit card.
Complete the online application form.
Submit the application form.
After you have applied, you can be notified within a few days of whether you are successful or not.
Contact Details
1800-425-1199 or 1800-420-1199.
What Are The Pros And Cons Of Having a Federal Bank MagniFi Credit Card?
Pros:
Cashback on necessities - You but use it to fuel, online utility bills and online subscriptions, your daily burden is lessened by users.
Shopping rewards - You can get reward points on shopping both online and offline, which can be redeemed in the future.
Access to airport lounges - Free access to airport lounges provides more convenience for travel.
Visa Platinum benefits - It is accompanied by purchase protection and worldwide acceptance, as well as Visa lifestyle exclusive deals.
Security & insurance - Additional cover should there be an emergency, which will provide peace of mind.
Balanced card. Not excessively exclusive, and thus simpler to be eligible than Signature or Infinite cards.
Cons:
Restricted access to the lounge - Access to the lounge is restricted to a few visits per year, in contrast to other cards.
Not upscale enough - Does not have access to luxury benefits such as concierge or international travel insurance available to Signature/Infinite cards.
The reward rate is average. The Reward rate during working days is lower than that of weekends.
Conclusion:
The Federal Bank MagniFi Credit Card is able to combine savings, rewards and lifestyle attractions in a manner that it becomes the best with regard to everyday spending. convenient to everyday spending. It does not position it as a very high-end card, accessible only to a small segment of the population, but rather positions it as something that is accessible to more people, although with some benefits that are likely to make your spending experience feel more rewarding. The fuel and utility bill cashback and the digital subscriptions cover the recurring costs, whereas the reward points on buying make sure that every purchase returns some reward to the users in the form of reward points.
Its travel advantage is another strength, which is a free entry to a lounge, which can be valued even by infrequent flyers. The move to operate the card on the Visa Platinum platform is reasonable since by doing so, the card will be able to offer the advantages of international acceptance, protection, and special offers to the cardholders, without making the card too costly or difficult to get qualified.
This card is intended to the level of people who desire to save money, decent rewards, but minimal lifestyle comforts without the high cost of a luxurious credit card. It offers the right balance between value and convenience to the majority of users.
The MagniFi card, being based on the Visa Signature network, introduces such superior features as worldwide acceptance, concierge support, and free insurance cover. These are minorities which can be summed up to make your card more helpful and fulfilling; therefore, these features render it more competitive than other cards.
All in all, it is a card that will allow the user to enjoy the most convenient experience, combining savings and comfort. When you are eating out, watching your favourite shows, making tickets, and filling gas with the MagniFi Credit Card, you are guaranteed to get more benefits once you make payments.
Federal Bank Description:
The Federal Bank is one of the famous Indian private banks whose headquarters is located at Aluva in Kerala. It began as a small local bank several decades ago, yet in the course of time, it has become one of the reliable brands in the Indian banking environment. The only difference that has made Federal Bank unique is the manner in which it has been able to adopt technology without losing its customer-friendly atmosphere.
The bank provides virtually all of the services that you would expect: savings accounts, deposits, loans, credit cards, investment opportunities and NRI banking. It possesses extensive branches and ATMs; yet, it has established a powerful online platform. Its online services and its mobile banking application are user-friendly, and this is why it is preferred by many young professional people, even NRIs.
The other important fact is that Federal Bank has collaborated with large payment networks, including Visa, Mastercard and RuPay, to provide the customers with a selection of card payment options. The bank has also tailored its products to meet various needs, whether it is to go shopping, travelling or paying everyday bills.
To put it simply, Federal Bank has been able to remain modern and technology-oriented without losing the trust of customers and the personal touch that they have in a bank.
If you want to know the unbiased AI score of the Federal Bank MagniFi Credit Card, read their detailed review, click here
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