Federal Bank Mastercard Signet
Rewards & Benefits
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.
Milestone Benefits
Milestone Benefit: On spending more than Rs 75,000 within a year, the annual membership fee of ₹750 is waived for the next year.
Cashback Rate
Effective cashback rate: 0.25%.
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%.
Movie Benefits
Buy One Get One on INOX movie tickets, once a quarter.
Dining Benefits
Other Benefits
Travel benefit.
Lounge Access
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2.5% of amount withdrawn or Rs. 500 whichever is higher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
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).
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Cash Advance Charges- 2.5% of amount withdrawn or Rs. 500 whichever is higher.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
Cons
No international lounge access facility available to the customers.
Low cashback rate.
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 general 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.
Rewards & Benifits
Welcome Benefits
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Rewards System
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
International Forex Markup
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Welcome Benefits and Reward System
Special Features
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
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 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:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
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 general 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.
The card offers low general cashback rate. The card has number of value add features. Overall because of low cashback rate the card does not meet expectations.
The card offers low general cashback rate. The card has number of value add features. Overall because of low cashback rate the card does not meet expectations.
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
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Fuel Surcharge
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Billing Cycle
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.