This card provides you good reward points on your lodge access purchase protection Federal Bank RuPay Signet Credit Card is a lifetime free credit.
Card Type: Rupay Credit Card
Feature:
Rewards: 3x on electronic purchases, 2x on entertainment spending, and 1x reward point on all other purchases
Welcome offer: If you spend Rs 30,00 within 30 days of card issuance, you get an Amazon gift voucher worth Rs 200.
Lounge access: You also get access to Dragon Pass with this card
Fuel surcharge waiver:
You get a fuel surcharge waiver of 1% on fuel purchases from any fuel station in India
Other benefits:
- Lost card liability insurance
- Purchase protection insurance
- Zero Liability on Lost Card
Fees:
- Annual Fee: Free Lifetime
- interest rate: 0.49% per month (5.88% per annum) to 3.49% per month (41.88% per annum) based on your banking relationship with Federal Bank.
- Other charges: Processing fee for a cash advance, late payment fee, etc.
Required Document
- Pan Card
- Aadhar Card
- Income Proof
- Address Proof
Eligibility criteria
- The card is currently only available to existing Federal Bank customers.
- Age 21 to 60 years
- Salaried or self-employed
- Salary INR 25,000 per month
- Income Tax Return of INR 5 L
Pros & Cons
Pros
- Reward Structure: Offers a tiered reward system, with 3x points for healthcare and groceries, 2x points for utilities, and 1x points for other categories. This can be beneficial for those with high spending in these categories.
- Welcome Bonus: You get a welcome bonus if you spend Rs 3000 within 30 days of card issuance.
- Travel Benefits: You get complimentary domestic and international airport lounge access with this card.
- Potentially Lower Acceptance Issues: Nowadays in India, the RuPay Credit Card is very popular as compared to Visa and MasterCard.
Cons
- Limited International Acceptance: Rupay is less accepted internationally compared to Visa and Mastercard.
- Annual Fee: The card also has an annual fee, which can be easily waived off only after spending up to the prescribed limit.
- Reward Redemption Options: You have some limited options available to redeem points on this credit card.
Overall, the Federal Rupay Signet Credit Card can be a good option for you if:
- You spend a lot on healthcare, groceries, and utilities.
- You travel domestically often and would benefit from airport lounge access.
- You primarily make purchases within India.
Please Read Our other credit card reviews
Disclaimer
If there is any change in the card, whether the change is big or small, CredBanking is not responsible for it because the team has obtained this information from the internet.