Travel on Points

Federal Bank RuPay Signet Credit Card

  • Joining fee

    Nil

  • Annual fee

    Nil

  • Best suited for

    Shopping

  • Reward type

    Reward Points

Rewards

  • Rewards rate

    3X RP/₹200 on Electronics and Apparel, 2X RP/₹200 on Entertainment Categories and 1X RP/₹200 on Other Categories

  • Welcome benefits

    Amazon Pay Vouchers Worth ₹200

  • Reward redemption

    1 Reward Point = ₹0.25 & When Redeeming Against Statement – 1 RP = ₹0.10

Benefits

  • Movie & dining

    Buy 1 Get 1 Offer on INOX Movie Tickets Once a Quarter, and Complimentary Swiggy Vouchers on Quarterly Spend of ₹20,000 as a Milestone Benefit

  • Domestic lounge

    Complimentary Access Once a Quarter, Four Free Visits Annually

  • Insurance

    Personal Accident Insurance Cover of Up to ₹2 lakhs

Fees & charges

  • Rewards redemption fee

    ₹99 On Every Redemption Request

  • Foreign currency markup

    3.5%

  • Interest rates

    From 0.69% Monthly (8.28% Annually)

  • Fuel surcharge waiver

    1% Fuel Surcharge Waiver on Fuel Transactions Between ₹400 and ₹5,000

  • Cash advance charges

    2.5% of the Amount or a Minimum of ₹500, Whichever is Higher

Product highlights

  • Amazon e-voucher worth ₹200 as a welcome gift
  • Up to 3 Reward Points on everyday spending
  • Buy 1 Get 1 Free offer on movie tickets
  • Complimentary domestic lounge access
  • Complimentary Swiggy vouchers on achieving the spend milestone
  • Exciting dining discount offers

Pros & cons

Pros

  • Currently being offered as a lifetime free credit card
  • Available on Visa as well as RuPay networks
  • Users can link the RuPay variant of the credit card to UPI

Cons

  • There is no complimentary international airport lounge access with the card
  • The card does not offer any lifestyle perks other than BOGO movie offers
  • The card does not have an extraordinary reward rate, there are better reward rates with other lifetime free credit cards.

FAQs

Do I get complimentary airport lounge access with the card?

Yes, this credit card provides complimentary domestic lounge access. It gives four complimentary lounge access per year, limited to one per quarter.

What is the value of one reward point?

When redeemed at the Federal Rewards portal, the value of one point is ₹0.25, however, when redeemed as cash against the statement, 1RP=₹0.10.

What is the interest rate of the card?

The interest rate on the Federal Bank RuPay Signet Card starts from 0.69% monthly (8.28% annually)

Can this card be linked for UPI payments?

Yes, just like all RuPay credit cards, this credit card can also be linked to UPI.