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Federal Bank Signet
Visa
Federal Bank Signet
Lifetime-free (since April 2023) with modest electronics/apparel and entertainment reward multipliers — a reasonable no-cost card rather than a strong travel or dining pick. Hitting ₹20,000 of spend in a quarter also unlocks a Swiggy voucher and a buy-one-get-one movie ticket offer for that quarter, though neither carries over if spend falls short. Redeeming points against the Federal Rewards catalog gets roughly double the value of redeeming the same points as a statement credit, so cash-back-style redemption is the weaker option here.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
0.25%
Card network
Visa
Card tier
Mid
Who this card fits
Best suited to applicants with a credit score of roughly 720+ whose spend is concentrated in online shopping. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 0.25% base rate
- Domestic lounge access: 1 complimentary domestic airport lounge visit per quarter, subject to minimum ₹20,000 spend in the preceding quarter
- Insurance benefits: Personal accident insurance cover of ₹2 lakh
Benefits by category
- 🍽️ Dining & food delivery
0.5% reward rate
- ✈️ Travel
1 complimentary domestic lounge visit/quarter (min. ₹20,000 spend in preceding quarter)
- 🛡️ Insurance
Personal accident insurance cover ₹2 lakh
- 🛍️ Shopping
0.75% reward rate
- ⛽ Fuel
1% fuel surcharge waiver
- 🌍 Forex / international spend
2.5% forex markup on international transactions
Eligibility
- Minimum credit score: 720
- Minimum monthly income: ₹35,000
- Employment: salaried, self-employed
- Age: 21–60
Fees & charges
- Foreign currency markup: 2.5%
- Interest rate: 42% p.a.
- Fuel surcharge waiver: 1% surcharge waiver on fuel transactions between ₹400 and ₹4,000, capped at ₹400/month
- Cash advance charges: 2.5% of amount withdrawn, subject to a minimum of ₹500
Benefits
- 1 complimentary domestic lounge visit/quarter (min. ₹20,000 spend in preceding quarter)
- ₹200 Amazon Pay e-voucher on ₹3,000 spend within 30 days
- Personal accident insurance cover ₹2 lakh
- 1% fuel surcharge waiver
Pros
- + Lifetime free
- + Personal accident insurance included
- + Quarterly lounge access at low spend threshold
- + Quarterly Swiggy voucher and BOGO movie offer on hitting a modest spend target
Cons
- − Very low reward rates across all categories
- − Smaller acceptance/service network than larger banks
- − Redeeming points as a statement credit yields roughly half the value of catalog redemption
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