Federal Bank
Federal Bank Rewards Credit Card
Entry-level Visa with high rewards on retail spend
₹500/yr annual fee · 2x rewards
By FinWiz24 Research Desk · Last reviewed · How we review
FinWiz24 Research Desk
Verified independently against issuer Terms & Conditions
Editorial Team
-
Best for
- First-time cardholder
- Entry-level Visa user
-
What we like
- 2x rewards on retail spend
- Low ₹50,000 waiver threshold
- Lower joining fee than premium Federal cards
-
Watch out for
- ₹500 non-waiver joining fee
- Standard 3.5% forex markup
- No lounge access
Annual fee
₹500/yr
Reward rate
2x
Min. income
₹2,50,000
Forex markup
3.5%
Lounge access
None
Eligibility
₹2.50 lakh/yr · CIBIL 700+
Reward cap
Not explicitly stated
Welcome benefit
₹500 voucher on annual spends ≥ ₹50,000; ₹1,500 voucher on ≥ ₹1,50,000.
Federal Bank Rewards Credit Card review: entry-level Visa with high rewards on retail spend, fuel surcharge waiver, and milestone vouchers for first-time Federal Bank cardholders.
Who is this for
- First-time cardholder
- Entry-level Visa user
What we like
- 2x rewards on retail spend
- Low ₹50,000 waiver threshold
- Lower joining fee than premium Federal cards
Watch out for
- ₹500 non-waiver joining fee
- Standard 3.5% forex markup
- No lounge access
Issuer
Federal Bank is an RBI-regulated entity. See RBI's Master Directions on Credit Cards for the regulatory framework.
Fees and charges
| Fee | Amount | Waiver |
|---|---|---|
| Joining fee | ₹500 | Not waivable |
| Annual fee | ₹500 | Waived on annual spends ≥ ₹50,000 |
| Renewal fee | ₹500 | Waived on annual spends ≥ ₹50,000 |
| Forex markup | 3.5% | Not waivable |
| Late payment | ₹750 | Not waivable |
| Cash advance | 2.5% of amount | Not waivable |
| Fuel surcharge | 1% | 1% surcharge waived on fuel transactions between ₹400 and ₹4,000 (max ₹100/month) |
Rewards
| Spend category | Rate | Cap | Redemption |
|---|---|---|---|
| All spends | 2 Reward Points per ₹100 on retail spend; 1 Reward Point per ₹100 on utility & insurance | Not explicitly stated | Redeemable via Federal Bank rewards portal |
| DINING | 2.00 | — | 0.25 |
| SHOPPING | 2.00 | — | 0.25 |
Benefits
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2x Rewards on Retail Highlight
2 Reward Points per ₹100 on retail spend.
-
Fuel Surcharge Waiver
1% surcharge waiver on fuel transactions between ₹400 and ₹4,000 (max ₹100/month).
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Milestone Vouchers
₹500 voucher on annual spends ≥ ₹50,000; ₹1,500 voucher on ≥ ₹1,50,000.
Eligibility
- Age
- 21–65 years
- Min. income
- ₹2,50,000
- Min. credit score
- 700+
- Score note
- Decent credit card required
- Employment
- Salaried, self-employed
- Documents
- PAN, Aadhaar (DigiLocker sufficient), salary slip / ITR for self-employed
Federal Bank Rewards Credit Card is the entry-level Visa tier. It targets first-time Federal Bank cardholders with rewards on retail spend and milestone vouchers.
Fees and rewards
- Joining fee: ₹500 (non-waiver)
- Annual fee: ₹500, waived on annual spends ≥ ₹50,000
- Rewards: 2 Reward Points per ₹100 on retail spend
- Forex markup: 3.50%
Benefits
- 2x rewards on retail spend
- ₹500 milestone voucher on ₹50,000 spend; ₹1,500 on ₹1,50,000
- 1% fuel surcharge waiver (max ₹100/month)
Eligibility
Minimum annual income ₹2,50,000 (salaried) / ITR-based for self-employed. Decent credit score required.
Card data is compiled from the issuer’s published fee schedules. Last reviewed 2026-09-26.
Step-by-step application guide: Read the Federal Bank Rewards Credit Card apply walkthrough →
Apply for Federal Bank Rewards Credit Card
Last reviewed · How we review
FinWiz24 may earn a commission from issuer links. Our editorial process is independent and unbiased.
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Frequently asked questions
Is the Federal Bank Rewards Credit Card worth it?
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Does the Federal Bank Rewards Credit Card offer airport lounge access?
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Disclaimer: Card details are based on publicly available issuer schedule of charges. Eligibility and approval are at the issuer’s sole discretion. FinWiz24 does not guarantee card approval or specific terms. Always read the issuer’s terms and conditions before applying.
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