Federal Bank Credit Cards – Apply & Check Eligibility, Interest Rates

Federal bank is one of the commercial banks in India spread across the country with branches in the major cities. Federal Bank is a trusted bank and the perfect banking partner offering excellent banking services and facilities to its customers. Let’s discuss about the best types of credit cards designed by Federal Bank.

1. Federal Bank SBI Gold credit card

Federal Bank SBI Gold credit card is a co-branded credit card designed by Federal Bank and SBI. This credit card brings exclusive benefits and programs to meet the requirements of the customers. The Federal Bank SBI Gold Credit Card gets accepted worldwide. The cardholders can use the card at 24 million outlets across the world and 3 million outlets in India.

Federal Bank credit card

The cardholders will earn one reward point for purchasing Rs 100 every time. You can redeem the reward points and use it for any purpose. With accelerated reward points, the cardholders will receive 2.5% value back, i.e., ten reward points on every Rs 100 spent on purchasing grocery. You will get a 2.5% surcharge waiver each time while purchasing fuel using the credit card.

You will receive Rs 100 on using the credit card for cash withdrawal at ATM within the first 30 days of receiving the card. The cardholders will also receive 2000 reward points as the welcome bonus on making the first purchase. You can also avail add-on card for your family members.

You make expensive purchases and availing flexible payment option; you can make the payment of the unpaid balance later at low-interest charges. Accessing the Flexipay option, you can purchase expensive items and payback in monthly installments at low-interest charges. The card also comes with easy money facility. You get easy access to services like E-Statement, Card Alerts, Online Card services, and DropBox Locator.

The applicant needs to pay Rs 499 as the one-time joining fee. The annual fee is Rs 499, and if your annual purchase using the credit card is more than Rs 90000, the bank will waive off the annual fee. There is no fee charged for an add-on card. The bank provides a grace period of 20-50 days which is the interest-free period. If you fail to pay the outstanding amount within the grace period, the bank will charge 3.35% monthly or 40.2% annually. The reward redemption charge is Rs 99, and the fee for replacing the card is Rs 100. The interest charged on over-limit is 2.5%. To avail the card, visit the bank and learn about the eligibility as the bank decides it considering some factors of the applicant.

2. Federal Bank SBI Platinum credit card:

Federal Bank SBI Platinum credit card is a co-branded credit card with a maximum credit limit of up to Rs 5 lakhs. This credit card gets accepted worldwide at over 24 million outlets abroad and 325000 outlets in India. Federal Bank offers flexible credit facility with this card. The cardholders can avail add-on cards for their family members. You can also use the card for cash withdrawal at more than 1 million ATMs across the world.

The cardholders can make expensive purchases using the card and make the payment in installments at lower interest rates availing the Flexipay option. You can use the card for a balance transfer at lower interest rates. Using the card for fuel filling, you need not pay the fuel surcharge. You need to purchase fuel for Rs 500- Rs 3000 per transaction to avail the benefit.

The joining fee and the annual fee are Rs 2999. On card activation, you will receive a gift voucher worth Rs 3000. The cardholders will receive two reward points on every Rs 100 spent. For using the card for dining or international/departmental spends, you will receive ten reward points. Using the card for purchasing anything worth Rs 1000 or more within 30 days, you will receive 500 reward points. The cardholders will also get discounts at different hotels across the country.