Federal Bank One Co-Branded Credit Card

Federal Bank · Applications paused

A fee-free, app-controlled co-brand card from Federal Bank and OneCard, with a virtual card on approval and a plastic or metal card on request. It pays 1 reward point per ₹50 and 5X points on a cardholder's top two spend categories each month. A point is worth ₹0.10 against the bill (OneCard's own explainer), so the base rate is 0.2%.

Annual fee
Lifetime free
Joining fee
None
Base rate
1 reward point per ₹50: 1 OneCard Reward Points per ₹50 (about 0.2% at cash value)
Lounges
None on record
Forex markup
1%
Data
From bank documents, checked 6 Nov 2026

Earns nothing on

  • No rewards on bills and utilities (from 2026-07-15)
  • No rewards on fuel
  • No rewards on rent or digital wallet loads
  • No rewards on money transfers or cash withdrawals
  • No rewards on merchant EMI transactions

Where the sources disagree

  • cash advance: The KFS and the charges schedule give cash advance fee "NA", while the MITC still describes interest on cash advances and a dynamic cash limit shown in the app. It is unresolved whether cash is available; the fee is recorded as 0.
  • minimum amount due: The KFS says 5% of the outstanding amount or ₹100, whichever is greater, plus card fees, overdue minimum, any over-limit amount and EMI instalments due. The MITC says the percentage is variable, from 5% to 100%, "based upon the cardholder's repayment status".

Terms the calculator does not value

  • The ₹0.10 point value comes from OneCard's 2021 rewards explainer (500 points = ₹50 off the bill). No bank document states a value and OneCard can change it; the 2026 T&C let the bank change the conversion rate at its discretion.
  • 5X rewards: the top 2 spend categories in a calendar month earn 5X points, but only if the month has purchases in at least 3 categories with at least ₹750 in each. Categories follow merchant category codes and the bank may reclassify merchants. Which two categories are "top" depends on the cardholder's own month, which the calculator cannot choose. Education, bills and insurance 5X increments are capped so that total rewards in those categories stay under 25,000 points, with no period stated. 5X points are credited on the 10th of the following month.
  • The network of the physical card, and whether a RuPay card works on UPI and earns on it, are not stated. The calculator assumes UPI spends earn the base rate on a RuPay card.
  • The bank may change the points programme, the conversion rate and the merchant categories, and may withhold rewards for suspected misuse (excessive utilisation, payments to other cards or loans, transfers to savings accounts).

Sources

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