Secured Federal Bank One Co-Branded Credit Card (OneCard, against a fixed deposit)

Federal Bank · Applications paused

The fixed-deposit version of the Federal Bank OneCard, opened in the OneCard app by creating a 12-month fixed deposit with Federal (minimum ₹5,000). The credit limit is up to 100% of the deposit, from ₹5,000 to ₹2.5 lakh. It carries the same terms as the unsecured OneCard: no joining or annual fee, 1 reward point per ₹50 and 5X points on the top two spend categories each month. A point is worth ₹0.10 against the bill (OneCard's own statement). New issuance is paused.

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

  • status: Federal's OneCard documents (T&C of 2026-06-15) and co-brand page still present the card as current; news reports say the RBI halted new OneCard issuance across partner banks in December 2025 and no restart has been reported. We record it as paused on the strength of the reports, because neither Federal nor OneCard says whether the pause applies to the secured card.
  • 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 secured card carries the unsecured OneCard's reward terms in the T&C; no secured-specific reward differences are stated. 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 fixed deposit earns Federal's deposit interest (the prevailing rate at each auto-renewal) while it secures the card; that interest is not part of the card's value, and the deposit is locked for as long as the card is open.
  • 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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