Federal Bank Signet Credit Card

Federal Bank · Open to apply

Federal's entry rewards card for younger customers (gadgets, apparel and entertainment), free for customers onboarded since 2023-04-03 and available on Visa, Mastercard and RuPay (UPI-capable). It earns 1 Federal Reward Point per ₹200 (3 on electronics and apparel, 2 on entertainment, under its 3-2-1 structure), with 1 domestic lounge visit a quarter on ₹20,000 of quarterly spend and quarterly Swiggy vouchers. Points are worth ₹0.10 as cash and ₹0.25 through the rewards portal.

Annual fee
Lifetime free
Joining fee
None
Base rate
1 Federal Reward Point per ₹200: 1 Federal Reward Points per ₹200 (about 0.05% at cash value)
Lounges
Domestic: 1 visit a calendar quarter after ₹20,000 spend
Forex markup
3.5%
Data
From bank documents, checked 6 Nov 2026

Main earn rates

  • Electronics and apparel, 3x (3 Federal Reward Points per ₹200): 3 Federal Reward Points per ₹200 (about 0.15% at cash value)
  • Entertainment, 2x (2 Federal Reward Points per ₹200): 2 Federal Reward Points per ₹200 (about 0.1% at cash value)

Earns nothing on

  • No rewards on fuel
  • No rewards on government services and tolls
  • No rewards on e-wallet loading
  • No rewards on rent paid by card
  • No rewards on cash, financial institutions and quasi-cash

Where the sources disagree

  • reward multipliers (3-2-1): The MITC's reward table lists only 1 point per ₹200 for Signet (₹100 Celesta, ₹150 Imperio, ₹200 Signet). The current Signet pages give 3x on electronics and apparel, 2x on entertainment and 1x elsewhere, and Federal's FAQ calls this the "Accelerated Rewards point structure of 3x-2x-1x". The MITC rate is the 1x tier, so we model 3, 2 and 1 point per ₹200. The listing page's "3, 2, or 1 point per ₹100 across all card variants" (with Celesta's travel and dining categories) contradicts the MITC's per-₹200 base for Signet and is not used.
  • Visa Signet welcome voucher: The Visa Signet page's feature list says an Amazon Pay e-voucher worth ₹200 on ₹3,000 spend in the first 30 days, as do the Mastercard and RuPay pages; one cross-sell blurb on the same Visa page says ₹500. The ₹200 figure is used.
  • lounge programme end date: The airport lounge terms page (updated 2026-06-15) says the programme is available "till 31st March 2026 (extendable upon Bank's discretion)"; the MITC (2026-07-31) and the product pages still list the lounge benefits as current.

Terms the calculator does not value

  • Federal does not publish the MCC lists behind its 3-2-1 categories, how a spend in two of them is treated, or any cap on the multiplied points. We map electronics and apparel to their MCC categories (Myntra counts as apparel) and entertainment to movies and events. A merchant Federal codes differently earns 1x.
  • Whether UPI spends on RuPay Signet earn reward points is not stated. The calculator applies the base rate to them.
  • Lounge quarters run on Federal's 21st-to-20th cycle; the calculator uses calendar quarters and cannot check the settled-in-cycle rule.
  • The quarterly Swiggy vouchers have no stated value, so they add nothing to the calculated value.
  • Invitation-only bonus-point campaigns with per-customer spend targets and a "10x welcome rewards" of up to 500 bonus points on the first transaction of ₹500 or more (terms not found) are not valued.

Sources

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