Federal Bank
Federal Bank RuPay Wave Credit Card
Annual Fee
Lifetime FreeBase Reward
0.5% points
Foreign Markup
3.5%
Welcome Benefits
10% Cashback on First Five UPI Spends
Product Highlights
- Easy linking to UPI apps
- Lifetime free credit card
Category Rewards
Specialty
1 Reward Point Per ₹200 Spent
1 pts/₹200
Reward Calculator
Earns ₹375/year (net)
Modest gain. Solid hold if you like the perks.
₹25K
across all your buckets
1.5K
Federal Bank Reward Points
₹375
via statement credit · ₹0.25/pt
Effective rate
0.13%
Annual fee
FREE
Year 1 net
+₹375
Year 2+ net
+₹375
ongoing
Adjust your spend by reward bucket
1 bucketsMilestone Rewards
Bonus rewards unlocked at spend thresholds. Use the slider to see what your spend pattern unlocks.
per quarter · You spend ≈ ₹1.5L
1,000 bonus reward points
Surcharges & Exclusions
Watch-outs that quietly erode your effective rewards. Categories listed as “excluded” earn 0% even if the merchant looks normal.
Wallet load surcharge
1%Charged on every wallet load
Utility payment surcharge
1%Charged on every utility bill payment
Surcharges are typically charged 1 cycle after the transaction and may include GST. Always confirm with the bank's most recent T&C.
Rewards Details
Earn 1 Reward Point for every ₹200 spent using this card. Get 10% cashback on the first five UPI transactions made with the Federal RuPay Wave Card.
- Redeem for Vouchers and Other Options
Benefits & Features
1,000 bonus reward points on spending ₹50,000 or more in a quarter.
Pros & Cons
Pros
- Easy UPI payments
- 10% cashback on first five UPI transactions
Cons
- Shared limit with other Federal Bank Credit Cards
Ready to apply?
Apply directly on the bank's official website. Quick approval, no hidden steps.
Apply NowOfficial bank website · Secure
Fees & Charges
Eligibility
Networks