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Signet Credit Card

Federal Bank
|
Entertainment Lifestyle Lifetime Free Shopping

Annual Fee

FREE

Rewards/₹100 ⓘ

₹0.12 - ₹0.38

Normalized to balance base rate with bonus categories

Interest Rate

30.00%

Credit Score

700+

At a Glance

Key Benefits

3x rewards on electronics & apparel, 2x on entertainment, 1% fuel waiver, BOGO movies

Lounge Access

1 domestic lounge visit per quarter (on spending Rs.20K/quarter)

Eligibility

Age: 21-65 years, Annual income: Rs.3L+, CIBIL: 700+

Quick Details

Annual Fee
FREE #1
Joining Fee
FREE #1
Interest Rate
30.00% p.a. #26
Forex Markup
3.50% #75
Rewards/₹100
₹0.12 - ₹0.38 #269
Reward Type Reward Points
Reward Currency Points
Domestic Lounge Visits
1/year #120
Min Credit Score
700+ #54
Min Monthly Income ₹25
Network VISA
Card Replacement Fee 200
Late Payment Fee ₹500
Cash Advance Fee ₹0 2.50% (min ₹500)
Card Replacement Fee ₹200
Over Limit Fee ₹500

Reward Structure

Base

All Spends

₹0.13 /₹100
Cat

Electronics

₹0.38 /₹100
Cat

Apparel

₹0.38 /₹100
Cat

Custom/Partner

₹0.25 /₹100

Reward Calculator

₹
Allocate by Category100%
Electronics
1.5 pts
40%₹20,000
Apparel
1.5 pts
25%₹12,500
Custom/Partner
1.0 pts
20%₹10,000
Other Spends
0.5 pts
15%₹7,500
Your Rewards
Points Earned625
Cash Value₹156
Breakdown
Electronics300
Apparel188
Custom/Partner100
Other Spends38
Total Value₹156
Quick amounts:

Milestone Benefits

Welcome Bonus

Amazon Pay e-Voucher worth Rs.200

Spend ₹3,000 within 30 days

₹200

value

Milestone

Complimentary Swiggy voucher (value varies)

Spend ₹20,000 within 90 days

₹0

value

Milestone

1 complimentary domestic lounge access in next quarter

Spend ₹20,000 within 90 days

₹0

value

Airport Lounge Access

Domestic Free
1

visits per quarter

Spend Rs.20,000 in previous quarter

Insurance Coverage

Personal Accident

₹2,00,000

Personal accident insurance cover of Rs.2 lakhs

Lost Card

₹50,000

Lost card liability cover

Lifestyle Perks

Movies

1 /quarter

BOGO on INOX movie tickets (once per quarter)

Other

1.00% off

1% fuel surcharge waiver (Rs.400-Rs.5,000, max Rs.150/month)

Quick Analysis

Federal Bank Signet Credit Card is an excellent lifetime free entry-level card for young professionals and students. The 3x rewards on electronics & apparel and 2x on entertainment make it suitable for lifestyle spenders without annual fees.

Pros

  • Lifetime free card - zero joining and annual fees
  • 3x rewards on electronics and apparel purchases
  • 2x rewards on entertainment spending
  • 1 complimentary domestic lounge access per quarter
  • Rs.200 Amazon voucher on Rs.3K spend in 30 days
  • Complimentary Swiggy vouchers on Rs.20K quarterly spend
  • BOGO movie tickets on INOX (once per quarter)
  • 1% fuel surcharge waiver (up to Rs.150/month)
  • Personal accident insurance cover of Rs.2 lakhs
  • Low minimum income requirement

Cons

  • Very low base reward rate (0.125% on general spends)
  • Lower point value compared to premium cards
  • Reward redemption fee of Rs.99 per request
  • Higher forex markup at 3.5%
  • Limited lounge access - only 1 visit per quarter
  • Quarterly spend threshold required for lounge access
  • No international lounge access
  • Reward points valid for limited period
  • No welcome bonus on card issuance
  • Category benefits limited to specific MCCs

Best For

Lifestyle spending, electronics, apparel, entertainment, first credit card

Not Ideal For

Premium benefits, international travel, high spenders

Frequently Asked Questions

Is Federal Bank Signet Credit Card lifetime free?
Yes, the Federal Bank Signet Credit Card is a lifetime free card with no joining fee or annual fee.
What is the reward points structure?
Earn 3 reward points per Rs.200 on electronics & apparel, 2 points per Rs.200 on entertainment, and 1 point per Rs.200 on all other spends. 1 reward point = Rs.0.25 at Federal Rewards portal.
How do I get lounge access?
Spend Rs.20,000 or more in a quarter to get 1 complimentary domestic lounge visit in the next quarter.
What are the welcome benefits?
Get an Amazon Pay e-Voucher worth Rs.200 on spending Rs.3,000 within the first 30 days of card activation.
Is there a fuel surcharge waiver?
Yes, get 1% fuel surcharge waiver on all fuel transactions between Rs.400 to Rs.5,000, with a maximum waiver of Rs.150 per month.
What is the forex markup fee?
The forex markup fee is 3.5% of the transaction amount for international transactions.
What insurance coverage is provided?
The card provides Rs.2 lakhs personal accident insurance cover and lost card liability cover of Rs.50,000.
Are there any reward redemption charges?
Yes, a nominal redemption fee of Rs.99 is charged per redemption request. The actual fee is displayed at the time of redemption.
Which transactions do not earn reward points?
No reward points are awarded for cash transactions, fuel expenditures, rent payments, e-wallet loading, or government transactions. Reward points for insurance transactions are capped at 250 points per card per month.
What is the interest rate on the card?
The interest rate varies from 8.28% to 41.88% per annum depending on your average monthly balance maintained in Federal Bank Savings Account. Higher balance means lower interest rate.

User Reviews

Our Rating

3.6
APPLY NOW

on Federal Bank's website

Rating Breakdown

Rewards
3.1/5 Top 73%
Benefits
3.3/5 Top 68%
Fees
4.9/5 Top 14%
Value for Money
3.6/5 Top 32%
User Reviews
3.0/5 Top 50%

Important Links

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