Federal Bank ValueMax Credit Card Set to Launch in India

Federal Bank is set to launch its new ValueMax Credit Card, with the card expected to offer accelerated reward points on fuel, utility, and dining spends. The card may also be offered as a replacement to select Standard Chartered credit cardholders as part of their migration to Federal Bank.

As per the available schedule of charges, the ValueMax Credit Card will carry a joining fee and annual membership fee of ₹499 each.

Federal ValueMax Credit Card Expected Features

• Joining Fee: ₹499
• Annual Fee: ₹499
• Interest-Free Period: Up to 48 days
• Minimum Amount Due: 2% of the outstanding amount or ₹200, whichever is higher.

ValueMax Credit Card Reward Points

The card is expected to offer the following reward points:

• Fuel: 40 points per ₹200 spent
• Utility and Dining: 16 points per ₹200 spent
• Other Transactions: 4 points per ₹200 spent

Reward points will not be earned on cash transactions, e-wallet loading, government transactions, insurance, and rent payments. The available schedule also lists a 25% cash advance limit.

The card is expected to have a ₹99 reward redemption fee waived for the ValueMax variant.

Standard Chartered Credit Card Migration

The upcoming launch could also be significant for select Standard Chartered credit cardholders who are being migrated to Federal Bank. The ValueMax variant may be offered as a replacement to eligible customers, although the exact cards covered and migration terms are yet to be confirmed.

Federal Bank is yet to officially announce the card. The final features, fees, reward structure, and eligibility details will be confirmed at launch.