Federal Bank RuPay Wave Credit Card
- Joining Fee
- Nil
- Renewal Fee
- Nil
- Best Suitable For
- Shopping
- Welcome Benefits
- 10% Cashback on First UPI Spend
- Forex Markup
- 3.5%
The Federal Bank RuPay Wave Credit Card is a virtual add-on card that can be obtained in addition to your existing Federal Bank credit card. This floater card provides multiple rewards and benefits, the most advantageous being its easy linking to the UPI app. On the first transaction, users can get 10% cashback, making it a rewarding experience from the start. This RuPay variant credit card allows you to make convenient payments through your mobile phone. You can earn 1 Reward Point for every ₹200 spent using this card. In addition to other benefits, this card also offers milestone benefits, such as earning a bonus of 1,000 points on spending ₹50,000 or more in a quarter. If you frequently make UPI payments and do not have a RuPay credit card, opting for this card would be a good choice.
Rewards and Benefits
- Rewards Rate
- 1 Reward Point Per ₹200 Spent
- Welcome Benefits
- 10% Cashback on First UPI Spend
- Reward Redemption
- Redeem for Vouchers and Other Options
- Movie & Dining
- N/A
- Travel
- N/A
- Golf
- N/A
- Domestic Lounge
- N/A
- International Lounge
- N/A
- Insurance Benefits
- N/A
Fees and Charges
- Joining Fee
- Nil
- Renewal Fee
- Nil
- Spend-Based Waiver
- N/A
- Rewards Redemption Fee
- ₹99
- Forex Markup
- 3.5%
- Interest Rates
- 41.88% Yearly (3.49% Per Month)
- Fuel Surcharge Waiver
- N/A
- Cash Advance Charges
- N/A
Product Details
- This floater card is available on the RuPay variant and can be easily linked to UPI apps.
- Earn 1 Reward Point on each spend of ₹200 with this card.
- The Federal Wave Card offers 1,000 bonus reward points on quarterly spends of ₹50,000.
- This card comes with a shared limit (other existing Federal Cards).
Pros and Cons
Pros
With this card you can make easy UPI payments and get rewarded for the same.
Cons
This card has a shared limit that is also used by other Federal Bank Credit Cards.
Rewards
- 10% cashback on one UPI transaction of ₹150 or more within 30 days of card issuance, capped at ₹100 (applicable to customers onboarded after September 1, 2026).
- Earn 1 Reward Point on each spend of ₹200.
Milestone Benefits
On spending ₹50,000 in a quarter, cardholders would earn 1,000 additional reward points. These bonus reward points would ensure extra savings on reaching spend milestones. Through this, you can earn 4,000 bonus points in a year.
How to Apply for the Federal Bank Wave Card?
The RuPay Wave Credit Card is only accessible through the FedMobile app in two simple steps. Existing Federal Bank Visa or MasterCard Credit Cardholders can apply for this card, which enables UPI transactions in the RuPay network, providing a unique and convenient payment experience.
Bottom Line
The Federal Bank RuPay Wave Credit Card offers convenience like no other. This card can easily be linked to popular UPI apps like Google Pay and PhonePe for easy payments. Not only can this card be used for UPI payments, but cardholders are rewarded for the same. Get 10% cashback on your first transaction with the Federal RuPay Wave Card and earn 1 Reward Point for every ₹200 spent with this card. If you have a Mastercard or Visa variant Federal Bank Credit Card, this is a must-have card. Simply apply for this card through the official Federal Bank mobile app.
Frequently Asked Questions
What will be the limit of my Federal Bank Wave Credit Card?
The Federal Bank Wave Card comes with a shared limit. This limit would be shared with existing Visa/Mastercard Federal Bank Credit Cards.
How much fee does this card charge?
This is a lifetime free credit card that can be availed at zero joining and annual charges.
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