M16S / Federal Bank / Federal One Credit Card (OneCard)
entry · rewards, cobrand, lifetime-free
Federal One Credit Card (OneCard)
The Federal One Credit Card (OneCard) charges no annual fee and no joining fee. Its base return is 0.2% (1 point per Rs 50 (fractional points credited)). Accelerated earn: 5X points on the top 2 spend categories each month. The forex markup is 1%. It lists no airport lounge access. Read from the issuer's documents and an aggregator on 11 Oct 2026.
- Annual fee
- Free
- Fee waived at
- —
- Base return
- 0.2%
- Forex markup
- 1%
- Interest
- 3.75%a month
Apply on federal.bank.inOpens the bank’s own page.
Fees
| Joining fee | Free |
|---|---|
| Annual fee | Free |
| Fee notes | No joining or annual fee. Metal add-on card Rs 3,000. Cancellation within 6 months of virtual card activation: Rs 3,000 (metal) or Rs 500 (plastic). Metal replacement Rs 3,000. |
Rewards
| Reward currency | OneCard Reward Points |
|---|---|
| Base earnunverified | 1 point per Rs 50 (fractional points credited) |
| Base return | 0.2% |
| Point valueunverified | 1 point = Rs 0.10 against purchases in the app |
| Accelerated earn | 5X points on the top 2 spend categories each month |
| Capsunverified | Aggregator: 5X applies only with spends of Rs 750+ in each of 3 or more categories in the month; education and insurance 5X stops at 25,000 points. |
| Spends that earn nothingunverified | MITC: no points on fuel. Aggregators add rent, cash advances, wallet loads, money transfers, and (from 29 Aug 2026) bills and utilities. |
| Points expiryunverified | No expiry while the card is active |
| Reward notes | base_return_pct = 2 points per Rs 100 x Rs 0.10 = 0.2%; 5X categories about 1%. No redemption fee. Earn rate and point value come from OneCard marketing and aggregators; the Federal MITC only says points depend on transaction value and category. |
Travel and perks
| Domestic lounge | None |
|---|---|
| International lounge | None |
| Forex markup | 1% |
| Fuel surcharge waiver | 1% or actual surcharge, cap Rs 400 per calendar month, domestic only |
Charges and eligibility
| Interest per month | 3.75% |
|---|---|
| Late payment fee | Outstanding Rs 0-250: nil; 251-1,000: Rs 250; 1,001-5,000: Rs 500; 5,001-25,000: Rs 1,000; 25,001+: Rs 1,250 (aggregator reports an increase scheduled for 11 Oct 2026) |
| Cash advance fee | Key Fact Statement lists cash advance fee as NA; interest from transaction date |
| Eligibility | Not published; applied for in the OneCard app. |
| Fine-print notes | Forex markup 1% + GST. Rent fee 1%. Wallet/bank transfers above Rs 10,000 a month are charged on the full amount: 1% until 29 May 2026, 2% from 30 May 2026. Overlimit 2.5% (min Rs 500). An aggregator reports that new OneCard issuance has been paused across partner banks since about Dec 2025; Federal Bank still lists the card as an active co-brand. Network is not stated by Federal Bank. |
Questions
- What is the annual fee of the Federal One Credit Card (OneCard)?
- No annual fee.
- Does the Federal One Credit Card (OneCard) give airport lounge access?
- No lounge access is listed for this card.
- What is the forex markup on the Federal One Credit Card (OneCard)?
- 1% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the Federal One Credit Card (OneCard)?
- MITC: no points on fuel. Aggregators add rent, cash advances, wallet loads, money transfers, and (from 29 Aug 2026) bills and utilities.