Federal Bank · with Fi MoneyLast checked 11 Oct 2026closed to new applicants
The MagniFi Fi-Federal Credit Card charges no annual fee and no joining fee. Its base return is 0.5% (0.5% back in Fi-Points on weekday spends). Accelerated earn: 5% back in Fi-Points on Saturday and Sunday spends. The forex markup is 3.5%. It lists no airport lounge access. Read from an aggregator, not the issuer on 11 Oct 2026.
FederalMagniFi Fi-Federal Credit CardCard design not shown
Annual fee
Free
Fee waived at
—
Base return
0.5%
Forex markup
3.5%
Interest
3.75%a month
Fees
Joining feeunverified
Free
Annual feeunverified
Free
Fee notes
Lifetime free. Reissue Rs 250 + GST.
Rewards
Reward currency
Fi-Points
Base earnunverified
0.5% back in Fi-Points on weekday spends
Base return
0.5%
Point valueunverified
4 Fi-Points = Rs 1
Accelerated earnunverified
5% back in Fi-Points on Saturday and Sunday spends
Capsunverified
2,000 Fi-Points (about Rs 500) per statement cycle on weekend earn; 2,000 Fi-Points per cycle on weekday earn.
Reward notes
base_return_pct = stated weekday rate of 0.5%. Figures from BankBazaar; programme since discontinued.
Travel and perks
Domestic lounge
None
International lounge
None
Forex markupunverified
3.5%
Charges and eligibility
Interest per monthunverified
3.75%
Late payment feeunverified
Rs 100 to Rs 2,000 depending on amount due
Cash advance fee
Cash withdrawal not offered
Fine-print notes
Federal Bank's co-branded cards page lists the Federal Fi (AmpliFi, SimpliFi, MagniFi) programme as discontinued. An aggregator dates the wind-down to 20 Mar 2026, with reward accrual and Fi-Coin redemption stopped and holders asked to clear dues and close. Fi's own credit card page returned 'page not found'. Fi now partners with AU Small Finance Bank.
Questions
What is the annual fee of the MagniFi Fi-Federal Credit Card?
No annual fee.
Does the MagniFi Fi-Federal Credit Card give airport lounge access?
No lounge access is listed for this card.
What is the forex markup on the MagniFi Fi-Federal Credit Card?
3.5% of each foreign-currency transaction, before GST.