MagniFi Fi-Federal Credit Card: Up to 5% Savings on Weekend Spends

Below mentioned are some of the major MagniFi Fi-Federal Credit Card features and benefits:

Discount Benefits

20% off on partner brands/platforms during weekends. The applicable terms and conditions are as follows:

• Partner Brands/Platforms: Amazon, Zomato, Zepto and BookMyShow
• Validity: Saturdays and Sundays, once every month on each platform
• Capping: Max. Rs. 100 off on each platform
• Minimum Order Value: Rs. 500

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Reward Benefits

Cardholders can earn accelerated rewards on weekend spends and a base rate on weekdays:

• On Weekend Spends: 5% back as 20 Fi-Points per Rs. 100 spent, up to 2,000 Fi-Points per month
• On Weekday Spends: 0.5% back as 2 Fi-Points per Rs. 100 spent, up to 2,000 Fi-Points per month
• Excluded Spending Categories: Fuel, utility payments, insurance, jewellery and gold, wallet reloads, rental payments, real estate, education, and services related to government, agriculture, horticulture, veterinary and business.
• Redemption Value: 4 Fi-Points = Rs. 1
• Redemption Options: Fi-Points can be redeemed against gift cards, bill payments, points to miles conversion and even flight bookings.

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MagniFi Fi-Federal Credit Card is a lifetime-free credit card designed for people who prefer to shop on weekends. Setting itself apart from other cards, this card offers higher benefits exclusively on weekend spends and at popular brands. Alongside weekend spends, cardholders can also earn basic rewards: 2 Fi-Points per Rs. 100 spent on everyday spends during weekdays.

As this is a weekend credit card, it is crucial to use it smartly. If you prefer shopping on weekdays, this card may not be the best choice for you. Conversely, if you prefer to make purchases on weekends, this card can offer exclusive savings. This credit card would be a reasonable choice if you are looking for an option to save on your weekend spends and do not want to pay any annual fee.

Consider getting this card if:

• You prefer to shop during the weekends
• You do not want to pay an annual fee
• You wish to avail discount benefits on popular online partner brands like Amazon, Zomato, Zepto and BookMyShow

Consider other options if:

• You want to earn higher benefits across all spends, including weekdays
• You are looking for an all-rounder credit card
• You are ready to pay a higher annual fee for better value-back programs

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Type of Fee or Charge	Amount
Joining Fee	Nil
Annual/ Renewal Fee	Nil
Finance Charges	3.75% per month (45% per annum)
Late Payment Charges	For Statement Balance of – Up to Rs. 100: Nil From Rs. 101 to Rs. 500: Rs. 100 From Rs. 501 to Rs. 5,000: Rs. 500 From Rs. 5,001 to Rs. 10,000: Rs. 750 From Rs. 10,001 to Rs. 25,000: Rs. 1,000 From Rs. 25,001 to Rs. 50,000: Rs. 1,500 Above Rs. 50,000: Rs. 2,000

Click here to know about detailed fees & charges and other terms & conditions.

The applicant must fulfill the below-mentioned eligibility criteria to apply for this credit card:

• Age: 21 to 65 years
• Occupation: Salaried or self-employed
• Nationality: Indian resident

Q. How can I apply for a MagniFi Fi-Federal Credit Card?

A. To apply for this credit card, download the Fi.Money app. All you need to do is download the app and apply for the card by submitting the relevant details. You can also apply offline by visiting the nearest branch of the Federal Bank and applying for the same.

Q. Can I use my MagniFi Fi-Federal Credit Card for international transactions?

A. Yes, you can use the MagniFi Fi-Federal Credit Card for international transactions. However, the bank charges a forex markup fee of 3.5% of the transacted amount.

Q. How do I get weekend benefits on my MagniFi Fi-Federal Credit Card?

A. You can earn 10X rewards on all weekend spends. Besides this, cardholders can also avail 20% discount on weekend transactions at Zomato, Zepto, BookMyShow, and Amazon.

Q. Can I withdraw cash using my MagniFi Fi-Federal Credit Card?

A. No, at present, you cannot withdraw cash using your MagniFi Fi-Federal Credit Card. However, it is advisable not to withdraw cash using your credit card, as it attracts high interest charges.

Q. Does MagniFi Fi-Federal Credit Card offer lounge access benefits?

A. No, currently there are no travel benefits like international or domestic lounge access offered on this credit card.

Also Check: Top 10 Credit Cards Offering Airport Lounge Access in India (Domestic & International)

Q. Where do I receive cashback or rewards earned on MagniFi Fi-Federal Credit Card?

A. You will receive the cashback and rewards as Fi-Points in the rewards section of the app. If you have a savings account with Federal Bank through Fi, your cashback will get transferred straight to it. However, if you don’t have a savings account, the cashback will be directly transferred to your credit card.