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

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MagniFi Fi-Federal Credit Card is a lifetime-free credit card offered by Fi.Money in collaboration with Federal Bank. The card is designed for consumers whose majority of the spends are made during the weekends and those who frequently shop online on partner platforms like Amazon, Zomato, Zepto and BookMyShow. Read on to know more about this credit card and find out whether it would be the right fit for you.

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Updated: 03-09-2025 06:39:36 AM

Key Highlights of MagniFi Fi-Federal Credit Card
Card Type Entry-level
Best Suited for Weekend Spends
Joining Fee Nil
Renewal Fee Nil
Reward Benefits 10X rewards on weekend spends
Key Feature 20% off on top brands, including Zomato, Amazon, BookMyShow and Zepto
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MagniFi justifies its claim of being the ‘ultimate weekend credit card’ by offering enhanced benefits on weekend shopping. In its accelerated category with 20% discount, the card covers everyday brands like Zomato, Zepto, BookMyShow and Amazon, covering four major categories- dining, grocery, entertainment and shopping. The card attempts to cover more ground by providing 5% value-back across all weekend spends. However, savings on weekday spends are quite limited at just 0.5% value-back as Fi-Points and the savings across categories come with capping conditions which can limit the possible value-back you could earn on your spends.

MagniFi Fi-Federal Credit Card: Features & Benefits
Who should get MagniFi Fi-Federal Credit Card?
MagniFi Fi-Federal Credit Card: Fees & Charges
MagniFi Fi-Federal Credit Card: Eligibility & Documentation
FAQs
MagniFi Fi-Federal Credit Card: Features & Benefits

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

Suggested read: Best Credit Cards for Cashback in India | Check Eligibility for Top Cards

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.

Suggested read: Best Rewards Credit Cards in India | Check Eligibility for Top Cards

Who should get MagniFi Fi-Federal Credit Card?

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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MagniFi Fi-Federal Credit Card: Fees & Charges
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.

MagniFi Fi-Federal Credit Card: Eligibility & Documentation

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

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FAQs

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.

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