CHARGES APPLICABLE FOR FEDERAL BANK CREDIT CARD
Credit Card Type
Signet Imperio CelestaWave
Schedule of charges (Floater
Card)
Interest free period Up to 48 Up to 48 Up to 48 days Up to 48
days days days
Minimum Repayment 5% or 5% or 5% or 5% or
Amount Minimum of Minimum of Minimum of Minimum of
Rs. 100/- Rs. 100/- Rs. 100/- Rs. 100/-
Cash Advance Limit 10% 20% 25% NIL
Joining Fee Rs. 750/- Rs. 1500/- Rs. 3000/- NIL
Above condition is not
applicable for customers
onboarded with effect
from 03rd April 2023.
Annual Membership fee Rs. 750/- Rs. 1500/- Rs. 3000/- NIL
Above condition is not
applicable for customers
onboarded with effect
from 03rd April 2023.
Spend more Spend more Spend more NIL
than Rs. than Rs. than Rs.
Spend condition for 10,000/- 20,000/- 30,000/-
waiver of Joining fee within first 3 within first 3 within first 3
Months and Months and Months and
Above condition is not get the get the get the joining
applicable for customers joining fee of joining fee of fee of Rs.
onboarded with effect Rs. 750/- Rs. 1500/- 3000/- waived
from 03rd April 2023 as waived off waived off off for the first
no joining fee is charged. for the first for the first year.
year. year.
Spend condition for Spend Spend Rs. Spend Rs. NIL
waiver of annual Rs.75,000/- 1,50,000/- in 3,00,000/- in
membership fee. (Cash in current current year current year
Withdrawal transactions year and get and get a and get a
are excluded). a waiver on waiver on waiver on
next year’s next year’s next year’s
Above condition is not annual annual annual
applicable for customers membership membership membership
onboarded with effect fee. fee. fee.
from 03rd April 2023,
since no AMC is
charged
Additional Card Fee Maximum 4 Maximum 4 Maximum 4 NIL
Cards Cards Cards
(Rs.100/- (Rs.100/- (Rs.100/- per
per card) per card) card)
Cash Advance Charges 2.5% of 2.5% of 2.5% of NIL
amount amount amount
withdrawn or withdrawn withdrawn or
Rs. 500 or Rs. 500 Rs. 500
whichever is whichever is whichever is
higher higher higher
Foreign Currency 3.5% 3.5% 2% 3.5%
Transactions
Fee for Cash Payment Rs. 100/- Rs. 100/- Rs. 100/- Rs. 100/-
Dynamic conversion fee 3.5% 3.5% 2% 3.5%
Terms & Conditions
(1) DCC shall be applicable only if the international
transaction occurs when the country of the merchant outlet
location, ATM or branch is outside India, regardless of the
cardholder’s location when the transaction occurs.
(2) The cardholder will have the option to accept or decline
DCC, prior to the merchant/ ATM / branch processing the
transaction and the cardholder shall make an active choice
on the DCC option.
(3) The cardholder shall provide consent for the DCC
transaction after confirming acceptance of the disclosure
information including and not limited to (i) the amount of
goods or services (including taxes) shown in merchant’s
local currency with currency code (ii)exchange rate/ mark -
up (iii) Total transaction amount in DCC currency (iv)
currency symbol code of the offered DCC transaction
amount disclosed to the cardholder.
(4) Upon completion of DCC transaction, the cardholder
will be issued by the merchant/ ATM/ branch, as the case
may be, with a transaction receipt containing the details of
transaction currency, transaction amount, transaction
charged etc.
Interest on Revolving
Credit (APR- ANNUAL
PERCENTAGE RATE) Average Monthly Balance Annual Percentage Rate
for last Quarter (APR %)
less than Rs. 50,000 45.00% (3.75% per month)
Rs. 50,000 - 3,00,000 32.28% (2.69% per month)
Rs. 3,00,001- 10,00,000 20.28% (1.69% per month)
More than Rs. 10,00,000 8.28% (0.69% per month)
AMB- Average Monthly Balance in Operative account
maintained with Federal Bank i.e. Average of all the
closing-day balances in a given month. To calculate AMB,
you need to add each day's end-of-the-day balance and
divide it by the number of days in that month. AMB for a
quarter will be average of AMB maintained in the 3 months
of that quarter. APR will be updated on 10th of beginning
of every calendar quarter.
Quarters are defined as follows: January, February and
March as Quarter 1; April, May and June as Quarter 2;
July, August, and September as Quarter 3 and October,
November and December as Quarter 4. APR for Quarter 2
will be considered on the basis of average monthly balance
for Quarter 1. For eg. The APR (Annualized Percentage
Rate) of the quarter 1st Apr-30th Jun will be updated on
10th July.
Illustration:
On January 1, the balance in the Operative account is Rs
50,000.
On January 12, withdrawal of Rs 4,000 takes place. EOD
balance is Rs.46,000.
On January 18, deposit of Rs 20,000 takes place. EOD
balance is Rs 66,000.
Summing up the EOD balances: For 11 days-from January
1 to January 12-sum of EOD balance will be Rs (50000*11)
= Rs 5,50,000
From January 12 to January 18, sum of EOD balances will
be Rs (46,000*6) = Rs 2,76,000
From January 18 to January 31, sum of EOD balances will
be Rs (66,000*13) = Rs 8,58,000.
Sum of all the EOD closing balances = Rs 16,84,000
Total number of days in January = 31
So, the average monthly balance will be 1684000/31 i.e.
Rs 54,322.58
Similarly, for February and March, Average monthly
balance is Rs. 70,000 and Rs. 95,000/- respectively then
AMB for the Quarter will be (54,322.58 + 70,000 +
95,000)/3 i.e. 2,19,322.58/3 = Rs. 73,107.52 which is
between Rs. 50,000- 3,00,000.
Therefore, APR offered to the customer will be
32.28% i.e. 2.69% per month for the next quarter.
Customers who are not maintaining an operative account
with Federal Bank will be charged APR at 45% i.e.3.75 %
per month.
Late Payment Charges
Total Amount Due (Rs.) Fee (Rs.)
Rs. 0 - 250 Rs. 0
Rs. 251 - 1000 Rs. 250
Rs. 1001 - 5000 Rs. 500
Rs. 5001 - 25000 Rs. 1,000
Rs. 25001 & above Rs. 1,250
*Changes will be applicable w.e.f 20th August 2024
Cheque returns or
Dishonour or Auto-debit 2% of Payment amount subject to minimum of Rs. 450/-
Reversal
Rewards Redemption
Rs. 99/- per redemption request
Fee
Rent Payments With effect from 1st April 2023, a fee of 1% of the total
transaction amount will be levied on rental transactions,
along with the applicable taxes.
Loan Processing Pre- Mode of Credit Card EMI facility:
Closure Charges At the time of transaction through merchant outlet
(POS machine), online transactions and Post
transaction via Fed Mobile/ Fed Net and contact
centre:
1% or Rs. 99, whichever is higher, on the transaction
amount plus GST at applicable rates would be chargeable.
A foreclosure charge of 3% + GST of the remaining
principal amount plus GST at applicable rates will be
charged if the Credit Card EMI is closed before the
completion of the EMI-tenure. Only
However, EMI facility through POS is not applicable for any
card in virtual format.
Points to note for pre-closure:
1. The Card Member may cancel the EMI facility within 7
days from the date of EMI booking by calling the contact
centre. In case of cancellation, the original transaction
amount which was converted into EMI shall be debited
back to the customer account and all charges relating to
such EMI conversion shall be reversed, but only if the
Card Member has called up within 7 days from the date of
EMI booking.
2 If the card member calls the contact centre after 7 days
of EMI booking date, in such cases the EMI can be
cancelled however the associated charges would not be
reversed.
3. If the booked EMI is statemented, then in such cases
PF / Foreclosure / any other applicable charges can
be reversed if the same is within 7days of EMI.
4. Foreclosure with reversal of all charges (within 7
days) of only 1 EMI transaction per quarter is permitted
per card member.
Reissue of Lost, Stolen
Rs. 200/-
or Damaged Card
Outstation Cheque Cheque value up to Rs 5,000 – Fee will be Rs 25/-
Processing Charge Cheque value above Rs 5,000 - Fee will be Rs 50/-
TDS on withdrawals W.e.f 01-July-2020, TDS@2% is applicable on aggregate
above Rs 1 crore cash withdrawals exceeding Rs. 1 Cr from accounts and
cards, in a FY. For those who have not filed their Income
Tax Return in any of the previous three years the TDS will
be @2% when the aggregate cash withdrawal exceeds
Rs.20 Lakhs and the rate will be 5% for aggregate
withdrawal exceeding Rs.1 crore. TDS is not applicable for
Wave Credit Card.
Goods and Services Tax Goods & Service Tax (GST) will be applicable on all fees,
(GST) interest and other charges at rates as notified by the
Government of India from time to time.
The applicable GST would be dependent on the location of
the supplier (Credit Card Issuer I.e. Federal Bank) and
place of supply. If place of supply (customer
communication address) is in Kerala, then it would be
CGST and SGST (Intra state), else IGST (Interstate). In
case of non-availability of customer registered mailing
address in the system, intra state GST rates would be
levied.
Card Holder would be responsible for providing correct and
timely information for enabling Credit Card Issuer to
undertake appropriate GST compliances which would in
turn enable card holder to take input tax credit of supplies
(credit card service) made by the Credit Card Issuer. Credit
Card issuer shall not be responsible for any loss of input
tax credit or delay in availment of input tax credit to the
Card Holder on account of incorrect information provided
by card holder or due to any act or omission by Card
Holder.
GST collected will not be reversed on any dispute on
fee & 3/interest or on any other concession/waiver.
Wallet loading charges A fee of 1% of the transaction amount will be levied on
wallet load transactions, along with the applicable taxes.
