SimpliFi Fi Credit Card Highlights | |
Card Type | Secured credit card (backed by Federal Bank Fixed Deposit) |
Minimum FD amount | Rs 15,000 |
Reward Points | 5 Fi coins for every Rs 100 eligible offline/online spends made on weekdays (3X rewards points i.e. 15 Fi coins made on weekends) |
Joining/Annual Fee | NIL |
FD interest rate | Up to 7.5% p.a. |
Credit Limit | 90% of fixed deposits |
Lounge Access | At select domestic airports once per quarter |
Last updated as of 17th October 2024
Features of SmipliFi Fi Credit Card
- Cardholders can earn an interest of up to 7.5% p.a. on their pledged Federal Bank fixed deposits.
- Credit limit of 90% of fixed deposits is available.
- Interest free grace period of up to 48 days is allowed on credit card transactions (except cash withdrawal).
- The fixed deposit account shall be created with the bank using Fi app only.
SimpliFi Fi Credit Card Rewards
Reward Points- Cardholders are offered differentiated reward points, i.e., 5 Fi coins during weekdays and 15 Fi coins (3X rewards) during weekends for every Rs 100 eligible spent on offline and online transactions. Fi coins will be credited on eligible purchases across categories except for gold purchase, cash advances, wallet reloads or any fees and charges on the card.
SimpliFi Fi Credit Card Offers
- Domestic airport lounge access- Lounge access at select domestic airports once per quarter.
- Fuel Surcharge-Usually 1% will be applied on SimpliFi Fi-Federal Credit Card and cannot be waived.
SimpliFi Fi Credit Card Fees and Charges
Particulars |
Charges |
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Joining/Renewal Fee | NIL | ||||||||||||||||
Interest free period | Up to 48 days | ||||||||||||||||
Card re-issuance fee | Rs 250 (waived off in case the card is blocked due to suspected fraud or at bank’s discretion) | ||||||||||||||||
Cash advance fee |
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Late payment charges |
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APR on credit and cash advances |
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Overlimit charges | NIL (overlimit spend not allowed on SimpliFi Fi Federal credit card) | ||||||||||||||||
Service charges for transactions | Forex markup- 3.5% (Service charges are not applied for any other transactions) | ||||||||||||||||
Minimum due amount | 5% of purchases+100% of due EMIs, interest, charges, fees | ||||||||||||||||
Auto debit reversal | Rs 250 | ||||||||||||||||
FD premature withdrawal penalty | 1% of the FD interest rate | ||||||||||||||||
Card cancellation fee | Rs 200, if the card is cancelled within an year |