Federal Bank • A lifetime free starter card with category rewards and a quarterly lounge visit.
By Deepak • Co-founder, Credwiser
Figures checked against the issuer's official MITC • Last verified 21 October 2026 • How we score
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Signet is Federal Bank's entry level credit card and it is lifetime free for customers onboarded since April 2023, with no joining or annual fee in the bank's Key Fact Statement. It runs on the bank's 3-2-1 rewards programme: 3 points per Rs. 200 on electronics and apparel, 2 per Rs. 200 on entertainment and 1 per Rs. 200 on everything else. With each Federal Reward Point worth Rs. 0.25 on the rewards portal (and Rs. 0.10 against the statement), returns are modest at about 0.38 percent in the best categories and 0.125 percent at the base rate, so this card is about free perks rather than big rewards. Those perks include an Amazon Pay e-voucher of Rs. 500 on Rs. 3,000 of spends in the first 30 days, complimentary Swiggy vouchers on quarterly spends of Rs. 20,000 or more, a buy one get one offer on INOX movie tickets once a quarter, and 1 domestic airport lounge visit per quarter once you spend Rs. 20,000 in a quarter. The card is issued on Visa, Mastercard and RuPay; pick the RuPay variant if you want to link it to UPI. Interest is charged on a dynamic APR linked to your Federal Bank savings account balance, starting at 1.99 percent per month. There are no reward points on fuel, cash, wallet loads, government transactions and rent.
Joining and annual fee Nil for Signet, Imperio and Celesta for customers onboarded with effect from 3 April 2023, as per the Federal Bank Key Fact Statement; the older schedule of Rs. 750 with spend based waivers applies only to earlier customers. Add-on card fee Rs. 100 plus GST per card. Forex markup 3.5 percent as per the Key Fact Statement. Reward structure as per the bank's MITC rewards table: Signet earns a base of 1 point per Rs. 200 with 3-2-1 category multipliers, 1 point is worth Rs. 0.25 (Rs. 0.10 against statement credit), points are valid for 3 years, and no points are earned on cash, fuel, wallet loading, government and rent transactions; insurance points are capped at 250 per month. Lounge terms as per the bank's published lounge conditions effective 15 July 2025: Signet needs Rs. 20,000 of quarterly spends for 1 domestic visit per quarter. Rewards redemption fee Rs. 99 per request. Interest is a dynamic APR from 1.99 percent to 3.75 percent per month based on the savings account average balance.
Last verified against MITC: 21 October 2026 • View official MITC →
Yes, for new customers. Federal Bank's Key Fact Statement lists the joining and annual fee for Signet as Nil for customers onboarded with effect from 3 April 2023. Only the add-on card fee of Rs. 100 plus GST applies.
Spend Rs. 20,000 or more in a calendar quarter and you get 1 complimentary domestic airport lounge visit in the following quarter. There is no international lounge access on Signet.
Yes, if you choose the RuPay variant. Signet is issued on Visa, Mastercard and RuPay, and the RuPay variant can be linked to any UPI app for scan and pay payments.
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