Federal Bank joined hands with the National Payments Corporation of India (NPCI) to launch the 'Federal Bank RuPay Signet Contactless Credit Card'. One of the major highlights of this card is, it comes with the lowest Annual Percentage Rate (APR) starting from just 5.88% per annum.
The Federal Bank RuPay Signet credit cardholders will gain access to a wide variety of offers and deals across categories including travel, food and dining, shopping, sports, entertainment, lifestyle and much more. With a range of exciting offers, the card is presently offered to existing customers of the Bank. The offers include Amazon Gift vouchers as welcome benefits, attractive reward points, Buy One Get One (BOGO) free offer at INOX, complimentary membership programs, complimentary Swiggy vouchers, complimentary lounge access at Domestic and International airports and much more.
Adopting a 'Digital First' card approach, the card is immediately made available for use in FedMobile, the Bank's Mobile Banking application, through a 3 click process. The physical card will be delivered to the customer in due course. Specially designed for millennial customers, this card offers an interesting 3-2-1 rewards structure personalised for them. They would get 3x rewards on spends for Electronics & Apparel categories, 2x rewards on Entertainment category and 1x rewards for other categories, using the Federal Bank RuPay Signet credit card.
Commenting on the launch, Ms. Praveena Rai, COO, NPCI said, "We are excited to launch with our partner bank - the Federal Bank RuPay Signet Contactless Credit Card. This card has a significant potential to attract new-age customers as it has a complete package of benefits suiting their lifestyle backed up with an innovative cashback scheme. At NPCI, for RuPay, we continue to work towards offering a delightful and contactless shopping experience to all our customers. We also believe our association with Federal Bank will provide a wider penetration of RuPay contactless cards in the country."
Virtually launching the card, Shalini Warrier, Executive Director & Business Head- Retail, Federal Bank said, "Federal Bank has, yet again, ensured that the mantra of "Digital at the fore, Human at the core" comes to life via this latest offering, the RuPay credit card. This card is also a symbol of our strong partnership with NPCI, an entity known for innovation in the retail payments space."
Shares of Federal Bank Ltd. was last trading in BSE at Rs. 81.6 as compared to the previous close of Rs. 80.85. The total number of shares traded during the day was 616293 in over 2964 trades.
The stock hit an intraday high of Rs. 82 and intraday low of 81.15. The net turnover during the day was Rs. 50282875.