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Federal Bank · RuPay

Federal Bank Wave RuPay Credit Card (Floater / Supplemental Card)

1 Federal Reward Point per ₹200 on eligible spends; 10% cashback up to ₹200 on the first 5 UPI transactions

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SegmentEntry
Joining feeNil for a virtual card; ₹199 + GST if a physical card is selected
Annual fee₹199 + GST
Reward typeReward Points

Reward categories

Eligible retail and UPI merchant spends1 Federal Reward Point per ₹200
First 5 UPI transactions within 30 days of issuance10% cashback

Cap: ₹200 total cashback

Reversed transactions are not eligible.

Welcome & milestones

Welcome

  • 10% cashback up to ₹200 across the first 5 UPI transactionsComplete the transactions within 30 days of card issuance
  • 1,000 Reward PointsSpend ₹50,000 in the first quarter after card issuance

Milestones

  • ₹50,000 in the first quarter after issuance1,000 Reward Points

Lounge rules

No domestic airport lounge rule is listed.

Wave has no lounge allocation in the issuer's variant table. Lounge access is limited to eligible primary holders of Signet, Imperio and Celesta; Wave is a supplemental shared-limit card.

Eligibility

Age

    Income

      Employment

        Documents

        • Must already hold a Federal Bank Visa or Mastercard primary credit card
        • The primary credit-card account must be in regular status
        • Federal Bank RuPay primary-card holders are not eligible
        • Issuance remains subject to Federal Bank's internal policy

        Other benefits

        • Virtual or physical RuPay companion card for UPI and other eligible transactions
        • Shares the primary Federal Bank credit card's credit limit
        • Separate statement and separate Reward Point balance from the primary card
        • Only one Wave card may be issued against the primary card
        • Wave is automatically invalidated if the linked primary card is invalidated

        Exclusions

        Cash transactions do not earn Reward PointsFuel MCC 5172, 5541, 5542 and 7983 does not earn Reward PointsGovernment-service MCC 4011, 4784, 9211, 9222, 9311, 9399, 9402 and 9405 does not earn Reward PointsE-wallet loads do not earn Reward PointsRent payments do not earn Reward PointsFinancial-institution MCC 6012 and quasi-cash MCC 6050 and 6051 do not earn Reward Points

        Recent changes

        No effective-dated changes are currently recorded.

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