The Federal Scapia co-branded Credit Card is a zero-fee card issued by Federal Bank with no joining or annual charges, 0% foreign currency markup, and up to 48 days interest-free period.
Key Features
๐ณ
No joining or annual fee
๐
0% foreign currency markup
โณ
Interest-Free Period
โฝ
1% waiver up to โน500/month
Pros
โZero joining and annual fee
โ0% forex markup on foreign transactions
โNo card cancellation fee
โ1% fuel surcharge waiver on transactions up to โน5000
Cons
โHigh revolving credit interest rate of 45% p.a.
โCash advance fee of 2.5% or โน500 (whichever is higher)
โCash withdrawal limit capped at 10% of credit limit
โNo add-on card facility currently
โConvenience fee of 1%+GST on rent, wallet load, high fuel/utility spends