MyFinCards
Mastercard Signet

Joining Fee

Free

Annual Fee

Rs. 0 (Reversed on annual spends of Rs. 0.2 Lakhs)

Forex Markup

3.5% + GST

INTERNATIONAL
Federal Bank
Rewards
Lifestyle
Shopping
Best For: First-time credit card users, Online shoppers (Electronics & Apparel), Movie enthusiasts, Food delivery users

Mastercard Signet

Rewards Structure

Base Reward Rate

1% on spends

Point Value

1 Point = ₹0.25

Earning Cap

₹5,000 /monthly

Points Validity

24 Months

Pros

  • Lifetime free - no joining or annual fee
  • 3-2-1 tiered rewards structure for Electronics, Apparel and Entertainment
  • Welcome Amazon Pay voucher of Rs. 200
  • Quarterly BOGO INOX movie ticket offer
  • Complimentary Swiggy vouchers on quarterly spend milestone
  • Domestic lounge access on quarterly spend milestone

Cons

  • Lounge access requires minimum quarterly spend of INR 20,000
  • Swiggy voucher requires minimum quarterly spend of INR 20,000
  • Only 1 lounge visit per quarter

Hidden Catches (Transparency Policy)

To build trust with our users, we highlight the fine print that issuers often tuck away in policy documents.

Lounge access is for next quarter based on current quarter spend

APR is dynamic and linked with AMB in operative account (1.99% - 3.75% p.m.)

Key Benefits & Features

3x rewards on Electronics & Apparel, 2x on Entertainment, 1x on all other categories

Ongoing cashback offers across brands via Federal Bank Mastercard Shop Perks program

Eligibility Criteria

Min. Annual Income

₹3.0 Lakhs

Age Requirement

21+ Years

Occupation

SALARIED

Required Documents

IDENTITY Proof

PAN Card
Aadhaar Card

Notable Exclusions

3x rewards on spends for Electronics & Apparel categories, 2x rewards on Entertainment category and 1x rewards for other categories

*Exclusions may apply to EMI transactions, fuel, and wallet reloads based on current bank policy.

Official Terms & Conditions

About Mastercard Signet

The Federal Bank Mastercard Signet Credit Card is a lifetime free card with no joining fee and no annual membership fee, making it an accessible choice for first-time credit card users and everyday shoppers alike. Built around a personalised 3-2-1 rewards structure, cardholders earn 3x rewards on Electronics and Apparel purchases, 2x rewards on Entertainment spends, and 1x rewards on all other categories, ensuring value across a wide range of spending habits. New cardholders are welcomed with an Amazon Pay e-voucher worth Rs. 200 on minimum spends of Rs. 3,000 within the first 30 days. For those who love movies, the card offers a Buy One Get One deal on INOX movie tickets once a quarter. Food delivery enthusiasts benefit from complimentary Swiggy vouchers upon reaching a quarterly spend of Rs. 20,000, while frequent travellers can unlock one complimentary domestic lounge access per quarter by spending INR 20,000 or more in the preceding quarter. Ongoing cashback offers across multiple brands are available through the Federal Bank Mastercard Shop Perks program, adding further everyday value to the card. With an Annual Percentage Rate starting from 1.99% per month, the Mastercard Signet is designed for online shoppers, movie lovers, and food delivery users seeking a rewarding, cost-free credit card experience.

Expert Review

Our Verdict

Lifetime free Mastercard with 3-2-1 rewards, lounge access, BOGO movies & Swiggy vouchers.

Frequently Asked QuestionsAbout Mastercard Signet

FEESIs there any joining fee or annual fee for the Federal Bank Mastercard Signet Credit Card?
No, the Federal Bank Mastercard Signet Credit Card is a lifetime free credit card. There is no joining fee and no annual membership fee. You can enjoy all the card's benefits without worrying about any recurring charges. This offer is applicable as a limited period offer effective from 3rd April 2023.
FEESWhat is the interest rate (APR) on the Federal Bank Mastercard Signet Credit Card?
The Annual Percentage Rate (APR) on the Federal Bank Mastercard Signet Credit Card starts from 1.99% per month, which equals 23.88% per annum. The APR is dynamic and linked with the Average Monthly Balance (AMB) in your operative account, ranging between 1.99% and 3.75% per month. Please refer to the Most Important Terms & Conditions (MITC) for a detailed schedule of charges.
REWARDSHow does the rewards structure work on the Mastercard Signet Credit Card?
The Federal Bank Mastercard Signet Credit Card offers a tiered 3-2-1 rewards structure. You earn 3x reward points on spends in the Electronics and Apparel categories, 2x reward points on Entertainment category spends, and 1x reward points on all other categories. This structure is designed to maximize your rewards based on your spending habits across key lifestyle categories.
BENEFITSWhat is the welcome benefit offered on the Mastercard Signet Credit Card?
As a welcome benefit, new cardholders receive an Amazon Pay e-voucher worth ₹200. To be eligible for this voucher, you must spend a minimum of ₹3,000 within the first 30 days of receiving your card. This is a great way to get started with early rewards right after card activation.
BENEFITSHow can I avail the complimentary domestic lounge access benefit?
To enjoy complimentary domestic airport lounge access, you need to spend ₹20,000 or more in a calendar quarter. Upon meeting this spend milestone, you will be eligible for 1 complimentary domestic lounge visit in the subsequent quarter. Please note that only 1 lounge visit per quarter is provided, and the benefit is subject to applicable terms and conditions.
BENEFITSWhat is the BOGO (Buy One Get One) movie offer on the Mastercard Signet Credit Card?
The Federal Bank Mastercard Signet Credit Card offers a Buy One Get One (BOGO) offer on INOX movie tickets, available once per quarter. This means you can get one free movie ticket when you purchase one at INOX cinemas. The offer is subject to applicable terms and conditions. Please refer to the INOX Offer Terms & Conditions available on the Federal Bank website for full details.
BENEFITSHow do I earn complimentary Swiggy vouchers with the Signet Credit Card?
You can earn complimentary Swiggy vouchers by spending ₹20,000 or more in a quarter using your Federal Bank Mastercard Signet Credit Card. Once you meet the quarterly spend milestone, you become eligible to receive a complimentary Swiggy voucher. Terms and conditions apply, and you can refer to the Swiggy Voucher Terms & Conditions on the Federal Bank website for more details.
BENEFITSWhat additional offers and cashback are available through the Mastercard Signet Credit Card?
In addition to the tiered rewards structure, the Federal Bank Mastercard Signet Credit Card gives you access to ongoing attractive cashback and discount offers across various brands through the Federal Bank Mastercard Shop Perks program. These deals span multiple categories and are updated regularly, giving you consistent opportunities to save on everyday and lifestyle spending.
APPLICATIONHow do I apply for the Federal Bank Mastercard Signet Credit Card?
You can apply for the Federal Bank Mastercard Signet Credit Card directly through the Federal Bank website by clicking the 'Apply Now' button on the card's page. The application process is online and straightforward. Please note that the card variant and network options shown on the website are for illustrative purposes, and actual selection options will be available during the application process.
DOCUMENTSWhat documents are typically required to apply for the Federal Bank Mastercard Signet Credit Card?
While specific documents are not listed on the card page, typical requirements for a Federal Bank credit card application include: a valid identity proof (Aadhaar, PAN, Passport), address proof (utility bills, Aadhaar), recent passport-sized photographs, and income proof such as salary slips or bank statements. It is recommended to visit the Federal Bank website or contact their customer support for the exact documentation requirements before applying.
OTHERCan I opt out of receiving marketing calls or SMS about the Mastercard Signet Credit Card?
Yes, if you do not wish to receive unsolicited calls or SMS for marketing of Federal Bank credit card products, you can deregister your contact number through the Do Not Call (DNC) service. Federal Bank provides a dedicated link on their credit card page where you can register for the DNC service and stop receiving unwanted marketing communications.
INTERNATIONALIs the Federal Bank Mastercard Signet Credit Card suitable for international use?
The Federal Bank Mastercard Signet Credit Card operates on the Mastercard network, which is accepted at millions of merchants worldwide. However, the specific forex markup rate for international transactions is not explicitly mentioned on the card page. It is advisable to check with Federal Bank directly or refer to the Most Important Terms & Conditions (MITC) to understand the applicable foreign currency transaction charges before using the card abroad.
CANCELLATIONHow can I block my Federal Bank Mastercard Signet Credit Card if it is lost or stolen?
If your Federal Bank Mastercard Signet Credit Card is lost or stolen, you can block it immediately through multiple channels: using FedMobile (mobile banking app), FedNet (internet banking), by sending an SMS, by calling the Federal Bank contact centre, or by visiting the nearest Federal Bank branch. It is important to act quickly to prevent any unauthorized transactions on your card.
USAGEHow can I redeem the reward points earned on my Mastercard Signet Credit Card?
Reward points earned on the Federal Bank Mastercard Signet Credit Card can be redeemed through the Federal Bank rewards program. While specific redemption details are not listed on the card page, reward points are typically redeemable for vouchers, merchandise, travel bookings, or statement credits. For detailed redemption options and procedures, it is recommended to log in to FedNet or FedMobile, or contact Federal Bank's customer care.
USAGEWhat are the terms for the quarterly spend-based benefits on the Signet Credit Card?
Several benefits on the Federal Bank Mastercard Signet Credit Card are tied to a quarterly spend milestone of ₹20,000. Achieving this spend in a given quarter unlocks 1 complimentary domestic lounge visit in the following quarter and complimentary Swiggy vouchers. The BOGO INOX movie ticket offer is also available once per quarter. Each of these benefits has its own terms and conditions, which can be reviewed on the Federal Bank website.

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