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Federal Signet Credit Card Review

Shopping card with lounge access

The Federal Signet is lifetime free (no joining or annual fee). It earns 0.12% back on regular spends and up to 0.38% on Shopping, with 4 domestic airport lounge visits a year. Best for: entry users wanting free quarterly perks — our verdict: consider.

Vyaya Team · Jun 2026
5 min read
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Value Score
8.0 / 10
Annual Fee
₹0
Best For
Entry-level shopper, Light spender
Network
Visa
Expert Verdict

A free entry card whose value is in its quarterly lounge visits, Swiggy vouchers and INOX BOGO rather than rewards, since the base earn is a negligible ~0.125%. Worth holding only if you reliably hit the Rs.20,000 quarterly spend to unlock the perks.

FEDERAL BANKVisa
Federal Signet
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REWARD SUMMARY
0.12% Base Rewards
Shopping card with lounge access
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The Bottom Line

The Federal Signet is built for entry-level shopper and light spender. With no annual fee, it offers 0.38% rewards on shopping and a welcome benefit worth ₹200. It makes the most sense if your spending matches entry-level shopper and light spender.

It earns a base reward rate of 0.12% and stacks best when your spending lines up with Entry-level shopper, Light spender.

What we like
+Lifetime free with zero joining and zero annual fee.
+Accelerated 3x earn of 3 Reward Points per Rs.200 on shopping and 2x on entertainment, both uncapped, at 0.25/point.
+Up to 4 complimentary domestic lounge visits a year (1 per quarter on Rs.20,000 prior-quarter spend).
+Quarterly Swiggy vouchers on Rs.20,000 spend and an INOX movie buy-one-get-one offer once per quarter.
What we don't
–Weak base earn of just 1 Reward Point per Rs.200 at 0.25/point, about 0.125%, and even 3x shopping is only ~0.4%.
–High 3.5% foreign currency markup.
–Lounge access and Swiggy vouchers are conditional on Rs.20,000 quarterly spend.
–No rewards on fuel (no surcharge waiver stated), government, rent or wallet loads; insurance points capped at 250/month.

Who Should Get This Card

Use this as a quick filter before comparing rewards or fees in detail.

Best fit for

Ideal
+
Entry-level shopper

First-time users wanting a free card with quarterly lounge visits, Swiggy vouchers and INOX movie offers tied to modest Rs.20,000 quarterly spend.

+
Light spender

Those who value the no-fee perks and occasional lounge access over reward earning.

Probably not for

Skip
–
Rewards maximiser

The ~0.125% base and ~0.4% shopping rate are too low for serious point collectors.

–
International traveller

A 3.5% forex markup and no international lounge access make it weak for overseas use.

Is It Worth It For You?

Slide to your typical monthly card spend. We'll do the rest.

Calculate Your Value

Adjust your typical monthly spend by category.

Dining
0₹5,000Max ₹50k
Est. Returns
Travel
0₹10,000Max ₹1L
Est. Returns
Online & Shopping
0₹8,000Max ₹80k
Est. Returns
Groceries
0₹6,000Max ₹40k
Est. Returns
Annual rewards₹0
Welcome bonus (Year 1)+₹200
Annual feeFREE
Net Value (Year 1)+₹200
Net Value (Year 2+)+₹0

Sign in for personalized estimates based on your actual spending

Reward Rates

Federal Signet offers 0.12% basic reward rate.

Quick Calculator

Estimate earnings for a specific purchase

₹
Shopping
0.38%
Entertainment
0.25%

Welcome Offer

Welcome Benefit

Amazon Pay e-Voucher worth Rs. 200 on a minimum spend of Rs. 3,000 within the first 30 days of card issuance.

Value: ₹200

Fees & Charges

Joining fee₹0
Annual fee₹0
Fee waiverN/A

Eligibility

  • Min Income: ₹5 Lakhs
  • Min Credit Score: 700
  • Lifetime free card (₹750 fee waived on ₹75,000 annual spend); available on Visa, Mastercard, RuPay; min ₹30,000/month salaried.

Exclusions & Terms

Forex markup

  • Foreign currency markup

Cash Advances

  • Does not earn reward points.

Frequently Asked Questions

7 data-backed answers from our card database

What is the annual fee of the Federal Signet credit card?+

None — the Federal Signet is lifetime free (no joining or annual fee).

What rewards does the Federal Signet credit card give?+

It earns 1 Reward Points per ₹200 spent (about 0.12% back), and up to 0.38% on Shopping.

Does the Federal Signet credit card offer airport lounge access?+

Yes — 4 domestic airport lounge visits a year. Check the card's terms for any spend condition before your trip.

What is the eligibility for the Federal Signet credit card?+

Minimum annual income of about ₹5 lakh and a credit score of 700+. Lifetime free card (₹750 fee waived on ₹75,000 annual spend); available on Visa, Mastercard, RuPay; min ₹30,000/month salaried.

What is the forex markup on the Federal Signet?+

3.5% + GST on international transactions.

What is the welcome benefit on the Federal Signet?+

Amazon Pay e-Voucher worth Rs. 200 on a minimum spend of Rs. 3,000 within the first 30 days of card issuance.

Is the Federal Signet credit card worth it?+

The Federal Signet is lifetime free (no joining or annual fee). It earns 0.12% back on regular spends and up to 0.38% on Shopping, with 4 domestic airport lounge visits a year. Best for: entry users wanting free quarterly perks — our verdict: consider.

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