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Features of the Federal Bank SimplySAVE Visa Credit Card

  • Overview of the Card’s Design and Purpose: The Federal Bank SimplySAVE Visa Credit Card is crafted to simplify daily transactions while maximizing savings on routine purchases. Unlike premium cards with high annual fees, this card targets users who prioritize affordability and value. It is part of Federal Bank’s portfolio, a leading private sector bank in India known for its innovative financial products. The card’s features are curated to align with the needs of modern consumers who frequently shop for groceries, dine out, or engage in online transactions.
  • Contactless Payment Technology: One standout feature is the card’s contactless payment capability, powered by Visa payWave technology. This allows users to make quick, secure payments by simply tapping the card at compatible point-of-sale (POS) terminals. The contactless feature is particularly useful for small-ticket purchases, reducing the need for cash or PIN entry, which enhances transaction speed and convenience. The card employs advanced encryption to ensure security, minimizing risks of skimming or unauthorized transactions.
Bank of Baroda Premier Credit Card
    • Global Acceptance: The Federal Bank SimplySAVE Visa Credit Card is accepted at over 24 million Visa outlets worldwide, including more than 325,000 merchants in India. This global acceptance makes it a versatile tool for both domestic and international transactions, whether you’re shopping at a local grocery store, dining at a restaurant abroad, or making online purchases. The card’s compatibility with Visa’s extensive network ensures seamless usability across various platforms.
    • EMV Chip Security: The card is equipped with an EMV chip, providing enhanced security compared to traditional magnetic stripe cards. The chip generates a unique transaction code for each purchase, reducing the risk of fraud. This feature is particularly valuable for online transactions and international travel, where security concerns are paramount.
    • Reward Points Structure – 3-2-1 Rewards Program: The Federal Bank SimplySAVE Visa Credit Card offers a robust rewards program tailored for everyday spending. While specific reward rates may vary, it typically follows a 3-2-1 structure:
    • 3x rewards on groceries, dining, or departmental store purchases.
    • 2x rewards on entertainment like movies, concerts, and streaming platforms.
    • 1x reward on all other spends, ensuring consistent benefit across categories.
      • Reward points are valued at ₹0.25 each and are redeemable for gift vouchers, merchandise, or statement credit. Points can be accumulated without expiration.
    • Reward Redemption Options: Points can be redeemed through the Federal Bank Rewards Portal for:
    • Gift vouchers (e.g., Amazon Pay, Swiggy)
    • Merchandise (electronics, home appliances, etc.)
    • Statement credit to offset your bill
    • Flight or hotel bookings (subject to eligibility)
    • Fee Structure and Cost Efficiency: The card is often offered as a lifetime free credit card, with zero joining or annual fees. This makes it a practical choice for users seeking long-term value without the burden of maintenance costs.
    • Low Annual Percentage Rate (APR): The card features a dynamic APR ranging from 5.88% to 45% per annum, depending on your relationship with Federal Bank. A lower APR is generally available to users with strong banking history.
    • Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 at any fuel station in India. This waiver is capped at ₹100 per billing cycle, helping reduce recurring transport expenses.
    • Cash Withdrawal Facility: The card enables cash withdrawal from over 1 million Visa ATMs worldwide. Note that cash advances attract a fee of 2.5% (minimum ₹500) and accrue interest from the date of withdrawal.
    • Easy Bill Pay Facility: Use the Easy Bill Pay feature to automate recurring utility bill payments such as electricity, phone bills, and mobile recharges — ensuring timely payments and convenience.
    • Flexipay for EMI Conversion: Convert purchases above ₹2,500 into easy EMIs with flexible tenures (6, 9, 12, or 24 months). This feature is ideal for managing large expenses like electronics or travel.
    • Balance Transfer Facility: Consolidate and manage your credit card debt by transferring outstanding balances from other cards to your SimplySAVE Visa Credit Card at a lower interest rate, repayable in EMIs.
    • Digital Integration and Management: Integrated with the FedMobile App and FedNet Internet Banking, the card allows users to:
    • Track transactions and limits
    • Redeem reward points
    • Pay bills and set up auto-debit
    • Generate PIN and activate virtual card
    • Accessibility for Diverse Users: The Federal Bank SimplySAVE Visa Credit Card is designed to be inclusive, catering to both salaried and self-employed individuals. It also supports add-on cards for family members (spouse, parents, or children above 18), allowing them to share the card’s benefits, such as reward points and fuel surcharge waivers.
    • Limitations to Consider:
    • No complimentary airport lounge access like some premium cards (e.g., Celesta).
    • Lower reward rate on non-category (1x) spends.
    • Credit limits vary based on applicant profile and income; new users may receive lower limits.
Premier Card Benefits

Benefits of the Federal Bank SimplySAVE Visa Credit Card

  • Welcome Bonus: New cardholders may receive a welcome bonus, such as an Amazon Pay e-voucher worth ₹200–₹500 upon spending a minimum amount (e.g., ₹3,000) within the first 30 days of card issuance. This immediate reward incentivizes early usage and provides instant value.
  • Accelerated Reward Points: The card’s 3-2-1 rewards structure offers significant savings on everyday categories:
    • 3x Points on Groceries and Dining: Earn three times the points on grocery shopping and restaurant bills, ideal for families and food enthusiasts.
    • 2x Points on Entertainment: Movie tickets, streaming subscriptions, or amusement park visits earn double points, enhancing leisure spending.
    • 1x Points on Other Spends: Even non-category purchases contribute to your rewards, ensuring consistent savings.
    • Welcome and Onboarding Benefits:
    • Fuel Surcharge Waiver: The 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 (capped at ₹100 per cycle) reduces fuel costs, benefiting daily commuters and road travelers.
    • Financial Flexibility and Convenience:
    • Low or No Annual Fees: As a lifetime free credit card, the SimplySAVE Card eliminates joining and annual fees, ideal for budget-conscious and first-time users.
    • Dynamic APR Advantage: With a starting APR of 5.88% p.a., cardholders with a strong Federal Bank relationship benefit from lower interest costs.
    • Flexipay EMI Option: Purchases over ₹2,500 can be converted to EMIs with tenures between 6 to 24 months, helping manage large expenses smoothly.
    • Balance Transfer Savings: Transfer high-interest balances from other cards to reduce interest burden and consolidate debt via EMI options.
    • Lifestyle and Travel Perks:
    • Visa Network Offers: Enjoy discounts on travel, dining, and shopping through exclusive Visa deals.
    • Global Usability: Accepted at 24 million Visa outlets worldwide for seamless international usage.
    • Contactless Payment Convenience: Tap-and-go functionality ensures faster, secure transactions.
    • Security and Peace of Mind:
    • EMV Chip Protection: Secures transactions using unique dynamic codes, enhancing safety for online and POS purchases.
    • Zero Liability on Fraud: Unauthorized charges are waived if reported promptly, offering peace of mind.
    • Family-Friendly Benefits:
    • Add-On Cards: Up to 3 add-on cards for family members (above 18 years) to share benefits and manage expenses together.
    • Easy Bill Pay: Automate utility bill payments such as electricity and mobile bills to avoid late fees.
    • Reward Redemption Flexibility:
    • Multiple Redemption Options: Points can be redeemed for e-vouchers (Amazon, Swiggy), statement credit, merchandise, or travel bookings.
    • High Redemption Value: Redeem points for statement credit at ₹0.25 per point, with occasional bonus promotions.
    • Benefits for First-Time Cardholders:
    • Relaxed Eligibility: Easier access with lower income and credit score requirements.
    • No Annual Fees: Lifetime free structure is attractive to new credit users.
    • Simple Rewards Structure: Earn rewards on daily spends like dining and groceries without complex conditions.
    • Educational Resources: Learn responsible credit use with tools from Federal Bank’s website and mobile app.
    • Comparison with Other Cards:
    • Lower Fees: Lifetime free compared to SBI SimplySAVE’s ₹499 annual fee (waived on ₹1 lakh spends).
    • Better APR: Dynamic 5.88% p.a. APR versus SBI’s standard 42% p.a.
    • Similar Rewards: Both cards reward dining and groceries, but Federal’s Visa perks add extra lifestyle value.
    • Limitations to Note:
    • No Lounge Access: Unlike premium Federal cards, SimplySAVE lacks airport lounge access.
    • Category-Specific Rewards: Best rewards are earned on specific categories; general spends earn fewer points.
    • Credit Limit Constraints: New cardholders may receive lower initial limits, but limits can increase with usage.
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How to Apply for the Federal Bank SimplySAVE Visa Credit Card

  • Online Application via Federal Bank Website:
    • Visit Federal Bank’s official website and go to the ‘Credit Cards’ section.
    • Select the SimplySAVE Visa Credit Card and click ‘Apply Now’ to begin the application.
    • Enter your personal, employment, and income details accurately.
    • Upload scanned copies of the required documents (PDF/JPEG, max 2MB each).
    • Complete the video KYC (vKYC) if you are a new customer.
    • Submit the application and note the reference number for status tracking.
  • Application via FedMobile App:
    • Log in using your FedMobile credentials.
    • Navigate to the ‘Cards’ section and select the SimplySAVE Visa Credit Card.
    • Fill in the required details and upload documents digitally.
    • Complete vKYC directly within the app, if applicable.
    • Track your application in real time.
  • Branch-Based Application:
    • Visit the nearest Federal Bank branch and request the SimplySAVE Visa Credit Card form.
    • Fill in all details and submit with self-attested copies of identity, address, and income proof.
    • Carry originals for verification.
    • Bank staff will help with submission and initial checks.
  • Customer Care Assisted Application:
    • Call toll-free 8885545255 for guided support.
    • Representative will assist with eligibility checks and document submission methods.
  • Eligibility Criteria:
    • Age: 21–65 years for unsecured cards; 18+ for secured (FD-backed) cards.
    • Income: ₹3.6 lakh p.a. for salaried; self-employed must show stable income through ITRs.
    • Credit Score: Preferred CIBIL score of 750+; leniency for existing Federal Bank customers.
    • Nationality: Resident Indians and NRIs with valid documentation can apply.
  • Required Documents:
    • Identity Proof: Aadhaar, PAN, Passport, Voter ID, Driving License.
    • Address Proof: Utility bills, Aadhaar, Passport, Rental Agreement, Bank statement.
    • Income Proof:
      • Salaried: Last 3 salary slips, Form 16, 3-month salary account statement.
      • Self-Employed: ITRs (2 years), audited financials, 6-month bank statement.
    • Others: 2 recent passport-size photographs, existing credit card statements (if any).
  • Application Review and Approval:
    • Federal Bank verifies all details, credit history, and documents.
    • Processing typically takes 7–10 working days.
    • Get updates via email, SMS, or through the FedMobile app.
  • Tracking Application Status:
    • Track online using your application ID, PAN, or mobile number.
    • Use the FedMobile app or call customer care for real-time updates.
  • Card Activation:
    • Activate via FedMobile app, internet banking, or customer care helpline.
    • Set a secure PIN for all transaction modes (ATM, POS, UPI).

Eligibility Criteria for the Federal Bank SimplySAVE Visa Credit Card

  • Age Requirements:
    • Primary Cardholder: Must be at least 21 years old and not older than 65 years.
    • Add-On Cardholders: Must be at least 18 years old. Applicable for immediate family members.
  • Income Requirements:
    • Salaried Individuals: Minimum annual income of ₹5 lakh is typically expected.
    • Self-Employed Professionals: Annual income of at least ₹6 lakh, supported by business or professional documents.
  • Employment Status:
    • Salaried: Should have at least 1 year of continuous employment with the current employer.
    • Self-Employed: Business or professional practice must be operational for a minimum of 2 years.
  • Residency and Nationality:
    • Indian Residents: Must reside in a Federal Bank serviceable location with verifiable address proof.
    • NRIs: Eligible if maintaining an NRE/NRO account and submitting required supporting documents.
  • Credit Profile:
    • Credit Score: A score of 700 or above is preferred, based on credit reports from CIBIL/Experian.
    • Limited History: Applicants with no credit score may still qualify if income and stability are proven.
  • Banking Relationship:
    • Existing Federal Bank customers with savings accounts, FDs, or loans may have enhanced approval chances.
    • Maintaining a fixed deposit of ₹25,000+ may strengthen eligibility (especially for secured card variants).
  • Debt-to-Income Ratio:
    • A DTI ratio below 40% is generally preferred to ensure creditworthiness and repayment capability.
  • Geographic Eligibility:
    • Applicants must reside in a city/region covered by Federal Bank’s branch network.
    • Applicants in non-serviceable areas may be disqualified or asked to provide an alternate address.
  • KYC Compliance:
    • Aadhaar and PAN are mandatory.
    • NRIs may need to provide a valid passport and visa or PIO/OCI card.
  • How to Check Eligibility:
    • Use the Federal Bank website or visit a nearby branch.
    • Applicants can input age, income, and job type to receive instant eligibility feedback.
  • Educational Background:
    • Graduation or equivalent education is preferred, especially for salaried applicants in formal employment.
  • Existing Loan Repayment History:
    • Applicants must not have any current loan defaults or recent missed EMIs/credit card dues.
  • Mobile and Email Verification:
    • Applicants must provide an active mobile number and email ID for communication and KYC verification.
  • Document Authenticity:
    • All submitted documents must be current, valid, and verifiable. Forged or outdated documents may lead to rejection.
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Documents Required for the Federal Bank SimplySAVE Visa Credit Card

  • Identity Proof
    • PAN Card: Mandatory for tax purposes and required for all credit card applications.
    • Aadhaar Card: Should display the full 12-digit number and be linked to a valid mobile number.
    • Passport: Valid government-issued ID, especially important for NRIs or applicants with international addresses.
    • Voter ID: Accepted as proof of identity for Indian residents.
    • Driving License: Must be current and contain a clear photograph and accurate information.
  • Address Proof
    • Aadhaar Card: Can serve as address proof if not already submitted as identity proof.
    • Utility Bills: Recent electricity, gas, or telephone bills (issued within the last 3 months).
    • Passport: Acceptable if it contains the applicant’s current residential address.
    • Driving License: Accepted if the address is up to date.
    • Bank Statement: Recent statement from a recognized bank listing the correct address.
  • Salaried Individuals
    • Salary Slips: Payslips from the past 3 months indicating consistent income.
    • Bank Statement: Salary account statement for the past 3 to 6 months reflecting regular credits.
    • Form 16: Annual income statement from employer, used to validate income and deductions.
  • Self-Employed Individuals
    • Income Tax Returns (ITR): Filed ITR for the last two financial years.
    • Business Financials: Profit & Loss statements or balance sheets for the last two years, if available.
    • Bank Statements: Last 6 months’ statements of business or personal accounts showing steady income.
    • Business Registration: GST registration certificate, shop license, or other valid registration proof.
  • Additional Requirements for NRIs
    • Indian Address Proof: Utility bill or bank statement from a linked NRE/NRO account.
    • Overseas Address Proof: Recent utility bill, lease agreement, or valid international government-issued ID.
    • Passport and Visa: Valid Indian passport and applicable visa/work permit.
  • Photographs
    • Two recent passport-sized photographs with a plain or white background, taken within the last six months.
  • Secured Card Applicants (Optional)
    • Fixed Deposit Receipt: FD of at least ₹25,000 with Federal Bank, with a minimum tenure of 6 months.
    • Linked Savings Account: Active savings account with the bank for FD-based card issuance.
  • Application Form & Consent
    • Duly Filled Application: All personal, employment, and income details must be correctly filled.
    • Signed Consent Form: Authorizing the bank to access and verify your credit report and documents.

Factors Affecting Eligibility for Federal Bank SimplySAVE Visa Credit Card

  • Credit Score and History
    • A credit score of 750 or above from bureaus like CIBIL, Experian, or Equifax enhances approval chances.
    • Clean repayment history with no recent defaults, late payments, or write-offs is preferred.
    • Federal Bank evaluates your credit behavior over the past 12–24 months for reliability.
    • Multiple recent credit applications or hard inquiries may negatively impact eligibility.
  • Income and Financial Stability
    • Minimum monthly income of ₹25,000 for salaried applicants is generally expected.
    • Self-employed individuals should have an annual income of at least ₹3.5 lakhs with steady income proofs.
    • A lower debt-to-income ratio (below 40%) improves your approval prospects.
    • High existing liabilities (loans or credit card balances) may affect your approval or credit limit.
  • Employment and Business Continuity
    • Salaried applicants should have 6–12 months of continuous employment with the current employer.
    • Self-employed individuals should have been in business for at least 2–3 years with consistent revenue.
    • Frequent job switches or gaps in employment may lead to closer scrutiny or reduced limits.
  • Banking Relationship with Federal Bank
    • Maintaining a savings account or fixed deposit with Federal Bank can support your application.
    • A fixed deposit of ₹25,000 or more may qualify you for a secured version of the SimplySAVE Card.
    • Long-term customers may benefit from pre-approved or simplified application procedures.
  • Credit Utilization and Existing Debt
    • Ideal credit utilization ratio is below 30% (e.g., using less than ₹30,000 of a ₹1 lakh limit).
    • High utilization or outstanding credit card balances may indicate credit dependency and reduce chances.
  • Application Accuracy and Documentation
    • Ensure consistency in details like name, address, and income across all documents submitted.
    • Incomplete or mismatched KYC/income proofs may result in delays or rejection.
    • Updated contact information is important for verification and communication.
  • External and Regulatory Factors
    • Economic factors and RBI regulations may influence the bank’s approval criteria.
    • During uncertain periods, stricter eligibility norms might apply for unsecured cards.
  • Tips to Improve Approval Chances
    • Regularly monitor your credit score and resolve any discrepancies or negative entries.
    • Pay off existing debts to reduce both DTI and CUR before applying.
    • Strengthen your banking relationship with Federal Bank through deposits or accounts.
    • Avoid multiple credit product applications within a short time frame.

Frequently Asked Questions (FAQs) – Federal Bank SimplySAVE Visa Credit Card

1. What are the key features of the Federal Bank SimplySAVE Credit Card?
Cashback on grocery, dining, and utility bill payments.
Discounts on movie tickets (BookMyShow).
Fuel surcharge waiver.
Complimentary airport lounge access (terms apply).
2. What is the cashback structure?
Typically offers 5% cashback on grocery, dining, and utility spends (capped per month).
1% cashback on other retail spends (terms apply).
3. Is there an annual fee for this card?
Usually waived off if annual spends cross a specified limit (e.g., ₹50,000–₹1,00,000 per year).
4. What is the interest rate on unpaid dues?
Around 3.25% per month (39% per annum) on revolving balances.
5. Does the card offer fuel surcharge waivers?
Yes, 1% fuel surcharge waiver at petrol pumps (min. transaction ₹400–₹5,000; capped monthly).
6. How can I redeem my cashback rewards?
Cashback is automatically credited to the card account every billing cycle.
7. What is the credit limit for this card?
Varies based on income, credit score, and bank policy (usually starts around ₹25,000).
8. Are there any discounts on entertainment?
Yes, discounts on BookMyShow (e.g., 1+1 movie tickets) and partner merchant offers.
9. How to apply for the SimplySAVE Credit Card?
Online via Federal Bank’s website, by visiting a branch, or through authorized agents.
10. What is the foreign currency markup fee?
Typically 3.5% + GST on international transactions.

List of Federal Bank SimplySAVE Visa Credit Card Branches in Hyderabad

  • Hyderabad - Khairatabad
  • Hyderabad - Bank Street (Sultan Bazaar)
  • Hyderabad - Uppal
  • Hyderabad - ECIL Cross Road
  • Hyderabad - LB Nagar
  • Hyderabad - Malakpet
  • Hyderabad - Madhapur
  • Hyderabad - Banjara Hills
  • Hyderabad - Vanasthalipuram
  • Hyderabad - Ramachandra Puram
  • Hyderabad - Vengal Rao Nagar
  • Hyderabad - Mehdipatnam
  • Hyderabad - Manikonda
  • Hyderabad - Gachibowli
  • Hyderabad - KPHB Colony
  • Hyderabad - Somajiguda
  • Hyderabad - Jubilee Hills
  • Hyderabad - Karmanghat
  • Hyderabad - Hasthinapuram