Is the Federal Bank Signet Credit Card Worth It?
Enter what you spend where this card pays more, and the benefits you would use. See what it is worth to you in rupees, after its fee.
- 207Cards to check
- FreeCost
- Shopping card
- No annual fee
- 0.13% base, up to 0.25% on streaming subscriptions; 0.38% only at partner merchants
- 4 lounge visits a year
- Pays in reward points
- online shopping only at Electronics and apparel: 0.38% back
- streaming subscriptions: 0.25% back
- anyone who wants no annual fee, ever
- flyers: 4 airport lounge visits a year
- most of your spending is fuel, rent, wallet top-ups or government payments: those earn nothing on this card
- you rarely spend on Electronics and apparel: the 0.38% rate applies only there, everything else earns 0.13%
- you often pay in foreign currency: 3.5% is added to every foreign spend
- you sometimes pay only the minimum due: interest of 3.75% a month (45% a year) outweighs any reward
Your spend a month, by kind
Terms on the normal rate: 1 Reward Point per ₹200 (1x base). Rent, fuel, government, e-wallet loading, cash, quasi-cash and financial institution spends earn nothing; insurance points are capped at 250 a month.
Also earns nothing on: Financial institutions.
Total on the card: ₹0 a month
Abroad and benefits
Every rate on this card, and what your spend earns
| Spend category | Rate | Monthly cap | Where it applies | Your spend earns |
|---|---|---|---|---|
| UPI payments (scan and pay) | 0.13% | No cap | The card's normal rate | - |
| Online shopping | 0.13% | No cap | Anywhere else in the category | - |
| Online shopping, only at listed merchants | 0.38% | No cap | Only at: Electronics and apparelTerms: 3x, 3 Reward Points per ₹200, limited to the electronics and apparel merchant categories rather than all online shopping. | - |
| Dining and food delivery | 0.13% | No cap | The card's normal rate | - |
| Groceries | 0.13% | No cap | The card's normal rate | - |
| Travel: flights, hotels, trains | 0.13% | No cap | The card's normal rate | - |
| Fuel | Earns nothing | - | earns nothing on this card | - |
| Bills and recharges | 0.13% | No cap | The card's normal rate | - |
| Rent | Earns nothing | - | earns nothing on this card | - |
| Insurance premiums | 0.13% | ₹63 | All merchants in the categoryTerms: Insurance premiums earn the base rate but are capped at 250 Reward Points per card per calendar month, a limit Federal introduced on 15 July 2024. This is a cap, not an exclusion, insurance does still earn. | - |
| School and college fees | 0.13% | No cap | The card's normal rate | - |
| Wallet top-ups | Earns nothing | - | earns nothing on this card | - |
| Taxes and government payments | Earns nothing | - | earns nothing on this card | - |
| Spend abroad or in a foreign currency | 0.13% | No cap | The card's normal rate | - |
| Streaming subscriptions | 0.25% | No cap | All merchants in the categoryTerms: 2x, 2 Reward Points per ₹200 on the entertainment merchant category. Federal defines this by merchant category, so it is broader than streaming subscriptions alone. | - |
| Everything else | 0.13% | No cap | The card's normal rate | - |
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Common Questions
When is a credit card worth its annual fee?
When the rewards you actually earn in a year are more than the fee plus 18% GST, or when you spend enough for the bank to waive the fee. This calculator works out both from the card's own published terms.
Why is GST added to the fee?
Card fees carry 18% GST, so a ₹1,000 fee costs ₹1,180. Where the bank already quotes the fee with GST, it is not added twice.
What does 'capped' mean?
Many cards limit the reward you can earn in a month in a category. Spending above the cap earns nothing extra, so the calculator stops counting there.
Is a lifetime free card always better?
Not always. A paid card with higher rewards can leave you with more once you spend enough. The break-even line shows the monthly spend where that starts.
Guides in Plain Words
Short reads that explain how it works before you decide.
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