Fi, in partnership with Federal Bank, has announced the launch of the MagniFi Federal Credit Card, a first-of-its-kind lifestyle card designed exclusively around the way young Indians spend on weekends.
Data indicates that Indians make 50 per cent more transactions on weekends. MagniFi credit card positions itself as the ultimate weekend companion. It offers weekend rewards, instant brand discounts, and a lifetime-free offering, making it one of the compelling lifestyle cards in the market today.
These are some of the key benefits
- The card offers a 20 percent instant discount on Amazon, Zomato, Zepto, and BookMyShow.
- Also, there is a 5 percent back on eligible weekend spends, online and in-store. You can avail these across categories such as dining, shopping, travel, cabs, groceries, and more.
- 0.5 percent of the amount spent is sent back on eligible weekday spends, ensuring value every day.
- The card is lifetime free with zero joining or annual fees.
“Weekends are no longer just days; they’re an emotion. It’s when young Indians shop more, dine out, travel, and unwind with friends and family. MagniFi is built entirely around this insight, giving customers rewards exactly when and where they spend the most, and we are delighted to be able to offer the same on the Fi Money platform,” said Sujith Narayanan, Co-Founder, Fi Money.
Why does this credit card stand out?
Unlike most credit cards that offer uniform rewards or brand-specific benefits, MagniFi is totally focused on weekends. Customers can save up to ₹20,000 annually with its blend of discounts and cashback – outperforming many paid cards.
Built for 25- 40-year-old urban professionals with higher disposable incomes, it focuses on lifestyle optimisation rather than just credit access.
Virat Diwanji, National Head, Consumer Banking, Federal Bank, said, “At Federal Bank, we have always believed in building products that reflect evolving lifestyles. This collaboration is to ensure our customers enjoy a smart, rewarding, and seamless digital experience. MagniFi Federal Fi Credit Card is a step in our journey to be the preferred banking partner for young, digital-first India.”
The MagniFi Federal Fi Credit Card is available to apply online. Customers can redeem their reward points (Fi-Points) seamlessly for gift cards, flight bookings, miles conversions, or direct bill payments.
Fi Money is an integrated financial services platform that helps users save, pay, track, invest, and borrow from a single app. Fi provides a range of products in partnership with regulated entities to provide new-age financial features for its users. These features range from savings accounts and instant loans to U.S stock investments.
Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
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