Money & Banking

Federal Bank partners with NPCI for RuPay credit card

Our Bureau Mumbai | Updated on September 28, 2021

The card will come with the lowest APR starting from 5.88% per annum

Federal Bank has partnered with the National Payments Corporation of India (NPCI) to launch the Federal Bank RuPay Signet Contactless Credit Card.

“One of the major highlights of this card is, it comes with the lowest Annual Percentage Rate (APR) starting from just 5.88 per cent per annum,” the private sector lender said in a statement on Monday.

At present, the card is offered to existing customers of the bank.

The bank has adopted a ‘Digital First’ and the card immediately made available for use in FedMobile. The physical card will be delivered to the customer in due course.

Federal Bank had launched credit cards for existing customers in June this year and had an exclusive tie-up with Mastercard. This had got impacted after the Reserve Bank of India barred Mastercard from acquiring new customers.

Shalini Warrier, Executive Director, Federal Bank had said in July that the bank would restart issuance of credit cards within two months and was in talks with both Visa and RuPay.

Published on September 27, 2021

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