All about Federal Bank Credit Card
This Credit Card is designed to provide hassle-free credit to customers from rural and semi-urban centres based on their cash flow without insistence on security, purpose or end-use of the credit. This is in the nature of overdraft with no end-use stipulations.
GCC can be extended only to individuals who are residents of rural and semi-urban areas and having legitimate source of income. No proof of income is required.
Based on the assessment of income and cash flow of the entire household, subject to a ceiling of 40% of the annual income of the members of the household concerned, subject to a ceiling of Rs.25,000/-.
Interest Rates for Federal Bank Credit Card
General Credit Card (GCC): Base Rate+2.50% i.e. 12.75%
Swarojgar Credit Card (SCC): Base Rate+2.50% i.e. 12.75%
Repayment of Federal Bank Credit Card
Interest & charges if any shall be serviced monthly and other debits / drawals shall not remain outstanding for more than 12 months from the date of such debit or drawal.
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