Federal bank interest rate changes

[ghost of sparta]

https://www.federalbank.co.in/documents/10180/81307/Service%20charges%20and%20Fees-%20Credit%20Card.pdf/3722aab2-bb67-63da-6e71-8e2eca5b7868?t=1717240257567

 

[shashankverma]

Ok thanks for pointing. I stand corrected in that case. Assumed it’s only for Interest rate

 

[Fini7777]

And here I'm, whose application got rejected last month and cool off period ends only on August

No more hopes on LTF

 

[AlgoTrader]

It's unclear as per screenshot

 

[Fini7777]

Read the lines below federal logo

 

[ghost of sparta]

Ok thanks for pointing. I stand corrected in that case. Assumed it’s only for Interest rate

Now I too am not sure. As others are pointing out, it is still unclear. I will update the post if we get any new info.

 

[SonyTom]

Nowhere in pdf or email is it written than LTF offer is coming to an end. They have only changed the interest rates. Nothing to worry for those with ltf or those who plan to get ltf in future

 

[SonyTom]

Ok thanks for pointing. I stand corrected in that case. Assumed it’s only for Interest rate

You are correct. Its only for interest rate.
They probably forgot to put an asterix near JF/AF nil explanation for customers onbarded after Apr 3,2023.

The asterix with explanation ‘wef 21 Juky 2024’ is for the change in interest rate charged on outstanding balance less than 50000.

 

[SonyTom]

A bigger devaluation is coming

From 15 July 2024, redeeming points to credit card statement will give only 10ps per point. Now it's 25ps per point.

So rush to

https://www.federalrewards.in

And redeem your points.
Reward redemption fees is ₹100 or 400 points

One devaluation which we didn't notice has already happened. From June 1, 2024, while redeeming points to buy gift vouchers only 70% can be paid with points.

 

[bhaveshS]

They charge for wallet loading already?

 

[SonyTom]

They charge for wallet loading already?

Yes 1% and also rent 1%

 

[bhaveshS]

Yes 1% and also rent 1%

It's already their or it's applicable after 21 st july?

 

[SonyTom]

It's already their or it's applicable after 21 st july?

From 1 May 2024, already there

Devaluation - Federal Bank 1% charge on Wallet Load

Federal Bank Credit Card Devaluation. 1% charges on Wallet Load https://www.federalbank.co.in/wallet-loading-charges

www.technofino.in

 

[althafvly]

<Edit: It is unclear as per the doc and snapshot whether JF & AF have changed. I will update the post, incase we get concrete info>

Federal bank published revised charges today on their website.

Signet card - 750 JF, 750 Af
Imperio card - 1500 JF, 1500 Af
Celesta card - 3000 JF, 3000 Af
Charges applicable from July 21st, 2024.
If you didn't get a federal bank credit card. Apply before 21st July to get it LTF.

https://www.federalbank.co.in/documents/10180/81307/Service%20charges%20and%20Fees-%20Credit%20Card.pdf/3722aab2-bb67-63da-6e71-8e2eca5b7868?t=1717240257567

We wish to bring to your kind attention that effective 21st July 2024, the annual interest charges on our Credit Cards will be revised.

Misleading post.

 

[SonyTom]

We wish to bring to your kind attention that effective 21st July 2024, the annual interest charges on our Credit Cards will be revised.

Misleading post.

True. @ghost of sparta it may be better to revise the title