Federal Bank Visa Celesta Credit Card – Benefits, Fees & Eligibility

Introduction

The Federal Bank Celesta Credit Card, issued by Federal Bank, is positioned as a premium credit card designed for individuals who value a luxurious lifestyle. It offers a bespoke 3-2-1 rewards structure, providing accelerated rewards on travel, international, and dining spends. Key differentiating benefits include complimentary domestic and international lounge access, a low foreign currency markup fee of 2%, and a Buy One Get One (BOGO) offer on INOX movie tickets. The card is also lifetime free, with no joining or annual fees.

Welcome Benefits

• Receive an Amazon Pay e-Voucher worth ₹600 on a minimum spend of ₹10,000 within the first 30 days of card setup.

Fees

• Joining Fee: Nil (Lifetime Free, limited period offer).
• Renewal Fee: Nil (Lifetime Free, limited period offer).
• Rewards Redemption Fee: A nominal convenience fee of ₹99 + GST will be charged per redemption request. The actual fee will be displayed at the time of redemption based on the category.
• Foreign Currency Markup: 2% on foreign transactions.
• Interest Rates (Annual Percentage Rate - APR): Dynamic, linked with the Average Monthly Balance (AMB) in the operative account.
  • Less than ₹50,000 AMB: 3.75% per month (45.00% per annum).
  • ₹50,000 - ₹10,00,000 AMB: 1.99% per month (23.88% per annum).
  • More than ₹10,00,000 AMB: 0.69% per month (8.28% per annum).
• Fuel Surcharge: 1% fuel surcharge waiver at all fuel stations across India.
• Cash Advance Charges: 2.5% of the amount withdrawn or ₹500, whichever is higher.
• Card Replacement Fee: ₹200 + applicable taxes.
• Add-on Card Charges: ₹100 + GST per card.
• EMI Processing Fee:
  • For transactions converted via Offline merchant outlets or online merchants: 1% of the transaction amount or ₹99, whichever is lower.
  • For transactions converted via FedMobile/FedNet/Contact Centre: 2.5% of the transaction amount or ₹200, whichever is higher.
• EMI Interest Rate: Ranges from 13% to 15% per annum + applicable GST.
• Balance Transfer Interest Rate: 0.83% per month (9.99% per annum).
• Late Payment Fee: Applicable if the Minimum Amount Due is not paid by the payment due date.

Rewards

• Rewards Structure (3-2-1 Rewards):
  • 3x Reward Points on every ₹100 spent on Travel and International categories.
  • 2x Reward Points on every ₹100 spent on Dining categories.
  • 1x Reward Point on every ₹100 spent on all other categories.
• Movies: Buy One Get One (BOGO) offer on INOX movie tickets, once a month.
• Domestic Lounge Access: 2 complimentary domestic lounge accesses per quarter on spends of ₹60,000 or more in the previous quarter (total of 8 lounges a year).
• International Lounge Access: 2 complimentary international lounge accesses per year without any spend criteria.
• Fuel: 1% fuel surcharge waiver at all fuel stations across India.
• Visa Offers: Gain access to a wide variety of Visa offers and deals, including travel, food and dining, shopping, sports, entertainment, and lifestyle.

Rewards Redemption Guide

• Reward Points can be redeemed at the Federal Rewards Portal.
• One Reward Point is equivalent to ₹0.25.
• A minimum of 250 points is required for redemption.
• Reward points are valid for 3 years from the date of accrual.

Card Eligibility Criteria

• Age:
  • Minimum 18 years of age for a Secured Federal Credit Card.
  • Minimum 21 years of age for an Unsecured Federal Credit Card.
• Credit History: A good credit history is required.
• Nationality: Applicant must be an Indian resident or a Non-resident Indian (NRI).
• Documents Required for Online Application:
  • PAN Card
  • Aadhar Card
  • Last 3 Months bank statement (for salaried, salary crediting bank account statement required).
  • Income Tax Login Credentials (for non-salaried/self-employed clients).
• Eligibility for Secured Credit Card (against Fixed Deposit):
  • Must maintain a Fixed Deposit with Federal Bank (Minimum FD amount ₹25,000 & Minimum FD tenure 6 months).
  • Age: Minimum 18 years & Maximum 80 years.
  • Only Residents can apply.
  • Must have an existing Savings Bank account with Federal Bank.

Card Review

The Federal Bank Celesta Credit Card is best suited for individuals seeking a premium lifestyle experience, particularly those with significant spending on travel, international transactions, and dining. Its lifetime free status, coupled with complimentary lounge access and a low forex markup, offers substantial value. While the reward rate might be considered unsatisfactory compared to some other premium cards, and it lacks extensive lifestyle offers beyond movies, its core benefits make it an attractive option for its target audience. The dynamic APR linked to banking relationship provides an incentive for existing Federal Bank customers with higher average monthly balances.

Pros

• Lifetime Free Credit Card with Zero Joining Fee and Zero Annual Fee.
• Low foreign currency markup fee of 2%.
• Complimentary international lounge access without spend criteria.
• Available on both Visa and Mastercard networks.

Cons

• The reward rate may be considered unsatisfactory compared to some other premium credit cards.
• Limited lifestyle offers or benefits other than the BOGO movie tickets.
• Domestic lounge access is conditional on spending ₹60,000 in the previous quarter.

Important Product Details

• Lifetime Free Credit Card with Zero Annual Membership Fee and Zero Joining Fee (limited period offer).
• Dynamic Annual Percentage Rate (APR) starting from 0.69% per month (8.28% per annum) for high AMB customers, up to 3.75% per month (45% per annum) for lower AMB.
• 3x Reward Points on Travel and International categories.
• 2x Reward Points on Dining categories.
• 1x Reward Point on all other categories.
• Welcome gift of an Amazon Pay e-Voucher worth ₹600 on spending ₹10,000 in the first 30 days.
• Buy 1 Get 1 Free offer on INOX movie tickets once every month.
• 2 complimentary domestic lounge accesses every quarter (on spending ₹60,000 in the previous quarter).
• 2 complimentary international lounge accesses every year (no spend criteria).
• 1% fuel surcharge waiver at all fuel stations.
• Low forex markup fee of 2%.

Other Details

• The card variant and network options displayed on the website are for illustrative purposes; actual selection will be available during the application process.
• Federal Bank offers various credit card variants including Celesta, Imperio, and Signet, each curated for different customer needs.
• Credit cards offer interest-free credit for up to a grace period, reward points, EMI conversion, global acceptance, expense tracking, cashback, offers, and the ability to build credit history.
• The total credit limit is the maximum amount that can be spent, while the available credit limit is the current balance remaining.
• Cash Withdrawal Limit for Celesta is 25% of the total credit limit, subject to interest charges and cash withdrawal fees.
• A credit card PIN is a four-digit code for transaction verification, which can be generated via FedMobile App, FedNet, or IVR.
• A CVV number is a 3-digit code on the back of the card for online transaction security.
• Renewal cards are typically received at least a month before the expiry of the current card.
• Communication address, registered mobile number, and email ID can be updated by visiting a Federal Bank branch or through FedMobile/FedNet for certain changes.
• Instant credit cards allow for immediate approval and virtual use for online transactions before the physical card arrives.
• Physical card delivery status can be tracked via a tracking ID shared by the delivery partner.
• Card activation for POS/ATM/Contactless requires setting a PIN, while E-com transactions can be activated via FedMobile or a missed call.
• Card controls for online, contactless, and international transactions, as well as transaction limits, can be managed through FedNet/FedMobile.
• Contactless payments allow tapping the card at NFC-enabled POS machines; the maximum limit is ₹5,000 without a PIN and ₹50,000 with a PIN.
• Add-on Credit Cards can be issued to up to 4 family members, sharing the primary card's limit and features. The primary cardholder is liable for all spends and controls the add-on card's activation and settings.
• Credit Card EMI facility allows converting transactions into flexible EMIs with various tenures, available at POS, online merchants, FedMobile, or via EMI on Call.
• Balance Transfer facility allows transferring outstanding balances from other bank credit cards to a Federal Bank Credit Card, offering easy EMIs, zero processing fees, zero documentation, and low interest rates (0.83% p.m.). Minimum transfer amount is ₹2,500, maximum is ₹7,50,000.
• Secured Credit Cards are issued against eligible Fixed Deposits with Federal Bank, offering up to 80% of the FD amount as a credit limit (capped at ₹10 Lakh).
• Credit card limit details can be checked via FedMobile/FedNet.
• The default billing date for Federal Credit Cards is the 21st of every month, with the due date 18 days later. Billing dates can be changed as a one-time option (max 5 times).
• Total Amount Due (TAD) includes all outstanding amounts, while Minimum Amount Due (MAD) is 5% of TAD (subject to a minimum of ₹200).
• Transactions can be disputed within 30 days through Federal Bank branches, FedMobile, IVR, or email, with resolutions typically within 14 working days.
• General Terms & Conditions, Most Important Terms & Conditions (MITC), and other specific terms related to add-on cards, airport lounges, EMI, and customer benefits are available on the bank's website.
• A Do Not Call (DNC) service is available for customers who do not wish to receive unsolicited marketing calls/SMS.