ONE Card

OneCard Credit Card (Federal Bank variant — also issued by SBM, South Indian, BoB, Indian, CSB). Metal card, digital onboarding. **LIFETIME FREE: ₹0 joining / ₹0 annual / ₹0 redemption fees.** **Rewards (CORRECTED economics):** 1 Reward Point per ₹50 spent. **1 RP = ₹0.10** (statement credit). **Base effective return: 0.20%** (₹0.10 per ₹50 spent). **Boosted return: 1.00%** — top 2 spend categories in a month earn 5X (5 RP per ₹50) automatically WHEN you spend across at least 3 distinct categories that calendar month. **Fractional points:** unlike most cards, OneCard awards precise fractions — e.g. ₹25 = 0.5 RP (no rounding). **Redemption:** zero fee, points adjust directly against outstanding bill via OneCard app. **'Around You' offers:** in-app Valueback deals (5-15% instant savings on dining/grocery/retail partners) can frequently beat the base return rate. **Fuel:** 1% surcharge waiver, max ₹400/month. **Forex 1%** (low). Finance 3.75%/mo (45% p.a.). Cash advance 2.5%. Late fee tiered ₹250-1,250. **No lounge access** (confirmed by official FAQ). Eligibility: 18+, salaried or self-employed, CIBIL 750+ recommended. Secured variant (OneCard Lite via SBM) available against FD — credit limit up to 110% of FD (max ₹1.10L).