Federal Bank in association with Visa, launched its credit card.
The newly launched credit card is available in three variants and it promises to offer a wide range of offers.
The three variants of the card are titled Celesta, Imperio and Signet, each of which is crafted to meet the needs of different segments of customers.
While the Celesta card is targeted to serve HNIs, Imperio is for family oriented customers and Signet is targeted at young, early professionals.
Bank is reportedly offering credit cards with lowest Annual Percentage Rates – dynamic Annual Percentage Rate (APR) starting from 0.49% p.m. (5.88% p.a.).
The bank is also planning to launch variants of the Rupay Credit Card in association with National Payments Corporation of India (NPCI).
Shyam Srinivasan, MD & CEO of the Bank said, “Our Credit Card is completely digital with a 3- click application approach which would make the card instantly available for use on FedMobile, our mobile banking application. We are glad we could take this digital leap and provide the consumers with the convenience they expect. We are delighted to bring forth our Credit Card to customers in partnership with Visa”.
T R Ramachandran, Group Country Manager, India and South Asia said, “Consumers often turn to credit cards when planning big ticket purchases but more recently, we have seen this usage extend to more segments, geographies and categories. We are delighted to partner with Federal Bank and extend credit card services to the Bank’s different consumer segments and needs.
With the number of credit cards in the country currently far lower than credit eligible customers, we see great potential in partnering with the bank to scale up through such partnerships and offering consumers the convenience and benefits of paying by credit cards.”