Virtual Contactless RuPay Credit Card for Fast UPI & Everyday Spends
Federal Bank digital customers, daily UPI transactors, and consumers seeking a zero-fee virtual card for routine grocery and dining QR payments.
Free
One-time upfrontFree
Lifetime Free — no renewal feeFederal Rewards
On eligible spends3.50% + GST
Cross-currency spendsLast verified 2 Oct 2026
Objective editorial assessment, ideal spender profile, and primary trade-offs
The Federal Bank RuPay Wave Credit Card is an all-virtual, digital-native payment instrument created by Federal Bank to capitalize on the surging adoption of UPI credit linkage in India. Configured as a 100% Lifetime Free (LTF) product, it eliminates all recurring fee friction with ₹0 joining fee and ₹0 annual fee permanently. The card is provisioned directly inside the FedMobile application and connects instantly to Google Pay, PhonePe, Paytm, and BHIM. Cardholders earn 1 Reward Point per ₹100 spent on all eligible merchant UPI payments and everyday contactless Wave transactions, with 2X reward points on dining and online food deliveries. Points convert seamlessly to cash credit or catalog vouchers at ₹0.25 per point. Cardholders also enjoy a 1% fuel surcharge waiver for spends between ₹400 and ₹4,000 (up to ₹100 per statement cycle) across petrol pumps nationwide. With instant virtual generation, dynamic CVV security, and zero plastic environmental footprint, the RuPay Wave card is a sensible, worry-free companion for day-to-day Indian consumers. While it does not provide airport lounge access or luxury travel perks, its zero-cost architecture makes it one of the simplest UPI credit cards to hold indefinitely.
Federal Rewards
- No merchant refund/cashback/credit due to transactions converted to EMI / cancelled transactions / reversals / promotional cashback will be considered as a payment towards the outstanding of the card.
- Fuel surcharge and applicable taxes (including GST) if any, are levied by the fuel merchant/acquiring bank.
Base earning rates, partner merchant acceleration, redemption options, and exclusions
| Spend Category | Earn Rate | Reward Cap | Conditions |
|---|---|---|---|
| UPI Scan & Pay Merchant Spends | 1% cashback on eligible merchant UPI scan & pay transactions | No Cap | Standard terms apply |
Calculate estimated net cashback and points across your actual spending pattern.
Estimate your rewards using the card's current reward rates, monthly caps and applicable fee-waiver rules.
Customize monthly spend in each category. Category amounts sum directly to your monthly spend.
| Category / Reward Bucket | Monthly Spend | Rate | Effective Rate | Cap Period | Eligible Reward | Cap Status |
|---|---|---|---|---|---|---|
| UPI Scan & Pay Merchant Spends | ₹30,000 | 1% cashback on eligible merchant UPI scan & pay transactions | — | None | Calculating... | Under cap |
| Total Monthly Cashback | ₹30,000 | - | — | - | ₹0 / mo | Zero cap loss |
₹3.6 lakh
12 billing cycles₹0
0% blended return₹0
Standard renewal+₹0 / yr
Rewards - FeeDomestic and international lounge privileges, spend hurdles, and participating terminals
This card is tailored primarily for shopping rewards, cashback, or specific co-branded spend and does not include complimentary airport lounge visits.
Complete breakdown of joining, renewal, forex, financing APR, and transaction charges
• Joining Fee: ₹0 (Lifetime Free); Annual Renewal Fee: ₹0 (Lifetime Free). • Rewards Structure: 1 Reward Point per ₹100 on UPI QR merchant payments and online retail; 2X points on dining. • Point Valuation: 1 Reward Point = ₹0.25 against statement credit or gift vouchers via Federal Bank reward portal. • UPI Linking: Certified RuPay credit card ready for immediate pairing with Google Pay, PhonePe, and Paytm. • Fuel Surcharge: 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 (maximum waiver of ₹100 per cycle). • Issuance: 100% virtual card managed through the FedMobile banking application. • Exclusions: P2P personal UPI transfers, wallet loading, rent payments, and cash advances earn zero reward points.
Evaluate whether this card's perks and waiver threshold justify its Free renewal fee.
Income criteria, minimum age, CIBIL score benchmark, and verification checklist
Common questions regarding Federal Bank Rupay Wave Credit Card application, fees, reward redemption, and eligibility
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Direct online application on the official Federal Bank portal with paperless verification.
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