Fi and Federal Bank launches Magnifi, a weekend credit card

Fi, in partnership with the Federal Bank, announced the launch of the Magnifi Federal Credit Card, a first -class lifestyle card, which is exclusively designed around the way young Indians spend weekends. Data indicates that Indians do 50 percent more transactions on weekends. Magnifi -Credit Card positions itself as the ultimate weekend fellow. It offers weekend rewards, direct brand discounts and a life -free offer, making it one of the compelling lifestyle cards in the market. These are some of the most important benefits that the card offers a 20 percent immediate discount on Amazon, Zomato, Zepto and BookmyShow. There are also 5 percent back on eligible weekend spending, online and in the store. You can use it over categories such as eateries, shopping, traveling, taxis, groceries and more. 0.5 percent of the amount spent is returned on the suitable weekday spending, which ensures value every day. The card is free of life with no connection or annual fees. ‘Weekends are no longer just days; This is an emotion. This is when young Indians do more shopping, go and eat, travel and relax with friends and family. Magnifi is completely built around this insight, giving customers the reward exactly when and where they spend the most, and we are delighted to offer the same on the FI money platform, ‘says Sujith Narayanan, co-founder, Fi Money. Why does this credit card stand out? Unlike most credit cards that offer uniform rewards or brand -specific benefits, Magnifi is completely focused on weekends. Customers can save up to £ 20,000 annually with their discount and cashback mix – which is better than many paid cards. It is built for 25- 40-year-old urban professionals with higher disposable income and focus on lifestyle optimization rather than just credit access. Virat Diwanji, National Chief, Consumer Banking, Federal Bank, said: “At Federal Bank, we always believed in building products that reflect the developing lifestyle. This collaboration is to ensure that our clients enjoy a smart, rewarding and seamless digital experience. Magnifi Federal Fi Credit Card is a step in our journey to the young first India.” The Magnifi Federal FI credit card is available to apply online. Customers can seamlessly relieve their reward points (FI-Points) for gift cards, flight bookings, mileage conversions or direct account payments. Fi Money is an integrated financial services platform that helps users save, pay, track, invest and borrow a single app. FI offers a variety of products in partnership with regulated entities to provide financial functions for new age to its users. These features range from savings accounts and direct loans to US stock investments. Disclaimer: Mint has a fusion with fintechs to provide credit, you must share your information if you apply. These bonds do not affect our editorial content. This article only intends to educate and distribute awareness about credit needs such as loans, credit cards and creditworthiness. Mint does not promote or encourage credit as it has a set of risks such as high interest rates, hidden costs, etc.