Credit Card Renewal - Terms and Conditions

(i) At the time of renewal, the Cardholder has the option to change the existing Card Network linked to the Credit Card (“Card”). If the cardholder wishes to change the existing Card Network to a preferred network from the available options viz. MasterCard/Visa/RuPay, please contact our customer service centre (“Contact Centre”)1800-425-1199/1800-420-1199 or e-mail us at : creditcards@federalbank.co.in . Request for the change of Network must be submitted at least 45 days prior to your existing Credit Card expiry date.

(ii) Cardholders holding Wave Credit Cards, will not be able to choose the preferred network as “RuPay” for primary Card. If the Cardholder intends to select preferred network as RuPay for his/her Card, he/she will have to close the Federal RuPay Wave credit card and then request for change in network for Primary Card through Contact Center.

(i) If the Cardholder does not intend to renew the Credit Card, he/she should give intimation to the Bank, 45 days prior to the expiry date of Credit Card by sending a SMS in the format – “NOREISSUE<space>(last 4 digits of your card) to 9008915353”from their registered mobile number.

(ii) If such intimation is not received, the Bank will, subject to clauses 5 & 6 below, automatically renew the Card without any further notice or communication . The renewal fee (if applicable at the time of renewal) shall be charged to your Card Account, which shall be non-refundable at the rates applicable.

(iii) The intimation regarding non-renewal of Your Primary card, given, communicated via SMS as mentioned above, will also apply to y Add on Card/s issued (if any) under the Primary Card.

a. Customers opted out for renewal, complying with the process provided in clause 2 above.

b. No customer induced transactions done using the Card/s for the past 1 (one) year

c. Delinquent Card accounts with classifications SMA1, SMA2 & NPA

d. Primary Card is closed, regardless of whether the closure is initiated by the Bank or the Customer, including cases where the Card account is settled through One time Settlement or is technically written off, as per the guidelines of RBI.

(A) In the event of non-renewal of Secured Cards, the Bank will proceed with the following actions:

i) If there are no outstanding amounts payable under any of the accounts related to Card/s as on the expiry date -- which will include the amounts payable under the Primary Credit Card, Add on Cards/s and/or the Federal Wave Credit Card (collectively referred to as “Card/s”) as issued to the Cardholder -- the Secured/ Primary Credit Card along with the Federal Wave Credit Card and any Add on Card/s, will be closed after the Card expiry date. The lien/charge placed on the Term Deposits, to secure payments in the Card Account/s will be lifted within 30 (thirty) days from the date of card closure.

ii) If there are outstanding amounts (as on the date of expiry) payable under the Card/s viz. Secured Credit Card, Add on Card and the Federal Wave Credit card:

(a) The Cardholder shall make payment of the amounts due under the Cards forthwith. Transactions will be restricted for all Cards viz. Secured Credit Card, Add-on Card and Federal Wave Credit Card, after the Card Expiry Date and the Cardholder will be able to make payment into the Card account until the entire outstanding dues in the Card account (including the accounts related to Secured Credit Card, Add-On Card and Federal Wave Card), is cleared in full to the satisfaction of the Bank. Once the outstanding balance is cleared, the Card accounts will be closed, and the lien/charge created on the Term Deposits to secure payments in the Card Account/s will be lifted, within 30 days from the date of card closure.

(b) If the Cardholder fails to repay the outstanding dues under the Cards (which includes the Secured Credit Card, Add-on Card and Federal Wave Card, as applicable), within 30 days from the date of closure of the Card/s, the Term Deposit/s charged to the Secured Credit Card shall be closed on the subsequent date to recover the outstanding dues under the Cards viz. Secured Credit Card, Federal Wave Credit Card and Add on Card. The Term deposits charged to the Card accounts shall be closed, irrespective of the actual outstanding dues payable by the Cardholder under the Card/s accounts, and the proceeds thereof shall be credited to the respective Card account/s to settle the outstanding dues and closure of the Card/s. Any surplus amount remaining after the adjustment of outstanding dues under the Card/s accounts, shall be refunded to the Cardholder's operative account with the Bank. The refunds, if applicable, will be processed within 7 (seven) business days from the date of closure of Card/s.

(B) The Card/s other than the Secured Credit Cards, which are not renewed, will be deactivated for all the customer induced transactions after the Card Expiry date. However, Cardholders will be able to receive the Card Statements and to make payment of their outstanding balances (above Rs. 200/-) even after the Card expiry date. In the event of failure of the Cardholders to make payment of their dues under the Card account/s, the Card Account/s will be classified as SMA/ NPA as stipulated in the MITC/ T & C for Cards and the Bank will resort to the recovery actions under applicable law.

(C) The Card/s deactivated as mentioned above, will not be re-issued under any circumstances and if the Cardholder requires credit card facility, he/ she will have to apply for a new credit card.

(i) The Primary Credit Cardholder will receive the renewal Card/s at the same address selected by him/her, at the time of onboarding, for the delivery of Cards before expiry of the current credit card. For instance:

a. Cardholder/s who have selected permanent address for delivery of Card/s, at the time of onboarding, the renewed Card/s will be delivered to their permanent address only.

b. Cardholder/s who have selected communication address for delivery of Card/s at the time of onboarding, the renewed Card will be delivered to the communication address only.

(ii) The renewed Add‑on Card/s will be dispatched to the respective communication address/es provided to the Bank, at the time of Add‑on Card issuance.

a. Pin set (Bank’s Mobile application, IVR, FedNet)

b. Ecom Activation (Missed Call, IVR, etc)

c. Transaction initiated