Federal Bank, Paisabazaar launch Paisaback card with 7.5% grocery cashback
Federal Bank and Paisabazaar just dropped the Paisaback Credit Card at the Global Fintech Festival in Mumbai.
If you are someone who shops for groceries often, this card is pretty tempting: it gives up to 7.5% cashback at stores like DMart, Reliance Fresh, and Nature's Basket.
Plus, you get extra cashback for e-commerce buys and UPI payments over ₹2,000.
Annual ₹500 fee, ₹1,000 monthly cap
You can earn up to ₹1,000 cashback each month. The card has a ₹1,000 monthly cashback cap across eligible transactions, with different cashback rates and eligibility rules by transaction type.
The card has a ₹500 annual fee that is waived if you spend ₹1.5 lakh in a year. There is also a fuel surcharge waiver of up to ₹100 per billing cycle.
Just make sure to check which merchants are eligible so you do not miss out on rewards!