Paisabazaar and Federal Bank have introduced a new RuPay credit card designed to boost savings on everyday grocery expenses with a high cashback rate, targeting Indian households and digital shoppers.
Paisabazaar and Federal Bank have launched a new RuPay credit card aimed squarely at a routine household expense: groceries. The Federal Bank Paisabazaar Paisaback Credit Card, unveiled at the Global Fintech Festival in Mumbai, offers 7.5% cashback on eligible grocery purchases made online and in stores, according to the companies and reports in Indian business media.
The card covers purchases at supermarkets including Reliance Fresh, DMart, Star Bazaar and Nature’s Basket, as well as quick-commerce platforms such as Blinkit, Zepto, Swiggy Instamart and BigBasket. It also offers 1% cashback on eligible point-of-sale and e-commerce spending, and 0.5% cashback on eligible UPI transactions above Rs2,000, excluding grocery, fuel and travel categories, according to Paisabazaar’s product details. Cashback is credited as Cash Points and can be redeemed later.
The card carries a joining and annual fee of Rs500, but that charge is waived if annual spending reaches Rs1.5 lakh, the companies said. It also includes a fuel surcharge waiver of up to Rs100 per billing cycle and a maximum cashback benefit of Rs1,000 a month across eligible transactions. Business Standard reported that the card was launched on September 10, positioning it as a low-fee option for shoppers who spend heavily on everyday essentials.
Santosh Agarwal, chief executive of Paisabazaar, said the product was designed to turn a recurring bill into a more meaningful source of savings, while Saugata Basu, senior vice president and head of retail cards and personal loans at Federal Bank, said the partnership was built around convenience, relevance and everyday value. Paisabazaar, part of PB Fintech, says it has more than 58 million consumers across 850 cities and towns and offers a broader marketplace for loans, cards, investments, savings and bill payments.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
