Fi Money and Federal Bank launch MagniFi weekend credit card

By Vriti Gothi

Fi, an AI-powered money management platform, has partnered with Federal Bank and launched MagniFi Federal Fi Credit Card, a lifestyle card designed specifically around the spending patterns of young Indians on weekends.

Data insights show that Indians transact 50% more on weekends compared to weekdays. MagniFi positions itself as the ultimate “weekend companion,” delivering a seamless combination of instant brand discounts, rewarding cashback, and a lifetime-free structure. The card reflects a strategic focus on digital-first, customer-centric design, aligning rewards with actual user behaviour rather than generic offerings.

MagniFi offers 20% instant discounts on leading brands, including Amazon, Zomato, Zepto, and BookMyShow. Customers enjoy 5% cashback on eligible weekend spends across dining, shopping, travel, cabs, groceries, and more, along with 0.5% cashback on eligible weekday spends, ensuring consistent value every day. With zero joining or annual fees, the card is designed to offer lifetime benefits while optimising lifestyle experiences.

“Weekends are no longer just days; they’re an emotion. It’s when young Indians shop more, dine out, travel, and unwind with friends and family. MagniFi is built entirely around this insight, giving customers rewards exactly when and where they spend the most, and we are delighted to be able to offer the same on the Fi Money platform,” said Sujith Narayanan, Co-Founder, Fi Money.

Unlike conventional credit cards offering uniform rewards or brand-specific perks, MagniFi is laser-focused on weekend spending patterns, enabling customers to save up to $225.24 annually through a combination of discounts and cashback, surpassing many paid cards in the market. Targeted at 25–40-year-old urban professionals with higher disposable incomes, the card is designed to optimise lifestyle experiences rather than merely provide credit access, reflecting a forward-looking approach to financial product innovation.

“At Federal Bank, we have always believed in building products that reflect evolving lifestyles. This collaboration is to ensure our customers enjoy a smart, rewarding and seamless digital experience. MagniFi Federal Fi Credit Card is a step in our journey to be the preferred banking partner for young, digital-first India,” said Virat Diwanji, National Head – Consumer Banking, Federal Bank.