Fi–Federal Credit Card Review (MagniFi & SimpliFi)
Fi Money, the neobanking app, offers co-branded credit cards issued by Federal Bank. The line-up has changed: the premium AmpliFi is discontinued, and the active cards are the lifetime-free MagniFi and the secured SimpliFi. Here is the verified, current picture.
- MagniFi is lifetime-free — no joining or annual fee
- 5% back on eligible weekend spends
- 20% off Amazon, Zepto, Zomato & BookMyShow (weekends)
- SimpliFi helps build credit via a secured FD route
- Fully app-managed through Fi Money
- Top rewards are weekend-only; weekdays just 0.5%
- AmpliFi (premium 3% card) discontinued
- SimpliFi requires a locked fixed deposit
- Caps apply on accelerated rewards
- App-only servicing won’t suit everyone
The current Fi–Federal cards
| Card | Type | Highlights |
|---|---|---|
| MagniFi | Unsecured, lifetime-free | 5% weekend back; 20% off Amazon/Zepto/Zomato/BMS weekends; 0.5% weekdays |
| SimpliFi | Secured (FD ≥ ₹15,000) | 3X weekend / 1X weekday; 20% off select partners weekends; no fee |
| AmpliFi | Discontinued | Previously 3% across 20+ lifestyle brands |
Eligibility & documents
Apply via
Fi Money app
Issuer
Federal Bank
MagniFi
Unsecured, credit-based approval
SimpliFi
Secured against FD (min ₹15,000)
Network
Visa
Documents
PAN, Aadhaar (KYC via app)
Rewards — the real picture
Both active cards are weekend-weighted. MagniFi’s 5% back on eligible weekend spends plus 20% off four major apps (Amazon, Zepto, Zomato, BookMyShow) is genuinely useful if your discretionary spending clusters on weekends; weekday earning drops to 0.5%, so it is not a strong daily driver. SimpliFi trades a locked fixed deposit for guaranteed approval and 3X weekend rewards — a sensible tool for someone building or rebuilding a credit history at no fee.
Who these cards are for
- MagniFi: weekend spenders who shop on Amazon/Zepto/Zomato and want a no-fee card.
- SimpliFi: first-timers or credit-builders comfortable parking an FD.
- Skip if: you want strong flat everyday rewards or a premium lifestyle card (AmpliFi is gone).
How to apply & how to cancel
Apply: through the Fi Money app (KYC in-app). Cancel: request closure in-app or via Federal Bank after clearing dues; for SimpliFi, the FD is released on closure.
Final verdict
The Fi–Federal range is now a tale of two no-fee cards: MagniFi for weekend spenders who live on Amazon, Zepto and Zomato, and SimpliFi for credit-builders willing to park a fixed deposit. Both are easy, app-first and cost nothing to hold. Just note the premium AmpliFi has been discontinued, and that the best rewards are weekend-only — pair MagniFi with a flat-cashback card for weekday spends.
Frequently asked questions
Is the AmpliFi card still available?
No — the AmpliFi Fi–Federal Credit Card has been discontinued. Current options are MagniFi (unsecured, lifetime-free) and SimpliFi (secured).
Does MagniFi have any fees?
No — MagniFi is a lifetime-free card with no joining or annual fee.
What is SimpliFi?
A secured credit card issued against a fixed deposit of at least ₹15,000, earning 3X on weekends and 1X on weekdays — good for building credit.
How do I apply?
Through the Fi Money app, with KYC completed in-app. The cards are issued by Federal Bank.
Data current as of June 2026, cross-checked against Fi Money, Federal Bank and aggregator pages. Fi has been revising its card line-up — confirm the current cards and terms in the Fi Money app before applying.