T&Cs for Salary Account benefits

The Fi Salary Program comes with fantastic benefits, and we want to ensure you're aware of all the perks & terms of use that come with it. These Terms and Conditions (T&Cs) are meant to be read by you along with the Fi Terms and Conditions + Fi Privacy Policy. All of which you agreed to while opening your Federal Bank Savings Account via the Fi app. Don't worry! We promise to keep the legal jargon to a minimum.

Salary Benefits: All You Need to Know

Eligibility:
The Fi Salary Program is only open to employees of select companies who have onboarded with Fi.

As part of the Fi Salary Program, you will receive the following:

Benefits	Salary Basic Plan	Salary Plan
Rewards Offer	1% back as Fi-Coins worth up to ₹100/month on UPI merchant spends through Fi and domestic Fi-Federal Debit Card transactions. Rewards for a given month will be available during the first week of the subsequent month.	2% back as Fi-Coins worth up to ₹1000/month on UPI merchant spends through Fi and domestic Fi-Federal Debit Card transactions. Rewards for a given month will be available during the first week of the subsequent month.
Free 10-leaf Chequebook	Yes (₹100 + GST will be charged & reversed to your a/c in 30 days)	Yes (₹100 + GST will be charged & reversed to your a/c in 30 days)
Physical Fi-Federal Debit Card	Free	Free
Zero Forex Charges on Debit Card (on eligible transactions and non-crypto txns)	On eligible transactions up to ₹30,000/month. Forex charges will be debited and then refunded within 30 days.	Unlimited 0 Forex charges on eligible transactions. Charges will be debited and then refunded within 30 days.
Health & Wellness benefits (subject to Fi’s sole discretion and as agreed with the company)	Top-up Health Insurance up to ₹20 lakh or base health insurance up to ₹2 lakh or OPD benefits worth ₹10,000 or Personal Accident coverage	Top-up Health Insurance up to ₹20 lakh or base health insurance up to ₹2 lakh Or OPD benefits worth ₹10,000 or personal accident coverage

A Detailed Breakdown of the Plans & Rewards

1. For Salary plan: Flat 2% back on your monthly spends (Up to ₹1000/month)
For Salary plan benefits to become active, your employer should directly deposit your salary into your savings account, which Federal Bank provides via the Fi app.

Eligibility:
Salary plan requires a minimum salary credit of INR 25,000 per month.

How the 2% back reward works:

This offer is eligible to Salary plan users. For any reason, if you change your salary account, move to a different plan on the Fi app, or stop receiving salary in this account this offer would not be applicable for you & you would get benefits as per your new plan.
To qualify: Pay using Fi Money UPI from your Federal Bank Savings Account or a Fi-Federal Debit Card for shopping during the offer period.
Under this offer, you will get 2% back as Fi-Coins on merchant payments made using Fi Money UPI or Fi-Federal Debit card.
The following payments are eligible for this offer:
- Fi-Federal Debit card payments made to a shopping website/app or using a card machine at any shop.
- Fi Money UPI payments using a Federal Bank Savings Account linked to Fi using a QR code at any shop.
  - Any UPI payments made using third-party apps like Gpay, Phonepe, or Paytm will not be rewarded. Only UPI payments made through the Federal Bank Savings account linked to Fi processed using the Fi app will be rewarded.
  - Only purchases with Indian entities of merchants will qualify for rewards.
  - Refunded or reversed payments will not be considered for rewards. The money-plant will be reversed on refunds.
  - The total reward will be sent to you on the 5th of the next calendar month as a money plant in the 'My Rewards' section of the Fi app. You'll receive up to 50000 Fi-Coins (equivalent to ₹1000) based on your transactions. You can convert these Fi-Coins into cash or Gift Cards from top brands or even convert them into air miles from popular air carriers.

Terms for this offer

Only payments of ₹100 and above are eligible for this reward.
For every payment, you will receive a maximum of ₹30 back (1500 Fi-Coins).
You can receive a maximum of ₹100 back (5000 Fi-Coins) in a day
You can receive a maximum of ₹1000 back (50,000 Fi-Coins) in any calendar month.
This offer is active from 1 April, 2025.

2. For Salary Basic: Flat 1% back on your monthly spends (Up to ₹100/month)
For Fi's Salary Basic benefits to become active, your employer should directly deposit your salary into your Savings Account — provided by Federal Bank via the Fi app.

Eligibility: To qualify for the Salary Basic Plan, individuals must meet a minimum salary requirement ranging from ₹15,000 per month. This requirement is subject to the discretion of Fi and will be determined through discussions with the company.

How the 1% back reward works

This offer is eligible to Salary Basic plan users. For any reason, if you change your salary account, move to a different plan on the Fi app, or stop receiving salary in this account this offer would not be applicable for you & you would get benefits as per your new plan.
To qualify: Pay using Fi Money UPI from your Federal Bank Savings Account on Fi-Federal Debit Card for shopping during the offer period
Under this offer, you will get flat 1% back as Fi-Coins on merchant payments made using Fi Money UPI or Fi-Federal Debit card. The following payments are eligible for this offer:
1. Fi-Federal Debit Card payments made to a shopping website/app or using a card machine at any shop
2. UPI payments made via the Fi app using a Federal Savings Account at any shop using a QR code.
Any UPI payments made from your Federal Bank Savings account using third party apps like Gpay , Phonepe, Paytm will not be rewarded. Only UPI payments processed using Fi app will be rewarded.
Refunded or reversed payments will also not be considered for rewards. The money-plant will be reversed on refunds.
The total reward will be sent to you on the 5th of the next calendar month as a money plant in the 'My Rewards' section of the Fi app. When you open the money plant, you'll receive Fi-Coins equivalent to the reward amount. For example, if you make eligible payments worth ₹10,000 in April, the money plant will be credited to you on May 5th. Upon opening it, you'll receive 5000 Fi-Coins (equivalent to ₹100). You can then convert these Fi-Coins into cash or Gift Cards from top brands or even convert them into air miles from popular air carriers

Terms for this offer

Only payments of ₹100 and above are eligible for this reward.
For every payment, you will receive a maximum of ₹10 back (500 Fi-Coins).
You can receive a maximum of ₹20 back (1000 Fi-Coins) in a day
You can receive a maximum of ₹100 back (5000 Fi-Coins) in any calendar month
Only purchases with India entities of merchants will qualify for rewards
This offer is active from 1 April, 2025.

3. Free cheque book
How it works

Salary/ Salary Basic benefit holders can order a 10-leaf chequebook by contacting the Fi Money Customer Care team, i.e. Fi Cares team.
An amount of ₹100+GST will be debited from your Fi-Federal Savings Account & will get refunded to you on the following salary credit.
If you need more cheque leaves, it's ₹100 + GST per 10 leaves thereafter.

4. Free physical Fi-Federal Debit Card
Details

Salary/ Salary Basic benefit holders get a free physical VISA Platinum Fi-Federal Debit Card.

5. Zero forex charges on Debit Card
Details

Salary benefit holders get a 0% forex markup on unlimited international spends. Technically, forex charges of 3.5% will be deducted from all international payments, but we'll refund this money to your salary account every month.
Users will have to pay a 3.5% forex markup on any crypto-related transactions.
Salary Basic benefit holders will only receive refunds for forex charges on spends up to ₹30,000/month.

6. Health insurance top-up; up to ₹20 lakh
Details

As part of the Salary Basic Plan, you may be provided 2x top-up insurance coverage at Fi's discretion
For example, if your existing health coverage is ₹2 lakh, you will get an additional ₹4 lakh coverage with the top-up scheme
The top-up coverage will be valid for a period of one year from the date of signing up or the benefit. However, please note that the top-up coverage will only be valid till your salary account on the Fi application is active. To maintain this, you should receive your salary on a regular basis in your salary account.
To learn more about health insurance top-up, visit the salary account benefits section in the Fi app.
Insurance-specific terms & conditions apply

7. Base Health Insurance up to ₹2 lakh
Details

As part of the Salary Basic Plan, you can get a Base Health insurance of up to ₹2 lakh at Fi's discretion.
The coverage is valid for one year from the date you sign up for the benefit.
However, this coverage will only be valid until your salary account on the Fi app remains active. To keep your health insurance benefits active, you should regularly receive your salary in your Federal Bank account linked to the Fi app.
To learn more about base health insurance, visit the salary account benefits section in the Fi app.
Insurance-specific terms & conditions apply

General Terms and Conditions

Our salary program provides exclusive benefits on your savings account offered by Federal Bank through Fi — over and above a regular savings account on the app. Upon receiving your salary in your savings account, such additional benefits are granted to you.
You agree that your Federal Bank Savings Account accessible through Fi may be categorised as part of the Fi Salary Program only if you meet the eligibility criteria mentioned in the terms below.
You may get access to a salary account by:
1. Confirming your employment details with Fi.
2. Asking your human resources manager to make this Federal Bank a/c opened through Fi your salary account by providing them all the details of the a/c.
3. Benefits will only unlock after receiving your salary in your Federal Bank Savings Account, accessible through Fi. At this point, your account will upgrade to a 'Salary Account' as part of the Fi Salary Program.
To receive your salary in your savings account, you might need to reach out to your company's payroll or HR team. You can do this by sharing details of your Savings Account opened through Fi with the concerned department at your company. You can initiate an email to the concerned parties from within the Fi app. Please note that by doing so, you agree and consent to us sharing your account details, like your savings account name, number and IFSC code, as per your instruction. In addition, you also agree to share a digital cancelled cheque as proof of your account details. This cheque is issued by Federal Bank for account verification only. If needed, you can also remove this cancelled cheque from your email.
You get the below-mentioned benefits when you upgrade to the Salary Plan. You can find detailed T&Cs for each benefit mentioned in the 'T&Cs for salary account benefits' section:
1. Monthly back offer - Flat 2% back on your UPI up to ₹1000/month (through the Fi app) and Debit Card monthly spends, credited in the first week of next month
2. Exclusive access to Gift Vouchers from top brands
3. Free cheque book
4. Free VISA Platinum Fi-Federal Debit Card (physical)
5. For eligible international Debit Card spends: Unlimited zero forex charges on Salary and on Salary Basic zero forex markup up to ₹30k monthly
6. Health insurance top-up up to ₹20 Lakh (at Fi's discretion)
The eligibility criteria for converting your Federal Bank Savings Account accessible through Fi to Fi's Salary Program have been mentioned below.
1. Your employer should be partnered with Fi Money for the Fi Salary Program. To enable your company, you can send an email to salaryprogram@epifi.com
2. Your employer (company) should be registered on the Ministry of Corporate Affairs portal. Or be listed in the Employees' Provident Fund Organisation (EPFO). Or should be registered with the GST authority.
3. The salary should arrive from the verified employer in your Federal Bank Savings Account (opened through the Fi app).
4. To be eligible for the Fi Salary Program: a minimum salary credit of INR 25,000 per month is required.
Note: Fi, at its discretion, maintains the right to unilaterally vary the terms or cancel the Fi Salary Program and change the eligibility criteria (with or without notice). Any change (including a unilateral change) in terms of the salary account program would not make Fi or its partner bank liable for any (i) lost profits, (ii) loss of goodwill, or (iii) any special, indirect, incidental, punitive, or consequential damages of any kind whatsoever. However, Fi will take all reasonable and commercially prudent steps to inform users of any change in the salary account program.
You agree that your Federal Bank Savings Account via Fi may be categorised as an account with the Salary Basic Plan only if you qualify for the eligibility criteria mentioned as per these terms. You get the below-mentioned benefits when you upgrade to the Salary Basic Plan. You can find detailed T&Cs for each benefit mentioned in the 'T&Cs for salary account benefits' section:
1. Monthly back offer - Flat 1% back up to ₹100/month on Fi Money UPI spends and Debit Card transactions. You'll receive it in the first week of the next month.
2. Free chequebook
3. Free VISA Platinum Fi-Federal Debit Card (physical)
4. Zero Forex charges on Debit Card for spends up to ₹30,000/month on eligible transactions
The eligibility criteria for converting your savings account to a Salary Basic account have been mentioned below:
1. To be eligible for the Fi Salary Basic Plan: A minimum credit range of ₹15,000 per month is required — subject to Fi's discretion & discussion with the company.
2. Fi reserves the right to provide an upgrade option to this program at its discretion, which could be available selectively to a few users.
3. Note: at its discretion, Fi maintains the right to unilaterally vary the terms or cancel the salary account program and change the eligibility criteria (with or without notice). Any change (including a unilateral change) in terms of the salary account program would not make Fi or its partner bank liable for any: (i) lost profits, (ii) loss of goodwill, (iii) any special, indirect, incidental, punitive, or consequential damages of any kind whatsoever. However, Fi will take all reasonable and commercially prudent steps to inform users of any Salary Basic Plan change.
Fi has the right to discontinue the Fi Salary Program for specific users. Especially users whose accounts get flagged for fraudulent activity or other reasons.
Fi, at its discretion, maintains the right to unilaterally vary the terms or cancel the Fi Salary Program and change the eligibility criteria (with or without notice). Any change (including a unilateral change) in terms of the salary account program would not make Fi or its partner bank liable for any (i) lost profits, (ii) loss of goodwill, or (iii) any special, indirect, incidental, punitive, or consequential damages of any kind whatsoever. However, Fi will take all reasonable and commercially prudent steps to inform users of any change in the salary account program.