Federal Bank has waived surcharge on petrol purchases for all its debit card holders. The offer is available on purchase of fuel from any petrol pump in any city across the country. At present, fuel purchases from the pumps using debit/credit cards attract 2.5 per cent surcharge.
With this waiver, the bank expects the fuel spends through Federal Bank debit cards to go up by 50 per cent. Fuel spend is among the top five categories of products and services purchased through Federal Bank debit cards, which includes apparel, FMCG and hospitality.
The zero per cent surcharge is applicable during the period from October 1 to March 31, a bank press release said.