Program hub
Federal Bank Reward Points
Celesta's currency — ₹0.25/point on the Federal Rewards portal (catalogue/vouchers), no airline or hotel transfer partners. A closed loop; you hold Celesta for the free international lounge visits and 2% forex, not the points. Floor is the thinner cashback/voucher rate.
₹0.15
Floor
₹0.25
House value / point
₹0.25
Ceiling
—
Trend
Nerf risk: stable No tracker events on record for this program
Expiry: 3 years from accrual
Floor = the worst redemption you can always fall back on; ceiling = the best sweet-spot exit. The house value is what a disciplined traveller actually clears.
Every way in
Cards that earn it
What a point has been worth
Derived only from quantified, dated events in the tracker — no interpolation, no vibes.
- 10 Jul 2026 ₹0.25 current house value
- 1 Oct 2022 ₹0.25 program / anchor-card (Celesta) coverage start — no recorded movement while indexed
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