Instant Credit Card with PNB’s Fixed Deposit – No Branch Visit Required!

Punjab National Bank (PNB), a Public Sector bank, is offering credit cards to customers who do not meet the eligibility criteria for regular credit cards. This service is available to salary account customers and can be applied for through the bank’s mobile banking app, PNB One, website, or internet banking service.

Additionally, customers can avail of the it without visiting a bank branch, and there is a 0.25% concession on the interest rate when applied through digital platforms like PNB One.

Eligible customers can get a RuPay or VISA credit card against single or multiple fixed deposits with 80% credit limit. This credit card also has benefits such as no document submission, no branch visit, nil joining fees, instant issuance of virtual credit card, lounge access, comprehensive insurance coverage (on RuPay variant), benefits of UPI linkage on RuPay Credit Card, and exciting reward points and offers.

Additionally, in order to attract deposits, PNB has increased the interest rate of fixed deposits across various tenures by 50 basis points, effective from January 1, 2023.

For example, interest rates on term deposits below ₹2 crore between one year and three years have been raised to 6.75% from 6.25%. Senior citizens will also receive an additional 50 basis points hike in interest rate of fixed deposits on any domestic deposit maturities which is worth less than ₹2 crore.

On PNB Uttam Scheme with no premature withdrawal option, the rate has been revised to 6.80% from 6.30%. The bank will also continue to offer attractive interest rates of 8.1% per annum for fixed deposit of 666 days.