Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Punjab National Bank offers credit cards against Fixed Deposit to customers who don’t meet the eligibility criteria for regular credit cards. Customers with a bad credit score or credit history and no steady income can also enjoy the benefits of owning a credit card. Apply for credit cards against your Fixed Deposit account in Punjab National Bank. You must maintain a required balance in the FD account. Same goes for FD term.
Listed below are the various benefits of credit cards against Fixed Deposit:
Listed below are the various fees and charges applicable to PNB credit cards against Fixed Deposit:
| Type of Fee/ Charge | Interest Amount |
|---|---|
| Rate of interest | 1.5% per month 19.56% p.a. |
| Over-limit charge | 2.5% of the over-limit amount, subject to a minimum of Rs.250 |
| Annual fee/joining fee | Nil |
| Finance charge on revolving credit, cash withdrawn, and amount overdue | 1.5% per month |
| Annualised percentage rate (APR) on revolving credit | 19.56% p.a. |
| Late payment fee | 30% of minimum amount, subject to minimum of Rs.200 and maximum of Rs.500 per statement cycle |
| Charges for over the credit limit usage | 2.5% or minimum Rs.250 |
| Return of cheque fee | Rs.100 per instrument |
| Duplicate statement | Rs.20 |
| Card replacement fee | Rs.100 per card |
| Pin replacement fee | Rs.50 per card |
| Custom duty, airport tax or excess baggage charge | 2.25% of transaction amount, subject to a minimum of Rs.75 |
| Cash advance limit | 40% of the credit limit |
| Prepayment charge | Nil |
Though credit card against Fixed Deposit is easily available, you should be careful with the spending limit on your card. Similarly, failure to pay credit card bills on time can further affect your credit history. As outstanding dues will be deducted from your FD balance, when you withdraw from your FD at the end of the term, you will not have much money left. Use your credit card against PNB FD to improve your credit history by paying the credit card bills on time.
The interest rate for PNB Credit Cards Against Fixed Deposit is 19.56%.
You get a cash advance limit of 40% of the credit limit.
Yes, 30% of minimum amount, subject to minimum of Rs.200 and maximum of Rs.500 per statement cycle
Zero joining fees or annual fees charged for credit cards against FD.
Students without steady incomes but a Fixed Deposit with PNB can obtain credit cards against their FDs.
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