Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • PNB Credit Cards Against Fixed Deposit

    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.


    Benefits of credit cards against Fixed Deposit

    Listed below are the various benefits of credit cards against Fixed Deposit:

    • Students without steady incomes but a Fixed Deposit with PNB can obtain credit cards against their FDs.
    • Customers with bad credit scores can apply for credit cards against FD.
    • Zero joining fees or annual fees charged for credit cards against FD.
    • You need not provide income proof or IT return statements.
    • If you have a bad credit history, with credit cards against FD, you can build a better credit history. However, failure to make regular credit card bill payments will negatively affect your credit history.
    • You can avoid tedious application and documentation process in the case of credit cards against FD as you already have a relationship with the bank with regards to your PNB Fixed Deposit account.
    • Interest-free period is higher for credit cards against Fixed Deposit in comparison to regular credit cards.
    • Outstanding credit card payments will be deducted from your FD account balance.

    Fees and charges for PNB 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    Finance charge on revolving credit, cash withdrawn, and amount overdue 1.5% per month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.

    Other Top Credit Cards By PNB Bank

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