PNB FD Credit Card: Learn About its Features and Benefits

Punjab National Bank, popularly known as PNB Bank, offers secured credit cards to their customers who cannot fulfil the eligibility and conditions for a regular credit card. This makes it easier for more people to enjoy credit card benefits like complimentary lounge access, frequent reward points, and avail facilities like cash advances without worrying about having a bad credit score. 

The PNB FD credit card is specifically designed for individuals with insufficient credit history or no steady source of income, allowing them to enjoy various credit card benefits while using their Fixed Deposit as collateral. In this blog, we have summarised the different benefits of a PNB secured credit card so you can decide if it is suitable for you.

Features of PNB Credit Card Against Fixed Deposit

If you are a beginner and looking for a credit card, you can apply for a PNB FD credit card as it ensures the following aspects:

• A hassle-free application process, completed in just a few clicks through the PNB One mobile app.
• Zero documentation needs.
• Affordable FD amount.
• The applicant is not required to provide any income proof.
• This credit card helps build your credit history. 

PNB FD-Backed Credit Card Eligibility

To be eligible for a credit card against FD, you should open a fixed deposit account in Punjab National Bank with a minimum balance of ₹13,000. The maximum balance of your FDs is capped at ₹5 Lakhs. Upon availing a credit card, you can enjoy a spending limit of up to 80% of the combined principal amount of all your PNB FDs. Additionally, the age of all secured credit card applicants must fall between 18-75 years. 

Typically, the PNB provides three different types of credit cards against fixed deposit investments:

• PNB RuPay Platinum (via RuPay platform)
• PNB Classic (via VISA platform)
• PNB Gold (via VISA platform)

For related details, you can forward your doubts by calling their toll-free helpline number 1800 180 2345 or visiting your nearest PNB branch. 

How to Apply for a PNB FD Credit Card?

Before applying for a PNB-secured credit card, consider downloading the PNB One app. After completing this action, follow the steps given below:

Step 1: Log in to your PNB One account by entering the valid credentials. 

Step 2: Choose the option marked as ‘Credit Card as FD’.

Step 3: Choose the FD(s) against which you wish to claim an instant credit card. While doing this, please note that the lien will be applicable on each of your selected fixed deposits. 

Step 4: After you specify the fixed deposit account(s), you can verify your credit card limit and proceed to the next step. 

Step 5: Choose a credit card variant.

Step 6: Provide an email ID and specify the name to be mentioned on the credit card. If you choose a RuPay credit card, kindly mention the nomination details. 

Step 7: Provide the necessary information according to the card variant selected. 

Step 8: Enter OTP and your application will be submitted successfully. Finally, you can view your instant credit card on your device screen. 

Alternatively, you can easily get an FD-backed credit card from the comfort of your home with minimal documentation through Stable Money. For more details, simply install our mobile app.

Fees and Charges Associated With a PNB FD Credit Card

Some of the important fees and charges linked with a PNB FD-backed credit card are given below:

Note: Although it is easier to avail an FD-backed credit card, you should remain careful while using the credit balance. Failure to pay your credit card bills timely will further deteriorate your credit history. 

Benefits of Getting a PNB FD Credit Card

Given below are some most sought-after benefits of owning a credit card against fixed deposits:

• Students, who do not have a steady source of income, can opt for a PNB FD credit card by opening a fixed deposit.
• Individuals with bad credit scores can avail the card, provided they already have a fixed deposit in Punjab National Bank.
• Customers do not have to submit any IT return statements while applying for these cards. 
• There is no need to undergo a tedious documentation procedure as the bank already has an idea about their customer. 
• Customers can enjoy longer interest-free periods with FD-backed credit cards as compared to regular credit cards. 
• Finally, your outstanding credit card payments can be deducted conveniently from your PNB FD balance.

If you are looking to build long-term wealth, then you can proceed to book a fixed deposit on Stable Money. Our customers get the opportunity to secure annual returns of up to 9.10%, compared to the 7.30% offered by PNB over a 5-year period. Moreover, you are not required to open any regular savings bank account to enjoy FD returns from the partners of Stable Money.