First Public Sector Bank To Launch Credit Card Against FD: Key Benefits

Leading state-owned commercial bank, Punjab National Bank (PNB) has emerged as the first public sector bank that has launched credit card against Fixed Deposits digitally. According to the PSU bank, now you will be able to get your RuPay or VISA Credit Card digitally against single or multiple FDs with credit limit of 80%.

The bank took to its Twitter handle and shared, "Having an FD just got cool. Get lounge access, exciting reward points, cash advance and much more with Credit Card against Fixed Deposits! For more info, connect with us on: 0120-4616200, 1800 180 2345."

Key Benefits: You can avail several benefits of the new feature given below:
There will be no document submission and no branch visit either. There is "NIL joining fees" and citizens can avail instant issuance of virtual credit card. There is comprehensive insurance coverage (on RuPay variant). There is a benefit of UPI linkage on RuPay Credit Card. Users will be able to get exciting reward points and offers.

Latest FD Interest Rates

Domestic/NRO FD Scheme: Meanwhile, the bank is also offering attractive FD interest rates to its customers. The bank is offering a maximum interest rate of 8.05% for 666 days tenor to super senior citizens with effect from January 1, 2023 on domestic term deposits below Rs 2 crore. Regular citizens can get avail the maximum interest rate of 7.25% for 666 days FD and senior citizens can get 7.75% interest rate for FDs maturing in 666 days.

PNB Uttam FD Scheme: The bank is offering higher interest rates under PNB Uttam (non-callable) FD scheme (for deposits above Rs 15 lakh.) Super senior citizens can fetch the maximum 8.10% interest rate under PNB Uttam for 666 days FD. Regular citizens can get 7.30% interest rate on 666 days FD and senior citizens can fetch 7.80% interest rate on FDs maturing in 666 Days.