PNB Credit Card facility allows the applicants to issue a new credit card against their fixed deposit scheme if they fail to meet the requirements to get a regular or unsecured credit card.
PNB Offering Credit Cards Against FDs
“Having an FD just got cool. Get lounge access, exciting reward points, cash advance and much more with a Credit Card against Fixed Deposits!” tweeted PSU.
“PNB becomes the first public sector bank to launch credit cards against fixed deposits digitally. Get your RuPay or VISA credit card digitally against single or multiple FDs with 80% credit limit, the lender said,” mentioned by PNB.
Benefit Your New Credit Card Against FD Will Provide:
- Document submission is not required.
- No need to visit the branch.
- Joining free is zero.
- Get an instant credit card issued after approval
- On the RuPay card variant, you will get insurance coverage.
- You will get to link your RuPay Credit Card with UPI
- Lucrative reward points and offers.
Also read:
Digital Rupee Cannot be Cashed, Only Bank Account Deposits Will Get You eRupee
PNB Revised FD Rates
With an aim to increase the deposit ratio, PNB increased the interest rates on various tenures by 50bps.
As per informed by PNB with a tweet, the interest rates on the term deposits valuing below ₹2 Cr and maturing between one to three years have increased by 50 bps to 6.75 per cent from the earlier return rate of 6.25 per cent.
The bank also informed us that the modified rates of FDs are effective from January 1, 2023.
“Senior citizens will be getting an additional 50 basis points hike in the interest rate of fixed deposits on any domestic deposit maturities which is worth less than ₹2 crores,” further said.
Apart from these statements, the bank also shared that it will continue to offer an interest rate of 8.1 per cent on the FDs maturing in 666 days.
