CREDIT CARD AGAINST FD THROUGH PNBONE APP
In the current market scenario, Credit card industry is having huge growth potential. In this segment, digital banking plays a crucial role. In order to tap business, Bank has launched the Credit Card against Fixed Deposit (FD) journey digitally via Mobile Banking i.e. PNB One to its customers.
Under this module, the Bank will be issuing Credit Card to eligible Customers digitally who are having Fixed deposits maintained with our Bank through PNB One. This means that your Credit Card and your Fixed Deposit will be linked; a lien will be marked on your Fixed Deposit and 80% of the amount of the Fixed Deposit will be issued as a Credit Limit on your PNB Credit Card. This facility enables seamless onboarding for PNB Credit Card digitally anytime as per customer convenience. This journey provides customers hassle free experience in availing PNB Credit Card without any contact made to the Branch.
Features of PNB Credit Card against Fixed Deposit product areas under :
- Hassle Free few click application journey
- Zero documentation
- Affordable FD amount
- No income proof required
- Helps to build a credit history
Limit & Eligibility Criteria for issuance of credit card against FDR through Digital Mode:
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Parameter
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Limit, Eligibility Criteria and other terms of the product
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Age
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Min: - 18 Years
Max: - 75 Years
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Limit of the Credit Card
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Card Credit Limit will be set up in multiples of 1000/- on the lower side of 80% of Term Deposit amount with Min & Max limit as under: -
Min: - Rs. 10000/-
Max: - Rs. 400000/-
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Types Of Credit Card
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1. PNB Rupay Platinum (On Rupay Platform)
2. PNB Classic (On VISA Platform)
3. PNB Gold (On VISA Platform)
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Amount of FDR
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Min: - Rs. 13000/-
Max: - Rs. 500000/-
Customer can apply Credit Card against the single as well as multiple FDR’s & limit of the Credit Card will be calculated as 80% of the principal amount of the FDR/FDR’s.
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Other Term & Condition
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=> Fixed Deposit opened through offline or on-line mode in single name & mode of operation is Self are eligible. FDRs in the joint name are not eligible.
=> FDR’s open date should be minimum 30 days prior to Credit Card against FDR application applied through PNBONE.
=> FDR issued under Tax-Saver scheme & Capital Gains Scheme are not eligible. Further FFD’s & Recurring Deposits are also not eligible.
=> FDR against which Lien of partial/full amount is already marked in the system are not eligible.
=> Maximum 5 FDRs of a customer will be displayed in MBS. Selection of maximum 5 FDR’s is based on descending order (Highest First & lowest Last) of amount of FDR, starting with Highest amount of FDR.
=> Partial withdrawal will not be allowed from FD against which Credit Card is issued.
=> Any variant of Credit Card from the mentioned list can be selected by the applicant as per request / preference and subject to their eligibility. All Offline and/or Online Fixed Deposit accounts fulfilling eligibility criteria shall be available for selection on PNBONE mobile application.
=> Digital mode through MBS only
=> Only FDRs with Autorenewal Flag as ‘Yes’ will be considered under this scheme.
=> In case a Credit Card Holder fails to make payment of monthly Credit Card Dues till the expiry of 60 days of payment due date, the outstanding against the Credit Card will be liquidated by making premature encashment of Term Deposit and by appropriating the proceeds towards repayment of Credit Card dues.
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Registration Process:
One Can Easily Apply for Credit Card against FD through PNB ONE by following below mentioned steps:
- Login to PNB ONE App.
- Click on ‘Credit Card against FD’ Icon
- Select FD(s) from the list of FDs shown against which credit card is required. Please note that Lien will be marked on all selected FD(s).
- Once FD(s) are selected, credit card sanctioned limit will be calculated and displayed on screen. Proceed further.
- Select Card Variant.
- Enter Email ID and Preferred Name on Card. Fill details of nomination in case RUPAY credit card required.
- Fill relevant details as per Card variant selected and proceed. Enter OTP.
- Application successfully submitted. Virtual Card with variant displayed immediately on screen.
Grievance Redressal:
In the rare event of not being satisfied with the response from any of the recent contacts with the Bank, you can contact us between specified working hours as under:
Davinder Kumar,
Contact:
0120-4616200
Grievance Redressal Cell,
Punjab National Bank,
Credit Card Processing Centre,
Credit Card Division,
C-24, Block-C, Ground Floor
Sector-58, Noida-UP-201301
E-mail: creditcardpnb[at]pnb[dot]co[dot]in.
Complete postal address of card issuing Bank:
Punjab National Bank,
Credit Card Processing Centre,
C-24, Block-C, Ground Floor
Sector-58, Noida-UP-201301
Toll free number for customer care service:
The cardholder can contact toll free number 1800 180 2345 or such other telephone numbers as may be notified by PNB from time to time
For More Details, Please Contact Your Nearest PNB Branch.
FAQs:-
1. What are the pre-requisites for applying Credit Card against FD?
- Individual FD account in PNB
- Smart Phone with or above Android version 5.1.0 and iOS version of 9 & above
- PNBONE Mobile App
- Mobile Number registered with Bank
2. I want other than card variants shown as option to me in application journey, what should I do?
Credit Card variant shown are the highest variant entitlement based on various criteria on individual basis. Change in variant is not allowed within the journey.
3. My Personal detail(s) shown in PNBONE is/are not correct, what should I do?
Personal or Demographic details needs to be change in CBS through branch which will auto reflect in application journey. Please contact your branch to update details in CBS.
4. When can I receive Credit Card?
Turnaround Time for Physical card delivery post application sanctioning is 7-10 working days.
5. Can I liquidate my FDs against which Credit Card has been issued?
FD can be liquidated with a request to Credit Card Team. Subsequently Credit Card account will be closed and cannot be used further. In case a Credit Card Holder fails to make payment of monthly Credit Card Dues till the expiry of 60 days of payment due date, the outstanding against the Credit Card will be liquidated by making premature encashment of Term Deposit and by appropriating the proceeds towards repayment of Credit Card dues.
6. Can I apply for Add on Card through’ Credit card against FD’ application journey?
However you can apply for Add on Card through existing Process. Please visit www.pnbcard.in website for more details.
7. Will Lien be marked on my all FD(s)?
Lien will be marked on all SELECTED Fixed deposits in application journey.
8. My PNBONE app is having some issue, what should I do?
Please contact PNBONE (Mobile Banking Team) of the Bank.
9. I have other than above mentioned issues, what should I do?
Kindly reach us to https://pnbcard.in/reachus.html
10. Where do I get Credit Card Most Important Terms and Conditions (MITC)?
https://pnbcard.in/PDF/MITC.PDF
11. Can I use my Credit Card against FD to withdraw cash at ATMs?
You can withdraw cash from ATMs as per current norms. Please visit www.pnbcard.in for getting more information.
12. What is the minimum FD amount for a credit card?
Minimum FD amount for a Credit Card is Rs. 13000/-.
13. What is the maximum FD amount for a credit card?
Maximum FD amount for a Credit Card is Rs. 5,00,000/-.
14. What is the Minimum tenure of FD for getting a Credit Card?
Credit Card against FD will be available on FDs opened with minimum tenure of 30 days
15. Can I get Credit Card with sanction limit more than 5lakhs through PNBONE?
Need to apply through Branch as per existing process.