PNB Turns into First Public Sector Financial institution To Launch Credit score Playing cards For FDs | Popgen Tech

Punjab Nationwide Financial institution has turn into India’s first public sector financial institution to launch bank cards for its fastened deposit prospects. The financial institution knowledgeable its prospects by way of a tweet, “Having an FD is simply cool. Get lounge entry, thrilling reward factors, money advances and far more with a Credit score Card towards Fastened Deposits! “

Obtain your RuPay or VISA bank card on-line in trade for a number of FDs with a credit score restrict of 80%, relying on the lender.

Benefits of PNB bank card over fastened deposits (FD)

1) No paperwork

2) No department go to

3) Zero becoming a member of prices

4) On the spot issuance of a digital bank card

5) Full Insurance coverage Safety (on RuPay variant)

6) UPI Hyperlink on RuPay Credit score Card Advantages

7) Thrilling prizes and promotions

The PNB raised the rate of interest on fastened deposits in all mandates by 50 foundation factors to draw extra deposits. In keeping with PNB, rates of interest for time period deposits beneath Rs 2 crore held for one to a few years have been elevated by 50 foundation factors to six.75 per cent from 6.25 per cent earlier. In keeping with the assertion, the speed on PNB’s Uttam Scheme, which doesn’t provide a untimely withdrawal possibility, has elevated from 6.30 to six.80 p.c.

Along with the up to date rates of interest, the financial institution will proceed to supply fastened deposit phrases of 666 days with an annual rate of interest of 8.1 p.c, based on the assertion. As a way to have a good time the brand new 12 months with its prospects, the Punjab Nationwide Financial institution (PNB) has raised the rates of interest on financial savings accounts and glued deposit accounts of lower than 2 Cr. The brand new charges have been in impact since January 1, 2023, based on the financial institution’s official web site. PNB has elevated the rate of interest on financial savings accounts on account of the change by 25 foundation factors, whereas fastened deposit prospects will expertise a rise of as much as 50 foundation factors throughout a spread of tenors .

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