PNB Offer Pre-Qualified Credit Card Facility, Know Who Can Apply

The pre-qualified credit card from the publicly traded Punjab National Bank (PNB) includes a number of benefits, including insurance protection. Additionally, it has added a new feature that enables quick overdrafts on fixed deposits on PNB One with just one OTP (one-time password).

Customers with salary accounts will have access to the pre-qualified credit card facility. According to a release, they would be able to apply via the website, Internet Banking Service (IBS), or the mobile banking app PNB One. The bank will make this service available through the RuPay and Visa payment gateways.

Customers may apply for loans without going to a bank branch, the company claimed, and applications made through online services like PNB One qualify for a 0.25 percent interest rate discount.

Atul Kumar Goel, managing director and chief executive officer of PNB, stated, “I am pleased to announce yet another step towards enabling quick and hassle-free services as we progress towards developing a digitally sound financial environment. The application process for PNB’s new pre-qualified credit card service is entirely digital, consent-based, and paperless.”

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Goel added that customers can quickly and easily access a variety of appealing features of the card, including higher credit limits, exciting reward points, comprehensive insurance coverage, complimentary domestic and international lounge access, health checks, complimentary golf, spa, and gym sessions, and more, based on the information they enter. “I am really hopeful with both the products as they correctly target the demands of the general public. I am particularly happy about the introduction of the Overdraft facility against Fixed Deposit on PNB One as it adds to our digital offerings.”

The interest rate on fixed deposits that mature in a year has increased by 20 basis points to 5.50 percent, up from the previous rate of 5.30 percent. The PNB FD rates were increased by 5 bps to 5.50 percent for deposits with terms of over a year and up to two years. Interest rates on PNB FDs have increased by 10 basis points to 5.60 percent for deposits with maturities of two years and up to three years. Interest rates on fixed deposits maturing in more than five years and up to ten years have raised by 5 basis points to 5.65 percent at PNB. The Punjab National Bank has not modified any other rates.

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I Varsha Chhirolya having an experience in digital marketing of 5 years, I am an account manager in CREATIVE Ad Agency.

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