PNB RuPay Millennial Credit Card – Benefits, Fees & Eligibility

Introduction

• The PNB RuPay Millennial Credit Card is issued by Punjab National Bank (PNB) and is positioned as an entry-level credit card tailored for the young generation and mid-segment customers.
• It stands out with comprehensive insurance coverage up to Rs. 10 lakhs, complimentary domestic and international lounge access, and lifestyle perks such as gym membership, premium health check-ups, and golf/spa sessions, making it a feature-rich card for health-conscious and active millennials.

Welcome Benefits

• 300 bonus reward points on swiping the card for the first time within 90 days of issuance for retail/online transactions.
• 2x reward points on retail merchandise and online transactions within 90 days of card issuance (excludes fuel and cash withdrawal transactions).
• 50 extra bonus reward points on registering for the E-bill facility.

Fees

• Joining Fee: Rs. 399 + GST.
• ADD-ON Card Fee: Rs. 399 + GST per add-on card.
• Annual Fee: Rs. 999 + GST per annum.
  • Spend-Based Waiver: Annual fee is waived if the cardholder spends Rs. 1 lakh on the card in the previous financial year.
  • No annual charges for ADD-ON cards.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.50% on the conversion amount.
• Interest Rates: 2.95% per month (35.89% per annum).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all petrol pumps in India on transactions between Rs. 500 - Rs. 3,000, with a maximum annual cap of Rs. 350.
• Cash Advance Charges:
  • 2% of the advance amount (minimum Rs. 150) on PNB ATMs.
  • 2% of the advance amount (minimum Rs. 200) on other domestic ATMs.
  • 2% of the advance amount (minimum Rs. 300) on overseas ATMs.

Rewards

Rewards Rate

• Earn 2 reward points for every Rs. 150 spent on the card.
• Additional 50 bonus reward points on registering for the E-bill facility.

Movie & Dining

• No movie or dining benefits are provided with this card.

Travel Benefits

• Complimentary lounge access program included.
• Domestic Lounge Access: 2 complimentary accesses per quarter.
• International Lounge Access: 2 complimentary accesses per year.

Golf

• Complimentary golf sessions are included.

Insurance Benefits

• Comprehensive insurance coverage up to Rs. 10 lakhs.

Lifestyle Benefits

• Complimentary gym membership.
• Premium health check-up package.
• Complimentary spa sessions.

Reward Redemption Guide

• Reward points can be redeemed for movie tickets, hotel bookings, mobile/DTH recharge, merchandise transactions, and more.
• Minimum redemption threshold: 500 reward points.
• Value: 1 Reward Point = Rs. 0.25.
• Validity: Reward points are valid for 3 years from the date of accrual.

Card Eligibility Criteria

• Educational Qualification: Applicants must be literate (able to read and write).
• Age Criteria:
  • Primary Applicant: Minimum 21 years, Maximum 65 years.
  • ADD-ON Card Holder: Minimum 18 years (no maximum age limit for cardholders issued against FDR).
• Income Criteria: Minimum gross annual income of Rs. 5 lakhs.
• Card Limits:
  • Regular Card: Minimum limit Rs. 50,000, Maximum limit Rs. 10,00,000.
  • Against FDR: Maximum limit up to 80% of FDR, with FDR minimum at Rs. 65,000.

Card Review

• Who Should Apply:
  • Millennials and young professionals aged 21-65 with a minimum annual income of Rs. 5 lakhs.
  • Individuals seeking an entry-level card with strong lifestyle, travel, and insurance benefits.
• Pros:
  • Comprehensive insurance coverage up to Rs. 10 lakhs.
  • Complimentary domestic and international lounge access.
  • Valuable lifestyle perks (gym, spa, health check-ups, golf).
  • Attractive reward point structure with achievable spend thresholds.
  • Annual fee waiver on Rs. 1 lakh yearly spend.
• Cons:
  • No movie or dining benefits.
  • Foreign currency markup and cash advance fees are standard but add cost for international or cash-heavy usage.
• Value: A well-rounded entry-level card that offers above-average lifestyle and travel benefits for its fee bracket, making it a strong choice for active, health-conscious spenders.

Important Product Details

• Positive Highlights:
  • 300 welcome bonus points on first swipe within 90 days.
  • 2x reward points on retail/online transactions for the first 90 days.
  • 2 reward points per Rs. 150 spent.
  • Comprehensive insurance cover up to Rs. 10 lakhs.
  • Complimentary domestic (2/quarter) and international (2/year) lounge access.
  • Complimentary gym, spa, and premium health check-up package.
  • Complimentary golf sessions.
  • Fuel surcharge waiver of 1% (capped at Rs. 350/year).
  • Annual fee waiver on Rs. 1 lakh annual spend.
• Negative Highlights:
  • No movie or dining benefits.
  • Foreign currency markup of 3.50%.
  • Cash advance fees apply with varying minimums.
  • Interest rate of 2.95% per month (35.89% per annum).

Other Details

• The card is ranked highest under the Select credit card category for its reward potential and lounge access benefits compared to similar offerings.
• Reward redemption benefits may be updated periodically by the bank.
• Terms and conditions apply to all benefits, fees, and eligibility criteria; specific conditions are summarized within relevant sections above.