PNB RuPay Millennial Credit Card – Benefits, Fees & Eligibility

PNB RuPay Millennial Card

Introduction

The PNB RuPay Millennial Card is specifically designed for the mid-segment customer base, primarily targeting the young generation with features that cater to their health-conscious and shopping-oriented lifestyles. This youth-centric credit card offers a range of lucrative benefits, including complimentary gym memberships, premium health check-up packages, and attractive reward points on both retail and online transactions. With a joining fee of Rs. 399, it also extends complimentary travel benefits such as domestic and international lounge access, alongside golf and spa sessions, positioning it as an entry-level card rich in lifestyle perks.

Welcome Benefits

• Earn 300 bonus reward points on the first swipe of the card within 90 days of issuance for retail/online transactions.
• Receive 300+ reward points upon card activation.
• Get 2x reward points on retail merchandise/online transactions performed within 90 days of receiving the card (this benefit excludes fuel and cash withdrawal transactions).

Fees

• Joining Fee: Rs. 399 (plus GST as applicable).
• ADD-ON Card Fee: Rs. 399.
• Annual Fee: Rs. 999 per annum (plus GST as applicable).
• Annual Fee Waiver: The annual fee is waived if the total annual spends on the card exceed Rs. 1 Lakh during the previous financial year.
• No annual charges are applied for ADD-ON Cards.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.50% on the converted amount for international transactions.
• Interest Rates: 2.95% per month (equivalent to 35.89% per annum).
• Fuel Surcharge:
  • Receive a 1% fuel surcharge waiver at all petrol pumps across India.
  • Applicable on transactions between Rs. 500 and Rs. 3,000.
  • The maximum fuel surcharge waiver allowed in a calendar year is capped at Rs. 350.
• Cash Advance Charges:
  • 2% of the advance amount (with a minimum of Rs. 150) for transactions at PNB ATMs.
  • 2% of the advance amount (with a minimum of Rs. 200) for transactions at other domestic ATMs.
  • 2% of the advance amount (with a minimum of Rs. 300) for transactions at overseas ATMs.

Rewards

• General Reward Rate: Earn 2 reward points for every Rs. 150 spent on the card.
• E-bill Registration Bonus: Get an additional 50 bonus reward points upon registering for the E-bill facility.
• Lifestyle Benefits:
  • Complimentary gym membership.
  • Access to a premium health check-up package.
  • Complimentary spa sessions.
  • Complimentary golf sessions.
• Travel & Lounge Access:
  • Domestic Lounge Access: Enjoy 2 complimentary domestic lounge accesses per quarter.
  • International Lounge Access: Enjoy 2 complimentary international lounge accesses per year.
• Insurance Benefits: Comprehensive insurance coverage up to Rs. 10 Lakhs.
• Best Suited For: Shopping.
• Movie & Dining: This card does not offer any specific benefits on movies and dining.

Rewards Redemption Guide

• Accumulated reward points can be redeemed against a variety of options including movie tickets, hotel bookings, mobile/DTH recharge, and merchandise transactions.
• A minimum balance of 500 reward points is required to initiate a redemption.
• The value of 1 Reward Point is Rs. 0.25.
• Reward points have a validity of 3 years from the date of accrual.

Card Eligibility Criteria

• Educational Qualification: Applicants must be literate (able to read & write).
• Age:
  • Minimum Age for Primary Applicant: 21 Years.
  • Minimum Age for ADD-ON Card Holder: 18 Years.
  • Maximum Age: 65 Years.
  • For cards issued against a Fixed Deposit (FDR), the minimum age is 18 years, and there is no maximum age limit.
• Income Criteria: Applicants must have a minimum Gross Annual Income of Rs. 5 Lakhs.

Card Review

The PNB RuPay Millennial Card is an excellent choice for individuals aged 21-65 with a minimum annual income of Rs. 5 Lakhs, making it highly competitive within its category. It stands out by offering a rewarding experience with 2 reward points for every Rs. 150 spent. The renewal fee waiver for spending Rs. 1 Lakh annually is a significant advantage, making the card cost-effective for regular users. Its comprehensive benefits package includes valuable lifestyle perks such as complimentary gym memberships, spa and golf sessions, a premium health check-up package, and a substantial insurance cover of up to Rs. 10 Lakhs. The inclusion of both domestic and international lounge access further enhances its appeal for frequent travelers. With a flexible redemption program that allows points to be exchanged for movie tickets, hotel bookings, and more at a rate of Rs. 0.25 per point, this card provides clear and accessible value. Overall, the PNB RuPay Millennial Card is a strong contender for millennials and young professionals seeking a credit card that effectively blends spending rewards with extensive lifestyle and travel privileges.

Important Product Details

• Initial joining fee of Rs. 399.
• Offers comprehensive insurance coverage up to Rs. 10 Lakhs.
• Includes access to domestic and international lounge programs.
• Provides a premium health check-up package.
• Features complimentary golf and spa sessions.
• Grants complimentary gym membership.
• Receive 300+ bonus reward points on activation or on the first swipe within 90 days for retail/online transactions.
• Earn 2x reward points on retail merchandise/online transactions within 90 days of card issuance (excluding cash withdrawal & fuel expenses).
• Standard earning of 2 reward points for every Rs. 150 spent.
• An additional 50 bonus reward points are awarded upon registering for the E-bill facility.
• Each reward point holds a value of Rs. 0.25.
• The annual renewal fee of Rs. 999 is waived upon achieving annual spends of Rs. 1 Lakh in the preceding year.
• Does not offer specific movie and dining benefits.
• Provides a 1% fuel surcharge waiver on transactions between Rs. 500 - Rs. 3,000, capped at Rs. 350 per calendar year.

Other Details

• Target Segment: Customers of the Mid Segment, primarily the Young Generation.
• Positioned As: A Youth Credit Card equipped with lucrative features designed to attract young generations.
• Card Limits (Regular): Minimum of Rs. 50,000/- and Maximum of Rs. 10,00,000/-.
• Card Limits (Against FDR): Up to a maximum of 80% of the Fixed Deposit (FDR) value. The FDR itself must be a minimum of Rs. 65,000/-.
• Reward Type: Reward Points.
• Card Rating: 4.5/5.