PNB RuPay Select Credit Card – Benefits, Fees & Eligibility

PNB RuPay Select Credit Card

Introduction

The PNB RuPay Select Credit Card is a popular basic credit card issued by Punjab National Bank, designed to offer a pocket-friendly option for daily spends. It comes with a joining fee of ₹500 and rewards new cardholders with 300 bonus Reward Points upon first usage. While it carries an annual fee of ₹750 from the second year, this fee can be easily waived by making at least one retail transaction per quarter, effectively making the card potentially lifetime free. Cardholders earn 2 Reward Points (where 1 Reward Point equals ₹0.25) for every ₹150 spent on retail merchandise, with accelerated 2X rewards on retail and online transactions within the first 90 days of card membership. The card also enhances travel experiences with complimentary domestic and international airport lounge access and provides comprehensive insurance coverage, fuel surcharge waiver, and exclusive cashback offers on dining and utility bills. It also offers 24/7 concierge services and access to over 300 merchant offers.

Welcome Benefits

• Receive 300 bonus Reward Points on making your first transaction within the first 90 days from card issuance.
• Earn 2X Reward Points on all merchandise/online purchases made within the first 90 days after the card activation date.
• Get 50 bonus Reward Points on registration for the e-bill facility.

Fees

• Joining Fee: ₹500 + GST (for the first year only).
• Renewal Fee: ₹750 + GST (from the second year onwards).
• Spend-Based Waiver: The annual fee of ₹750 can be waived off if the card is used at least once every quarter during the previous anniversary year.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% on all foreign currency transactions.
• Interest Rates: 2.95% per month.
• Fuel Surcharge: 1% fuel surcharge waiver on fuel transactions between ₹500 and ₹3,000. The maximum fuel surcharge waiver is capped at ₹250 per billing cycle.
• Cash Advance Charges:
  • PNB Domestic ATMs: 2% of the withdrawn amount or a minimum of ₹150.
  • Other Domestic ATMs: 2% of the withdrawn amount or a minimum of ₹200.
  • Overseas ATMs: 2% of the withdrawn amount or a minimum of ₹250.

Rewards

• Rewards Rate: Earn 2 Reward Points for every ₹150 spent on retail purchases.
• Accelerated Rewards: Get 2x Reward Points on all merchandise/online transactions within the first 90 days of card membership.
• Movies & Dining: Exclusive cashback offers on dining across several participating restaurants.
• Travel: Complimentary airport lounge access.
• Domestic Lounge Access: Enjoy 2 complimentary domestic airport lounge accesses every quarter (total 8 per year).
• International Lounge Access: Get 4 complimentary international airport lounge accesses.
• Insurance: Complimentary insurance cover worth ₹10 lakhs against accidental death or total personal disability.
• Fuel Benefits: 1% fuel surcharge waiver on fuel transactions between ₹500 and ₹3,000, capped at ₹250 per billing cycle.
• Utility Bills & Eateries: Exclusive cashback offers.
• Merchant Offers: Access to 300+ merchant offers.
• Exclusions: No Reward Points are earned on fuel purchases, cash withdrawals, or jewelry purchases.
• Validity: Earned Reward Points are valid for three years from the date of accrual.

Rewards Redemption Guide

• Reward Points can be redeemed by logging into the PNB Rewardz portal.
• The value of 1 Reward Point is ₹0.25.
• Points can be redeemed against various products, hotel bookings, mobile/DTH recharges, and other categories available on the PNB Rewardz portal.
• A minimum of 500 Reward Points is required for redemption.

Card Eligibility Criteria

• Age of Primary Cardholder: 21 years to 65 years.
• Age of Supplementary Cardholder: 18 years to 65 years.
• Income: The applicant should have a stable source of income.

Documents Required

• Any valid government-issued card as proof of identity and address.
• Copy of PAN Card.
• A passport-size photograph.
• For Salaried Individuals: The latest 3 months’ salary slips as income proof.
• For Self-Employed Individuals: Latest Income Tax Return (ITR) as income proof.

Card Review

The PNB RuPay Select Credit Card is an excellent choice for individuals seeking a cost-effective credit card to maximize savings on their expenditures. Its most appealing feature is the ability to waive the annual fee from the second year onwards simply by performing one transaction per quarter, making it potentially lifetime free. The card offers a decent reward rate of 2 Reward Points for every ₹150 spent on retail, along with accelerated rewards for initial spends. Travel benefits, including complimentary domestic and international lounge access, add significant value. While the card offers comprehensive insurance and fuel surcharge waivers, it's important to note that certain categories like fuel, cash withdrawals, and jewelry purchases do not earn reward points, and points have a three-year validity period. This card is well-suited for everyday shopping and offers good value for those who can easily meet the annual fee waiver condition. For those who frequently shop at Patanjali, the co-branded PNB RuPay Select Patanjali Credit Card might offer additional cashbacks, but for general use, the standard PNB RuPay Select Credit Card remains a strong contender.

Important Product Details

• Welcome benefit of 300 bonus Reward Points.
• Earn 2 Reward Points on every spend of ₹150.
• Receive 2x Reward Points on all merchandise/online transactions within the first 90 days.
• Get 50 bonus Reward Points on registration for the e-bill facility.
• Complimentary domestic and international airport lounge access.
• Complimentary insurance cover worth ₹10 lakhs against accidental death or total personal disability.
• Spend-based waiver of the annual membership fee by using the card at least once every quarter.
• 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000, capped at ₹250 per billing cycle.
• Exclusive cashback offers in utility bills, eateries, and restaurants.
• No Reward Points on fuel purchases, cash withdrawals, or jewelry purchases.
• Reward Points are valid for three years from the date of accrual.
• Joining fee of ₹500 + GST and renewal fee of ₹750 + GST.
• Interest rate of 2.95% per month.
• Foreign currency markup of 3.5%.

Other Details

• Best Suited For: Shopping.
• Credit Limit: Can be up to ₹10 lakhs, with a probable minimum limit of ₹50,000 for some cardholders. The limit varies based on individual past payment behavior and income, with an option to apply for a higher credit limit.
• Mobile App: Convenient mobile app "PNB GENIE" is available as a one-stop solution for card management.
• Concierge Services: Available 24/7.
• How to Apply:
  • Visit your nearest Punjab National Bank branch with all required documents, obtain and fill out the physical application form, and submit it along with the documents.
  • Alternatively, download the application form from the official PNB Cards website, print it, fill in all details, and then submit it at your nearest branch with the necessary documents.
• Card Rating: 4.5/5.