About Punjab National Bank
Punjab National Bank (PNB) is a nationalized Indian bank with branches all over the world. Currently it is based in New Delhi and boasts a huge customer base of over 80 million people all over the country. It commenced its operations in 1894 after it got registered in Lahore that was a part of India at that point in time. It enjoys the reputation of being the first ever Indian bank that was started solely with Indian capital and is still operational. Since the commencement of its operations over a century back, Punjab National Bank has expanded to over seven hundred and sixty four cities with over 6937 branches.
Punjab National Bank is deeply associated with the Indian History as it held the accounts of the Jaliianwala Bagh Committee and has had the honor of maintaining accounts of National Leaders such as Indira Gandhi, Mahatma Gandhi and Lal Bahadur Shastri.
Talking about the bank’s international operations, Punjab National Bank has a banking subsidiary in the United Kingdom called the PNB International Bank and has 7 international branches in the UK. It also has branches in some of the other major cities worldwide including Hong Kong, Dubai and Kabul. Moreover, PNB also has representative offices in United Arab Emirates, China, Norway and Australia.
Punjab National Bank Financial Services
Like any other nationalized bank in India, Punjab National Bank offers a variety of financial services ranging from savings and current accounts to loans and credit cards. This leading Indian bank is involved in giving out various loans such as home loans, personal loans, corporate loans etc. PNB also offers credit card services to its customers. One of its popular credit card offerings is the PNB Global Platinum Credit Card.
Is credit card a risky thing to have?
A lot of people have the notion that a credit card makes one more susceptible to debts and excess expenditure and this often leads to the disbalance of a person’s financial resources. This however is not entirely true. The thing that often leads to over expenditure is the mismanagement of finances by the credit card holder. Credit cards are simply a tool to make purchases feasible in the present while helping the card holder earn multiple benefits. It is like any other financial tool and when used with planning, it proves to be among the most useful financial tools in today’s context.
Credit cards provide flexibility of payments by providing the card holders with the ability to make purchases immediately without affecting their immediate cash flows. This in essence increases the purchasing power of the cardholder while giving them loads of other benefits in the process.
PNB Global Platinum Credit Card
Just like the name suggests, PNB Global Platinum Credit Card is very rewarding for cardholders. The long list amazing benefits on offer from this credit card include annual fee waiver, concierge services, attractive rewards program, dining as well as wellness offers. And that is not all, this VISA card is accepted worldwide and not just domestically. Security is also a priority here. The card uses a chip and PIN system while also being insured against loss of the card.
Benefits of the PNB Global Platinum Credit Card
The following are the key benefits of the PNB Global Platinum Credit Card.
Joining fee waiver: The PNB Global Platinum Credit card features a joining fee of Rs.1000 for the first year. Punjab National Bank will refund the joining fee of the card holder if cumulative value of purchases (except fuel and cash withdrawals) exceeds the credit limit of the card in the first 6 months of issuance.
Global Reach: The PNB Global Platinum Credit Card is accepted globally and not just by the domestic merchants. In fact this credit card bears the VISA logo means that all merchants who accept VISA cards will allow the card holder to make purchases using this credit card. What’s more this card can be used at any VISA ATM globally.
Annual fee waiver: The annual fee of Rs. 1000 on the PNB Global Platinum Credit Card, which is applicable from the second year onwards, is waived off if the cardholder fulfils the following three criteria:
- The total amount spent using the credit card in the previous year exceeds the credit limit
- There is at least one retail purchase in the previous quarter and
- The card account should also have a good track record i.e. no defaults on the card.
Additional incentives: Punjab National Bank provides card holders of the PNB Global Platinum card with platinum benefits in the form of exclusive offers from the merchants as well as priority 24×7 customer care services.
Tracking expenditures: The PNB Global Platinum Credit Card holders are sent periodic account statements that help them keep track of their expenditure. This helps the card users plan their future expenditures accordingly.
One stop solution: The PNB Global Platinum Credit Card is a multi-purpose card that can be used for everyday expenses such as shopping, dining out as well as making travel bookings, paying insurance premiums online, booking railway tickets, purchasing fuel and much more.
Rewards program: Holder of PNB Global Platinum Credit Card can earn 1 point for every 100 rupees that they spend shopping at a merchant establishment or earn. They can also earn 2 points for every Rs. 150 that they spend on retail transactions. These customers can then redeem these points in exchange for amazing gifts from the Punjab National Bank’s rewards catalog which is updated periodically.
How to Apply for the PNB Global Platinum Credit Card
To be eligible for this card, a person must have a prior banking relationship with PNB for at least 6 months. Furthermore, the applicant should be in the age group of 21-65 years. Any salaried employee, self-employed, retired government officials or businessmen can apply for the PNB Global Platinum Credit card if he/she meets the minimum income requirement and resides or works in the city where the concerned PNB branch is present.
Once the person meets these criteria, it is merely a matter of filling up the application form for the PNB Global Platinum Credit Card and providing the requisite documents. These documents include identity proof (PAN Card, Aadhaar, Driver’s license), your address proof (Passport, Aadhaar, electricity bill, Voter’s ID Card, etc) and your income proof (Form 16, salary certificate or acknowledged IT returns statement). On submitting these and after completion of subsequent verification, the platinum card will be issued to the applicant.