A blow to PNB credit card holders: Hefty charges to apply to 6 services starting November 1st

If you hold a PNB credit card, be mindful when using it from November 1st, as the bank has increased charges on several credit card services—including the payment of bills using the card.

Ahead of Diwali, Punjab National Bank (PNB) has introduced significant changes to the terms and charges for its Visa and RuPay credit cards. Under these new rules, withdrawing cash from ATMs, late payment fees, and the redemption of reward points will become more expensive. These changes will come into effect on November 1st.

Furthermore, if a customer pays utility bills—such as those for electricity, water, Wi-Fi, or LPG—exceeding ₹50,000 within a single billing cycle, a new 1% charge will be levied. Given these updates, customers should carefully review the full list of new charges before using their credit cards.

What are the charges for specific services?

Reward Redemption: Previously free; now, a fee of ₹99 will be charged for each instance.
Bill Payments: A 1% fee will apply if utility bills paid via credit card exceed ₹50,000 in a single billing cycle. A maximum limit of ₹2,000 per transaction will apply to such payments.
ATM Cash Withdrawals: For PNB ATMs, the charge will be 2.5% or ₹400, whichever is higher. For ATMs of other banks or those located abroad, the charge will be 2.5% or ₹500, whichever is higher. Previously, this was 2%, with a minimum charge of ₹100–₹200.
Late Payment Fees: The slabs based on the outstanding amount have been revised (increased). A charge of ₹500 will be levied for amounts between 501 and 1,000, ₹750 for amounts between 1,001 and 10,000, and ₹1,000 for amounts above 10,001. Previously, there was no charge (nil) for amounts up to 1,000.
Additionally, charges for returned cheques, failed auto-debit transactions, and duplicate statements have also been revised. GST will be applied separately, and the charges may vary depending on the type of credit card.

For Visa and RuPay credit cards, a new charge of 2% of the payment amount (subject to a minimum of ₹400) will be applicable if a cheque issued for credit card bill payment is returned, or if an Electronic Clearing Service (ECS) or auto-debit instruction fails.

For credit cards linked to fixed deposits, a charge of ₹100 will be applied per instrument. All service charges applicable to 'Luxura' credit cards issued against fixed deposits will be the same as those applicable to standard 'Luxura' credit cards.