New Delhi, NFAPost: Punjab National Bank (PNB) and Patanjali Ayurved Limited (PAL) have launched co-branded credit cards in partnership with the National Payments Corporation of India (NPCI).

The co-branded credit cards offered on NPCI’s RuPay Platform are available in two variants – PNB RuPay Platinum and PNB RuPay Select. Both the co-branded cards offer a hassle-free credit service to purchase day-to-day Patanjali products, along with cash backs, loyalty points, insurance cover and more.

PNB RuPay Platinum and PNB RuPay Select cardholders will receive a welcome bonus of 300 reward points on activation. The customers will also get complimentary domestic and international airport lounge access, PNB Genie Mobile Application for card management, add-on card facility, lucrative reward points on spends, along with cash advance/revolve, EMI and auto-debit facilities.

An official statement said, “For three months from the card launch, the cardholders may enjoy suitable cashback @2% for transactions over and above Rs 2500, subject to a ceiling of Rs 50 per transaction at Patanjali Stores.”

PNB Managing Director and CEO Atul Kumar Goel said the collaboration is expected to extend optimised benefits for customers and public at large.

“The offerings are customized and personalized for affluent and mass segments. The benefits under co-branding arrangement enriched with lucrative value propositions are one of the industry best aesthetically designed variants,” said PNB Managing Director and CEO Atul Kumar Goel.

The Platinum version comes with a zero joining fee and an annual fee of Rs 500, while the Select version offers a low joining fee of Rs 500 and an annual fee of Rs 750. The annual fees will be waived off in case the card is used at least once in each quarter in the preceding year.

Platinum and Select cards come with attractive insurance cover of Rs 2 lakh and Rs 10 lakh, respectively for Accidental Death and Personal Total Disability. Platinum Card offers a credit limit of Rs 25,000 to Rs 5 lakh and Select Card Rs 50,000 to Rs 10 lakh.

Yoga guru Ramdev said this alliance with PNB and RuPay will provide the right opportunity to promote credit card usage among new users.

“This initiative will enable a seamless and safe shopping experience for customers at large while purchasing Patanjali products,” said Ramdev.

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