The Platinum Card has a credit limit of Rs 25,000 to Rs 5 lakh, while the Select card has a maximum of Rs 50,000 to Rs 10 lakh.
In collaboration with the National Payments Corporation of India, Patanjali Ayurved Limited (PAL) and Punjab National Bank (PNB) unveiled co-branded contactless credit cards on Wednesday (NPCI). The credit cards are available in two versions, PNB RuPay Platinum and PNB RuPay Select, and are based on NCPI's RuPay technology.
A credit limit of Rs 25,000 to Rs 5 lakh is available with the Platinum card, while a credit limit of Rs 50,000 to Rs 10 lakh is available with the Select card.
In a statement, NPCI said, "Starting the new year on a bright note, both co-branded cards come with a number of appealing features and spend-based discounts for clients."
Users will be able to purchase everyday Patanjali products as well as cashback, loyalty points, insurance coverage, and more using the contactless credit card service. At Patanjali Stores, cardholders can get 2% cashback on transactions over Rs 2,500, subject to a maximum of Rs 50 per transaction.
PNB RuPay Platinum and PNB RuPay Select customers will also receive a 300-point welcome bonus when they activate their cards.
Customers will also receive complimentary domestic and international airport lounge access, the PNB Genie Mobile Application for card administration, add-on card facility, reward points on purchases, cash advance/revolve, EMI, and auto-debit facilities, as well as cash advance/revolve, EMI, and auto-debit. These credit cards also come with insurance coverage of Rs 2 lakh and Rs 10 lakh for accidental death and personal total disability, respectively. A credit limit of Rs 25,000 to Rs 5 lakh is available with the Platinum card, while a credit limit of Rs 50,000 to Rs 10 lakh is available with the Select card.
The Platinum version has a zero-rupee joining cost and a Rs 500 yearly fee, whereas the Select version has a Rs 500 joining fee and a Rs 750 annual price.
If the card is used at least once in each quarter of the previous year, the annual fees will be waived.
Patanjali Ayurved Limited's Managing Director, Acharya Balkrishna, stated of the agreement, "The synergies created by this relationship would aid in the adoption of digital payments, particularly among customers in tier 2 and tier 3 marketplaces. The most appealing element, aside from the favourable advantages, is the interest-free purchase of Patanjali items for 20-50 days."