Verified May 2026·By Arun, Personal Finance Editor·Cross-checked against issuer MITC & RBI sources·How we research
⚠ Verify with issuer (Apr 2026): Reward rates, fees and waiver criteria for this niche/lower-volume product update without notice. Cross-check the latest Most Important Terms & Conditions (MITC) on the official Punjab National Bank (PNB) website before applying. Use this page as a feature reference only.
The PNB RuPay Select is Punjab National Bank’s premium RuPay-network card, built around UPI-on-credit and modest lifestyle perks. It’s targeted at PNB customers in tier-2 / tier-3 cities who want a respectable credit card without the private-bank fee structure. Practical, not glamorous.
Fees and charges
| Joining fee | ₹500 + GST (waived in promos) |
| Annual fee | ₹500 + GST |
| Welcome benefit | 2,000 reward points (worth ~₹500) |
| Annual fee waiver | Spend ₹1.5 lakh / year |
| Foreign markup | 3.5% + GST |
| Finance charges | 3.10% per month / ~37% APR |
How rewards work
- Retail spend: 2 reward points per ₹100 (~0.5%)
- Online spend: 4 reward points per ₹100 (~1%)
- UPI transactions via credit card: 2 RP per ₹100, capped ₹500/month
- Excluded: rent, fuel, EMI, wallet, government
- Redemption: 1 RP = ~₹0.25 in catalog vouchers
Lounge access
- Domestic: 8 visits/year via RuPay lounge program
- International: none
What’s included
- 1% fuel surcharge waiver (capped ₹100/cycle)
- Air-accident insurance ₹5 lakh
- UPI credit payments via RuPay (link to GPay, PhonePe, Paytm)
Spend level where the fee pays off
| Annual fee + GST | ₹590 |
| Welcome benefit (year 1) | ₹500 |
| Lounge value (year 1, 8 visits) | ~₹6,000 |
| Net cost year 1 | Strongly net positive |
Vs. Canara Bank RuPay Select
Canara RuPay Select offers a near-identical benefit structure at the same fee. PNB has slightly lower interest rate (37% vs. 38%) but Canara’s reward catalog is broader. The choice between the two should be driven by which bank you’re an existing customer of. The relationship banking integration matters more than the rewards math.
Who this card is for
- Best fit: existing PNB customers wanting a companion credit card
- Best fit: users in tier-2/tier-3 North Indian cities where PNB has stronger presence
- Best fit: heavy UPI users at small merchants (RuPay credit-on-UPI)
- Skip if: you bank with HDFC/ICICI/Axis — their entry premium cards offer more
- Skip if: you travel internationally — forex markup is steep
Verdict: A solid PSU bank entry premium card with reasonable lounge access and the RuPay UPI hook. Reward economics are modest but lounge value alone justifies the fee. Best chosen by existing PNB customers — not worth opening a new banking relationship just for this card.
PNB has multiple RuPay card variants (Select, Platinum, Classic). Confirm you are applying for the Select variant before proceeding.
This is independent commentary, not financial advice.