Last reviewed: 10 October 2026. Fees and benefits checked against PNB’s official Rakshak RuPay Platinum card page on creditcard.pnb.bank.in, the bank’s credit card MITC, its Schedule of Fees and Charges, its credit card FAQ and the revised charges notice effective 1 November 2026.
The PNB Rakshak RuPay Platinum credit card is Punjab National Bank’s entry level card for defence personnel, built on the RuPay network and pitched as a low cost first card for soldiers, sailors and air warriors who already bank with PNB. It has no joining fee, a ₹500 annual fee that goes away if you simply use the card once in every quarter, and a welcome bonus of 300 plus reward points on first use. What it does not have is a clearly published reward rate, so this review focuses on what PNB actually confirms and on what the card costs if you slip up.
The card is still listed on PNB’s current credit card page as of 10 October 2026, alongside its bigger sibling, the Rakshak RuPay Select.
PNB Rakshak RuPay Platinum credit card: key facts
| Feature | Details |
|---|---|
| Network | RuPay Platinum |
| Joining fee | Nil |
| Annual fee | ₹500 + 18% GST (₹590), as listed in the MITC |
| Fee waiver | Annual fee waived if the card is used at least once in each quarter of the previous year |
| Welcome benefit | 300 plus reward points on first use |
| Reward rate | Not stated on the Rakshak page; the standard PNB RuPay Platinum earns 1 point per ₹100 |
| Point value | ₹0.25 per point (MITC); minimum redemption 1,000 points |
| Other benefits | Cashback on utility bills, eateries and restaurants (rate not published), insurance cover, 24×7 concierge, 300 plus merchant offers |
| Lounge access | Not listed on the card page |
| Forex markup | 3.5% of the transaction |
| Credit limit | ₹25,000 to ₹5,00,000 (PNB FAQ) |
| Eligibility | Defence personnel, age 21 to 70, minimum annual income ₹2.5 lakh |
| Best for | Service members who want a free to keep RuPay card for UPI and occasional spends |
GST at 18% is charged on every fee, interest and charge listed in this review.
What you would actually earn
PNB does not publish a separate earn rate for the Rakshak variant. To give a realistic picture, we use the rate on the standard PNB RuPay Platinum card, which is 1 point for every ₹100. Treat the result as an estimate until PNB confirms the Rakshak rate.
- Monthly spend: ₹15,000, so ₹1,80,000 a year
- Points: ₹1,80,000 ÷ 100 × 1 = 1,800 points, plus the 300 point welcome bonus = 2,100 points
- Value at ₹0.25 a point: 2,100 × ₹0.25 = ₹525
- Redemption fee: ₹99 + 18% GST = ₹116.82 per request (one redemption a year)
- Annual fee: nil, because you use the card in every quarter
- Net first year value: ₹525 minus ₹116.82 = about ₹408
That works out to roughly 0.23% back on spend, which is modest. If you forget to use the card in even one quarter, the ₹590 fee wipes out the year’s rewards. The real value of this card lies in it being free to hold and in the RuPay link to UPI, not in points.
Pros and cons
Pros
- No joining fee and an easy waiver: one transaction per quarter
- RuPay network, so it can be linked to UPI apps for scan and pay
- Low income bar of ₹2.5 lakh a year, within reach of most jawans
- Credit limit can go up to ₹5 lakh
- 24×7 concierge and merchant offers through PNB’s card portal
Cons
- Reward rate, cashback rate and insurance amounts are not published for this variant
- Points are worth only ₹0.25 and each redemption costs ₹99 plus GST
- No lounge access listed
- 3.5% forex markup makes it poor for foreign spends
Fees and charges
| Charge | Amount |
|---|---|
| Joining fee | Nil |
| Annual fee | ₹500, waived on quarterly usage |
| Interest on revolving credit | 2.95% a month (35.89% a year) |
| Interest-free period | 20 to 50 days, only if the previous bill was paid in full |
| Late payment fee | Nil up to ₹1,000 due; ₹500 (₹1,001 to ₹5,000); ₹600 (₹5,001 to ₹10,000); ₹750 (above ₹10,000) |
| Cash advance | 2% of the amount, minimum ₹100 at PNB ATMs, ₹150 at other ATMs, ₹250 overseas (Platinum tier) |
| Cash limit | 20% of the credit limit |
| Forex markup | 3.5% |
| Reward redemption | ₹99 per request |
| Cheque or auto-debit bounce | ₹200 per instrument |
| Railway tickets | Up to 1.8% on IRCTC, 2.5% at the counter |
Carrying a ₹20,000 balance for 30 days at 35.89% a year costs ₹20,000 × 35.89% × 30 ÷ 365 = about ₹590 in interest, plus GST. That is the same as a full year’s annual fee, so always pay the total due.
Eligibility and documents
PNB’s credit card FAQ describes the Rakshak cards as products for defence personnel, and the bank’s Rakshak banking range covers serving members of the defence and related services. The general rules are:
- Age 21 to 70 for the primary cardholder
- Minimum gross annual income of ₹2.5 lakh, salaried or self-employed
- Identity and address proof, income proof and PAN
- Up to two add-on cards for a spouse, parent, adult son or unmarried daughter aged 18 to 70
If your income is below the bar, PNB also issues cards against a fixed deposit. Those carry 1.5% a month interest, and our PNB FD interest rates page shows what the deposit itself would earn.
How it compares
| Card | Annual fee | Rewards | Lounge |
|---|---|---|---|
| PNB Rakshak RuPay Platinum | ₹500, waived on quarterly use | Not published (welcome 300 plus points) | Not listed |
| PNB Rakshak RuPay Select | ₹750; card page says waived on quarterly use | 2X points on retail merchandise | Domestic and international programme |
| PNB RuPay Platinum | ₹500, waived on quarterly use | 1 point per ₹100 | 2 domestic a quarter, 2 international a year |
If you earn ₹5 lakh or more, the Rakshak Select adds lounge access and a higher limit for a slightly bigger fee. For a wider view of RuPay cards that work with UPI, see our list of the best UPI RuPay credit cards.
Our verdict on the PNB Rakshak RuPay Platinum credit card
This is a sensible free to keep card for defence personnel who want a RuPay credit line on UPI and an easy way to build a credit history. Swipe or scan it at least once every quarter and it costs nothing. Do not pick it for rewards: PNB does not publish a clear earn rate, and at ₹0.25 a point with a redemption fee, the returns are small. Frequent travellers should look at the Rakshak Select instead.
How to apply
Apply online through PNB’s credit card portal, or ask your PNB home branch. Details of the variant are on the official PNB Rakshak RuPay Platinum card page. Keep your service ID, PAN and recent salary slips ready, and complete video KYC if prompted.
FAQs
Is the PNB Rakshak RuPay Platinum credit card free?
There is no joining fee. The ₹500 plus GST annual fee is waived if you use the card at least once in each quarter of the previous year.
Who can apply for the Rakshak RuPay Platinum card?
PNB positions Rakshak cards for defence personnel. Applicants need to be 21 to 70 years old with an annual income of at least ₹2.5 lakh.
What credit limit does the card offer?
PNB’s FAQ gives a range of ₹25,000 to ₹5,00,000, set on your income and credit profile.
Can I link it to UPI?
Yes. It is a RuPay credit card, and RuPay credit cards can be linked to UPI apps for merchant payments.
How much is a reward point worth?
PNB’s MITC values a point at ₹0.25, with a minimum redemption of 1,000 points and a ₹99 plus GST fee for each redemption. Points expire three years after they are earned.
This article is for informational purposes only and does not constitute financial advice. Card features and charges can change; check the bank’s official website before applying.
