PMC Bank RuPay Platinum
CancelThe first co-operative bank credit card in India, priced free for two years — and gone with the bank that issued it.
no published earn rate to price
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: Not published — neither PMC's card pages nor its schedule of charges states a welcome or first-transaction bonus
Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. Everything we can source — the fee, the charges, the migration that put this card in your hand — is above and stands on its own; this card is simply not on the board, not in the calculator, and cannot win a best-of call until Punjab & Maharashtra Co-operative Bank publishes terms we can cite.
Why we decline to value some cards, and what it takes to change that →
3 notes on the card itself: how it is issued · the network variants · why it ranks #877
Why #877 The first credit card any multi-state scheduled co-operative bank in India ever issued, and it is carried on this board as history rather than as a recommendation: the bank was placed under RBI directions in September 2019 and amalgamated into Unity Small Finance Bank in January 2022. It is carried and not ranked for a second, separate reason — this desk does not model PMC's reward-point currency, so it is carried without a value.
The take
Before Saraswat, before the RRB co-brands, there was this. PMC Bank put a RuPay credit card on its own licence and told its customers so on the front page of the product: "Your Bank is the 1st Multi State Scheduled Bank to issue RuPay Credit Card." The Platinum was the entry rung of four — Platinum and Select, each in an unsecured and a fixed-deposit-backed shape — and the pricing was aimed squarely at a member who had never held a credit card. Nothing to join. Nothing to hold for the first two years. ₹500 from the fourth year onward, and even that reversed by ₹1,00,000 of spend in the previous year, which is a little over ₹8,000 a month. The money terms underneath were unusually gentle for the segment: retail interest at 1% a month, an APR of 12% against an Indian norm nearer 40%, up to 50 days interest-free, and cash advances at the same 1% rather than the punitive rate almost every issuer applies. What it never had was a travel benefit. No lounge access appears anywhere in PMC's card pages, FAQs or fee table; foreign currency transactions cost 3.50%, exactly the Indian norm; and the reward catalogue redeemed by emailing the bank's card desk. Then the ending, which is the reason anyone should still read this page. The RBI put PMC Bank under directions in September 2019 over concealed lending to a single borrower group, deposits were frozen for more than two years, and on 25 January 2022 the Government of India notified the scheme amalgamating what was left into Unity Small Finance Bank. The card did not survive the bank. It stands here as the proof that a co-operative bank can run a real credit-card programme, and as the reminder of what happens to the cardholders when the issuer underneath one fails.
Your renewal — keep, downgrade or cancel
There is no renewal arithmetic to run on this card yet — and a break-even we cannot source is not one we will print.
the whole desk — what changed, the downgrade, and what we cannot price →
Keep, downgrade or cancel
what we can and cannot price
Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. A break-even is the spend at which value crosses a fee, and we are short one side of that sentence — so this desk prints no ladder, no crossing and no ₹0 standing in for either. What we can source about this card is under Sources.
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Punjab & Maharashtra Co-operative Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and we cannot price either side of it.
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- Nothing to join: PMC's schedule of charges printed NIL against the joining line for both the primary and the add-on card
- Free for the first two years, then ₹500 a year, waived outright by ₹1,00,000 of spend in the previous year
- Retail interest of 1% a month — an APR of 12%, roughly a third of what mainstream Indian issuers charge
- Up to 50 days interest-free when the previous month's bill is cleared in full
- Cash advances at the same 1% a month, with a fee of 1% of the amount subject to a ₹100 minimum
- Up to three add-on cards for family, free to issue and free to hold
Watch out
- PMC BANK NO LONGER EXISTS. It was placed under RBI directions in September 2019 and amalgamated into Unity Small Finance Bank on 25 January 2022; this card is carried as a record, not as something a reader can hold
- This desk does not model PMC's reward-point currency, so the card's earn cannot be valued, ranked or compared, and it is not in the calculator
- No lounge access of any kind — PMC's card pages, FAQs and fee table name no lounge, no network and no operator
- 3.50% on foreign currency, which is the Indian norm and not a discount on it
- Reward redemption ran by email to the bank's card desk, with a minimum accumulation before anything could be claimed at all
- The published fee table skipped the third year entirely — it read first year free, second year free, fourth year onward ₹500 — and PMC never printed what the third year cost
What these points actually fly
Punjab & Maharashtra Co-operative Bank has not published what this card earns, so there are no points here to fly with — not zero points, and not points that go nowhere: nothing stated either way. The moment a benefit sheet exists we will price whatever it names.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
Does your spend count toward the fee waiver?
not published — and we say which
₹1,00,000 a year is the bar that waives the ₹500 fee. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Not published. Punjab & Maharashtra Co-operative Bank states what the PMC Bank RuPay Platinum earns, but has not published which spend categories count toward the fee waiver — the ₹1,00,000 bar. We won't guess it from the earn table or from a sibling card: Axis published three cards' rules on one day and all three lists differed. If you hold this card and have it in writing from the issuer, send us the document and we'll source it.
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
the route in — no cutoffs published
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Closed to new applications — existing cardholders keep the card; there is no way in.
Punjab & Maharashtra Co-operative Bank publishes no income or age cutoffs for this card. Blank means blank — we don't invent numbers to fill a grid.
per the official Punjab & Maharashtra Co-operative Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
6 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
THE ISSUER NO LONGER EXISTS — PMC Bank went under RBI directions in September 2019 and was amalgamated into Unity Small Finance Bank on 25 January 2022; this row is a record. Unsecured Platinum column: joining fee NIL, annual fee free in years one and two and ₹500 from the fourth year, waived on ₹1,00,000 of previous-year spend. THE THIRD YEAR IS MISSING FROM THE ISSUER'S OWN TABLE, which jumps from "2nd Year: FREE" to "4th Year Onwards" — recorded, not filled in. Credit limit as per eligibility; interest-free up to 50 days; billing on the 12th; cash limit 40% of the credit limit. No lounge clause anywhere in the schedule, the FAQ or the card pages. ISSUING MODEL: PMC's own licence — "Your Bank is the 1st Multi State Scheduled Bank to issue RuPay Credit Card", its own MITC and its own card-management portal, no sponsor bank named. The reward table is published but this desk models no PMC point currency, so the earn triple is null.
per the official Punjab & Maharashtra Co-operative Bank MITC · reviewed 10 Jul 2026
What's changed for this card
nothing tracked yet — which is itself a fact
No tracked devaluations or changes yet — this card's history starts here.
Verified against Punjab & Maharashtra Co-operative Bank's own documents on
Not published , and we will not invent it: the earn rate and the currency it earns.
Every document behind this page — 4 of them, each with the day we read it
- official PMC Bank's schedule of charges for its RuPay credit cards, effective 13 July 2019 — the nil joining line, the ₹500 annual fee and its ₹1,00,000 waiver, and the 3.50% foreign-currency fee
- official PMC Bank's reward-programme page (archived 01-Sep-2019) — the accumulation minimum before anything could be redeemed, and the email-only redemption route
- official PMC Bank's credit-card home page (archived 01-Oct-2017) — its own claim to be the first multi-state scheduled bank to issue a RuPay credit card, and the two-tier Platinum and Select line-up
- official Reserve Bank of India on the amalgamation of PMC Bank into Unity Small Finance Bank, effective 25 January 2022 — the event that closed this card