PMC Bank RuPay Platinum Secured
CancelA card against your own fixed deposit, at exactly the price of the unsecured one — which almost no issuer does.
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 #879
Why #879 The fixed-deposit-backed shape of PMC's entry card, and the one a member with no bureau file could actually get — priced identically to the unsecured Platinum rather than penalised for the collateral, which is rarer than it sounds. Carried as history (the bank was amalgamated into Unity Small Finance Bank in January 2022) and carried unvalued, because this desk models no PMC reward-point currency.
The take
Secured cards in India are usually priced as a punishment: you pledge a deposit AND you pay more, or you pledge a deposit and get a stripped product. PMC Bank did neither. Its secured Platinum carried the same nil joining fee, the same two free years, the same ₹500 from the fourth year and the same ₹1,00,000 waiver bar as the unsecured Platinum, and it read off the same reward table. What changed was the plumbing. The credit limit was 85% of the fixed deposit's principal rather than an underwritten number, so the card was open to a member with no credit history at all. The interest-free window was 45 days instead of 50 and the statement fell on the 17th instead of the 12th. And the cash line was the interesting one: 100% of the credit limit, against 40% on the unsecured card — the bank was comfortable lending the whole limit in cash because it was holding the deposit. Retail interest ran at 1% a month, an APR of 12%, and cash at the same rate from the day of withdrawal, which for a secured card in this market is genuinely cheap. There was nothing here for a traveller: no lounge access appears in PMC's card pages, FAQs or fee table, and foreign currency cost 3.50%, the Indian norm. What it was, was a first credit card for a co-operative bank's member who could put up a deposit and could not put up a credit history — and PMC did not charge extra for the privilege. It ended when the bank did, on 25 January 2022.
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
- Priced exactly like the unsecured Platinum — nil joining fee, two free years, ₹500 from the fourth year, waived at ₹1,00,000 of previous-year spend
- The credit limit was 85% of the fixed deposit's principal, so no credit history was needed
- The cash line ran to 100% of the credit limit, against 40% on the unsecured card
- Retail interest of 1% a month — an APR of 12% — and cash advances at the same rate
- Up to three add-on cards for family, free to issue and free to hold
Watch out
- PMC BANK NO LONGER EXISTS. It went under RBI directions in September 2019 and was amalgamated into Unity Small Finance Bank on 25 January 2022; this card is carried as a record, not as something a reader can hold
- The interest-free window was 45 days, five short of the unsecured card's 50, and the statement fell on the 17th rather than the 12th
- Cash carried no free credit period at all — interest ran from the day of withdrawal, plus 1% of the amount subject to a ₹100 minimum
- 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 — 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
- The published fee table skipped the third year entirely — first year free, second year free, fourth year onward ₹500
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 Secured 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 — amalgamated into Unity Small Finance Bank on 25 January 2022. Secured Platinum column: priced IDENTICALLY to the unsecured Platinum — joining fee NIL, free in years one and two, ₹500 from the fourth year, waived on ₹1,00,000 of previous-year spend — which is rare, because Indian secured cards are usually priced at a premium. What differs is the plumbing, off the rows that span the secured table: credit limit 85% of the fixed deposit's principal (so no credit history required), interest-free up to 45 days rather than 50, billing on the 17th rather than the 12th, and a cash limit of 100% of the credit limit rather than 40%. No lounge clause anywhere. The reward page splits by TIER, not by collateral, so this card read off the Platinum rung — 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, effective 13 July 2019 — the secured table's nil joining line, ₹500 annual fee, ₹1,00,000 waiver, 85%-of-deposit limit and 45-day grace
- official PMC Bank's reward-programme page (archived 01-Sep-2019) — the accrual table that covered every card in the programme, the accumulation minimums, and the email-only redemption route
- official PMC Bank's credit-card home page (archived 01-Oct-2017) — the bank's own claim to be the first multi-state scheduled bank issuing a RuPay credit card, and the four-variant line-up behind it
- 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