Fast & Secure Contactless Credit Card for Everyday Retail Transactions
Everyday retail shoppers looking for a secure contactless credit card from a trusted public sector bank with low annual maintenance fees.
Free
One-time upfront₹500
Waived on ₹50,000 annual spendStandard Points
On eligible spends3.50% + GST
Cross-currency spendsLast verified 3 Oct 2026
Objective editorial assessment, ideal spender profile, and primary trade-offs
The PNB Wave & Pay Credit Card is Punjab National Bank's answer to frictionless daily merchant checkout. Engineered with advanced NFC (Near Field Communication) contactless technology, it allows cardholders to tap and pay instantly for transactions up to ₹5,000 without requiring PIN entry at retail POS terminals across India. With zero joining fee and an affordable annual fee of ₹500 plus GST, it offers accessible entry into credit. The renewal fee is completely reversed upon spending ₹50,000 annually. Spenders earn reward points on every ₹100 spent, which can be redeemed for retail merchandise and statement discounts. Backed by Punjab National Bank's expansive branch and merchant network and robust EMV chip security, the Wave & Pay card represents a dependable starter credit card for conservative retail shoppers.
Base earning rates, partner merchant acceleration, redemption options, and exclusions
| Spend Category | Earn Rate | Reward Cap | Conditions |
|---|---|---|---|
| Contactless Tap & Pay Spends | 2 Reward Points per ₹100 spent on contactless transactions (0.50% value; 1 RP = ₹0.25) | No Cap | Standard terms apply |
| Other Spends | 1 Reward Point per ₹100 spent | No Cap | Standard terms apply |
Calculate estimated net cashback and points across your actual spending pattern.
Estimate your rewards using the card's current reward rates, monthly caps and applicable fee-waiver rules.
Customize monthly spend in each category. Category amounts sum directly to your monthly spend.
| Category / Reward Bucket | Monthly Spend | Rate | Effective Rate | Cap Period | Eligible Reward | Cap Status |
|---|---|---|---|---|---|---|
| Contactless Tap & Pay Spends | ₹12,000 | 2 Reward Points per ₹100 spent on contactless transactions (0.50% value; 1 RP = ₹0.25) | — | None | Calculating... | Under cap |
| Other Spends | ₹18,000 | 1 Reward Point per ₹100 spent | — | None | Calculating... | Under cap |
| Total Monthly Cashback | ₹30,000 | - | — | - | ₹0 / mo | Zero cap loss |
₹3.6 lakh
12 billing cycles₹0
0% blended return-₹500
Standard renewal+₹0 / yr
Rewards - FeeDomestic and international lounge privileges, spend hurdles, and participating terminals
This card is tailored primarily for shopping rewards, cashback, or specific co-branded spend and does not include complimentary airport lounge visits.
Complete breakdown of joining, renewal, forex, financing APR, and transaction charges
• Eligibility: Salaried professionals with monthly income over ₹20,000 or self-employed with ITR over ₹2.5 Lakhs; age 21 to 65 years. • Joining & Annual Fee: ₹0 joining fee; ₹500 annual renewal fee (waived on spending ₹50,000 in previous card year). • Contactless Convenience: Tap and pay up to ₹5,000 without PIN entry at all NFC-enabled merchant terminals across India. • Rewards Structure: Earn 1 reward point per ₹100 on retail purchases with accelerated rewards on utility bills and groceries. • Fuel Surcharge: 1% fuel surcharge waiver for transactions between ₹500 and ₹4,000 (maximum waiver ₹150 per statement). • Forex Markup: Standard foreign exchange fee of 3.50% + GST on cross-border transactions. • Card Security: Advanced EMV chip and PIN protection with zero lost-card liability post reporting.
Evaluate whether this card's perks and waiver threshold justify its ₹500 renewal fee.
Income criteria, minimum age, CIBIL score benchmark, and verification checklist
Eligibility criteria not specified
Verified eligibility criteria are not currently available for this card. Check the issuer's latest terms before applying.
Common questions regarding PNB Wave & Pay Credit Card application, fees, reward redemption, and eligibility
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Direct online application on the official Punjab National Bank portal with paperless verification.
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