PNB Rewardz: what a Punjab National Bank credit card point is worth, and the catches

What is PNB Rewardz, and who runs it?

PNB Rewardz is Punjab National Bank's loyalty programme for credit cards, debit cards, savings and current accounts, and the PNB One app. Its site is rewardz.pnb.bank.in, which replaced pnbrewardz.com. The site terms say it is powered by Loylty Rewardz Management Pvt Ltd under an agreement with PNB, and its footer carries Loylty's copyright.

Credit cardholders are enrolled on their own and need to register on the site to redeem. You can also redeem by calling 1800-572-9500, or at Max Get More partner stores, the FAQ says. PNB's card website also offers a redemption form by email or post.

How many points do PNB credit cards earn?

Between 1 and 4 points per Rs 100, by card, under the PNB Rewardz overview. The FAQ says points are not earned on cash withdrawals, fuel or jewellery. PNB's MITC adds that points on a transaction are reversed if you convert it to EMI.

The site's home page lists brands such as Myntra, Nykaa and Air India marked 5X. Its link asks for card details before it sends you to the brand, and we could not find published terms for that 5X. The disclaimer says PNB Rewardz does not handle merchant cashback and disputes go to the merchant.

From the PNB Rewardz overview page, read 9 November 2026.

What is a PNB Rewardz point worth?

Rs 0.25, under the PNB Rewardz overview, effective from 01 September 2024. The FAQ gives the same rate for cashback, 4 points to Rs 1, and PNB's MITC says the present value is 25 paise and the bank can change it.

PNB's credit card website disagrees. Its rewards page says 1 point is worth Rs 0.50 and 1,000 points get Rs 500 of shopping or cashback. The newer overview and the MITC both say Rs 0.25, so use that until PNB corrects one of them.

Points also convert to Air India Maharaja Club at 6 PNB points to 1 Maharaja Point, credited within 7 working days. Conversions cannot be cancelled or reversed.

Does PNB charge to redeem points?

PNB's MITC lists a reward point redemption charge of Rs 99 per redemption request, with GST on top as on all its fees. The PNB Rewardz FAQ and PNB's rewards page do not mention it.

An example. You redeem 1,000 points for cashback, the minimum. At Rs 0.25 a point that is Rs 250. If the Rs 99 charge plus 18% GST applies, about Rs 117 goes back out, leaving Rs 133. On PNB's older Rs 0.50 figure, it would be Rs 500 less Rs 117.

When do PNB Rewardz points expire?

After 3 years. The site terms say points must be redeemed within 36 months excluding the month of transaction, and in another clause that they expire 36 months from the date of transaction. The FAQ and PNB's rewards page say 3 years from accrual or from the date of transaction.

Under the MITC, all unused points are forfeited the moment the card is closed, by you or the bank, and no redemption is allowed if the account is delinquent. If your balance is negative at closure, the MITC converts it to a charge at Rs 0.25 a point.

What limits apply to PNB Rewardz redemptions?

The FAQ allows 10 redemption transactions a day, up to a combined Rs 3,00,000 in 24 hours. E-vouchers are capped at Rs 25,000 in a calendar month and need at least 1 point in the payment. You can combine points and money.

You need 1,000 points for cashback, which is credited to your card within 7 working days. PNB's card website gives the same 1,000-point minimum for any product or service.

Can I cancel a PNB Rewardz order?

No, once it is placed, under the FAQ. Merchandise orders cannot be cancelled, the delivery address cannot be changed, movie tickets cannot be changed or refunded, and a recharge to the wrong number cannot be reversed. Air mile conversions cannot be cancelled.

Report wrong, damaged or defective products within 15 days of delivery. E-vouchers arrive by email within 24 hours, the FAQ says. Their validity is set by the brand, most often 12 months, and cannot be extended. If PNB finds a suspicious transaction, the site terms let it recover the value of points used and block you from the programme.