The verdict
One of India's most rewarding Credit-on-UPI cards. By transforming every everyday chai, grocery, and dining UPI payment into tangible up to 2% cashback at zero lifetime cost, the PNB Kiwi card is a game-changer for everyday spenders.
Spending ₹15,000/month across local grocery stores, dining, and retail via merchant UPI QRs earns ₹3,600/year in direct cash rewards. With ₹0 annual fees, the card generates pure 100% ROI from day one.
Cardholders who require physical plastic cards for offline swipe terminals or want airport lounge access should choose PNB RuPay Select.
✓What works
- +100% Lifetime Free virtual credit card with zero joining and zero annual renewal fees.
- +Earn up to 2% cashback (Kiwis) on every single merchant UPI QR scan transaction.
- +Instant digital issuance on the Kiwi mobile app with zero paperwork.
- +Direct cash redemption to any bank account with zero redemption fees.
- +Works across millions of RuPay UPI enabled merchant QR codes across India.
- +1% fuel surcharge waiver on transactions between ₹500 and ₹4,000.
✕What doesn't
- −100% virtual card; physical plastic card is not issued by default.
- −Does not offer airport lounge access.
- −Cashback is restricted to merchant UPI QR transactions (P2PM / P2M); P2P transfers are excluded.
What it earns
4 Kiwis = ₹1.00 (1 Kiwi = ₹0.25 direct cash into your bank account).
| Category | Rate | Monthly Cap | Per ₹1L spent |
|---|---|---|---|
| RuPay UPI Merchant QR Payments | Up to 2.0% Cashback (2 Kiwis / ₹100) | Max ₹1,500 cashback / month | 8,000 Kiwis (~₹2,000 direct cash) |
| Online E-Commerce Spends | 0.50% Cashback (0.5 Kiwis / ₹100) | Uncapped | 2,000 Kiwis (~₹500 cash) |
| Peer-to-Peer (P2P) UPI Transfers | 0% | Excluded | 0 Kiwis |
Accelerated earn
Up to 2% Cashback on All UPI QR Payments
Earn up to 2% instant cash rewards on daily tea, groceries, and dining UPI payments.
| Category / Channel | Multiplier Rate | Monthly Cap | Cap / Condition |
|---|---|---|---|
| Merchant UPI QR ScansUp to 2% cashback across all verified merchant UPI QR scans. | 4× · Up to 2.0% Cashback | ₹1,500 / month | — |
| Standard Online Transactions0.50% cash on regular e-commerce transactions. | 1× · 0.50% Cashback | Uncapped | — |
Redemption options
Redeem Kiwis directly as real cash into your linked bank account via the Kiwi app.
| Redemption Channel | Value Per Point | Minimum | Ceiling / Limits | Fee |
|---|---|---|---|---|
| Direct Bank Account Cash TransferBEST VALUE | 1 Kiwi = ₹0.25 (Instant Cash) | 100 Kiwis | None | Nil |
Reward Scope: Inclusions & Exclusions
✓Eligible Spends (Inclusions)
- +All merchant UPI QR codes (BharatPe, Paytm, PhonePe, Google Pay merchants).
- +Daily groceries, street food, dining, pharmacies, and local retail.
- +1% fuel surcharge waiver across India.
✕Excluded Spends & Fee Traps
- −P2P personal money transfers to friends and family.
- −ATM cash withdrawals.
Fee Schedule & Waiver Criteria
| Fee Component | Amount / Rate |
|---|---|
| Joining Fee | ₹0 (100% Lifetime Free) |
| Annual Renewal Fee | ₹0 (Lifetime Free) |
| Finance Charges (Interest Rate) | 2.95% per month (35.40% per annum) |
| Foreign Currency Markup | 3.50% + GST |
| Fuel Surcharge Waiver | 1% waiver on ₹500 to ₹4,00,0 transactions (Max ₹250/month) |
Eligibility & Approval Criteria
| Criteria | Requirement |
|---|---|
| Age Requirement | 21 to 60 years |
| Minimum Monthly Income | ₹20,000+ per month (Salaried or Self-Employed) |
| Credit Score (CIBIL) | 700+ recommended for instant virtual approval |
Frequently Asked Questions
Does PNB Kiwi RuPay Credit Card offer airport lounge access?
What are the MITC charges, annual fees, and interest rates for PNB Kiwi RuPay Credit Card?
What is the reward rate and point redemption value on PNB Kiwi RuPay Credit Card?
Which transactions are excluded from earning rewards on PNB Kiwi RuPay Credit Card?
Who is PNB Kiwi RuPay Credit Card best suited for in 2026?
Editorial Deep-Dive Analysis
Comprehensive Overview: PNB Kiwi RuPay Credit Card
The PNB Kiwi RuPay Credit Card is a digital-first, virtual credit card co-branded by Punjab National Bank and fintech innovator Kiwi on the NPCI RuPay network. Delivered entirely as a mobile-native virtual card within the Kiwi application, it operates on a strict 100% Lifetime Free (LTF) model with zero joining fees and zero annual renewal charges forever, requiring no spend conditions to retain fee-free status.
Engineered specifically to monetize India’s burgeoning Credit-on-UPI ecosystem, the card enables users to earn up to 2% flat cashback (accrued as 2 Kiwis per ₹100 spent, where 1 Kiwi = ₹0.25) across everyday merchant UPI QR scan transactions. From local chai stalls and neighborhood kirana groceries to cafes, pharmacies, and dining outlets, every scan-and-pay interaction generates liquid cash rewards that can be credited directly into any linked Indian bank savings account without minimum lock-in barriers or cumbersome voucher catalogs.
Key Privileges and Practical Everyday Benefits
- 100% Lifetime Free Digital Architecture: Zero joining fee and zero annual charges forever, without any spend thresholds or renewal conditions.
- Up to 2.0% Cash Return on UPI Spends: Earn up to 2 Kiwis per ₹100 spent on merchant UPI QR transactions, redeemable directly as cash into your bank account.
- Instant Virtual Issuance in Under 2 Minutes: Complete seamless paperless digital onboarding on the Kiwi app with instant virtual card delivery.
- Universal Merchant QR Compatibility: Scan and pay seamlessly across all BharatPe, Paytm, PhonePe, and Google Pay merchant QR stands nationwide.
- Fuel Surcharge Savings: Save 1% on fuel transactions between ₹500 and ₹4,000 at petrol stations across India.
Important Terms and Spend Conditions to Keep in Mind
- Virtual-Only Product: The card is issued exclusively as a virtual card within the Kiwi app; physical plastic or metal cards are not provided for POS swipe machines.
- Merchant QR Requirement: Accelerated cashback applies strictly to merchant UPI QR payments (P2M); peer-to-peer transfers (P2P) between personal bank accounts do not earn rewards.
- Airport Lounge Access Excluded: As a lightweight transaction-focused card, it does not include complimentary domestic or international airport lounge access.
- Non-Reward Transactions: ATM cash withdrawals, wallet reloads, and government payments are excluded from Kiwi reward accruals.
- Foreign Currency Markup: Transactions in international currencies incur a standard 3.50% + GST foreign currency markup fee.
Who Benefits Most
- Daily UPI Scan-and-Pay Users: Consumers who conduct multiple micro-transactions daily at local kirana stores, coffee shops, and street stalls.
- Zero-Fee Seekers: Cardholders looking for guaranteed 100% lifetime free ownership without worry over annual spend targets or recurring subscriptions.
- Direct Cashback Preferers: Users who prefer liquid rupee deposits into their savings account rather than navigating opaque reward catalog conversions.
- Punjab National Bank & Kiwi Partnership — PNB Kiwi Virtual Credit Card schedule of charges and MITC
- GoKiwi Tech Private Limited — Up to 2% Kiwis cashback, 100% LTF terms & RuPay Credit-on-UPI guidelines
Independent Editorial & Statutory Disclaimers
Institutional Transparency & Nominative Fair Use Statement
CredSutra operates as an independent credit card discovery and consumer intelligence engine. CredSutra is NOT a bank, Non-Banking Financial Company (NBFC), Direct Selling Agent (DSA), or Lending Service Provider (LSP).