Prabhu Bank launches new schemes for its credit card holders

Prabhu Bank Ltd has launched 'InstaPay' and 'RewardPoints' schemes for its credit card holders. Issuing a statement on Wednesday, the commercial bank said that credit card holders can foot the bill of foreign trips, fees of colleges and schools and hospital bill, and buy electronic appliances, jewelry, and motorbikes and scooters through InstaPay scheme. The bank will not charge any interest on using the amount under this scheme. However, clients will have to pay the required service charges, according to the statement. Similarly, clients paying through credit card will earn 1 point reward on each purchase of Rs 200. The bank will deposit Rs 500 on the account of credit holders after 500 points is accumulated, the statement added. Source: republica