Overview of Debit Card

What is Debit Card?

A debit card is a card that has direct access to your Bank account. The card is just like a money purse in cardholder pocket. Debit card reduces the risk of carrying cash. The debit card can be used for purchases at Merchant Establishments.

A debit card is a plastic payment card which can be used for making purchases instead of cash. It is similar to a credit card, but unlike a credit card, the money is debited directly from the attached bank account on transaction.

Objective of Debit Card

Debit card performs dual functions. First, the card holder can withdraw money from his/ her attached bank account through an ATM and secondly, the card holder can make purchases directly through a Debit card either online or offline, which can be made with or without a PIN.

Difference between a Credit Card & a Debit Card

  • When a customer uses a debit card, the money is deducted directly from his attached bank account but when he uses a credit card, he is borrowing money to be repaid later
  • User will not receive a credit period or grace period in case of a Debit Card
  • The amount of transaction is limited to the balance in his/ her bank account
  • Debit card allows you to use ATMs
  • Debit Card doesn't improve your credit score
  • Credit cards are available for exclusive or specific purposes such as lifestyle, fuel, travel, etc.

An ATM card is a PIN-based card. You can use it at ATMs and additionally, you may also be able to use it to make purchases, if the merchant is using one of the same electronic ATM networks which is also listed on the back side of your ATM card. A debit card has direct access to your Bank account. You can use it at ATMs. The main difference is that a debit card has a Visa or Mastercard logo on its face which enables you to use it wherever Visa or Mastercard debit cards are accepted.

Key features of Debit Card

  • Debit card issued by our Bank is in association with VISA/ Rupay and governed by the rules and regulations of Visa/NPCI.
  • The Debit card can be used for withdrawal of cash through all ATMs and for making purchases at merchant locations.
  • Debit cards can be used on internet for booking railway tickets or any other online transactions.

Upcoming Bank Holidays

2018 May 29 is a bank holiday in Sikkim due to Saga Dawa.
2018 June 08 is a bank holiday in Jammu And Kashmir due to Jumat-ul-Veda.
2018 June 11 is a bank holiday in Jammu And Kashmir due to Shab-I-Qadr.
2018 June 15 is a bank holiday in Jammu And Kashmir due to Id-ul-Fitr (Ramzan)/Raja Sankranti/Y.M.A Day.
2018 June 16 is a bank holiday in Andaman And Nicobar Island due to Ramzan Id (Id-ul-Fitr)/Maharana Pratap Jayanti.
2018 June 30 is a bank holiday in Mizoram due to Remna Ni.

Banks Loan Service

ALL INDIA BANKS LIST
A B BANK LIMITED ABN-AMRO Bank N.V ABU DHABI COMMERCIAL BANK AIRTEL PAYMENTS BANK LIMITED
ALLAHABAD BANK American Express Banking Corp ANDHRA BANK Antwerp Diamond Bank NV
AU SMALL FINANCE BANK LIMITED AXIS BANK B N P PARIBAS BANDHAN BANK LIMITED
BANK OF AMERICA BANK OF BAHARAIN AND KUWAIT BSC BANK OF BARODA BANK OF CEYLON
BANK OF INDIA BANK OF MAHARASHTRA BANK OF TOKYO MITSUBISHI LIMITED BARCLAYS BANK
BHARATIYA MAHILA BANK LIMITED Calyon Bank CANARA BANK CAPITAL SMALL FINANCE BANK LIMITED
CATHOLIC SYRIAN BANK LIMITED CENTRAL BANK OF INDIA CHINATRUST COMMERCIAL BANK LIMITED CITI BANK
CITY UNION BANK LIMITED CORPORATION BANK DBS Bank Ltd DCB BANK LIMITED
DENA BANK DEUSTCHE BANK DHANALAKSHMI BANK EQUITAS SMALL FINANCE BANK LIMITED
ESAF SMALL FINANCE BANK LIMITED EXPORT IMPORT BANK OF INDIA FEDERAL BANK FINCARE SMALL FINANCE BANK LTD
HDFC BANK HSBC BANK HSBC BANK OMAN SAOG ICICI BANK LIMITED
IDBI BANK IDFC BANK LIMITED INDIAN BANK INDIAN OVERSEAS BANK
INDUSIND BANK JAMMU AND KASHMIR BANK LIMITED JP MORGAN BANK JSC VTB BANK
KARNATAKA BANK LIMITED KARUR VYSYA BANK KOTAK MAHINDRA BANK LIMITED Krung Thai Bank Public Co. Ltd
LAXMI VILAS BANK MASHREQBANK PSC MIZUHO CORPORATE BANK LIMITED NORTH EAST SMALL FINANCE BANK LIMITED
OMAN INTERNATIONAL BANK SAOG ORIENTAL BANK OF COMMERCE PUNJAB AND SIND BANK PUNJAB NATIONAL BANK
RBL Bank Limited SBM BANK MAURITIUS LIMITED SHINHAN BANK SOCIETE GENERALE
SONALI BANK LTD SOUTH INDIAN BANK STANDARD CHARTERED BANK STATE BANK OF BIKANER AND JAIPUR
STATE BANK OF HYDERABAD STATE BANK OF INDIA STATE BANK OF MYSORE STATE BANK OF PATIALA
STATE BANK OF TRAVANCORE SURYODAY SMALL FINANCE BANK SYNDICATE BANK TAMILNAD MERCANTILE BANK LIMITED
THE BANK OF NOVA SCOTIA THE NAINITAL BANK LIMITED UBS AG UCO Bank
Ujjivan Small Finance Bank Limited UNION BANK OF INDIA UNITED BANK OF INDIA UNITED OVERSEAS BANK LIMITED
UTKARSH SMALL FINANCE BANK VIJAYA BANK Woori Bank YES BANK
ZILA SAHAKARI BANK LTD