Central Bank of India launches 'Wonder Card'

The Central Bank of India on Wednesday rolled out a new debit-cum-credit card, called 'Wonder Card', for the benefit of salaried customers in Bihar. Speaking at a function here after launching the Wonder Card, Central Bank of India executive director Malay Mukherjee said the new card will enable a customer to withdraw a fixed amount in excess of his salary to be adjusted against deposit under salary head in the next month.

A Wonder Card holder with a salary of up to Rs 25,000 per month can withdraw an excess amount of Rs 10,000 against his salary amount, while one with Rs 60,000 salary could withdraw Rs 25,000 excess amount, he said, adding, such a card holder with salary of more than Rs 60,000 per month could withdraw up to Rs 60,000.  

Mukherji said the withdraw of excess amount against salary will be adjusted from the next month's salary with interest at the bank's base rate at 10.25 percent, in addition to four per cent interest.

He added Bihar has become only the second state after Maharashtra where the Wonder Cards have been launched for the salaried account holders. Mukherjee distributed ten Wonder Cards and Rs 12 crore loan among 80 people on the occasion.

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