PNB Smart Banking Current Account

1. The Smart Banking Current Account offered by PNB can be opened with an initial deposit of Rs.5,000.
2. The minimum quarterly average balance to be maintained in this account differs depending on the variant of the account. The minimum quarterly average balance to be maintained for each of the accounts are as follows:
   1. PNB Silver: Rs.1 lakh
   2. PNB Gold: Rs.2 lakh
   3. PNB Diamond: Rs.5 lakh
   4. PNB Platinum: Rs.10 lakh
3. Much like the difference in the amount to be maintained as the minimum quarterly average balance, the penalty fee for non-maintenance of the minimum balance also differs. The non-maintenance charges for each variant of the account are as follows:
   1. PNB Silver: < Rs.1 lakh
      1. Rural and Semi-urban branches: Rs.500 per quarter
      2. Urban and metro branches--Below Rs.1 lakh but above Rs.10,000: Rs.500

1. Below Rs.10,000: Rs.1,000
   1. PNB Gold: Rs.1,000
   2. PNB Diamond: Rs.2,000
   3. PNB Platinum: Rs.4,000
2. Accounts that opt for the bank's Sweep-in and Sweep-out facilities are required to maintain a minimum balance of Rs.10 lakh
3. The sweep-in and sweep-out facilities can only be carried out in multiples of Rs.50,000.
4. The tenor of the term deposit ranges from 15 days to 91 days and is swept in on the 5th and 20th day of each month. In cases where these days fall on holidays, the amount will be swept in the next working day.
5. An account holder who opts out of the sweep-in facility before 15 days will not have interest paid to them.
6. The bank offers its RTGS and NEFT transfers free of charge to the account holders.
7. Each variant of the Smart Banking Current Account receives a stipulated number of cheque leaves free of charge each quarter. The number of cheque leaves provided for the accounts are as follows:
   1. PNB Silver: 100
   2. PNB Gold: 200
   3. PNB Diamond: 300
   4. PNB Platinum: 600
8. Similarly, the concessions and charges on cash deposits made to the accounts differ based on each variant and they are as follows:
   1. PNB Silver: Upto Rs.2 lakh can be deposited at the bank branch free of charge every day. Deposits made above this amount come with additional transaction fees.
   2. PNB Gold: Upto Rs.5 lakh can be deposited to the account each day. A certain fee is applicable for charges made above this limit.
   3. PNB Diamond: Upto Rs.5 lakh cash deposits can be made to the account every day. Transactional fees are applicable for deposits above the limit mentioned.
   4. PNB Platinum: Upto Rs.10 lakh in cash deposits can be made free of charge on a daily basis. Amounts above Rs.10 lakh attract a transactional fee.
9. Cash withdrawal transactions made at the bank where the account is held do not attract any charges.
10. Doorstep banking facilities are provided free of charge to individuals who hold the Gold, Diamond, and Platinum account.
11. The sweep-in facility is not mandatory and the account holder can choose to opt out of the service.
12. Corporates, proprietors, partners, and individuals can obtain a credit card against their Smart Banking Current Account after maintaining the standards expected of the account consistently for a period of 3 months.
13. If the account holders operate their account in accordance with the rules set by PNB, account holders can avail instant credit of outstation cheques at any point regardless of the number cheques issued.
14. The above-mentioned privileges are only extended when the account holder maintains the quarterly average balance in the previous quarter.

The PNB Smart Banking Current Account is part of the bank's vision to become the most preferred bank and set a benchmark of excellence in the banking industry.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.