The Punjab National Bank (PNB) Basic Savings Bank Deposit Account (BSBDA) is a simple savings bank account that does not require any initial deposit or minimum balance. No charges are levied on the ATM-cum-Debit card. No charges are applicable for re-activation of the account. However, annual maintenances charges will be levied.
Eligibility criteria for opening a PNB Basic Savings Deposit Account:
The following eligibility criteria must be fulfilled in order to apply for the PNB Basic Savings Deposit Account:
- Any individual can open this account, either singly or jointly.
- The Applicant should be at least 10 years old.
- Minors will be allowed to open an account under the guidance of a parent or guardian.
- Visually impaired as well as an illiterate individuals are allowed to apply, keeping the usual safeguards in mind.
Features and benefits of PNB Basic Savings Deposit Account:
The important features and benefits of the savings account are:
- Minimum balance requirement – The Basic Savings Deposit Account at PNB does not require account holders to have a minimum balance in the account. This is a zero balance account and hence is devoid of initial balance ,requirement.
- Cheque book facility - The account holder of the BSBDA receives a cheque book comprising of 20 leaves in a year, issued by the bank branch.
- Debit/ATM Card facility – Punjab National Bank also provides an ATM-cum-Debit Card facility at the time of opening a Basic Savings Bank Deposit Account. There are no additional charges for availing this facility.
- Nomination facility – All nomination rules are applicable in this account and account holder can avail the nomination facility.
- Transaction limit – There is no limit to the number of deposits that is allowed per month. However, a maximum of four withdrawals are permitted in a month. This limit does not apply to ATM withdrawals.
- KYC compliance – The savings account should comply with the RBI instructions on AML (Anti Money Laundering/KYC (Know Your Customer) for opening of bank account.
Documents required for PNB Basic Savings Deposit Account:
The following documents are required to open a Punjab National Bank Basic Savings Bank Deposit Account:
- Duly filled application form.
- Identity proof such as Passport, Driving License, Voter’s ID, Aadhaar Card.
- Address proof such as utility bills, Passport, Aadhaar Card, Voter’s ID, etc.
- PAN card or Form 60/61 if PAN not available.
- Birth certificate in case of a minor applicant.
How to apply for a Punjab National Bank Basic Savings Deposit Account:
You can open a PNB BSBDA by filling in an online application form and submitting it online. The online form can be found on Punjab National Bank’s official website. You can also visit a PNB bank branch and fill the account opening form at the branch.
Fees and charges
|IMPS charges||Rs.5 per transaction plus service tax|
|Demand draft cancellation charge||Up to Rs.1,000 - Rs.20/draft Above Rs.1,000 - Rs.100/draft|
|Demand draft revalidation||Rs.100|
|Issuance of duplicate demand drafts||
|Registration fee for standing instruction||Rs.50|
|Execution of standing instruction||Rs35 + Remittance Charges+ Out of pocket expenses|
|Collection of local cheques through clearing||Nil|
|Collection of cheques through non-base outstation branches||Nil|
|Presenting cheques at outstation branches through inward clearing||Nil|
|Account closure charges||Rs.100 if the customer closes the account within 1 year of its opening|
|Charges for issuing add-on card||Rs.50 per card|
|Charges for issue of duplicate ATM PIN||Rs.25|
|Issue of ATM/Debit Card with photograph of the cardholder||Rs.25|
The following charges are levied by PNB on NEFT transactions made by the account holder:
|Up to Rs.10,000||Rs.2.50 + Service Tax|
|Rs.10,001 – Rs.1 lakh||Rs.5 + Service Tax|
|Rs.1,00,001 – Rs.2 lakh||Rs.15 + Service Tax|
|Above Rs.2 lakh||Rs.25 + Service Tax|
Inward NEFT transactions are free.
Given below are the charges that customers need to pay for RTGS transactions as per time varying tariff on outward RTGS transactions:
|Time of transaction||Time based tariff per transaction||RTGS charges|
|Rs.2 lakh to Rs.5 lakh||Above Rs.5 lakh|
|08:00 a.m. to 11:00 a.m.||Nil||Rs.25 + Service Tax||Rs.50 + Service Tax|
|11:00 a.m. to 1:00 p.m.||Rs.2||Rs.27 + Service Tax||Rs.52 + Service Tax|
|1:00 p.m. to 4:30 p.m.||Rs.5||Rs.30 + Service Tax||Rs.55 + Service Tax|
|After 4:30 p.m.||Rs.10||Rs.30 + Service Tax||Rs.55 + Service Tax|
Punjab National Bank Basic Savings Bank Deposit Account FAQs
How can a nominee make a claim if the depositor of the PNB Basic Savings Deposit Account is no more?
Punjab National Bank requires the nominee to submit proof of death of depositor such a death certificate and a genuine identification proof of the nominee.
Do I have to pay any fee for SMS Alert charges to the bank?
Yes, you are required to pay Rs.15 + Service Tax per quarter in order to avail the SMS alert facility.
Are there any cash withdrawal charges at local non-base PNB branch for savings account customers?
Up to Rs.1 lakh cash withdrawal is permitted in a day, beyond which Rs.1 per Rs.1,000 is charged.
Is there any charge for inward NEFT charges for account holder of the PNB Basic Savings Deposit Account?
No, inward NEFT charges are free for account holders of PNB BSBDA.
What is the minimum balance required to be maintained in the Punjab National Bank Basic Savings Deposit Account?
This is a zero balance account and therefore does not require a minimum balance to be maintained.