The Punjab National Bank (PNB) Basic Savings Bank Deposit Account (BSBDA) is a savings account for all. Any individual aged 10 years and above, or minors under guardian/parents, visually impaired or illiterate applicants can also open a savings account under this scheme.
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.
- Applicant should be at least 10 years old.
- Minors will be allowed to open an account under a parent or guardian.
- Visually impaired as well as an illiterate individual is 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 holder 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 - Account Holder of the BSBDA receives a cheque book comprising of 20 leaves in a year, issued by the bank branch. The bank does not charge any fee towards the first 20 cheques for a year, post which normal cheque book charges apply.
- 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 at the Punjab National Bank’s registered 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 to 11:00||Nil||Rs.25 + Service Tax||Rs.50 + Service Tax|
|11:00 to 13:00||Rs.2||Rs.27 + Service Tax||Rs.52 + Service Tax|
|13:00 to 16:30||Rs.5||Rs.30 + Service Tax||Rs.55 + Service Tax|
|After 16:30||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.