The Punjab National Bank (PNB) High End Salary Account is a second variant of Total Freedom Salary Account. With zero initial deposit, this account is for permanent employees of an organisation who receive a monthly salary of Rs.1 lakh and above. As it is a salary account, the salary is credited into this account, after which account holders can enjoy facilities such as overdraft, etc.
Eligibility criteria for opening a PNB High End Salary Account:
The following eligibility criteria must be fulfilled in order to apply for the PNB High End Salary Account:
- Applicant should have a minimum of 10 accounts, (or)
- Applicant should have 75% of strength of permanent employees or in that location, whichever is lower.
Features and benefits of PNB High End Salary Account:
The important features and benefits of the savings account are:
- Quarterly Average Balance – The High End Salary Account at PNB does not require account holder to have a Quarterly Average Balance. The bank also does not charge any fine for not maintaining any QAB.
- Overdraft facility – Overdraft facility on this account is up to Rs.1,00,000, or equal to the last drawn salary, whichever is lower. The facility can be availed at an interest rate applicable to PNB’s personal loans. The overdraft is adjusted in the next six months.
- Discounts on facilities – Account Holders of the PNB High End Salary Account can also enjoy benefits such as 50% discount on opening a Demat account as well as a 50% discount on lockers for the first year.
- Cheque book facility - Account Holder of the High End Salary Account receives a cheque book for free, which can be used for general use. However, for bulk use for EMIs or FI, it is chargeable.
- Nomination facility – All nomination rules are applicable in this account and account holder can avail the nomination facility.
- Platinum Debit Card – Punjab National Bank also provides an ATM-cum-Debit Card facility at the time of opening a High End Salary Account. There are no additional charges for availing this facility.
Documents required for PNB High End Salary Account:
The following documents are required to open a Punjab National Bank High End Salary Account:
- Duly filled application form.
- Documents such as Passport, Driving License, Voter’s ID, Aadhaar Card, as Identity proof.
- For address proof, you will be required to submit documents such as utility bills, Passport, Aadhaar Card, Voter’s ID, etc.
- PAN card or Form 60/61 if PAN not available.
- Any other specific document as mandated by the bank.
How to apply for a Punjab National Bank High End Salary Account:
You can open a PNB High End Salary Account 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||
|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|
|Registration fee for standing instruction||Rs.50|
|Execution of standing instruction||Rs35 + Remittance Charges+ Out of pocket expenses|
|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|
|Account closure charges||Rs.100 if the customer closes the account within 1 year of its opening|
The following charges are levied by PNB on NEFT transactions made by the account holder:
|Up to Rs.10,000||Rs.2.50|
|Rs.10,001 – Rs.1 lakh||Rs.5|
|Rs.1,00,001 – Rs.2 lakh||Rs.15|
|Above Rs.2 lakh||Rs.25|
*Service Tax is also added to the charges.
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||Rs.50|
|11:00 to 13:00||Rs.2||Rs.27||Rs.52|
|13:00 to 16:30||Rs.5||Rs.30||Rs.55|
*Service Tax is also added to the charges.
Punjab National Bank High End Salary Account FAQs
- Do I have to pay PNB for not maintaining QAB?
No, you are not required to pay any charges for not maintaining QAB as the requirement is zero.
- Am I eligible to avail any discount on opening of a Demat account with the High End Salary Account?
Yes, you can avail a 50% discount when you open a Demat account with the High End Salary Account.
- Can I appoint a nominee for the account?
Yes, nomination facility is available in this account.
- If I am a temporary employee of a company, can my company open a High End Salary account for me as well?
No, the account is only for permanent employees of a company.
- Does Punjab National Bank levy any charges for issuing a Platinum Debit Card?
No, the bank does not require you to pay any fee towards a Platinum Debit Card in this account.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.