Punjab National Bank encourages their customers to keep their financial savings in the custody of the bank which will in return allow them to earn interest on it. While the bank offers many types of saving accounts, the Premium Savings Account is quite popular among account holders.
Features and benefits of Punjab National Bank Premium Savings Account
- The minimum average quarterly balance should be Rs.50,000 or more for Punjab National Bank Premium Saving Account holders
- Customers can open a Punjab National Bank Premium Savings Account by depositing Rs.500 if they reside in rural places and Rs.1,000 if they reside in urban places
- No non-maintenance charges will be charged if the minimum average quarterly balance of Rs.50,000 is maintained
- No Inter-sol transfer within the city
- Nil charges on ISO transfer of funds to accounts at outstation branches
- Cash withdrawal at all branches is free
- Cash deposit at any base branch is free
- 50% discount will be applicable if cash deposit is made in a non-base branch
- 50% discount is given on upfront fee or processing fee while availing loan if the customer has maintained the minimum quarterly balance for the last 2 quarters
- No charges on NEFT and RTGS transactions
- Nil stop payment instruction charges
- Free account statements available every month
- Punjab National Bank Premium Saving Account holders will get Platinum Debit Card with 2 add- on cards with maximum accidental insurance cover of Rs.2 lakh
- Punjab National Bank Premium Saving Account holders get 50% concession on locker rent for the first year
- 60 free cheque leaves available in a year for all Punjab National Bank Premium Savings Account holders
Who can open a Punjab National Bank Premium Savings Account?
Resident individuals (either singly or jointly), Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc can open a Punjab National Bank Premium Saving Account. Institutions specially permitted by RBI can also open a saving deposit general account with PNB.
Documents required to open a Punjab National Bank Premium Savings Account
The following documents are required to open Punjab National Bank Premium Saving Account:
- One passport size colour photograph
- Identity proof like passport/driving license/voter's ID/photo debit/credit card
- Address proof like passport/driving license/voter's ID/utility bill
- Duly-filled account opening form
- PAN card or Form 60/61 where PAN card is not available
- Birth certificate of the minor
How to apply for a Punjab National Bank Premium Savings Account?
- Customers who wish to open a Punjab National Bank Premium Savings Account can visit the bank’s registered website and open the account online by filling the form available and submitting it.
- Alternatively, customers can visit a PNB branch and fill the account opening form and submit it to the bank officer.
Fees and charges
|Demand draft revalidation||Rs.100|
|Demand draft cancellation charge||
|Cancellation of instruments||Rs.100|
|Issuance of duplicate demand drafts||
|Issuance of passbook||Free|
|Account closure charges||Rs.100 if the customer closes the account within 1 year of its opening|
|Collection of local cheques through clearing||Free|
|Registration for standing instruction||Rs.50|
|Execution of standing instruction||Rs.35 + Remittance Charges+ Out of pocket expenses|
|Transfer of funds between accounts at all the branches||Free|
|For presenting cheque at outstation branches through inward clearing||Free|
|Collection of cheques through non-base outstation branches||Free|
|IMPS charges||Rs.5 per transaction plus service tax|
|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|
- Are there any charges for issuing MICR/multicity/personalised cheque book?
Yes. The fee for issuing any of the above cheque books is Rs.3 per cheque leaf for non-individuals, Rs.2.50 per cheque leaf for individuals, and Rs.2.25 per cheque leaf for senior citizens.
- What are the charges for NEFT transactions under Punjab National Bank Premium Saving Account?
The charges for outward NEFT transactions are as follows:
Amount Fees Up to Rs.10,000 Rs.2.50 + service tax Rs.10,000 to Rs.1,00,000 Rs.5 + service tax Rs.1 lakh to Rs.2 lakh Rs.15 + service tax Above Rs.2 lakh Rs.25 + service tax
- Can I use the safe deposit locker facility offered by the South Indian Bank?
Yes. You can use the safe deposit locker facility offered by the South Indian Bank.
- Is Demat facility available for Premium Savings Account holders?
No. Unfortunately, demat facility is not available for Premium Savings Account holders.
- How can I apply for a cheque book?
You will get the first cheque book free of cost upon request as a Premium Savings Account holder. You can request for another chequebook online or by visiting the bank.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.