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PNB Prudent Sweep Account

PNB Prudent Sweep Account is a savings deposit account offered by Punjab National Bank for individuals. This savings account comes with excellent features and benefits and is one of the most sought-after savings deposit accounts among account holders.

Features and benefits of PNB Prudent Sweep account

  • Customers can open a PNB Prudent Sweep account with an initial deposit of Rs.500
  • The minimum quarterly average balance is Rs.5,000 for rural and semi-urban areas and Rs.10,000 for urban and metro areas
  • The tenure ranges from 7 days to one year
  • Customers get 2 free remittances and collection of cheques up to Rs.25,000 per month
  • 100 free cheque leaves in a financial year
  • Internet banking services
  • ATM card facility
  • 50% concession on annual maintenance charges for demat services for the first year only
  • Swipe in on these accounts will take place after the cut -ff balance of Rs.1 lakh and in multiples of Rs.10,000
  • Swipe out will take place on 5th, 15th, and 25th of every month. If there is a holiday on any one of these days, swipe out will be on the next working day

Documents required to open a PNB Prudent Sweep account

The following documents are required to open Punjab National Bank Prudent Sweep 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 PNB Prudent Sweep account?

  • Customers who wish to open a PNB Prudent Sweep 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

Category Fee
NEFT Transfer
  • Up to Rs.10,000: Rs.2.50 + service tax
  • Rs.10,000 to Rs.1 lakh: Rs.5 + service tax
  • Rs.1 lakh to Rs.2 lakhs: Rs.15 + service tax
  • Above Rs.2 lakhs: Rs.25 + service tax
Demand draft revalidation Rs.100
Demand draft cancellation charge
  • For draft up to Rs.1,000, the fee is Rs. 20 per draft
  • For draft above Rs.1,000, the fee is Rs. 100 per draft
Cancellation of instruments Rs.100
Issuance of duplicate demand drafts
  • Upto Rs.10,000: Rs.100
  • Above Rs.10,000 to Rs.1 lakh: Rs.125
  • Above Rs.1 lakh: Rs.150
Issuance of passbook Free
Account closure charges Rs.100 if the customer closes the account within 1 year of its opening
Balance enquiry Free
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

PNB Prudent Sweep Account FAQs

  1. Who can open a PNB Prudent Sweep account?

    Only individuals are eligible to open a PNB Prudent Sweep account.

  2. Will I incur incidental charges?

    Yes. Incidental charges will be levied per quarter if the stipulated quarterly average balance is not maintained. Rs.150 will be charged for rural and semi-urban areas while Rs.300 will be charged for urban and metro areas.

  3. What are the charges for NEFT transactions?

    No fee is charged for inward remittance. For outward NEFT transactions, the fees 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.1,00,000 to Rs.2,00,000 Rs.15 + service tax
    Above Rs.2,00,000 Rs.25 + service tax
  4. Will I be charged any fees if my debit transactions exceed 50?

    Yes. There is a charge if you exceed the first 50 free debit card transactions. You will be charged Rs.5 for every extra debit transaction.

  5. Do I have Safe Depsoit Locker Facility?

    Yes. You can make use of the bank’s Safe Deposit Locker Facility.

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

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