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
|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|
PNB Prudent Sweep Account FAQs
- Who can open a PNB Prudent Sweep account?
Only individuals are eligible to open a PNB Prudent Sweep account.
- 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.
- 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
- 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.
- 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.