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  • Punjab National Bank Savings Account

    Punjab National Bank Savings Account
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    PNB Savings Account

    Savings accounts are provided by banks to its customers, to help them keep their financial savings in the safe custody of the bank, while making them earn an interest on the same. PNB promises complete safety of your money and ensures that it is within your easy reach. The bank offers attractive rates of interest on your savings account, to enhance your earnings. PNB has a widespread network of ATMs across the nation, which enables you to have access to your money as per your convenience. PNB’s online banking facility also provides the same facility. To suit the varied financial need of customers, PNB offers a wide range of savings accounts. Choose the one that suits you best.

    Types of PNB Savings Account

    PNB offers a different types of savings account which give customers the freedom to take their pick. These types are listed below –

    Saving Deposit - General Account

    This type of saving account can be opened by resident individuals - singly or jointly, Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc. Institutions can also open this account, only if specially permitted by RBI.

    PNB Premium Saving Account

    This type of account can be opened by individuals (either singly or jointly), Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc. Each one of these entities have to fulfil the eligibility criteria (domestic depositors) of Reserve Bank of India, with regards to ‘Know Your Customer (KYC) Guidelines’. The cash withdrawal charges at all branches and cash deposit charges at base branch, for this type of account is free.

    Family Suraksha Bachat Khata

    This type of account bundles Term Assurance with Return of Premium (TROP) plan with savings account. In case the Life Insured dies, the monthly income benefit is given to the nominee to help him manage the family’s expenses. This product is an amalgamation of savings fund and insurance plan available to an individual, aged between 25-60 years.

    PNB Prudent Sweep

    PNB Prudent Sweep can be opened as per RBI directives for opening Savings Fund Accounts of individuals/institutions. Sweep In and Out takes place (in savings accounts) provided the account has a balance over Rs. 40,000 (with a minimum sweep-out/ sweep-in of Rs. 10,000). Staff members of PNB can also open accounts under this Scheme.

    PNB Junior SF Account

    Through this account PNB offers an attractive savings fund to minors. Minors above age 10 can open this account and operate it through his/her natural or legally appointed guardian.

    PNB Vidyarthi SF Account

    PNB Vidyarthi SF account can be opened in the name of students. These students must be enrolled at a recognised educational institutions. The account holder will be eligible for this scheme till the age of 21.

    Basic Savings Bank Deposit Account (BSBDA)

    BSBDA can be opened by an individual in his/her name or jointly, minors aged 10 years and above (under guardianship). Illiterates and visually impaired people can also open this account.

    Total Freedom Salary Account

    Corporate employees can have their salary credited to this account, and also enjoy an overdraft facility of up to Rs. 50,000 or the last salary credited (whichever is lower).

    High End Salary Account

    This type of Savings Fund account is for permanent employees (of an organisation) who draw a salary of Rs. 1 lakh and above, per month. Their salary gets credited in this account, and they can enjoy overdraft and other facilities.

    Documents required for Opening a Savings Account with PNB

    The standard documents required to open any kind of savings account with PNB are listed below –

    • Proof of identification issued by the government (PAN, passport, etc.)
    • Proof of residence/address (telephone bill, electricity bill, rental agreement, etc.)
    • Duly filled Account Opening Form
    • Passport size photographs of the person(s) in whose name the account is being opened.
    • Relevant documents in case of Associations, HUF, Clubs, Trust, Society etc.

    PNB Savings Account Minimum Balance

    The minimum balance to be maintained for each type of savings account has been mentioned in the table below.

    Type of Savings Account Minimum Balance
    Savings Deposit - General Account Rs. 500 - for rural areas
    Rs. 1000 - for semi-urban areas
    Rs. 1000 - for urban areas
    Rs. 1000 - for metropolitan cities
    Premium Savings Account Rs. 50,000 and above (minimum Quarterly Average Balance -QAB)
    Junior SF Account Zero minimum QAB
    Prudent Sweep Rs. 5000 - for rural and semi-urban areas
    Rs. 10,000 - for urban areas and metros
    Total Freedom Salary Account Zero
    Vidyarthi SF Account Zero minimum QAB
    Basic Savings Bank Deposit Account Zero

    PNB Savings Account Interest Rates

    PNB offers various savings account schemes at competitive rates of interest to maximise the benefit of account holders. The interest rates vary as per the type of account, and some other factors too. Please refer to the bank’s website or contact the nearest PNB branch to get more clarity on the same.

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