Established as a fully functional bank in the year 1895, Punjab National Bank is one of the leading banks in India that offer various saving deposit accounts with attractive benefits. Known for its simple online opening process, savings deposit accounts offered by Punjab National Bank can be opened by depositing just Rs.500. This way, economically backward people can also open a PNB Savings Deposit General Account.
Features and benefits of Punjab National Bank Savings Deposit General Account
- Nomination facility is available as per rules.
- 50 debit entries allowed in a quarter. No charges will be charged for the first 50 transactions.
- 3rd party cash payments up to a maximum of Rs.50,000 per day is allowed.
- The maximum limit for transfer transactions is Rs.1 lakh per day. There is no limit of maximum amount through withdrawal slip at the base branch.
- Inter-sol cash Payments to account holder himself is restricted up to the limit of Rs.5 lakhs.
- Presently, PNB calculates interest on daily product basis which is 4% per quarter.
- 20 free personalised multi-city cheque leaves will be given every 6 months once.
- The minimum quarterly balance that has to be maintained is as follows:
|Area of the branch||Minimum quarterly average balance required|
- There is no charge for transfer of funds within PNB accounts.
- Free internet banking.
- Customers get an option to transfer their existing savings deposit general account from any other bank to Punjab National Bank without changing their account number.
- All the deposits are insured by DICGC.
- NEFT and RTGS fund transfer options are available.
- Under PNB Savings Deposit General Account, customers can set standing instructions.
- Safe Deposit Locker is available online for customers.
- Customers can open Punjab National Bank Savings Deposit Account online without visiting a bank branch.
Who can open a Punjab National Bank Saving Deposit General Account?
Resident individuals (either singly or jointly), Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc can open a Punjab National Bank Saving Deposit General Account. Institutions specially permitted by RBI can also open a saving deposit general account with PNB.
Documents required to open a Punjab National Bank Saving Deposit General Account
The following documents are required to open Punjab National Bank Saving Deposit General 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 Saving Deposit General Account?
- Customers who wish to open a Punjab National Bank Saving Deposit General 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.
PNB Saving Deposit FAQs
- What are the charges for NEFT transactions under Punjab National Bank Saving Deposit General Account?
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.
- Are there any incidental charges if I do not maintain the minimum quarterly average balance?
Yes. The incidental charges will be based on the location, category, and the deficit in quarterly average balance.
- Do I have Safe Depsoit Locker Facility?
Yes. You can make use of the bank’s Safe Deposit Locker Facility.
- Do I get a chequebook with my Punjab National Bank Saving Deposit General Account?
Yes. You get 20 free personalised multi-city cheque leaves once in every 6 months.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.