Punjab National Bank Savings Account
|Particulars||Rate of Interest|
|Saving Deposits Balance below Rs.50 lakh||3.00% p.a|
|Saving Deposits Balance of Rs.50 lakh and above.||3.00% p.a|
Punjab National Bank Savings Account
PNB provides various savings accounts that allow people to deposit money, keep it secure, and withdraw funds while earning interest. It offers a savings account tailored to the needs of various customer groups and caters to their needs. For example, it provides a Premium savings account to its high-end customers, and Minor savings account to children under 18. The bank provides many services, including online banking and mobile banking, and several savings account products have no minimum balance requirement.
On the minimum average balance held in the savings account, PNB provides an interest rate ranging from 3.00 percent to 3.50 percent. It computes the regular interest rate on savings bank accounts. The interest, on the other hand, is charged to account holders per fifth. Youth and minors may receive additional benefits on their PNB Savings Account.
Features and Benefits of Punjab National Bank Savings Account
PNB Savings Accounts assist you in saving money by paying interest on idle funds invested in savings accounts. The interest rate on a PNB Savings Account varies depending on the Savings Account product. The following are some of the main features and advantages of a PNB savings account:
- It has interest rates ranging from 3.00 percent to 3.50 percent per annum. PNB Savings Account can be accessed from anywhere thanks to a vast network of branches and ATMs.
- If you want to move funds from your PNB Savings account to another bank account, you can do so using RTGS, IMPS, NEFT, and UPI.
- A minimum balance of Rs. 500 to 1,000 is needed to maintain a PNB Savings account.
- PNB’s personalized account number and checkbook increase protection and guarantees the safety of your assets.
- With a PNB Savings Account, you can receive SMS alerts and e-statements.
- PNB’s Auto Sweep Facility allows you to connect your account to a Multi Option Deposit MOD account.
Punjab National Bank Savings account Charges
|Product||Minimum Balance||Interest Rate|
|Saving Deposit (General) Account||Rs. 500 to 1,000||3.00% – 3.50%|
|Premium Saving Account Product||QAB Of Rs. 50,000||3.00% – 3.50%|
|PNB Prudent Sweep for Individuals||QAB Of Rs. 5,000 for Rural or Semi-Urban and Rs. 10,000 for Urban or Metro areas||3.00% – 3.50%|
|PNB SF Prudent Sweep for the Accounts of Institutions||QAB Of Rs. 5,000 for Rural or Semi-Urban and Rs. 10,000 for Urban or Metro areas||3.00% – 3.50%|
|Total Freedom Saving Fund Salary Account||NIL||3.00% – 3.50%|
|High-End Salary Account||NIL||3.00% – 3.50%|
|Family Protection Account||3.00% – 3.50%|
|PNB Junior SF Account||NIL||3.00% – 3.50%|
|PNB Vidyarthi SF Account||3.00% – 3.50%|
|Basic Saving Bank Deposit Account (BSBDA)||NIL||3.00% – 3.50%|
|PNB Rakshak Scheme||3.00% – 3.50%|
|PNB Shikshak Sweep Scheme||NIL||3.00% – 3.50%|
|Scheme For Providing Overdraft Facility To Pensioners||3.00% – 3.50%|
|PNB Power Savings||Rs. 500 in Rural, Rs. 1,000 in Urban||3.00% – 3.50%|
Punjab National Bank Savings Account Products
PNB gives various savings account products for several purposes. Some of the general products of PNB savings are:
Saving Deposit (General) Account
To ease their banking requirements, residents can open general savings deposits, either singly or jointly, in Associations, Trusts, HUFs, Clubs, Societies, and so on.
- Funds can be transferred quickly using NEFT/RTGS.
- Acceptance of standing orders
- Online safe deposit boxes are also open.
- Account opening is now possible online.
- To ease their banking requirements, residents can open general savings deposits: singly or jointly, in Associations, Trusts, Hindu Undivided Families, Clubs, Societies, and so on.
Premium Saving Account Product
Individuals, either singly or jointly, Associations, Trusts, Hindu Undivided Families, Clubs, Societies, and so on, can open this form of account to meet their banking needs.
- In a year, there are 60 free cheque leaves.
- For the first year, there is a 50% discount on locker rent.
- It is free to use RTGS or NEFT.
- This account is open to resident Indians aged 18 and up.
PNB Prudent Sweep for Individuals
Customers may open this account under the RBI’s guidelines. Under this program, PNB employees receive exclusive benefits.
- Sweep in, and out will occur after the cut-off balance of Rs. 1 Lac and in multiples of Rs. 10,000.
- This account is open to resident Indians aged 18 and up.
Total Freedom Saving Fund Salary Account
An appealing Saving Fund Account for corporate workers allows them to have their wages credited and use the overdraft facility.
- Overdraft facility of up to Rs. 50,000 or the account’s last income, whichever is less.
- In addition to the 40 cheques allowed to general customers, 40 cheques are left free each year.
- NEFT or RTGS: If the transaction is routed through the account, it is free.
- For the first year only, there is a 50% discount on one locker and a 50% discount on the bank’s Demat account maintenance costs.
- A company can open this account if it has at least ten accounts or 75 percent of its permanent employee strength, whichever is less.
High-End Salary Account
It is the Total Freedom Salary Account’s second variant.
- Platinum Debit Card, Interest Certificate, Account Statement
- There is a 50% discount on Demat Accounts and a 50% discount on lockers for the first year only.
- An organization should open this account with at least ten accounts or 75 percent of its permanent staff’s strength, whichever is less.
Family Protection Account
The Family Protection Account provides you with several advantages and incentives for securing or protecting your family’s financial needs.
- Insurance Policy: Term with Premium Refund Option TROP Defense Term Choices: ten and fifteen years
- Options for monthly income are Rs. 10,000 and Rs. 25,000.
- Resident Indians between the ages of 25 and 60 will open this account.
PNB Junior SF Account
Instill the habit of investing in your minors over the age of ten.
- NEFT Free up to Rs. 10,000 per day for 20 cheque leaves per half-year
- This account is only available to minors over the age of ten, specifically the age range of 10 to 18.
PNB Vidyarthi SF Account
PNB Vidhyarthi SF Account is a Saving Fund Account with a zero balance and no specifically designed charges for students.
- Demand draughts are available for all forms of fees or review fees at no cost.
- Retail internet banking services are provided at no cost.
- There are no charges for ledger folios.
- There will be no incidental charges.
- This account is intended for students up to 21 who are enrolled in various accredited educational institutions.
PNB Rakshak Scheme
The PNB launched the PNB Rakshak Scheme, which allows personnel from the Indian Army, Indian Navy, IAF, BSF, CRPF, CISF, ITBP, state and metro police, and other organizations to benefit from overdraft facilities.
- Sweep permitted after Rs. 10,000, and afterward in multiples of Rs. 1,000.
- Locker charges are reduced by 25% for the first year only, and RTGS or NEFT are eligible.
- Margin concession on a home loan: 5% Amounts up to Rs. 50 lacs
- Personal accident insurance coverage of up to Rs. Twenty lacs is available.
- Checkbook capacity is unlimited.
- This account is open to all defense personnel, including IB, CBI, RAW, paramilitary personnel, and Indian army pensioners who receive their pensions via the PNB branch.
PNB Shikshak Sweep Scheme
PNB Siksha Sweep Scheme is designed specifically for all permanent teachers of recognized schools, colleges, and educational institutes to offer unique benefits to teachers and their banking needs.
- Sweep In and Out shall take place in Savings Account after the cut-off level of Rs. 15,000, with a minimum, Sweep out/ Sweep In of Rs. 1,000 and after that in multiples of Rs. 1,000 to/from Fixed Deposit Concession in margin requirement on Home Loan up to Rs. 50 Lacs only and Car loan: 10% RTGS or NEFT, or Intersol is free
- This account is available to all Permanent Teachers of recognized schools/colleges/educational institutes.
Scheme For Providing Overdraft Facility To Pensioners
PNB Bank created this program specifically for qualified pensioners to provide overdraft facilities.
- Overdraft up to one month’s net pension
- The overdraft is to be paid back with the next month’s allowance.
- A cap equal to the pensioner’s net monthly annuity is to be established. Every year, the overdraft cap will be extended.
- This policy is for pensioners who receive their pension from one of our branches and whose accounts are in good standing.
PNB Power Savings
PNB bank launched the PNB power savings account to empower women in the country.
- There are no NEFT fees.
- Demand for Rs. 5 lacs is allowable if the QAB in the account during the previous calendar quarter was equal to or greater than Rs. 25,000.
- Free Accidental Death Insurance provides a 25% discount on locker rent for the first year only.
- This account is only available to women Indian residents over the age of 18.
After 7–8 working days from opening a specific savings account, Punjab National Bank will mail a Welcome Package containing a personalized checkbook and ATM Card to the customer’s postal address chosen for correspondence.
Individuals can also open a savings bank account with Punjab National Bank online. Individuals can open an Instasavings account as well as a digital savings account.
To open a savings account with Punjab National Bank, there is no minimum balance requirement. Non-balance maintenance charges are imposed if a person does not maintain the minimum balance.
Also, check out: Punjab National Bank Personal Loan
Punjab National Bank Documents Required Savings Account
- Aadhaar and PAN card are compulsory for Indian citizens
- Identity proof (any one of the following):
- Voter ID card
- PAN card
- Government ID
- Address Proof (any one of the ones mentioned below):
- Driver’s license
- Electricity/other service bills
- Phone bill
- Most recent credit card statement/ other bank details.
- Rental contract
- One original passport-sized picture
FAQs about Punjab National Bank Savings Account
✅ What is the helpline number for the Punjab National Bank savings account?
Individuals can contact Punjab National Bank at 011-39404444 / 011-66014444, which is available 24 hours a day, seven days a week, from all landlines and cell phones in the region.
✅ What is the least balance for a Punjab National Bank savings account?
Punjab National Bank saving account items have different minimum balance requirements. The minimum balance needed to open a Punjab National Bank Basic Banking Account is Zero.
✅ Which is the best Punjab National Bank savings account?
There are several Punjab National Bank savings account options. These accounts are targeted at a particular group of people. Individuals should choose the best product by comparing the interest rate offered, minimum account requirements, and services.
Table of Contents
- 1 Punjab National Bank Savings Account
- 2 Punjab National Bank Savings Account
- 3 Features and Benefits of Punjab National Bank Savings Account
- 4 Punjab National Bank Savings account Charges
- 5 Punjab National Bank Savings Account Products
- 5.1 Saving Deposit (General) Account
- 5.2 Premium Saving Account Product
- 5.3 PNB Prudent Sweep for Individuals
- 5.4 Total Freedom Saving Fund Salary Account
- 5.5 High-End Salary Account
- 5.6 Family Protection Account
- 5.7 PNB Junior SF Account
- 5.8 PNB Vidyarthi SF Account
- 5.9 PNB Rakshak Scheme
- 5.10 PNB Shikshak Sweep Scheme
- 5.11 Scheme For Providing Overdraft Facility To Pensioners
- 5.12 PNB Power Savings
- 6 Punjab National Bank Savings Account Welcome Kit
- 7 Punjab National Bank Savings Account Opening Process
- 8 Punjab National Bank Documents Required Savings Account
- 9 FAQs about Punjab National Bank Savings Account