PNB Saving Account

Last Updated 22nd May 2019

PNB Savings Account Interest Rate India May 2019

PNB Saving Deposit(General) Account
Interest Rate Upto Rs. 50 Lakh : 3.50%
Above Rs. 50 Lakh : 4.00%
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Minimum Account Balance Rs. 500 to 1,000
Debit Card ATM Cum Debit card
  • Fast remittance of funds through NEFT/RTGS
  • Acceptance of standing instructions
  • Safe Deposit Lockers available online also
  • Online opening of account facilitated

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PNB Online Saving Account

Punjab National Bank, Indian first Swadeshi Bank, and also the first bank purely managed by the Indians with Indian Capital.

Saving Account in PNB – Benefits

You get the following benefits while opening Savings Account with PNB

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

PNB Saving Account – charges

Balance non maintenance charges : Rs. 15 to Rs. 250
ATM Charges: From Rs. 15 to 250 as per location, category and deficit in QAB as per brackets in Rs.100

PNB Savings Account

PNB offers an interest rate of 3.50% - 4.00% p.a. PNB also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
Saving Deposit(General) Account 18 years Rs. 500 to 1,000
Premium Saving Account Product 18 years QAB Of Rs. 50,000
PNB Prudent Sweep for Individuals 18 years QAB Of Rs. 5,000 for Rural or Semi Urban and Rs. 10,000 for Urban or Metro areas
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
Total Freedom Saving Fund Salary Account Nil
High End Salary Account Nil
Family Protection Account 25 years N.A
PNB Junior SF Account 10 years Nil
PNB Vidyarthi SF Account 21 years N.A
Basic Saving Bank Deposit Account (BSBDA) 18 years Nil
PNB Rakshak Scheme 18 years N.A
PNB Shikshak Sweep Scheme 18 years Nil
Scheme For Providing Overdraft Facility To Pensioners 18 years N.A
PNB Power Savings 18 years Rs. 500 in Rural, Rs. 1,000 in urban

PNB Savings Account Products

Saving Deposit(General) Account

General savings deposit account can be opened by resident individuals: singly or jointly, Associations, Trusts, Hindu Undivided Families, Clubs, Societies etc to ease their banking requirements.

This account is for resident Indians of 18 years of age and above

Features of Saving Deposit(General) Account

  • Fast remittance of funds through NEFT/RTGS
  • Acceptance of standing instructions
  • Safe Deposit Lockers available online also
  • Online opening of account facilitated

Debit Card Offered : ATM Cum Debit card

Balance Non Maintenance Charges : Rs. 15 to Rs. 250

Premium Saving Account Product

This type of account can be opened by individuals either singly or jointly, Associations, Trusts, Hindu Undivided Families, Clubs, Societies etc to ease their banking requirements.

This account is for resident Indians of 18 years of age and above

Features of Premium Saving Account Product

  • 60 cheque leaves free in a year
  • 50 percent concession in locker rent for the first year
  • RTGS or NEFT is free

Debit Card Offered : Platinum Debit Card

PNB Prudent Sweep for Individuals

This account can be opened by the customers as per the RBI guidelines. Special benefits are offered to the Staff members of PNB under this scheme.

This account is for resident Indians of 18 years of age and above

Features of PNB Prudent Sweep for Individuals

  • Sweep in or out shall take place after the cut off balance of Rs. 1 Lac and in multiples of Rs. 10,000

Balance Non Maintenance Charges : Rs. 150 per quarter for Rural or Semi Urban areas and Rs. 300 for Urban or Metro areas

PNB SF Prudent Sweep for the Accounts of Institutions

Certain listed eligible institutions are permitted for opening Saving Fund Accounts

Features of PNB SF Prudent Sweep for the Accounts of Institutions

  • Upto 2 remittances with the maximum amount of Rs. 25,000. For both remittances in a month 100 cheque leaves in a financial year
  • Internet banking services IBS
  • Free Collection of Outstation Cheques Upto the maximum amount of Rs. 25,000 in a month

Balance Non Maintenance Charges : Rs. 150 per quarter for Rural or Semi Urban areas and Rs. 300 for Urban or Metro areas.

Total Freedom Saving Fund Salary Account

An attractive Saving Fund Account to corporate employees for enabling them to have their salary credited as well as availing overdraft facility.

This account can be opened by a company with at least 10 accounts or 75 percent of strength of permanent employees whichever is lower

Features of Total Freedom Saving Fund Salary Account

  • Overdraft facilty upto Rs. 50,000 or last salary credited in the account whichever is lower
  • 40 cheques leaves free per annum in addition to 40 allowed to general customers
  • RTGS or NEFT Transaction is free if routed through the account
  • 50 percent discount in one locker
  • 50 percent discount on Demat account maintenance charges levied by bank for first year only

Debit Card Offered : PNB Debit or ATM Card

Balance Non Maintenance Charges : None

High End Salary Account

Second Variant of Total Freedom Salary Account.

This account can be opened by a company with at least 10 accounts or 75 percent of strength of permanent employees whichever is lower

Features of High End Salary Account

  • Platinum Debit Card, Interest certificate, Statement of account
  • 50 percent discount on Demat Account and 50 percent discount on lockers for first year only

Debit Card Offered : Platinum Debit Card

Balance Non Maintenance Charges : None

Family Protection Account

With the Family Protection Account, you get many privileges and benefits to secure or protect your family's financial requirement.

This account can be opened by resident indians from the age group of 25 to 60 years

Features of Family Protection Account

  • Insurance Plan : Term with Return of Premium Option TROP
  • Coverage Term Options: 10 years and 15 years
  • Monthly income Options Rs. 10,000 and Rs. 25,000

PNB Junior SF Account

Inculcate the good habit of savings in your minors above the age of 10 years.

This account is specifically for minors above the age of 10 years. Precisely, the age group of 10 to 18 years

Features of PNB Junior SF Account

  • 20 cheque leaves per half year
  • NEFT Free upto Rs. 10,000 per day

Debit Card Offered : RuPay ATM or Debit Card

Balance Non Maintenance Charges : None

PNB Vidyarthi SF Account

PNB Vidhyarthi SF Account is a Zero balance and Zero charges Saving Fund Account specially designed for the students.

This account is designed for students upto 21 years of age studying at various recognised educational institutions

Features of PNB Vidyarthi SF Account

  • Free Demand drafts for all types of fees or examination fees
  • Free retail internet banking services
  • Nil Ledger Folio Charges
  • Nil Incidental Charges

Debit Card Offered : ATM Card or Debit Card

Basic Saving Bank Deposit Account (BSBDA)

This account is for resident Indians of 18 years of age and above

Features of Basic Saving Bank Deposit Account (BSBDA)

  • A cheque book of 20 leaves may be issued free of cost in a year
  • Nomination facility available as per normal rules
  • Saving Fund account can be opened by an individual singly or jointly, minors of the age of 10 years

Debit Card Offered : Debit Card or ATM Card

Balance Non Maintenance Charges : None

PNB Rakshak Scheme

PNB Rakshak Scheme was started by the Punjab National Bank provides personnel belonging to the Indian army, Indian navy, airforce, BSF, CRPF, CISF, ITBP, the state and metro police, etc., to enjoy the benefits of overdraft facility.

This account is for all defence personnel, IB, CBI, RAW and para military personnel, pensioners of Indian army if they draw their pensions through PNB branch

Features of PNB Rakshak Scheme

  • Sweep allowed after Rs. 10,000 and thereafter in multiples of Rs. 1,000
  • Concession in locker charges at 25 percent for first year only
  • RTGS or NEFT is free
  • Concession in margin on Home Loan: 5 percent Upto Rs. 50 Lacs
  • Personal accident insurance benefit upto Rs. 20 Lacs
  • Unlimited cheque book facility

PNB Shikshak Sweep Scheme

PNB Siksha Sweep Scheme is specially designed for all permanent teachers of recognised schools, colleges, educational institutes for providing the special benefits to the teachers and their banking needs.

All Permanent Teachers of recognised schools/colleges/educational institutes are eligible to open this account

Features of PNB Shikshak Sweep Scheme

  • 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 thereafter in multiples of Rs. 1,000 to/from Fixed Deposit
  • Concession in margin requirement on Home Loan upto Rs. 50 Lacs only and Car loan: 10 percent
  • RTGS or NEFT or Intersol is free
  • Concession in Locker Charges for small locker only: 50 percent for first year only

Debit Card Offered : Platinum Debit Card

Balance Non Maintenance Charges : None

Scheme For Providing Overdraft Facility To Pensioners

This was the scheme specially designed by PNB Bank for providing overdraft facilities to the eligible pensioners.

This scheme is for pensioners who are drawing their pension from our branches provided the conduct of the account is satisfactory

Features of Scheme For Providing Overdraft Facility To Pensioners

  • Overdraft to the extent of one month net pension
  • The overdraft is to be regularized from the pension payable for the next month
  • A limit equal to the net monthly pension payable to the pensioner is to be set up. The overdraft limit is to be renewed on yearly basis

PNB Power Savings

PNB power savings account was launched by PNB bank for women empowerment in the country.

This account serves only women Indian Residents above the age of 18 years

Features of PNB Power Savings

  • No NEFT charges
  • Insurance claim of Rs. 5 Lacs is admissible if the QAB in the account during the last calendar quarter remains equal to or more than Rs. 25,000
  • Free Accidental death Insurance cover
  • 25 percent concession in locker rent for first year only

Debit Card Offered : Platinum Debit card

Documents Required

PNB requires the following documents to open a Savings Account

  • Signed application form
  • Income Tax PAN Copy
  • Identity Proof: Driving License, PAN, Passport VoterID.
  • Address Proof: Utility Bill, Property Tax Bill. Any other ID and address proof issued through a competent authority are also valid
  • In case of account for minors, Id and address proof of guardian, Photograph of guardian, Birth proof of minor, Declaration from guardian are required

Frequently Asked Questions on PNB Savings Account

How much interest is charged by PNB on Savings Account?

PNB offers an interest rate of 3.50% to 4.00% on Savings Account.

What is the minimum amount required for opening Savings Account in PNB ?

The minimum amount required for opening Savings Account in PNB is Rs. 500 to 1,000.

What are the balance non - maintenance Charges on PNB Savings Account?

The Balance Non Maintenance Charges on Savings Account by PNB are Rs. 15 to Rs. 250.

What are the PNB ATM Transaction charges on Savings Account?

PNB ATM Transaction charges on Savings Account are From Rs. 15 to 250 as per location, category and deficit in QAB as per brackets in Rs.100.

How does PNB calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by PNB to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does PNB offer Debit card to the account holder?

Yes, various debit cards are offered, differing according to the product. Some of the popular savings account products of PNB with the type of debit card offered are listed in the table below.

Saving Deposit(General) AccountATM Cum Debit card
Premium Saving Account ProductPlatinum Debit Card
Total Freedom Saving Fund Salary Account PNB Debit or ATM Card
High End Salary AccountPlatinum Debit Card
PNB Junior SF AccountRuPay ATM or Debit Card
PNB Vidyarthi SF AccountATM Card or Debit Card
Basic Saving Bank Deposit Account (BSBDA)Debit Card or ATM Card
PNB Shikshak Sweep SchemePlatinum Debit Card
PNB Power SavingsPlatinum Debit card

Interest rate on all SBI deposits products listed in the table above is 3.50% to 4.00%

What is the eligibility criteria to open a savings account in PNB
  • This account is for resident Indians of 18 years of age and above
PNB News - May 2019
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