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PNB Savings Account

PNB Savings Account Online

Last Updated 01st Jan 2021

  • PNB offers a wide range of savings account products for specific customer groups.
  • Minimum balance requirement to open a savings account in PNB is Rs. 500 to 1,000.
  • You can get high returns up to 3.00% on a savings account.
  • Open instant PNB savings account online.
  • Internet banking and mobile banking facility available.
  • The facility of safe deposits locker facility, nomination available in PNB.
Apply for Savings Account

PNB Savings Account

PNB offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Features and Benefits of PNB Savings Account

Benefits of PNB saving Account are as follow:

  • PNB offers an interest rate on saving account in the range of 0.00% to 3.00%.
  • Balance requirement for PNB savings account is Rs. 500 to 1,000.
  • An individual can transfer the PNB savings account to any other branch without changing the account number.
  • Safe deposits locker facility, nomination facility is also available.
  • PNB savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
  • It provides various kinds of debit cards as per account holder’s convenience.
  • PNB offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
  • No charge is levied for passbook service.

PNB Savings account Charges

ProductMinimum balanceInterest RateNon Balance Maintenance Charges
Saving Deposit (General) AccountRs. 500 to 1,0000.00% - 3.00%Rs. 15 to Rs. 250
Premium Saving Account ProductQAB Of Rs. 50,0003.00% - 3.00%--
PNB Prudent Sweep for IndividualsQAB Of Rs. 5,000 for Rural or Semi Urban and Rs. 10,000 for Urban or Metro areas3.00% - 3.00%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 QAB Of Rs. 5,000 for Rural or Semi Urban and Rs. 10,000 for Urban or Metro areas3.00% - 3.00%Rs. 150 per quarter for Rural or Semi Urban areas and Rs. 300 for Urban or Metro areas.
Total Freedom Saving Fund Salary Account NIL3.00% - 3.00%None
High End Salary AccountNIL3.00% - 3.00%None
Family Protection Account3.00% - 3.00%--
PNB Junior SF AccountNIL3.00% - 3.00%None
PNB Vidyarthi SF Account3.00% - 3.00%--
Basic Saving Bank Deposit Account (BSBDA)NIL3.00% - 3.00%None
PNB Rakshak Scheme3.00% - 3.00%--
PNB Shikshak Sweep SchemeNIL3.00% - 3.00%None
Scheme For Providing Overdraft Facility To Pensioners3.00% - 3.00%--
PNB Power SavingsRs. 500 in Rural, Rs. 1,000 in Urban3.00% - 3.00%--

PNB Savings Account Products

PNB offers multiple savings account products for different purposes. Some of the popular products of PNB savings are:

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.

Key Features:

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

Eligibility:

  • This account is for resident Indians of 18 years of age and above can open a sole or joint account.
  • Minors above the age of 10 can also open a savings account.
  • In addition, illiterate and visually impaired persons can also open their account with necessary safeguards.

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.

Key Features:

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

Eligibility:

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

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.

Key Features:

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

Eligibility:

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

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.

Key Features:

  • 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

Eligibility:

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

High End Salary Account

Second Variant of Total Freedom Salary Account.

Key Features:

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

Eligibility:

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

Family Protection Account

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

Key Features:

  • 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

Eligibility:

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

PNB Junior SF Account

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

Key Features:

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

Eligibility:

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

PNB Vidyarthi SF Account

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

Key Features:

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

Eligibility:

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

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.

Key Features:

  • 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

Eligibility:

  • 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

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.

Key Features:

  • 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

Eligibility:

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

Scheme For Providing Overdraft Facility To Pensioners

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

Key Features:

  • 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

Eligibility:

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

PNB Power Savings

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

Key Features:

  • 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

Eligibility:

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

PNB Savings Account Nomination Plan

PNB asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. PNB savings account provides the nomination facility in all the savings products.

PNB Savings Account Welcome Kit

PNB provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Top Applications Offering UPI Facility

PNB Savings Account Helpline

Individuals can call PNB’s 24X7 helpline number 1800-180-2222/ 1800-103-2222, which is accessible from all landlines and mobile phones in the country.

Open saving account with Other Banks online

FAQs

Can I open PNB bank account online?

PNB enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

What is the minimum balance for an PNB savings account?

Minimum balance requirement differs with PNB saving account products. The minimum balance required to open a Saving Deposit (General) Account in PNB is Rs. 500 to 1,000.

Which saving account is best in PNB?

There are various savings account products offered by PNB. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

Can I open PNB account with zero balance?

The minimum balance requirement to open a savings account with PNB is Rs. 500 to 1,000. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.


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PNB News - Jan 2021
  • 2020-12-29 : PNB completes IT integration of all branches of two merged entities
    Punjab National Bank clarified that the customers of the former OBC Bank are now migrated to CBS of PNB wherein they can transact seamlessly via existing branches and digital banking channels like internet banking and mobile banking. The amalgamation of PNB, United Bank of India and OBC has come into effect from April 1, this year. The merger created the second-largest nationalized bank in terms of business and total branches.
  • 2020-08-17 : PNB launched campaign to promote digital banking.
    Punjab National Bank launched DIGITAL APNAYEN a campaign to encourage customers to use digital banking channels. It is striving to encourage customers to use digital channels and participate in the noble cause of donating to the PM CARES Fund for COVID-19 by PNB.
  • 2020-06-04 : PNB cut rates on savings account deposits
    Punjab National Bank reduced the interest rate on savings account deposits by 0.50 percentage point. The new rate for deposits up to Rs 50 lakh stands at 3% from earlier 3.50%. The new rates will effective from 1 June 2020.
  • 2019-08-30 : Government proposes Public Sector Banks Merger to increase profitability
    In a bid to encourage customer and investors confidence in the public sector banks, the Government is planning to merge major PSBs. This includes the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank that will be India’s second-largest bank. The alliance of major banks might increase banks profitability by encouraging investments in savings and current accounts and retail loans growth.
  • 2019-07-09 : Customers to avail free banking services across PSBs soon
    The customers of a Public Sector Banks (PSBs) like State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) will soon get free access to the banking services like transferring money, withdrawing cash, opening new savings account, availing personal and auto loan offers, opening a fixed deposit account among others. Also, the banks will soon be implementing doorstep banking services to ease the life of the customers, especially the senior citizens.
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