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Punjab National Bank Savings Account

Punjab National Bank incorporates a rich heritage of around 115 years of banking service to the country. Punjab National Bank has been a catalyst in the development of India with the ideology of development and eradication of poverty by funding various self-employment schemes and a robust presence in rural areas. Their portfolio of Savings Bank accounts include a wide range of features and benefits to cater to a huge customer base. It is one of the largest banking entities in the country with more than 5400 branches that are all connected through the Core Banking Solution (CBS) system.

What is a Savings Account?

Punjab National Bank Savings Account

A savings account is the most basic form of deposit account, that is held with a bank or NBFC, which allows a customer to deposit money and earn some interest on it.

A savings account, being easy to open and operate, provides the customer a safe way to store their hard-earned money while earning a nominal return for the deposits. There are various kinds of savings account catering to the needs of every customer.

Features and Benefit of Punjab National Bank (PNB) Savings Account

There are various benefits to having a savings account with Punjab National Bank. Following is an overview.

  • With the advantage of Core Banking Solutions, access your account with ease via Net Banking, Mobile Banking and SMS Banking facilities
  • Highly customizable retail banking solutions to suit individual needs
  • Quicker remittance time for NEFT/RTGS transactions
  • Safe Deposit Lockers available in a large number of branches
  • Specially designed accounts that give additional benefits for women, pensioners, kids and army servicemen

Types of Punjab National Bank Savings Accounts

Saving Deposit (General) Account

  • A basic savings bank account with a low opening balance of just Rs. 500
  • 20 free personalised multi city cheque leaf every 6 months
  • Free internet banking
  • Deposits are insured by DICGC
  • Free ATM Cum Debit card for individual account holders
  • Safe Deposit Lockers facility available online too

Premium Saving Account Product

  • A premium savings account that provides many banking services free of cost and levies very low charges for some of the premium services
  • Free Platinum Debit card with 2 add on cards
  • Accidental Cover of Rs. 2 Lakh
  • 50% discount on cash deposit charges at non-home branches
  • 50% discount on processing fee of housing & car loans
  • Special rebate on locker rents

PNB Prudent Sweep For Individuals

  • Specially designed for individuals
  • Auto Sweep-out facility on balance above Rs. 1 lakh
  • Free cheque book of 100 cheque leaves in a financial year
  • 50% concession on Demat Account Maintenance Charges for the first year

PNB SF Prudent Sweep For The Accounts Of Institutions

  • Specially designed for Institutions
  • Low opening deposit of Rs. 500
  • Auto Sweep-out facility
  • Ease of transaction via Internet Banking services
  • No charges for collection of outstation cheques

Family Protection Account

  • A savings account clubbed with insurance for the account holder
  • Account holder enrolled for Family Income Protector Plus, a term plan with Return of Premium option

PNB Junior SF Account

  • A zero-balance account created to encourage kids to save and manage money on their own
  • Kids above 10 years of age are allowed to operate the account independently
  • This account does not require an initial opening deposit or the maintenance of a minimum monthly balance

PNB Vidyarthi SF Account

  • A savings bank account customized to suit the needs of students of various recognized educational institutions
  • Helps them conduct basic banking services until completion of their education
  • Account available to the students until they attain the age of 21
  • Offers various banking services like DDs, ATM cum Debit card, cheque book facility and cash withdrawals and deposits in non-home branches without any charges

Basic Saving Bank Deposit Account (BSBDA)

  • A basic zero-balance account with cheque book facility. One free cheque book, of 20 leaves, issues per year
  • No cap on the number of deposits into the account
  • Withdrawals limited to 4 per month

PNB Rakshak Scheme

  • A savings bank account offered to honour all defence personnel (army, naval/air force) including BSF, CRPF, CISF, ITBP, Indian coast guard, State & Metro Police, IB, CBI, RAW & Para-military personnel
  • Auto Sweep-out facility from savings account to FD & vice-versa
  • Overdraft facility available for sum upto last two months salary
  • No AMC charges on ATM/debit cards
  • Insurance cover linked to salary credit instead of ATM/Debit card
  • Free Classic or Platinum ATM/Debit card
  • Free NEFT/RTGS
  • Concessions on locker rent

PNB Shikshak Sweep Scheme

  • Savings account tailored for Permanent Teachers of recognised schools/colleges/educational institutions
  • Zero balance account with no minimum balance requirement
  • Auto Sweep-in and Sweep-out facility
  • Free personalized Platinum ATM cum Debit card for all account holders
  • Concession in margin requirement for Home Loans
  • Free cheque books, NEFT/RTGS transactions

PNB Power Savings

  • Designed for Women
  • Additional Rewardz points for transactions through Internet banking and Mobile banking
  • Free Accidental Death Insurance cover

PNB Pension Savings Account

  • A Savings Bank Account chiefly for Pensioners
  • Zero balance account which does not require minimum quarterly average balance
  • 20 cheque leaves free for every 6 months
  • One DD for up to Rs.25000 without any charges
  • NEFT/RTGS transactions without any charges

New Salary Saving Products

  • A Savings Bank Account designed especially for Employees of central/state Govt./PSU/ Govt-semi Govt Corporation/MNCs/ Reputed Institutions/Reputed Corporates/Reputed Educational Institutions, whose salary shall be credited into this account
  • 4 types of Salary Accounts available – Normal, Gold, Premium & Platinum
  • This is a zero-balance account
  • Free cheque books for all account holders
  • No charges for NEFT/RTGS transactions
  • Free Rupay Classic//Platinum debit card
  • Discounts on locker rents
  • Discounts on Documentation & Processing fees of Housing, Car and Personal loans

PNB Bank Savings Account Minimum Balance

Punjab National Bank requires its customers to maintain a Quarterly Average Balance (QAB) on their Savings Accounts

Type of Savings AccountQuarterly Average Balance Required
Saving Deposit (General) Account

Rural - Rs.1000/-

Semi- Urban - Rs.2000/-

Urban - Rs.2000/-

Metropolitan - Rs.2000/-

Premium Saving Account ProductRs. 50000/-
PNB Prudent Sweep For Individuals

Rural/Semi-Urban - Rs. 5000/-

Urban/Metro areas - Rs.10000/-

PNB SF Prudent Sweep For The Accounts Of Institutions

Rural/Semi-Urban - Rs. 5000/-

Urban/Metro areas - Rs.10000/-

Family Protection AccountRs. 50000/-
PNB Junior SF AccountNIL
PNB Vidyarthi Savings Fund AccountNIL
Basic Saving Bank Deposit Account (BSBDA)NIL
PNB Rakshak SchemeNIL
PNB Shikshak Sweep SchemeNIL
PNB Power Savings

Rs.500/- in Rural

Rs.1000/- in others

PNB Pension Savings AccountNIL
New Salary Saving ProductsNIL

Punjab National Bank Savings Account Interest Rate

Punjab National Bank offers an interest of 3.5% for balance below Rs. 50 Lakh and 4% for balance above Rs. 50 lakh. This interest rate changes periodically based on market guidelines and customers should check with the bank before opening an account

Punjab National Bank Savings Account Charges

Various fees & charges are levied for the different services offered by the bank. It is advisable to contact the bank for the latest list of charges.

How to open a Punjab National Bank Savings Account?

Punjab National Bank offers the convenience of opening an account online or at your nearest branch.

You can walk into your nearest Punjab National Bank branch with the required documents and open an account instantly. You can also apply online and a bank representative will contact you and come in person to collect the documents from your doorstep.

Punjab National Bank Savings Account FAQS

1. How much interest can I get on Savings Account? When is the interest credited to my account?

Punjab National Bank offers an interest rate of 3.50% to 4.00% on Savings Account. Interest on Savings Account is calculated on Quarterly basis.

2. Is there a minimum initial deposit to open a savings account?

The minimum initial deposit amount required to open a savings bank account varies from Rs. 500 to Rs. 1000

3. Does Punjab National Bank offer debit cards for savings account?

Yes, different types of debit cards are offered to different Savings Bank account holders.

4. Who is eligible to open a savings bank account with Punjab National Bank?

Any Indian citizen above the age of 18 years is eligible to open a savings bank account with Punjab National Bank.

5. Are there any charges for non-maintenance of Quarterly Average Balance (QAB) in my Savings Account?

Many of the Savings Bank accounts do not require you to maintain QAB. Wherever specified, a nominal charge of Rs. 15 to Rs.250 is charged for non-maintenance of QAB.

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