Punjab and Sind Bank Savings Account

The bank offers a wide range of savings accounts to cater to the needs of its different customers. The savings accounts options currently offered by them are listed below:

Type of Savings Account	Primary Features
Small Savings Account	Easy to open Leeway in terms of documents required
Basic Savings Bank Deposit Account	Zero balance savings account Free of cost ATM-cum-Debit Card
Saving Bank Account	Easy to maintain ‘savings account’ Easy deposits and withdrawals across the branches
PSB-Premier Savings Bank Accounts	Free ATM card Free account statement on demand

1: Small Savings Accounts: If a customer does not have any essential document applicable in respect of opening a standard savings account, then this account may be opened by the bank for that individual. Here are some common features of this account:

Small Savings Account	Features
Initial Deposit Amount	Zero balance account
Maximum Limit of Balance	Rs. 50000
Limit on the aggregate of all credits in one year	Rs. 2 Lakh
Foreign Remittances	Allowed only if all valid documents produced

2: Basic Savings Bank Deposit Account: This is a no-frills saving account packed with multiple banking features and benefits. Look at the following table to know more about the account:

Basic Savings Bank Deposit Account	Features
Minimum Balance Requirements	Zero balance account
Limit on Deposits	No limit on the  number of deposits in a month
ATM Debit Card	Yes, free ATM cum debit card
Eligibility	Indian residents with complete KYC can open Basic Savings Bank Deposit Account, students are eligible if submit documents issued by school authorities or parents

3: Savings Bank Account: This savings account is designed to inculcate the habit of regular savings. Apart from this, the savings account offers a good balance of standard banking services and unique features to the account holder.

Savings Bank Account	Features
Minimum Balance Requirements	With checkbook: Rs. 1000 Without checkbook: Rs. 500
Maximum Limit of Balance	Any amount can be deposited by the account holder
Mode of Deposits and Withdrawals	Via cheque or slip
Eligibility	Indian residents and certain agencies and organizations approved or authorized by the Reserve Bank of India (RBI)

4: Premier Savings Bank Accounts: An account specifically targeted at high net worth customers. The savings account offers a number of great banking services at zero additional charges. Waiving off the facility on rented lockers, education and personal loans are some of the many features.

Premier Savings Bank Accounts	Features
Minimum Balance Requirements	Metro and Urban Branches: Rs. 2 Lakh Semi-Urban and Rural Branches: Rs. 50000
Statement provided	Yes, free of cost
ATM Debit Card	Free
Small locker	Yes, free of cost for the first year

To open a savings account with this bank, the prospective customer has to provide a set of essential documents mentioned by the Reserve Bank of India in the guidelines of Know Your Customer (KYC) segment:

Proof of address:

• Aadhaar Card
• Utility bills
• Passport
• Driving license
• Credit card statement
• Employer’s/Public authority’s Letter with an address

Proof of Identity:

• Passport
• Aadhaar Card
• PAN Card
• Voters Identity Card
• Driving License
• Photo Credit Card
• Identity Card (subject to Bank’s satisfaction

Other documents like forms for the savings account, photographs, etc. are imperative.

Visit the official website of the bank and download the account opening form. After taking a printout of the form, fill out all the details and submit it to your nearest branch along with self-attested KYC documents (address and ID proof). After submission, customers will get a ‘Starter Kit’. Once the verification process is done, you can begin using your account for transfer and other activities.

You can also apply offline. Just visit the nearest branch of Punjab and Sind Bank with your documents. Submit the duly filled form and KYC documents to the counter. Bank will verify the details given. Once the process is completed, you will be provided with the kit and you may start using your account once notified.