Punjab National Bank Savings Account – Features, Interest Rates, Eligibility, Documents

Punjab National Bank enables its customers to open a savings bank account through two modes – online and offline. We have classified the savings account offered by PNB into online and offline channels.

Types of PNB Savings Account	Primary Features
Online Savings Account
Saving Deposit (General) Account	Initial Deposit as low as Rs. 500 Free Internet Banking, Mobile Banking
Premium Savings Account	Low initial deposit (Rural: Rs. 500; Urban, Semi-Urban, Metro: Rs. 1000) Platinum Debit Card on minimum QAB of Rs. 50000
SF Prudent Sweep Deposit Scheme	Initial Deposit as low as Rs. 500 Auto Sweep Facility
Family Protection Account	Free Internet Banking / Mobile Banking Platinum Debit Card
Junior SF Account	No Initial Deposit required Zero Balance Savings Account
Rakshak Scheme	No Initial Deposit or QAB required Auto Sweep Facility
Shikshak Scheme	No Initial Deposit or QAB required Auto Sweep Facility
Vidyarthi SF Account	Zero Balance Savings Account Overdraft Facility (First Year: Up to Rs. 5000; Subsequent Years: Up to Rs. 10000*)
Offline Savings Account
Power Savings Account	Free Rupay Platinum Debit Card ATM Withdrawal Limit of Rs. 50,000; domestic shopping limit of Rs. 1.25 lakhs
Pension Savings Account	Zero Balance Savings Account Free NEFT, SMS alerts
Scheme for OD to Pensioners Account	Overdraft Facility OD Limit to the extent of one month net pension
Basic Savings Bank Account	Free ATM-cum-Debit Card Zero Balance Savings Account
SF Prudent Sweep	QAB: Rs. 5,000 (Rural/Semi-Urban), Rs 10,000 (Urban/Metro) Auto Sweep Facility
New Salary Savings Product	Zero Balance Savings Account Rupay Debit Card

*Overdraft Facility for Subsequent years will be enhanced to Rs. 10,000 if satisfactory.

Punjab National Bank Online Savings Account

1. Saving Deposit (General) Account

PNB Saving Deposit (General) Account	Features
Quarterly Average Balance (QAB)	Rural – Rs. 1000 Semi-Urban/Urban/Metro – Rs. 2000
Interest Rate	2.90% p.a.*
Initial Deposit	Rs. 500
Internet Banking / Mobile Banking Available	Yes
Debit Card	Free Issuance of Debit Card

*PNB provides 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

General Savings Account from PNB is an entry level savings account which can be opened by any individual with an initial deposit of Rs 500. It also provides an ATM cum Debit Card (individuals account) and other benefits like free transfer fund within PNB accounts and free internet banking.

Features & Benefits

Open PNB Savings General Account with an initial deposit as low as Rs 500

Quarterly Average Balance (QAB): QAB Rs 1000/- for Rural, Rs 2000/- for Semi-Urban, Rs 2000/- for Urban & Rs 2000/- for Metropolitan

Free: Internet Banking/ Mobile Banking/ Issuance of ATM/Debit Card

Free : 20 cheque leaves free per half year

Facility Available – Demat account, Nomination, NEFT/ RTGS, SMS alert

Cash Deposit: No Charges at Base branch and free up to Rs.25000/ at Non –Base Branches per Day

PNB Savings Account Interest Rates are up to 4% interest on your savings payable on daily outstanding balance

Eligibility Criteria

All individuals are eligible to open a PNB General Savings Account (Joint saving account option not available). Minors above the age of 10 years are also eligible under natural/legal guardianship. All others subject to eligibility as per RBI Guidelines

2. Premium Saving Account Product

PNB Premium Savings Account	Features
Quarterly Average Balance (QAB)	Rs. 50,000
Interest Rate	2.90% p.a.*
Initial Deposit	Rural – Rs. 500 Semi-Urban, Urban & Metro – Rs 1,000
Internet Banking / Mobile Banking Available	Yes
Debit Card	Platinum Debit Card

*PNB provides 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

Punjab National Bank offers a premium saving account product to provide its premium customers with several premium and exclusive benefits and features. PNB offers Platinum Debit Card with an accidental insurance of Rs 2 lakhs.

Features & Benefits

Initial deposit as low as Rural- Rs. 500/-(Minimum), Semi Urban/Urban & Metro -Rs. 1000/-(Minimum)

PNB Savings Account Interest Rates are up to 4% interest on your savings payable on daily outstanding balance

Quarterly Average Balance (QAB) maintenance requirement of Rs.50,000 & above

Get 40 cheque leaves free per year for free. 20 additional cheque leaves (5 leaves per quarter) will be given on maintaining QAB Rs.50000/- & above

Get Platinum Debit Card on maintaining QAB of Rs.50000 and above with accidental insurance of Rs. 2 lakhs

50% discount in charges for issue of Demand Draft up to Rs.1.50 lac per Quarter

50% concession in small locker rent in first year only

Avail free internet banking, mobile banking, issuance of ATM Debit Card, RTGS/NEFT charges

Additional features like Demat account, Nomination, NEFT/ RTGS, SMS alert

Eligibility Criteria

Premium Saving Account Product from PNB can be opened by Individuals (either individually or jointly), Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc.

3. PNB SF Prudent Sweep Deposit Scheme

PNB SF Prudent Sweep Deposit Scheme	Features
Quarterly Average Balance (QAB)	Rs. 5000 (Rural/Semi Urban) Rs. 10000 (Urban/Metro)
Interest Rate	2.90% p.a.*
Initial Deposit	Rs. 500
Internet Banking / Mobile Banking Available	Yes
Auto Sweep Facility Available	Yes

*PNB provides a 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

Punjab National Bank offers Prudent Sweep Deposit Scheme which provides the facility of automatic balance transfer from savings account to fixed deposit to help you earn higher rate of interest on your savings.

Features & Benefits

Open PNB SF Prudent Sweep Deposit Account with an initial deposit as low as Rs. 500

Maintain Quarterly Average Balance (QAB) of Rs.5000 (Rural/Semi Urban) and Rs.10000 (Urban/Metro)

The balance outstanding above Rs.1 lakh will be automatically transferred to Fixed Deposit on 5th, 15th & 25th of the month in multiple of Rs. 10000 for a period of minimum 7 days and maximum 1 year at the option of customer

Get up to 2 free remittances with maximum amount of Rs.25000 (for both remittances) in a month

Free 100 cheque leaves in a financial year

Avail free internet banking, mobile banking, issuance of ATM Debit Card

Facility Available – Demat account, Nomination, NEFT/ RTGS, SMS alert

Eligibility Criteria

All individuals are eligible to open PNB SF Prudent Sweep Deposit Scheme individually or jointly. Staff Members are also eligible. All others subject to eligibility as per RBI Guidelines

4. PNB Family Protection Account

PNB Family Protection Account	Features
Monthly Income Options	Rs. 10,000/- and Rs. 25000/-
Interest Rate	2.90% p.a.*
Internet Banking / Mobile Banking Available	Yes
Debit Card	Platinum Debit Card

*PNB provides 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

PNB Family Protection Account is a term assurance plan with return of premium plan bundled with Saving Account that provides monthly income benefit to nominee in case of demise of the Life Insured and helps managing the family’s expenses.

Features & Benefits

Entry Age – Min – 25 years & Max 60 years (as on last Birthday) Max entry age to be 60 years for a policy term of 15 yrs. Maximum maturity age-75 Yrs. No medical checkup (only undertaking of good health)

Family Protection Account is an insurance Plan (with coverage term options of 10 years & 15 years) which comes with Term with Return of Premium Option (TROP)

Maturity payment to the customer on survival – Equal to 110% of the total premium paid

Platinum Debit Card- On availing the insurance plan i.e. Family Income Protector Plus

Concession in locker charges for small locker by 25% for 1st year only

Eligibility Criteria

A single individual who is willing to opt insurance product along with saving account falling in the age group 25 years to 60 years as on last birthday. He / She is required to submit a prescribed application form for insurance product along with AOF for SF.

5. PNB Junior SF Account

PNB Junior SF Account	Features
Initial Deposit	NIL
Minimum Balance Requirements	Zero Balance Savings Account
Interest Rate	2.90% p.a.*
Debit Card	Rupay Debit Card
Internet Banking / Mobile Banking Available	Yes (Only View Facility in Self Operated Account)

*PNB provides 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

Punjab National Bank offers attractive saving fund account specially crafted for minor. It is designed to help them understand banking from the very beginning. It comes with exclusive features and benefits for minor above the age of 10 years.

Features & Benefits

Open PNB Junior Account with no initial deposit and is not required to maintain any quarterly average balance

Get free cheque leaves 20 per half year

NEFT Charges- Free up to Rs.10000/ per day

Issue of demand draft – Free for school/College fee

On attaining majority, the account will be converted to SF general account or as per option of the customer subject to eligibility criteria under the product

Eligibility Criteria

PNB Junior SF Account can be opened by a minor of any age through his/her natural or legally appointed guardian. Minors above the age of 10 years (on obtaining satisfactory proof of age) are allowed to open and operate savings bank accounts independently.

6. PNB Rakshak Scheme

PNB Rakshak Scheme	Features
Initial Deposit	NIL
Minimum Balance Requirements	Zero Balance Savings Account
Interest Rate	2.90% p.a.*
Debit Card	Free Rakshak Classic Debit Card / Rakshak Platinum Debit Card
Auto Sweep Facility Available	Yes

*PNB provides 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

Punjab National Bank introduces Rakshak Scheme, which is a specially designed savings account for Defence Personnel, Para Military Forces and Police.

Features & Benefits

Listed below are the several features and benefits of PNB Rakshak Scheme:

The balance outstanding above Rs. 10,000 will be automatically transferred to Fixed Deposit in multiple of Rs. 1,000 for a period of minimum 7 days and maximum 179 days at the option of customer

Get OD facility up to a sum of last two month net salary. This is to be adjusted from the next salaries within a period of six months (Interest-Base Rate+6.50%)

Avail concession for first year locker charges for small locker by 25%

Avail Free Internet Banking/ Mobile Banking/ Issuance of ATM/Debit Card, RTGS/NEFT

Facility Available-Demat account, Nomination, NEFT/ RTGS, SMS alert

Eligibility Criteria

All Defence Personnel (Army, Naval/Air Force), BSF, CRPF, CISF, ITBP, State Police Force, Metro Police, RAW, IB, CBI & ParaMilitary personnel. This is also extended to pensioners if they choose to draw their pensions through PNB Branches.

7. PNB Shikshak Scheme

PNB Shikshak Scheme	Features
Initial Deposit	NIL
Minimum Balance Requirements	Zero Balance Savings Account
Interest Rate	2.90% p.a.*
Overdraft Facility	Rs. 50000 or last salary; whichever is lower
Auto Sweep Facility Available	Yes

*PNB provides 2.90% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 2.90% per annum.

PNB offers a savings account specially crafted for all the permanent teachers of recognized schools/ colleges/ educational institutions.

Features & Benefits

A PNB Shikshak Scheme for all the permanent teachers of recognized schools/ colleges/ educational institutions comes with the following features and benefits:

The balance outstanding above Rs. 15,000 will be automatically transferred to Fixed Deposit in multiple of Rs.1,000 for a period of minimum 7 days and maximum 179 days at the option of customer

Get Free cheque book for routine requirement (Except bulk requirement for loans)

Avail concession for first year only in locker charges for small locker by 50%

Get Demat Account for free for first year only

Get free Internet Banking/ Mobile Banking/ Issuance of ATM/Debit Card, RTGS/NEFT

Facility Available – Demat account, Nomination, NEFT/ RTGS, SMS alert

Eligibility Criteria

All permanent teachers of recognized Schools/Colleges/Educational Institutes are eligible to open Punjab National Bank Shikshak Scheme.

8. PNB Vidyarthi SF Account

PNB Vidyarthi SF Account	Features
Initial Deposit	NIL
Minimum Balance Requirements	Zero Balance Savings Account
Interest Rate	3.00% p.a.*
Overdraft Facility	Rs. 5000 / Rs. 10000
Free internet banking / mobile banking available	Yes

*PNB provides 3.00% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 3.00% per annum.

Punjab National Bank offers a savings bank account specially designed for students studying at various recognized educational institutions. It is a zero balance savings account that is opened without any initial funding requirement.

Features & Benefits

The account will get transferred to General category as soon as the Vidyarthi / account holder attains an age of 21 years

Get Free Cheque book (40 leaves) in a year, internet banking, mobile banking, issuance of ATM Debit Card

Free of cost issuance of draft for all type of fees/examination fees, Inter-sol transactions

No Incidental/Ledger Folio charges

Eligibility Criteria

Accounts can be opened in the name of students studying at various recognized educational institutions. The account will remain in this Scheme till the account holder attains an age of 21 years.

Documents Required for PNB Online Savings Account

Following is the list of KYC documents which are required for opening of savings account with Punjab National Bank:

Proof of Identity

• Passport
• PAN Card
• Aadhaar Card
• Voter’s Identity Card
• Driving License
• Job card issued by NREGA duly signed by an officer of the State Government [For Small Accounts]

Proof of Address

• Ration Card
• Electricity Bill
• Telephone Bill
• Bank Account Statement
• Letter from Employer (to the satisfaction of Bank)
• Voter ID Card (only if it contains the current address)

1. PNB Power Savings Account

PNB Power Savings Account	Features
Initial Deposit	Rs. 500
Quarterly Average Balance	Rs. 500 (Rural), Rs. 1000 (Semi-Urban/ Urban/Metro)
Interest Rate	3.00 p.a.*
ATM Withdrawal Limit	Rs. 50000
Debit Card	Free Rupay Debit Card
Eligibility Criteria	Resident Individual Woman

*PNB provides 3.00% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 3.00% per annum.

2. PNB Pension Savings Account

PNB Pension Savings Account	Features
Quarterly Average Balance	Zero Balance Savings Account
Interest Rate	3.00% p.a.*
ATM Withdrawal Limit	Rs. 50,000
Domestic Shopping Limit	Rs. 1,25,000
Debit Card	Free Rupay Debit Card
Eligibility Criteria	Any Pensioner

*PNB provides 3.00% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakh, PNB Savings Account interest rate is 3.00% per annum.

3. Scheme For OD To Pensioners

Scheme for OD to Pensioners	Features
Overdraft Limit	Up to One month net pension
Overdraft Limit Renewal	Yearly Basis
Eligibility Criteria	Any Pensioner (Except ESI Pensioners & Pensioners with loan facility against pension)

*PNB provides 4% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, the rate of interest provided is 3.5% per annum.

4. Basic Saving Bank Deposit Account (BSBDA)

Basic Saving Bank Deposit Account (BSBDA)	Features
Number of ATM Withdrawals Allowed	4
ATM-cum-Debit Card	Available
Eligibility Criteria	Any Resident of India

*PNB provides 4% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, the rate of interest provided is 3.5% per annum.

5. PNB SF Prudent Sweep for the Accounts of Institutions

PNB SF Prudent Sweep for the Accounts of Institutions	Features
Initial Deposit	Rs. 500
Quarterly Average Balance	Rs. 5,000 (Rural/Semi Urban) Rs. 10,000 (Urban/Metro)
Interest Rate	3.00% p.a.*
Auto Sweep Facility Available	Yes
Eligibility Criteria	Any Institutions Permitted

*PNB provides 3.00% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 3.00% per annum.

6. New Salary Saving Products

PNB Salary Accounts	Features
Initial Deposit	NIL
Quarterly Average Balance	Zero Balance Savings Account
Interest Rate	3.00% p.a.*
Internet Banking & SMS Alerts	Yes
Eligibility Criteria	Regular Employees**

*PNB provides 3.00% interest per annum on the account balance above Rs. 50 lakhs. For balances up to Rs. 50 lakhs, PNB Savings Account interest rate is 3.00% per annum. **Regular Employees of central and state government, PSU, Semi Govt. Corporation, MNCs, Reputed Institutions, Reputed Corporates and Reputed Educational Institutions

Punjab National Bank offers 4 different types of salary accounts with several benefits and features.

Particulars	Normal Salary Account	Gold Salary Account	Premium Salary Account	Platinum Salary Account
Category of Employee	Regular Employees of central and state government, PSU, Semi Govt. Corporation, MNCs, Reputed Institutions, Reputed Corporates and Reputed Educational Institutions are eligible to open PNB Salary Account.
Drawing Gross salary per month	Rs.8,001/- & above up to Rs.25,000/-	Above Rs.25,000/- & up to Rs.75,000/-	Above Rs.75,000/- & up to Rs.1,50,000/-	More than Rs.1,50,000/-
Cheque leaves free (Except for bulk requirement -EMIs payable to other Banks/ FIs/NBFC)	40 p.a. (April to March)	50 p.a. (April to March)	100 p.a. (April to March)	Unlimited
NEFT through salary a/c-free of cost (other than business purpose)	2 per month	5 per month	Unlimited	Unlimited
Issuance of debit card-free	Rupay Classic/Platinum debit card		Rupay Platinum debit card
Annual maintenance charges	Applicable charge		No charges
Domestic cash-ATM withdrawal per day	Rupay classic card-Rs.25,000/-Rupay Platinum card-Rs.50,000/-		Rs.50,000/- (Applicable to Rupay Platinum Card)
Domestic shopping limit-POS- per day	Rupay classic card-Rs.60,000/- Rupay Platinum card-Rs.1.25 lacs		Rs.1.25 lac (Applicable to Rupay Platinum Card)

Documents Required for PNB Offline Savings Account

Proof of Identity

• Passport
• PAN Card
• Aadhaar Card
• Voter’s Identity Card
• Driving License

Proof of Address

• Ration Card
• Electricity Bill
• Telephone Bill
• Bank Account Statement
• Letter from Employer (to the satisfaction of Bank)
• Letter from any recognized public authority (to the satisfaction of the Bank)
• Credit Card Statement
• Voter ID Card (only if it contains the current address)

How to Open Punjab National Bank Savings Account Online

Applying for a PNB Savings Account online involves 4 simple steps:

1. Visit Punjab National Bank website (pnbindia.in) and click on Savings Account under Online Services option. On the next page, Applicant will start the process of filling the account opening form using button ‘Click here to open the Online Savings Account without E-sign facility (Submission of form)’.
2. The Applicant will fill his/ her name, mobile number and e-mail ID on the opened form. On submission, he/ she will get TCRN number (Temporary Customer Reference Number) on mobile as well as e-mail.
3. For given TCRN number, customer will fill the online form by furnishing relevant details of account opening form.
4. After submission, applicant will visit Bank’s branch along with TCRN, photo, ID Proof and Address Proof in original and copies. The KYC documents will be verified by the branch.

How to Open Punjab National Bank Savings Account Offline

Applicants interested in opening PNB savings account offline can do so in just a few simple steps:

Step 1: Visit PNB’s nearest branch

Step 2: Fill out the savings account application form

Step 3: Provide the basic details to the bank official to open your account

Step 4: Select the type of account you wish to open

Step 5: You need to provide your self-attested copies of Aadhar and PAN card to the banking official

Step 6: Submit the form along with the cash deposit slip or demand draft and other proofs of your identity

Step 7: Once the bank has all your details, it will verify the details and your account will be opened upon verification

Punjab National Bank will provide you with a welcome kit with all the necessary documents to operate your account.