Punjab National Bank, also known as PNB bank, is owned by the Government of India. It is India’s first Swadeshi Bank, which was established by the spirit of nationalism and was the first bank solely managed by Indians with Indian Capital. During the long history of the Bank, seven banks have merged with PNB.
Currently, Punjab National Bank is headquartered in New Delhi and is the second-largest public sector bank in India, both in terms of business and its network. Post-merger with United Bank of India and Oriental Bank of Commerce, PNB has over 180 million customers, 10,910 branches and 13,000+ ATMs.
Speaking about revenue, PNB's domestic business increased by 5.2 % YOY to
Rs. 11,44,730 crore as at the end of December’19 from Rs. 10,87,973 crore in December’18.
This account is meant for minors (10+ years), individuals (singly or jointly) and minors under natural or legal guardianship. Furthermore, an illiterate person and visually impaired person can also apply for this account. One of the best features of the account is it doesn't require any initial balance, which means it is a zero balance account.
This PNB savings account caters to premium customers. Individuals (either singly or jointly), Hindu Undivided Families (HUFs), Associations, Trusts, Clubs, Societies, etc., can open this account. The account requires a minimum quarterly average balance maintenance, i.e., is Rs 50,000 and above. There are no cash withdrawal charges at all branches.
The account offers free Platinum Debit Card with two add-on cards, along with an accidental insurance cover maximum Rs. 2 lakh. As listed in the table below, the initial deposit varies as per areas, and is subject to change for General SF A/c from time to time-
|Semi Urban||Rs. 1000|
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This account is meant for individuals only. There is an Quarterly Average Balance (QAB) requirement of Rs. 25,000, in case, if this is not maintained, then Rs. 400 will be charged. QAB for rural and semi-urban is Rs. 5,000 and for urban and metro areas, it is Rs. 10,000. Swipe in will take place after the cut-off balance of Rs.1 lakh and in multiples of Rs. 10,000. Swipe out will take place on 5th, 15th, and 25th of every month. In case of holidays on any one of these days, swipe out will take place on the next working day.
The tenure of this account ranges from 7 days to one year. Furthermore, customers get two free remittances and collection of cheques up to Rs. 25,000 per month.
This PNB savings accounts are primarily for institutions. Sweep in/Sweep out can take place after the cut-off balance of Rs.10 lakh in multiples of Rs.1 lakh. Sweep out can take place on a daily Basis.
The tenure ranges from seven days to a year - depending on the customer. The table below will guide you to the initial deposits for this account -
|For Govt. Accounts||NIL|
|Rural and Semi-Urban||Rs. 5000|
|Urban and Metro||Rs.10000|
This PNB savings account is meant for the minors. Minors above 10 years of age are allowed also to open the account and operate it independently. However, the bank would need a satisfactory age proof.
The account doesn't need any initial deposit, which means that the PNB Junior SF Account is a zero balance account. Some of the main features of this account are given in the table below-
|Free Cheque leaves||50 cheque leaves per year|
|NEFT charges||Free upto Rs. 10,000 - per day|
|Issue of Demand Drafts||Free for school or college fee|
|Issue of ATM/Debit Card (Rupay)||Allowed subject to debit upto Rs.5000 per day|
|Internet Banking & Mobile Banking Facility||Allowed-only view facility|
PNB Rakshak Scheme caters to all defence personnel - BSF, CRPF, CISF, ITBP, Research and Analysis Wing (RAW), Intelligence Bureau (IB), Central Bureau of Investigation (CBI) Indian Coast Guard Personnel & Para-Military personnel. It also includes State Police Force, Metro Police, cities following Police Commissionerate System - like Delhi Police, Mumbai Police, Kolkata Police, etc.
The account offers personal accidental death cover of Rs.3 lakh, air accident death insurance cover of Rs.1 lakh, and Personal Accident (Permanent Total Disability) cover of Rs.3 lakh. Furthermore, there is a concession for a Home Loan, car loan and personal loan.
Depositors under the PNB Rakshak scheme can make an auto sweep from their SF to a Fixed Deposit in their savings scheme account and vice versa.
In order to cater to women of India, PNB bank has launched PNB Power Savings account so that women can easily manage their finances. Any Indian resident woman can open this account. Sweep in/out facility is optional while opening the account. Also, women can even open a joint account, though the first name of the account will be that of the woman.
Some of the main features of PNB Power savings account are listed below -
|Minimum Quarterly Average Balance (QAB) in Rural||Rs.500|
|Initial Deposit in Semi - Urban||Rs. 1000|
|Initial Deposit in Urban & Metro||Rs. 2000|
|Free Cheque leaves||50 cheque leaves per year|
|Issue of Demand Drafts||Free one draft per month upto Rs.10,000|
|SMS alert charges||Free|
PNB Pension Savings Account, also known as PNB Samman Savings Account, is for all the employees retired from PNB bank who has given a mandate for the credit of their pension in the account. The account will be opened, preferably jointly with a spouse.
The account comes with zero balance maintenance. Further, nomination facility is allowed.
Regular employees of the Central & State Government, PSU, Government & Semi Govt Corporation, MNCs, reputed Institution, etc., can open an account here. There is no initial deposit required PNB MySalary Account.
There are account variants under PNB MySalary depending on the Gross Salary per Month-
|Silver||Rs.10,000 upto Rs.25,000|
|Gold||Rs. 25,001 upto Rs.75,000|
|Premium||Rs.75,001 upto Rs.150000|
|Platinum||Rs.1,50,001 and above|
Customers should meet the following criteria to open a savings account with the bank-
Visit the nearest PNB bank branch and request the bank executive for a savings account opening form. While filling the form, ensure all the fields are filled correctly. The details mentioned in the application form should match with your KYC documents. Following, the bank will verify your details. Upon successful verification, the account holder will get a free passbook, cheque book and debit card.
For any queries, doubts, request or grievances, you can Call Punjab National Bank (PNB) customer care number @
1800 180 2222