PNB Charges Update: PNB revises savings account service charges from October 1: Check details
Source: Business Standard
PNB, Punjab National Bank (Photo: Shutterstock)
Punjab National Bank (PNB) has announced revisions in service charges for its savings accounts, effective from October 1, 2024. The changes include adjustments to minimum average balance requirements, locker fees, and charges for demand drafts and cheque returns.
Key changes
Minimum balance required every quarter:
Rural- Rs 500
Semi-urban- Rs 1000
Urban and metro city- Rs 2000
The minimum monthly average balance required is as follows:
Rural: Rs 500
Semi Urban: Rs 1000
Urban & Metro: Rs 2000
The bank is shifting from a quarterly to a monthly average balance maintenance system.
Charges for not maintaining minimum average balance:
Rural: Rs 50 for up to 50 per cent shortfall, Rs 100 for shortfall above 50 per cent.
Semi-Urban: Rs 100 for up to 50 per cent shortfall, Rs 150 for above 50 per cent.
Urban & Metro: Rs 150 for up to 50 per cent shortfall, Rs 250 for above 50 per cent.
Demand Draft revised charges:
0.40 per cent of the DD amount will be charged with a minimum of Rs 50 and a maximum of Rs 15,000.
Duplicate demand draft
Issuance of duplicate DD: Rs 200 per instrument
Revalidation of DD: Rs 200 per instrument
Cancellation of DD: Rs 200 per instrument
Against tender of cash (below Rs 50,000): Rs 250 per instrument for any mode of remittance.
Cheque returning charges
Inward return charges:
Savings account:
— Rs 300 per instrument due to insufficient balance.
Current account/ Cash Credit (CC)/ Overdraft (OD):
– Rs 300 per instrument for the first three cheque returns due to insufficient balance in a financial year.
– Rs 1000 per instrument for the 4th cheque return onwards due to insufficient balance in a financial year.
For reasons other than Insufficient Balance:
– Rs 100 per instrument.
No charges:
– If the cheque bounces due to a technical fault or failure (applicable to all accounts).
Interest charges:
– Interest is charged at the applicable rate for the number of days the bank is out of funds (i.e., actual interest on a clean overdraft is charged extra).
Outward returning charges
Outward returning charges Rs 200 per instrument irrespective of amount.
Outstation returning charges (Inward/Outward) amount of cheque charges: Rs 200 per instrument irrespective of amount + out of pocket expenses.
Locker rent per year
The locker rent charges vary depending on the location and size of the locker.
For a small locker, the rent is Rs 1,000 in rural areas, Rs 1,250 in semi-urban areas, and Rs 2,000 in urban or metro regions.
A medium locker costs Rs 2,200 in rural areas, Rs 2,500 in semi-urban areas, and Rs 3,500 in urban/metro areas. The rent for a large locker is Rs 2,500 in rural, Rs 3,000 in semi-urban, and Rs 5,500 in urban/metro locations. For a very large locker, the rent remains Rs 6,000 in both rural and semi-urban areas, while it increases to Rs 8,000 in urban/metro areas. Lastly, the extra-large locker has a uniform rent of Rs 10,000 across all locations.
First Published: Sep 09 2024 | 1:34 PM IST
