PNB is one of the most trusted banks in India. It has been around since 1894, which makes it one of the oldest banks in the country. PNB offers a wide range of financial products and services for personal banking, corporate banking, NRI Banking, international trade finance, and more. They also offer online account opening facilities to their customers interested in doing so.
This article will cover the PNB Saving account and How to open it.
Let’s do this in a step-by-step fashion.
- What is PNB Saving Account?
- Types of Savings Account In PNB
- How to open a PNB Saving account?
- How to open Punjab National Bank (PNB) Account online.
- Steps to open a Punjab National Bank Savings account online.
- What to Consider Before opening Savings Account
- PNB interest rates on saving account
What is PNB Saving Account?
The PNB Saving Account is a type of account offered by PNB to their customers who wish to open it. This can be Zero Balance Account, regular account, or regular savings account. Most individuals prefer opening a regular PNB Savings Account as it is safe and secure, yet they can use the facility like any other bank account.
This is one of the most trusted accounts in PNB, and we will discuss how you can open it.
Types of Savings Account In PNB
Here are the types of PNB Accounts you can open:
#1. Regular Savings Account (RSA)
This is the most commonly used account by customers who wish to open an account in PNB. As the name suggests, you can avail yourself of standard savings account facilities. You can even avail of a personal loan or home loan from PNB if you have an RSA account with them. This account can be opened jointly by trusts, societies, Hindu Undivided Families (HUFs), etc.
Features of PNB Regular Saving Account
The features of a savings account in PNB are:
- You can avail of a personal loan or home loan from PNB if you have an RSA account with them.
- This account can be opened jointly by trusts, societies, Hindu Undivided Families (HUFs), etc.
- The peace of mind comes from knowing your money is safe with PNB.
- The initial deposit requirement in this savings account is Rs.500.
- You can open this account in the form of a savings passbook and also operate it online.
- The minimum quarterly average balance for rural areas is Rs 1000 while 2000 for metros.
- You can also open a savings account online.
- You will get 20 free personalized multi-city cheque leaf per half-year.
- Not forget about free internet banking.
#2. PNB Premium Saving Account (PPSA)
This is the invite-only type of account. Suppose you wish to open a PNB Premium Saving Account. In that case, you will have to be invited by the bank as they do not accept applications from individuals who wish to open an account with them. Only existing customers of the bank can be invited.
Here are the features of the PNB Premium Savings Account:
- Premium facilities: You can avail premium facilities like superior checkbooks, personalized debit cards, etc.
- Minimum Average Balance: Rs.1.00 lakh Minimum Average Balance for a year of the minimum balance must be maintained for at least one year.
- Personalized Visa Debit Card: You’ll receive a personalized Visa Debit Card with the words “”Our Best Customer”” etched/printed on it.
- Daily ATM Withdrawal limit: You will get Rs.1,00,000 Daily ATM Withdrawal.
- Locker Charges: You will receive a 25% discount on annual fees (subject to availability of locker)
In a nutshell, you’ll get all the benefits as a PNB online account holder with a pnb premium savings account as well!
Read More : Canara Bank Zero Balance Account
#3. PNB Rakshak Plus Scheme
PNB Savings Account is one of the most popular savings accounts in India. PNB offers a wide range of savings and fixed deposits, which are safe and secure. The PNB Rakshak plus scheme is one such saving account, where PNB has offered a special account for Defence Personnel, where he can save his salary every month, and the interest rates are higher, which is then offered in PNB Savings Account.
All pensioners who choose to receive their funds through PNB Branches and have them credited through CPPC will be eligible for the PNB Rakshak Plus program’s benefits. i.e., processed & credited through our bank. The scheme does not apply to accounts that receive pensions by check, NEFT, or RTGS/RTGS. You can open this PNB Online Account.
Here are the features of the PNB Rakshak Plus Account:
- Personal accident cover: You will get a personal accident cover of Rs.50 lakh.
- Personal Accident: You’llYou’ll be covered for a Personal Accident (Permanent Total Disability) of Rs.50.00 lakh.
- Cash Handling Charges: There will be no charges for Cash Handling. All branches of PNB, PAN-India, would be considered ”Home” branches.
- Overdraft Limit: The best part is, you will get an Overdraft up to the last 3 months Net Salary.
- Concession in interest: You will be eligible for a concession in interest and service fee rates under the Housing, Automobile, Education, and Personal Loan Schemes.
- The scholarship for children: The ““PNB Pratibha“” scholarship is available for children of a PNB Primary Account Holder who enroll in prestigious institutions or the Indian Military Academies.
- Zero balance saving accounts: All family members are eligible for Zero balance saving accounts.
- Unlimited free DD: Unlimited free DD with a ceiling of Rs 50,000- per free DD
- Financial assistance of Rs. 1 lakh per year for four years or the actual expenditure, whichever is less, is available for one child’s education in case of accidental death.
There are many other benefits of the PNB Rakshak Plus Account; you can avail all the features by opening your PNB Rakshak Plus Account online.
#4. Basic Saving Bank Deposit Account (BSBDA)
Suppose you are unable to maintain the minimum average balance. In that case, you can opt for PNB Basic Saving Bank Deposit Account. This is a classic example of how government banks pamper their customers, and pnb is one such bank that gives a lot of benefits for this scheme.
Basic Saving Bank Deposit Account (BSBDA) is a new type of PNB account launched during 2014-15. The PNB basic(BSBDA) scheme aims to provide wider banking services to rural areas with minimum formalities at the subsidized rate on deposits and ATM services.
Features of PNB Basic Savings Bank Deposit Account:
- No Penalty Charges: You will be able to keep the monthly credit in the account without incurring any penalty charges, even if you do not maintain a monthly average balance.
- Account Opening Facility: You can even open your savings bank account online with PNB by filling up a short form available at the pub website.
- Free debit card: You will get a PNB debit card, which you can use for all PMB ATM services.
- Free of cost Cheque leaves: You will get free cheque leaves with your pnb basic savings account. However, you need to pay for additional cheques.
- Minor is also eligible: The Punjab National Bank(PNB) basic savings bank account is even for minors, and the pub account opening facility allows you to open your pnb saving account online.
- Singly or jointly: You can open a PNB BSBDA account either singly or jointly.
- No limit on transactions: There is no limit on PNB’sPNB’s basic savings account, and you can make as many transactions as you want without worrying about any service charges.
The basic saving account is best for account holders who don’tdon’t maintain a monthly average balance.
#5. PNB Junior Sf Account
The junior savings account is specially designed for children who want a separate savings bank account. Minors above the age of 10 years can open junior savings account online.
Features of PNB Junior Savings Account:
- No charges for transactions: All in basic banking accounts are free to transact, which means you can make unlimited transactions using the PNB Junior SF account without worrying about charges or fees being imposed.
- No minimum balance requirement: There is no minimum balance required for Junior Savings
- Internet Banking Facility: Only a view facility is provided.
Above are the most famous saving account offered by Punjab National Bank.
How to open a PNB Online Account?
I’ll give you a guide to opening up a PNB account. You can open your PNB account in any one of 2 ways:
Open Punjab National Bank Saving account Offline.
#1. You Visit the nearest Punjab National Bank branch with the required document.
#2. Fill out the application form at the bank’s new account area, stating that you want to open a new savings account.
#3. Ensure that the information requested on the application form and what is stated in your KYC documents are accurate. Fill out an application form at the counter.
#4. Bank Executive will verify the application form and accept or guide you to correct it.
#5. The documents will be verified by the bank, and if they are acceptable, the savings account will be opened within three to five banking days.
#6. Your account will be activated, and you’ll receive all necessary paperwork (except for the Passbook or Cheque) within 15 days of opening.
You can download the PNB saving account opening form pdf form here.
The 6 steps are all pretty straightforward, so anyone should be able to do it without too much trouble!
Read More : Which is the best Saving account In India?
How to open Punjab National Bank( PNB) Account online.
Not all the accounts can be open online with pnb, but below are the types of accounts that can be opened online:
Types of Savings Account that can be opened online( PNB Online Account)
- Saving Deposit (General) Account
- Premium Saving Account for Premium account( Only existing customers can upgrade)
- SF Prudent Sweep Deposit Scheme
- PNB Junior SF Account
- PNB Rakshak Scheme
- PNB Shikshak Scheme
- PNB Vidyarthi SF Account
Before you open a bank account with PNB, you need to keep in mind the following few things. I have listed them as follows.
- Proof of Identity(POI): Aadhar card, PAN Card, Voter ID, passport, etc.
- Proof of Address(POA): Anyone from the below-mentioned documents: Electricity bill Telephone bill Gas connection Water supply bill Ration card Passport Latest bank statement Certificate or any other document
- Three passport-sized photographs of the applicant.
- Income Document: Form 16 (only if PAN card is not available)
Here are the steps to open a Punjab National Bank Savings account online:
Steps to open a Punjab National Bank Savings account online.
Total Time: 10 minutes
Visit the official website
Visit the official website of PNB( www.pnbindia.in) and click on “”Online Services””
Select the Saving account form
You will be directed to the online form, where you need to select the Saving account form
Fill the required fields
After clicking on it, you will be directed to the next page, where you need to fill the required fields. Select the branch, Account Type, Enter the Customer Name, Mobile Number, and Customer Email ID (or a saved contact), Check the box and declaration boxes.
Click on the Save button after filling in all the details.
When you fill out and submit the application form, a TCRN (Temporary Customer Reference Number) will be created, you will receive TCRN no in your registered Email-ID and mobile number.
Download the application form and Submit to Branch
Now download the application form from TCRN No. Print out these forms and submit them to the branch along with a Valid KYC Document for verification.
Post verification, your account will be opened within 5 working days of submitting the documents. Good luck with opening an account!
What to Consider Before opening Savings Account with a Punjab National Bank
If you want to open a savings account with PNB, there are certain things that you need to consider. I have listed them as follows.
- Documents needed for PNB new account opening: We all know that we need to provide certain documents and proofs like address proof, identity proof, and income proof. But, there are certain other things also that we should also keep in mind before opening an account with PNB.
- Customer Service: This is one of the most important things you need to consider before opening an account. PNB provides one of the best customer support services in the country, so you can rely on them for any help or query.
- Types of Savings Account that can be opened online: A savings account with PNB is very useful. It can help us grow our savings easily without facing too many hassles.
- Service Charges: You need to keep in mind that certain charges will be deducted from the account.
- Transaction Limit: Deposit and withdrawal limit depending on the PNB saving account you have opened. A higher deposit limit can attract higher risk, so always choose a suitable option.
- Withdrawal Charges: PNB also charges a certain amount if you want to withdraw money from your saving account. Always check the charges before opening an account.
- Interest Rate on saving account: PNB also keeps certain interest rates for savings accounts. You can compare the interest rates on different saving account before opening one.
- T&C of the Account: Before you open a bank account with PNB, it is very important to read all the terms and conditions carefully. Once you know all the details, you will not have to face any hassles in the future.
Read More: How to Open SBI Digital Saving Account
Punjab National Bank Savings Account Holders Should Know About These Theft Prevention Tips while using PNB Online Account.
In the last few years, cyber crimes have been increasing greatly. Nowadays, it is very easy for hackers to steal data from other people’s accounts. To avoid any kind of fraud and theft, here are a few tips that you need to keep in mind while using PNB Online Account.
- Customer Care: It is always better to contact the customer care number of your bank in case of any doubt or query. In this way, you will be able to ask for help from the experts instead of taking a risk on your own. So do not forget to contact customer care representatives before doing anything on your own.
- Password: It is always better to create a strong password before opening a bank account. Try to avoid using passwords that contain public figures, names, and common words. Keep in mind the current affairs when choosing a password for your bank account.
- Double-check: Double-checking all your online banking statements is very important. If you find anything wrong or suspicious, contact customer care immediately. This will help you to stay protected against fraud and theft.
- Hacked: If someone has hacked your account and is making illegal transactions, do not hesitate to contact the bank immediately. As soon as the bank learns about this, they will hold your transactions and try their best to resolve this issue as soon as possible.
- Fake Emails: Always remember to ignore emails that you receive from your bank. These emails are not sent by any official representatives, so do not fall for them. Also, if someone asks you for documents or passwords, ignore the request and reach out to your bank directly.
- Unnecessary Notifications: If a notification pops up on your phone screen saying that someone has tried to log in to your account, ignore it. Hackers usually send these false notifications, so do not trust them.
- Personal Details: Always keep your phone numbers and email IDs updated with the bank. This way, you will get information faster if any fraud or theft occurs.
- Shop on secure websites: Always verify the HTTPS protocol on the site before making any purchase. If you cannot locate this symbol, do not buy anything from that website.
- Social Media Accounts: Never share your passwords or confirmation codes with anyone. Try using special URL shorteners to reduce the risk of fraud and theft.
- Public WiFi Networks: Do not access your banking details or information on public networks. The data you share here is vulnerable to hackers, so refrain from doing anything on these networks.
Punjab National Bank Customer Care Number:
If you have any requests, grievances or need help, complaints related to a savings account, you can call the PNB customer care toll-free number – 1800 180 2222
Now, we have checked all the processes related to opening Punjab National Bank and types of Saving accounts. Let’s see the interest rate offered by the bank for its Saving accounts.
PNB interest rates on saving account
Punjab National Bank is one of the most famous banks in India, which offers the highest interest rate on saving accounts due to the low risk of fraud and theft. It has different types of saving account, where it keeps certain rates for regular, senior citizen, and basic customers.
Here are the rates offered by Punjab National Bank for its saving accounts.
|Balance||Rate Of Interest|
|Upto Rs. 10 Lakh||2.80%|
|More than Rs. 10 Lakh and above||2.85%|
The interest rate on saving accounts is very low as compared to other banks
PNB Saving account minimum balance requirement
Most saving account holder aims to get maximum interest rates for their accounts. So, if you have a zero balance account in PNB then don’t worry about the minimum balance requirement.
No need of paying a fee just keep a minimum average monthly balance in your account and enjoy a high-interest rate on saving accounts throughout the year.
However, if you do not have a Zero Balance account, then you need to pay certain fees on monthly basis to maintain the balance. For this, you have to keep a minimum average monthly balance in your account.
Here are the list of Saving bank account and their minimum balance requirement.
|Type of Savings Account||Rural||Semi- Urban||Urban||Metropolitan|
|Basic Savings Account(BSDA)||Nil||Nil||Nil||Nil|
|Regular Saving Account||Rs.500||Rs.1,000||Rs.2000||Rs.2000|
|Premium Saving Account||Rs.1.00 lakh for a minimum period of 1 year||Rs.1.00 lakh for a minimum period of 1 year||Rs.1.00 lakh for a minimum period of 1 year||Rs.1.00 lakh for a minimum period of 1 year|
|PNB Rakshak Scheme||Nil||Nil||Nil||Nil|
|PNB Power Savings||Rs.500||Rs.1,000||Rs.2,000||Rs.2,000|
|PNB Junior SF Account||Nil||Nil||Nil||Nil|
|PNB My-SALARY ACCOUNT||Nil||Nil||Nil||Nil|
The Minimum Balance Requirement changes frequently. So, you need to check the latest minimum average monthly balance required for your account before applying the same.
If you’re interested in opening a PNB Online Account. , it’s important to know the minimum balance required for each account. You’ll also want to know about available interest rates and what fees are charged if your average monthly balance falls below the stipulated level.
We hope this post has been helpful as we’ve covered all of these topics and more! If you need any help choosing the right type of savings account or have any other questions, please don’t hesitate to reach by commenting below.