Latest PNB Savings Account Interest Rate – 2024

With over 180 million customers and an extensive business volume, Punjab National Bank is one of the largest private-sector banks in the country. Among its various financial offerings that cater to the myriad needs of its customers, savings accounts are one of the primary. 

To know more about this product and how to benefit from PNB savings account interest rates, continue reading this blog. 

Recent PNB Savings Account Interest Rates 2024

Take a look at the table showing varying PNB savings account interest rates with different savings fund account balances: 

PNB Savings Account Interest Rates & Minimum Balance Required

Take a look at the table to find out the minimum balance requirements for various types of PNB savings accounts: 

1. PNB Secured Savings Scheme

• Minimum Quarterly Average Balance (QAB): Rural – ₹500, Semi Urban – ₹1000, Urban & Metro – ₹2000

2. PNB Arogya Savings Scheme

• Minimum Quarterly Average Balance (QAB): Rural – ₹500, Semi Urban – ₹1000, Urban & Metro – ₹2000

3. PNB Elite Saving Fund Scheme

• Quarterly Average Balance (QAB) for Premium SF accounts: ₹50,000 & above and less than ₹ 5 lakhs
• Quarterly Average Balance (QAB) for Executive SF accounts: ₹5 lakhs and above and less than ₹10 lakhs
• Quarterly Average Balance (QAB) for Grand SF accounts: ₹10 lakhs and above and less than ₹15 lakhs
• Quarterly Average Balance (QAB) for Royal SF accounts: ₹15 lakhs and above

4. PNB UNNATI Saving Fund Account

• Minimum Quarterly Average Balance (QAB): Rural – ₹500, Semi Urban – ₹1000, Urban & Metro – ₹2000

5. PNB SF Prudent Sweep Deposit Scheme for Individuals

Minimum Quarterly Average Balance (QAB): ₹25,000

6. PNB SF Prudent Sweep for the Accounts of Institutions

• Minimum Quarterly Average Balance (QAB) for standard accounts: ₹1 lakh
• Minimum Quarterly Average Balance (QAB) for classic accounts: ₹5 lakhs
• Minimum Quarterly Average Balance (QAB) for advantage accounts: ₹10 lakhs

7. PNB Junior SF Accounts

• Minimum Quarterly Average Balance (QAB): Zero

8. Basic Saving Bank Deposit Account (BSBDA)

• Minimum Quarterly Average Balance (QAB): Zero

9. PNB Power Savings

• Minimum Quarterly Average Balance (QAB): Rural – ₹500, Semi Urban – ₹1000, Urban & Metro – ₹2000

10. PNB Samman Saving Accounts

• Minimum Quarterly Average Balance (QAB): Zero

11. PNB Salary Account

• Minimum Quarterly Average Balance (QAB): Zero

12. PNB Select Saving Account

• Minimum Quarterly Average Balance (QAB): ₹5,000

PNB Savings Account Charges 

Now that you know Punjab National Bank saving account interest rates, let’s take a look at the tables for credit and non-credit related service charges: 

Charges for Outward Transactions 

Charges for Non-credit Related Services 

Why Choose a PNB Savings Account?

Millions of customers choose PNB savings accounts due to their salient features. Let’s take a look at some of them now: 

1. Availability of Various Features
   After opening a PNB savings account, you can avail facilities such as ATM Debit Card issuance, online banking, mobile banking, the presence of a Demat account, NEFT/RTGS costs, and more. 
2. Nominal Minimum Account
   Besides multiple PNB offerings of zero balance savings accounts, the bank keeps a nominal minimum account maintaining balance. This amount varies with your location being rural, semi-urban, urban and metro.
3. Simple Eligibility and Account Opening Procedure
   PNB has kept its eligibility criteria quite flexible to fulfil for its existing customers. On top of that, it is also easy for new customers to open a savings account at PNB. 
4. Additional Benefits
   Account holders not only benefit from PNB savings account interest rates, but also from other facilities like free cheque leaves, insurance coverages, debit card/credit card and more.  

Key Benefits of PNB Savings Account

Here are some of the key benefits of a PNB savings account that make it one of the most preferable financial instruments for its customers: 

1. Special Accounts with Extra Benefits Children, women, and senior citizens with a savings account at PNB get additional benefits. These additional facilities and provisions are very helpful for account holders.  
2. Retail Banking Solutions PNB ensures that every customer’s banking journey is smooth and hassle-free. PNB’s retail banking solutions are highly versatile catering to customer’s every emerging needs. 
3. Presence of Safe Deposit Boxes By opening a savings account, you can access safety deposit boxes with a 50% discount on PNB bank locker charges for the first year. You can keep your important documents, keepsakes, and valuables locked under security. 

How To Open an Online PNB Savings Account?

To open an online savings account and avail the benefits of PNB saving account interest rates, follow the steps below: 

• Step 1: Go to the official website of Punjab National Bank. 
• Step 2: Navigate to the ‘Products menu’ and click on ‘Deposit’. Further, you will find the ‘Savings Account’ tab.
• Step 3: After you click on ‘Savings Account’, you have to read about the types of savings accounts PNB offers and all their features that may be relevant to you. 
• Step 4: Login by entering your basic details like full name, mobile number, email address, city, etc. 
• Step 5: Fill out the application form with relevant information and upload your KYC documents. 
• Step 6: After the submission, the system will generate a Temporary Customer Reference Number (TCRN). 
• Step 7: Once your application is approved, it will take 3 to 5 working days to open your account. 

How to Open an Offline PNB Savings Account? 

Follow these steps to open a PNB savings account offline: 

• Step 1: Visit a Punjab National Bank branch near you and ask a bank representative for a  savings account form. 
• Step 2: Enter accurate financial and personal details into the application form and provide copies of documents (self-attested) essential for opening the account. 
• Step 3: Submit the application form attaching the documents. Provide cash or cheque to deposit the amount of money you would like to park. 

The bank will create the account after verification is complete. 

Eligibility Criteria to Open PNB Savings Account 

To open a savings account at Punjab National Bank, you have to meet certain eligibility criteria. Take a look at the list below to find out: 

1. Indian citizen
2. 18 years old or above
3. Guardians on behalf of minors
4. Proof of identification approved by the government 

Documents Required to Open PNB Savings Account 

One has to submit the following documents to open a savings account at PNB: 

1. Passport 
2. Voter ID card
3. Driving licence 
4. PAN card 
5. Form 16 (in case PAN is not available) 
6. Recent passport-size pictures 

Types of PNB Savings Account and Its Features

Go through the following table to learn about the various types of PNB savings accounts and their features: 

1. PNB Secured Savings Scheme

• Facility of life insurance is available
• Internet, mobile, and SMS banking facilities are available

2. PNB Arogya Savings Scheme

• Account holders will get a free chequebook (25 leaves) per financial year
• Facility of ‘care’ health insurance is available

3. PNB Elite Saving Fund Scheme

• Third-party cash payments up to ₹50,000 per day are the maximum limit
• The maximum debit transactions limit is 40, after that charges will be applicable

4. PNB UNNATI Saving Fund Account

Third-party cash payments up to ₹50,000 per day are the maximum limit
The maximum debit transactions limit is 40, after that charges will be applicable

5. PNB SF Prudent Sweep Deposit Scheme for Individuals

In a savings account, sweep in and out shall take place after one has a balance of over ₹50,000
A minimum sweep in/sweep out will be ₹5,000 and afterwards in multiples of ₹5,000

6. PNB SF Prudent Sweep for the Accounts of Institutions 

There is no limit to the value or number of deposits that one can make in a month
One can withdraw a maximum of 6 times in a month

7. PNB Junior SF Accounts

• There is no limit to the value or number of deposits that one can make in a month
• One can withdraw a maximum of 6 times in a month

8. Basic Saving Bank Deposit Account (BSBDA)

• There is no limit to the value or number of deposits that one can make in a month
• One can withdraw a maximum of 6 times in a month

9. PNB Rakshak Scheme

• Only Defence Personnel are eligible to open this account
• Personal Accidental (includes Death/Permanent total Disability) cover of ₹50 lakhs
• Zero balance savings account for family members
• Overdraft facility up to last 3 months Net Salary/ Pension (ranging from ₹75000 to ₹3,00,000 lakhs)

10. PNB Power Savings

• Only women are eligible to open this account
• e-OD (Overdraft) facility is available against fixed deposit

11. PNB Samman Saving Accounts 

• Pensioners or prospective pensioners can open this account
• Overdraft facility up to 4 months of pension is available

12. PNB Select Saving Account 

• Individuals between 25 to 40 years of age can open this account
• With a sweep facility, one can earn ROI at FD on surplus after maintaining a threshold amount of ₹20,000

Steps to Open PNB Video KYC Savings Account 

Follow the steps below to open a PNB savings account using the video KYC facility: 

• Step 1: Open a Chrome browser on your desktop/laptop/mobile or any other device with a camera for video calling and search ‘PNB Video KYC’.
• Step 2: Enter into PNB’s official KYC landing page and allow the system to access your location. 
• Step 3: Read the instructions shown on the screen and gather the necessary things before continuing with the video KYC process. This set of things includes your Aadhar Card, PAN Card, proof of professional activity (if applicable), white paper and blue or black pen.
• Step 4: Select the product, in this case, click on ‘Apply for Saving Account’. 
• Step 5: Submit Aadhar, mobile and PAN details. 
• Step 6: Provide personal details and continue with the video KYC process where a bank representative will walk you through the rest of the journey.

After complete verification, the bank will send you a notification about your new account, and you can start earning with PNB bank savings account interest rates. 

PNB Savings Account Transaction Limit

This table lays out the transaction limits of the PNB savings account: 

How to Close a PNB Savings Account?

You will need to visit a Punjab National Bank branch to close a savings account. Refer to the steps below to learn how to close a PNB savings account:

• Step 1: Visit the PNB branch where you have opened the savings account. 
• Step 2: Ask a bank representative to provide an account closing form and fill it out with the necessary details. 
• Step 3: Withdraw the balance that remains (if applicable). 
• Step 5: Submit the account closure form along with the necessary documents. 

Final Word

There are multiple options when it comes to opening a PNB savings account and earning with PNB savings account interest rates. With lots of beneficial facilities PNB savings accounts offer an account holder to keep his/her money in safe hands, debit or credit with ease, and complete every financial operation effortlessly. 

FAQs

Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.