Punjab National Bank or Punjab National Bank Zero Balance Account Opening online PNB is one of the largest public sector banks in India. It provides comprehensive banking services to individual and business customers. PNB believes in financial inclusion and promotes easy access to banking for all sections of the society. In line with this vision, the bank offers zero balance savings accounts that can be opened with minimal paperwork and maintained without any hassles. This blog discusses the various aspects of opening and managing a zero balance account with PNB.
Types of Punjab National Bank Zero Balance Account
PNB offers various types of zero balance accounts to suit different customer needs. The main types are:
1. Basic Savings Account
- Easy to open and maintain
- Unlimited deposits
- 6 cheque leaves in a year
- Rs. 10,000 monthly withdrawal limit
2. Regular Savings Account
- Higher withdrawal and transaction limits
- Unlimited cheque leaves
- Debit card on request
- Online banking available
How to Open Punjab National Bank Zero Balance Account Online?
PNB provides customers the convenience of opening a savings account from the comfort of their home via internet banking. The online account opening process is fully digital and completes within minutes. Opening a PNB zero balance account online is simple and paperless. Just follow a few easy steps:
- Visit PNB’s website and click ‘Open Account’
- Enter basic details like name, address etc
- Upload KYC documents like Aadhaar, PAN scan
- Select account type (Basic/Regular)
- Set login credentials for net banking
- Account is instantly opened, await debit card delivery
How to Open Punjab National Bank Zero Balance Account Offline?
For customers who prefer the traditional branch visit method, PNB allows opening a zero balance account at any of its branches across India. The process is slightly more involved but completed in a single visit.
Steps:
- Visit the nearest PNB branch with required documents
- Submit account opening form with personal details and address proof
- Provide ID and address proof originals for verification
- Signature and photograph will be captured at the branch
- Initial KYC documents uploaded, account details explained
- Debit card issued on the spot or dispatched later
- 24×7 online access via internet or mobile banking post activation
Punjab National Bank Zero Balance Account Interest rates
PNB offers competitive interest rates on savings bank deposits for both basic and regular zero balance accounts. Interest is calculated on the daily balance and credited half-yearly.
Rates:
- Basic Savings Account: 2.7% per annum for balance up to ₹10 lakh
2.75% per annum for balance above ₹10 lakh - Regular Savings Account: 4% per annum for balance up to ₹1 lakh
3% per annum for balance above ₹1 lakh up to ₹10 lakh
2.75% per annum for balance above ₹10 lakh
Fees and charges of Punjab National Bank Zero Balance Account
PNB aims to offer savings accounts with minimum financial burden. While accounts have no mandatory minimum balance, some nominal charges are applicable for specific services.
Charges:
- Monthly Average Balance (MAB) charges: Nil
- Cheque book issuance: Basic ₹50/year, Regular ₹50/50 leaves
- ATM transaction: 5 free at PNB, ₹20 per financial transaction elsewhere
- Debit card annual: Basic Nil, Regular ₹150
- SMS alerts: ₹50/quarter
- E-statement: Free
- Duplicate Passbook: ₹50
Eligibility criteria to Punjab National Bank Zero Balance Account Opening
PNB aims to promote financial inclusion by allowing even customers with basic KYC documents to open a zero balance account. The eligibility norms are liberal for wider citizen access.
Criteria:
- Minimum age 18 years
- Resident Indian citizen or NRI
- Valid ID proof (Aadhaar, Voter ID, Passport etc.)
- Address proof for current address
- Income proof not mandatory
- Online account additional requirement is mobile number and email
Documents required to open Punjab National Bank Zero Balance Account
To comply with Know Your Customer (KYC) norms, PNB requires certain basic identity and address proofs from potential account holders. The list is minimal to encourage widespread banking access.
Documents:
- Valid photo identification document (Aadhaar, Voter ID, Passport)
- Address proof showing current residence (Aadhaar, Voter ID, utility bill)
- Recent passport size photographs
- For online account additionally:
- Active mobile number for authentication
- Email ID for communication
Punjab National Bank Zero Balance Account Welcome Kit
PNB provides new account holders with a welcome kit containing important details and accessories. This kit facilitates account activation and cashless transactions.
Contents:
- Debit Card – Enables ATM withdrawals and merchant payments
- PIN envelope – For secure debit card usage
- Initial cheque book (Basic account) – Makes banking more convenient
- Passbook – Records transactions and balance details
- Statement – Provides monthly transaction summary
- Activation instructions – Guides activation of card and net banking
- Contact details – For assistance from branch/call centre
Punjab National Bank Zero Balance Account Helpline
PNB understands customers may need assistance with their zero balance accounts. Our helpline staff is here to help with any queries or issues regarding account opening, transactions, statement requests and more. As a public sector bank committed to serving all sections of society, we ensure anyone can access our helpline support easily.
Our customer support team operates from our headquarters at 7 Bhikaiji Cama Place, New Delhi, Delhi 110607. Account holders can call us on 1800 103 2222 for assistance free of cost. You can also write to us anytime at [email protected] and one of our representatives will respond promptly.
Final Word
PNB aims to make banking simple, convenient and cost-effective for everyone. Its zero balance savings accounts serve this purpose well. Customers can get an operational bank account with just basic KYC documents and no commitment to maintain funds. Digital account opening and other offerings ensure seamless banking anytime-anywhere. With reasonable interest rates and nominal charges, PNB zero balance accounts are a suitable first step for those entering mainstream banking for the first time.
FAQs
Yes, Punjab National Bank offers zero balance savings accounts that do not require any minimum balance to be maintained. You only need minimal documentation to open such an account.
PNB savings accounts do not have any mandatory minimum balance requirement. However, customers are advised to maintain a minimum average quarterly/monthly balance of ₹1000-₹2500 in metro/urban and ₹500-₹1000 in semi-urban and rural branches to avoid charges.
As a zero balance account, there is no limit on the transaction amount that can be performed from the account. Customers can deposit and withdraw any amount as long as the account operation rules are followed.
Punjab National Bank (PNB) is a state-owned public sector bank. It was established in 1894 and nationalized along with other banks in 1969. PNB operates across India and is regulated under the Reserve Bank of India.
Yes, as one of the largest public sector banks, PNB has a widespread branch network and offers various banking services. It provides convenient services like internet banking, debit cards and has investment options for savings. Therefore, PNB can be considered a reliable choice for basic banking needs.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
