PNB Savings Account Interest Rates
Punjab National Bank is the second largest government-owned bank in India both in terms of its business and its networks. PNB is one of the leading commercial banks in India. PNB offers various banking facilities such credit card, ATM cum debit card mobile banking, net banking, SMS alerts and many more. The Bank has the distinction of being the first Indian bank to have been started solely with the Indian capital.
|Name||Punjab National Bank (PNB)|
|Industry||Banking, Financial services|
|Headquarters||Dwarka, Delhi, India|
|Founded||19 May, 1894|
|Founder||Dyal Singh Majithia, Lala Lajpat Rai|
|Owner||Government of India|
PNB Savings Account Interest Rates
A savings account is a type of account where you can save your money for your future use and you will also earn a small interest on it. PNB offers various savings account with various benefits and banking facilities. Today we are going to discuss in details about PNB savings account, its interest rates, average balance required to maintain your account and many more.
Also Read: Federal Bank Savings Account Interest Rates
Benefits and Features of PNB Savings Account
- Highly customized retail banking solutions
- Net banking, Mobile Banking, SMS Banking facilities
- Safe deposit lockers available in large number of branches
- PNB offers specially designed accounts that provides benefits to women, pensioners, kids, army servicemen etc.
Types of Punjab National Bank Savings Account
- PNB Savings Deposit General Account
This savings account can be open with a low opening balance of just Rs 500. This is a type of account where you will get all the banking facilities including free internet banking, free ATM card etc. Any resident of India can open this savings account singly or jointly.
- Premium Savings Account for Individuals
A premium savings account is a type of account which provides many banking services free of cost and levies low charges for some of the premium services. The cash withdrawal charges and cash deposit charges are all free for this type of account. Hindu Undivided Families, Societies, Clubs, Associations can open this account.
- PNB Prudent Sweep
This account can be opened as per RBI guidelines and is specially designed for individuals. One will get a free cheque book, auto sweep – out facility on balance above Rs 1 lakh. In this account you will have to maintain 50% concession charges for the first year.
- PNB SF Prudent Sweep for The Accounts of Institutions
This account is specially designed for institutions with low opening deposit of Rs 500. You will also get auto sweep – out facility, you will also get internet facilities, ease of transaction via internet banking services and many more.
- PNB Junior SF Account
This account is specially designed for juniors. Through this account PNB offers an attractive savings fund to minor citizens. This account is a zero-balance account which is created to encourage kids to save and manage money on their own. Minors above the age of 10 are allowed to operate this account by their own.
- PNB Vidyarthi SF Account
This account is for students customized to suit the needs of students of various recognized educational institutions. This account is available to students until they attain the age of 21. Helps them conduct basic banking services until completion of their education. Unlike other account this savings account also offers various banking services like, ATM cum Debit card facility, cheque book facility, free charges and many more.
- Basic Savings Deposit Account (BSBDA)
This is a basic savings account with zero-balance and comes with various facilities such as cheque books, ATM, no cap on the number of deposits into the account. One of the main advantages of this account is that illiterate and visually impaired people can also open this account.
- PNB Rakshak Scheme
This account can be opened by Defense personal (army, navy, air force etc). Under this account Personal Accident Cover and Air Accident Insurance Cover will be provided. Free SMS facility, banking facilities are available. No AMC charges on ATM/debit cards. Free classic or platinum ATM/debit card will be given, free NEFT/RTGS.
- PNB Pension Saving Account
This is a savings account for pensioners. This account is a zero-balance account and does not require minimum quarterly average balance, NEFT/RTGS transactions without any charges.
- PNB Power Savings Account
Power savings account is mainly designed for women. This account is launched by PNB as a sort of Women empowerment and a bid to aid women in the country. Any women who is resident of India can open this account. The women can choose when opening the account if she wants the sweep in/out facility or not.
Punjab National Bank Savings Account Interest Rate
|Balance||Rate of Interest (per annum)|
|Account balance up to Rs 10 lakh||2.70% p.a.|
|Above 10 lakhs||2.75% p.a.|
|Balance below 50 lakhs||3.5% p.a.|
|Above 50 lakhs||4%|
The rate of interest keeps on changing periodically based on market guidelines.
Minimum Balance Required
|Types of Account||Quarterly Average Balance Required|
|Premium Saving Account||Rs 50000|
|PNB SF Prudent Sweep for The Accounts of Institutions||Rural/Semi Urban: Rs 5000 Urban/Metro areas: Rs 10000|
|PNB Prudent Sweep for Individuals||Rural/Semi Urban: Rs 5000 Urban/Metro areas: Rs 10000|
|PNB Junior SF Account||NIL|
|PNB Vidyarthi Savings Account||NIL|
|Basic Savings Bank Deposit Account (BSBDA)||NIL|
|PNB Rakshak Scheme||NIL|
|PNB Shikshak Sweep Scheme||NIL|
|PNB Power Savings Account||Rs 500 in Rural Rs 1000 in other|
|PNB Pension Savings Account||NIL|
How to Open a Punjab National Bank Savings Account
You can open your savings bank account through both offline and online method. You can open your savings account through online method by visiting the official website of the bank and filling up the savings account form and providing all your documents and personal details.
One can also apply through offline method at your nearest bank branch. You can walk in to your nearest bank branch with all your required documents and you can open your account instantly.
Certain documents are required to open a savings account –
- Proof of Identity
- Proof of residence
- Dully filled form
- 2 passport sized photographs
- All your relevant documents in case of Associations, Clubs, Trust, Society etc.
1. Who is eligible to open savings bank account with PNB?
Ans: Any Indian residents is eligible to open savings account with PNB.
2. Does PNB offers debit cards for savings account?
Ans: Yes, PNB offers different types of debit cards to different types of savings account.
3. How much deposit it needs to open a savings account?
Ans: It varies from Rs 500 to Rs 1000.
4. What are the documents required to open a savings account?
Ans: Documents such as PAN Card number, Aadhar Card number, Income proof, Address proof, passport etc. are needed to open a savings account.
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