PNB Saving Account – Features, Interest Rates & Types Explained

Ankit, a young professional, opened a PNB savings account early in his career. He chose PNB because it offered a simple and easy way to save without worrying about maintaining a high balance. The no-minimum balance option made it even easier for him to get started. Over time, Ankit saw his money grow with attractive interest rates, helping him build a solid financial foundation.

Just like Ankit, many consider PNB as an ideal entity that provides reliable services. In recent times, PNB said that it saw domestic deposits surge by 14.4% in the October-December quarter (Q2FY25). Such is the growth that slowly and steadily more and more people are moving to PNB for their savings. The loan portfolio of the bank also went up to 14.1%.

PNB savings accounts allow easy access to your funds in case of emergencies or urgent needs. You can also get a debit card to withdraw cash whenever necessary. No maintenance fees, interest on deposits, and the freedom to manage your money easily; that is how PNB helped Ankit secure his future, just like many others today.

About PNB Savings Account

Punjab National Bank provides savings accounts for individuals, HUFs, clubs, and others, which are suitable for a variety of requirements. Each account type has benefits such as easy eligibility, smooth transactions, and safety deposit boxes. Convenience, security, or simple banking—PNB's savings accounts have everything you need to make managing your money easy and hassle-free.

Interest Rates of PNB Savings Account 2025

Here’s the PNB Savings Account interest rate for 2025

Types of PNB Savings Accounts

PNB Junior SF Account: The PNB Junior SF Account is a savings account for children that encourages saving and money management. It has no minimum balance or initial deposit requirement. Children can open the account with the help of a parent or guardian, and those above 10 years old can operate it on their own with proof of age.

PNB Prudent Sweep: PNB Prudent Sweep is an auto sweep facility that sweeps surplus funds in your savings account to a fixed deposit, yielding higher interest rates. The minimum deposit is ₹500, with an FD tenure ranging from 7 days to 1 year and free banking services.

PNB Salary Account: This salary account has no initial deposit and is offered to employees whose monthly income is ₹1 lakh or more. The salary gets credited to the account holder, and benefits such as overdraft facilities are available along with other banking services.

PNB Unnati Saving Fund Account: The PNB Unnati Saving Fund Account is a savings account for a single, joint account, trust account, and other various accounts. It offers features like interest on deposits, free transfers within PNB, free internet banking, an ATM card, fast transfer by NEFT/RTGS, and safe deposit lockers.

PNB Pension Savings Account: The PNB Pension Savings Account is a zero-balance account for pensioners with no minimum balance requirement. It offers NEFT/RTGS services, making it ideal for those without a steady income.

PNB Arogya Saving Scheme: The PNB Arogya Saving Scheme is a savings account which comes with health insurance cover and a Rupay classic debit card. Higher ATM withdrawal limits and increased daily POS/e-commerce transaction limits. Open to persons in the age bracket of 18-60.

PNB Samman Savings Account: The PNB Samman Savings Account is a Government of India scheme for women and girls. It matures after two years. It allows women to open it in their name and guardians to open it for minors. It gives a fixed rate of interest and can collect up to ₹2 lakh.

PNB Secured Saving Scheme: It also has a PNB Secured Saving Scheme offering a Rupay platinum debit card and life insurance, offered to 18-50-year-olds, whose benefits are nominees life insurance coverage, account holder survival with a refund of the premiums, and an annual free cheque book.

PNB Select Savings Account: The PNB Select Savings Account comes with a credit card, a Rupay International Platinum debit card with a ₹50,000 daily limit, and reduced charges for home and car loan documentation. It also offers 15% discounts on locker rentals to customers.

PNB Premium Savings account: It provides 2.90% interest on balances over ₹50 lakhs, a platinum debit card with two add-on cards, and accidental insurance up to ₹2 lakh. It provides 60 free cheque leaves, a 50% discount on locker rent, and no non-maintenance charges if the minimum balance is maintained. Available for individuals, clubs, societies, and more.

PNB Family Protection account: It offers flexibility in premium payment to be paid monthly or annually, coverage for a spouse, and a maturity payment of 110% of premiums paid. The PNB Family Protection Account is a savings account with life insurance, providing the beneficiary with a monthly income if the account holder dies.

PNB Vidyarthi SF Account: The PNB Vidyarthi SF Account is a zero-balance savings account for students, providing free demand drafts, debit cards, chequebooks, and banking services. It is valid till one is 21 years old. It can be extended up to 25 years old, after which it becomes a general account.

Basic Savings Bank Deposit Account: The PNB Basic Savings Bank Deposit Account (BSBDA) is a basic account with no minimum balance or initial deposit. The account allows free cash withdrawals up to a limit each month and provides a free ATM-cum-debit card. Free reactivation of the account is also available. 

PNB Power Savings: PNB Power Savings is a savings account specially designed for women and provides the following facilities. Accidental death insurance to the tune of ₹2-5 lakh, 40 free cheque leaves per year, one free demand draft per month of up to ₹10,000, a platinum debit card, and a ₹50,000 daily withdrawal limit. 

Benefits of PNB Savings Account

Here’s a summary of the facilities offered with a PNB savings account

What is the required minimum balance for a PNB savings account?

Here’s the minimum balance requirement for various PNB savings accounts

What Penalty is Charged for Not Maintaining a Minimum Balance in PNB?

The penalisation for not maintaining the minimum balance in a PNB savings account varies with account type and shortfall amount

Rural accounts:

More than or equal to 50% shortfall: ₹100

Less than 50% shortfall: ₹50

Semi-urban accounts:

More than or equal to 50% shortfall: ₹150

Less than 50% shortfall: ₹100

Urban and metro accounts:

More than or equal to 50% shortfall: ₹250

Less than 50% shortfall: ₹150

What are the Charges for PNB Savings Accounts?

Here’s the table summarizing the charges for outward RTGS, NEFT, and IMPS transactions in SF/CA/OD/CC accounts

This table covers the charges for RTGS, NEFT, and IMPS transactions for different account types (SF/CA/OD/CC/Saving/Current).

What are the Transaction Limits for a PNB Savings Account?

The transaction limits for a Punjab National Bank (PNB) savings account depending on the transaction type

Cash Payments:

• To third parties: Up to ₹50,000 per day
• Self-drawn checks: Up to ₹5 lakh at non-base branches

Cash Withdrawals:

• Free withdrawals: Up to 5 per month
• After free limit: ₹2 per ₹1,000 withdrawn

Debit Transactions:

• Free transactions: Up to 50 per year
• After the free limit: ₹10 per transaction

Online Banking:

• Overall limit: ₹10 lakh
• IMPS: ₹2 lakh
• Quick transactions: ₹10,000
• Third-party transfers: ₹10 lakh
• NEFT/RTGS: ₹10 lakh
• UPI transfers: ₹50,000
• Mobile/DTH recharges: ₹50,000
• Bill payments: ₹50,000

ATM Withdrawals:

• Per day: Up to ₹25,000
• Per withdrawal (PNB ATMs): ₹20,000
• Per withdrawal (Other bank ATMs): ₹10,000

How to Open a Savings Account in PNB?

Required Documents to Open a Savings Account in PNB:

• Proof of identity: PAN card, voter ID, passport, or driving license
• Proof of address: Voter ID, passport, driving license, or utility bill
• Two passport-sized photographs.

Eligibility criteria for a PNB savings account

• Age: Minimum 18 years
• Nationality: Must be an Indian resident

Here’s a step-by-step process on how to open a savings account in PNB offline

1. Visit the nearest branch of PNB.
2. Go to the new account section and ask for an application form.
3. Fill out the application form carefully.
4. Submit the application form along with the documents.
5. The bank will verify the documents.
6. Once approved, the account will be opened within a few business days.

Here’s a step-by-step process on how to open a savings account in PNB online via the PNB website

1. Visit the official website of PNB Bank.
2. Click on the ‘Products’ option, the 3rd option in the navigation bar.
3. Click on the ‘Deposits’ option.
4. Click on ‘Read More’ under Savings Fund Accounts.
5. Choose an account type and read the terms and conditions
6. Now click on the ‘Download Forms,’ the 8th option in the navigation bar.
7. Select an account type and click on it.
8. On the next page, you’ll get an application form.
9. Fill out the application form with your details.
10. Submit the application form along with the required documents.
11. Wait for the bank to review your application and activate your account.

Here’s a step-by-step process on how to open a savings account in PNB online via the PNB app

1. Download the ‘PNB ONE’ app from the Google Play Store or Apple Play Store.
2. Install the application on your device.
3. Open the app and click on the ‘Open Account’ option.
4. Click on the ‘Apply for Savings Account’ option.
5. Select the account type from the drop-down menu and click on ‘Proceed.’
6. Choose the account type and click on ‘Select Product.’
7. Agree to the terms and conditions and click on ‘Proceed.’
8. Enter your mobile number and email ID, agree to the terms and conditions, and then click on ‘Proceed.’
9. Enter the OTP received on your registered mobile number and click on ‘Verify & Proceed.’
10. Enter your Aadhar card number, agree to the terms and conditions, then click on ‘Proceed.’
11. Enter the OTP received on your registered mobile number and click on ‘Verify & Proceed.’
12. Enter your PAN card number and click on ‘Proceed.’
13. Fill in the basic details and click on ‘Proceed.’
14. Fill in your other personal details and click on ‘Proceed.’
15. Fill in your details related to branch selection, digital services, facility type, etc, and click on ‘Proceed.’
16. Agree to the terms and conditions and click on the ‘Submit’ button.
17. Review the details and click on ‘Submit.’
18. Your application reference number will be generated; note it down.
19. Click on ‘Download PDF’ to download your application form.
20. Now, complete your video KYC by clicking on ‘Proceed for Video KYC’ to complete the process.

How to Close a PNB Savings Account?

1. Visit the PNB branch where your account is held.
2. Request the account closure form.
3. Fill in the application form with the required details.
4. Withdraw any remaining balance and clear any dues.
5. Collect the necessary documents:

• ID proof
• Address proof
• Debit card
• Chequebook

• Passbook

  6 Submit the form along with the required documents to the bank.

Tips while opening a savings account in PNB

Here are some tips for opening a Punjab National Bank savings account:

Select the right account: The right account should be chosen to select an account that best suits one's needs.

Prepare documents: Gather identity proof, residence proof, and so on.

Complete the application: Fill in all the information with accuracy and then choose your desired account type.

Submit the application: You can apply online or submit your application at a PNB branch.

Initial deposit: Deposit the minimum balance that your account requires.

Customer Care Details

The customer care number for Punjab National Bank (PNB) savings accounts is 1800 1800. 

You can also call 1800 2021 for assistance.

Other PNB customer care numbers

• Global users: +91 120-249-0000
• NRI customer service: Toll-free numbers for specific countries
• PNB investment services: +91(22)26532745

You can also email PNB customer care at care@pnb.co.in.

Conclusion

A PNB savings account offers all that you might need for convenient and secure management of your funds. From an attractive interest rate to no requirement of minimum balance, free cheque leaves, debit cards, online banking, and several other convenient facilities, PNB makes saving money and accessing the funds hassle-free. 

With many types of accounts being designed for particular needs, be it a salary account, pension account, or even a student's account, there is something at PNB for everyone. Whether you want to save for the future, manage day-to-day expenses, or benefit from additional services like safe deposit lockers, PNB's savings accounts are a great choice to secure your financial well-being.

FAQs related to PNB Savings Account

Q1: Who can open a PNB Savings Account?

A PNB Savings Account can be opened by a person either singularly or jointly. A minor aged 10 years and above, as well as minors under natural or legal guardianship, are also allowed to open an account. A savings account may also be opened by an illiterate or a blind person along with the usual safeguards.

Q2: What are the new rules for saving accounts?

Dormant, inactive, and zero-balance savings accounts will be closed as of January 1, 2025, under new guidelines issued by the RBI. To avoid having accounts closed, account holders either need to reactivate dormant accounts by transactions or interact with dormant accounts through the bank's branch.

Q3: What is the golden rule for savings?

The 50-30-20 budgeting rule is also a good tool for saving. It advises allocating 50 percent of your take-home pay toward necessary expenses, 30 percent toward discretionary expenses, and the rest 20 percent toward savings. This balanced system helps you budget your finances but also ensures regular savings.

Q4: What is the ATM withdrawal limit for PNB?

PNB allows up to ₹25,000 daily for ATM withdrawals. For POS (Point of Sale) and E-commerce transactions, the limit stands at ₹60,000 based on the balance available in the card. Thus, it is suitable for personal and corporate use.

Q5: How can I check my PNB account balance?

You can easily check your PNB account balance using your mobile phone. Simply give a missed call to the PNB balance inquiry number 1800-180-2223, or send an SMS with the format 'BAL<16-digit account number>' to 5607040.

Q6: How many ATM transactions are free in PNB?

PNB is offering the first 5 free ATM transactions a month. And for any sort of financial transaction beyond this free limit, PNB charges a fee of Rs. 10. However, non-financial transactions, which include balance enquiries, are totally free.

Q7: How much savings can I withdraw per day?

The cash withdrawal limit from a savings account is Rs. 1 lakh per day. But, if you deposit Rs.2.5 lac in cash, then again it is not restricted to do so frequently, but can be done.

Q8: Can 2 lakhs be put in a savings account?

YES, one may deposit up to 2 lakhs in the Saving Account. Deposition of money in cash at an amount equal to or higher than 1 lakh attracts a notice from Income Tax. Amount of annual maximum permissibility by a savings bank account is 10 Lakhs.

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