Punjab National Bank Zero Balance Account – Features, Benefits & Application Guide

A Zero Balance Account is a type of bank account that allows users to access banking services without maintaining a minimum balance. Punjab National Bank (PNB) offers this facility to promote financial inclusion, ensuring a seamless and stress-free banking experience for all.

Let’s understand this with the example of Rahul, a Sales Executive.

Rahul earns a monthly salary of ₹28,000. Earlier, he had a regular savings account that required him to maintain a minimum balance of ₹7,000. Due to his monthly expenses, he often found it difficult to maintain this balance and incurred penalties.

To avoid these penalties, Rahul switched to a PNB Zero Balance Account, which allowed him to manage his salary and expenses without worrying about maintaining a minimum balance.

Monthly Income & Expense Breakdown:

By switching to a PNB Zero Balance Account, Rahul effectively manages his finances without the burden of penalties, ensuring a smooth and convenient banking experience.

Types of Punjab National Bank Zero Balance Account

Punjab National Bank (PNB) offers different types of Zero Balance Accounts to promote financial inclusion and make banking accessible to all. These accounts are designed for students, low-income individuals, and those who need basic banking services without maintaining a minimum balance.

How to Open a Punjab National Bank (PNB) Zero Balance Account Online?

Step 1: 

Install the PNB One App from the Google App Store for Android Users, and for iOS users install it from the Apple App Store.

Step 2:

Open the PNB One App and click on "New User? Open Account" to start the account opening process.

Step 3:

Select “Digital Savings Account” or “Zero Balance Account” as the account type.

Step 4:

Enter your mobile number and email ID for verification. An OTP (One-Time Password) will be sent to your registered mobile number.

Step 5:

Enter the received OTP and proceed to the next step.

Step 6:

Provide your Aadhaar Number and PAN Card Details for KYC (Know Your Customer) verification.

Step 7:

Authenticate your Aadhaar details using the Aadhaar-based OTP sent to your registered mobile number.

Step 8:

Fill in your details, including your name, date of birth, and address, as per your Aadhaar card.

Step 9:

Select your branch preference where your account will be maintained.

Step 10:

Upload a passport-size photograph and a scanned copy of your PAN Card for verification.

Step 11:

Set up your nominee details (optional but recommended).

Step 12:

Review the entered details carefully and apply.

Step 13:

Once the verification is successful, you will receive a confirmation message along with your account number and customer ID.

Step 14:

Your PNB Zero Balance Account will be activated, and you can start using it immediately through the PNB One App or internet banking.

Note:

• Debit Card & Passbook: After successful account activation, you may receive a debit card and passbook (depending on the account type). You can visit the nearest PNB branch to collect them if not been delivered automatically.
  
  
• Internet Banking & Mobile Banking Activation: Once the account is active, you can set up your internet banking credentials through the PNB One App or PNB's official website.
  
  
• Minimum KYC Account Limitation: If the account is opened with e-KYC (Aadhaar-based), it may have certain limitations (e.g., transaction limits). A full KYC process at a branch can remove these restrictions.

How to Open a Punjab National Bank (PNB) Zero Balance Account Offline?

You can open a PNB Zero Balance Account by visiting your nearest Punjab National Bank branch and following these steps:

Step 1: Visit the Nearest PNB Branch

• Locate a nearby PNB branch and visit during working hours.
• Ask for the account opening form for a Zero Balance Account (PMJDY/BSBDA/Pension/Student Account).

Step 2: Fill Out the Application Form

• Carefully fill in your details such as:
  • Full Name
  • Date of Birth
  • Address
  • Mobile Number
  • Aadhaar/PAN Card details (if available)

Step 3: Submit Required Documents

Provide the necessary Know Your Customer (KYC) documents, including:

• Identity Proof: Aadhaar Card, Voter ID, Passport, Driving License, or NREGA Job Card
• Address Proof: Utility Bill, Aadhaar Card, or Ration Card
• Photographs: Two recent passport-sized photos
• PAN Card/Form 60: If PAN is unavailable, Form 60 can be submitted.

Step 4: Verification Process

• The bank will verify your documents and application details.
• If Aadhaar is linked to your mobile number, OTP verification may be required.

Step 5: Account Activation

• Once verification is completed, your Zero Balance Account will be activated.
• You will receive your Account Number, Passbook, and Debit Card (if applicable).

Step 6: Access Banking Services

• You can register for PNB NetBanking & Mobile Banking for online transactions.
• Use your RuPay Debit Card for ATM withdrawals and purchases.

Your PNB Zero Balance Account is now ready for use! You can deposit and withdraw money anytime without worrying about maintaining a minimum balance.

Punjab National Bank Zero Balance Account Fees & Charges

Fees & Charges

Charges for Outward RTGS/NEFT/IMPS Transaction charges in Savings Account:

RTGS

NEFT

IMPS

Punjab National Bank Zero Balance Interest Rates

Interest Earnings on Punjab National Bank (PNB) Zero Balance Account

Example: Mr. Rajesh Sharma’s Savings Account Interest Calculation

Mr. Rajesh Sharma, a retired government employee from Jaipur, has deposited ₹15,00,000 in his PNB Zero Balance Savings Account. He wants to estimate his annual and monthly interest earnings based on the bank’s interest rate structure.

Applicable Interest Rate Breakdown:

Monthly Interest Calculation:

• Annual Interest Earned: ₹40,750
  
  
• Monthly Interest: ₹40,750 ÷ 12 = ₹3,395.83
  
  

Since Mr. Rajesh Sharma maintains this balance consistently, he earns approximately ₹3,395.83 per month as interest, which is credited quarterly to his account. This allows him to maximize his savings while enjoying the benefits of a Zero Balance Account.

Eligibility Criteria for Punjab National Bank Zero Balance Account Opening

Required Documents for Punjab National Bank Zero Balance Account Opening

Note:

• A customer needs to submit only one Officially Valid Document (OVD) for both proof of identity and address.
• If the provided identity proof (e.g., PAN Card) does not contain the address, an additional document for proof of address is required.

Punjab National Bank Zero Balance Account Helpline

For any inquiries related to PNB Zero Balance Accounts, customers can contact Punjab National Bank's Customer Care Center through the following options:

Customer Care Center

• Toll-Free Numbers: 1800-1800 | 1800-2021
• Toll Number: 0120-2490000
• Email: care@pnb.co.in
• Working Hours: 24x7x365
• Languages Supported: Tamil, Telugu, Kannada, Malayalam, Punjabi

Other Contact Options

• Missed Call Service: Get account balance details by giving a missed call to 1800-180-2223.
• PNB ONE App: Use the PNB ONE mobile app for banking services.
• WhatsApp Banking: Avail various account-related services via WhatsApp.

Grievance Redressal

• Principal Nodal Officer: If your issue remains unresolved, escalate it by emailing care@pnb.co.in.
• Lodge a Complaint: Complaints can be registered at the branch where your account is maintained or through the Customer Care Center.

PNB Credit Card Customer Care

• For credit card-related queries, call 1800-180-2345 (toll-free).

Punjab National Bank provides multiple customer support channels, ensuring smooth and efficient banking services.

Punjab National Bank Zero Balance Account Welcome Kit

The Punjab National Bank (PNB) Basic Savings Bank Deposit Account (BSBDA), commonly known as a zero-balance account, offers essential banking services without the requirement of maintaining a minimum balance.

Upon opening a BSBDA account, customers receive a welcome kit, which includes:

• A debit card for easy transactions
• A PIN envelope for secure card usage
• An initial chequebook (for eligible account holders)
• A passbook to track transactions and account details

This account is designed to provide seamless banking services while ensuring financial inclusion for all.

Example: Ms. Neha Agarwal’s Punjab National Bank Zero Balance Account Welcome Kit.

Ms. Neha Agarwal, a school teacher from Lucknow, decided to open a PNB Zero Balance Savings Account to conveniently manage her salary and daily expenses. After completing the account opening process, she received her PNB Welcome Kit, which included all essential banking tools.

Contents of Neha’s Welcome Kit:

With her PNB Welcome Kit, Neha could now withdraw cash, make payments, and monitor her account transactions effortlessly. The zero balance feature ensured she could use her account without worrying about maintaining a minimum balance, making banking more convenient and stress-free.

Conclusion

The PNB Zero Balance Account is a well-structured financial offering designed to provide accessible banking services to all, especially those from economically weaker sections, students, salaried employees, and senior citizens. With no minimum balance requirement, it eliminates financial barriers and promotes the habit of saving among individuals who may not have regular income streams.

This account comes with essential features such as a free passbook, debit card, and access to digital banking platforms, ensuring that customers can manage their finances conveniently. Additionally, PNB provides multiple customer support channels, including toll-free helplines, WhatsApp banking, and the PNB ONE mobile app, enhancing user experience and service accessibility.

Furthermore, the availability of services such as IMPS, NEFT, RTGS, missed call banking, and standing instructions allows customers to carry out seamless transactions without any hassle. The inclusion of financial safeguards for visually impaired and illiterate individuals highlights PNB’s commitment to inclusive banking.

Overall, the PNB Zero Balance Account serves as a hassle-free, cost-effective, and efficient banking solution, ensuring that essential financial services are within reach for everyone, thereby fostering financial independence and empowerment.

FAQ’s

Who can open a PNB Zero Balance Account?
Any individual, including students, salaried employees, senior citizens, and low-income individuals, can open this account. Minors above 10 years can also operate it independently.

Is there any minimum balance requirement?
No, the PNB Zero Balance Account does not require any minimum balance, making it accessible to all.

What documents are required to open the account?
A valid ID and address proof (Aadhaar, PAN, Passport, Voter ID, etc.) is required. For minors, a guardian’s documents may be needed.

What facilities are available with this account?
Customers get a free passbook, debit card, digital banking access, fund transfer options (IMPS/NEFT), and customer support services.

Can I get a chequebook with this account?
Yes, an initial chequebook is provided for eligible account holders. Additional chequebooks may be chargeable.

How can I check my account balance?
You can check your balance via missed call service (1800-180-2223), PNB ONE app, net banking, ATM, or visiting a branch.

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