Punjab National Bank savings account: Minimum balance limit raised; check details (2024)

Punjab National Bank (PNB) has announced hike in service charges pertaining to general banking operations (non-credit related service charges). The same will be applicable from January 15, 2022 and include services like quarterly average balance, non-maintenance of minimum balance, locker charges, among others.

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Here is the list of all the charges to be hiked by PNB:

Minimum balance requirement

Minimum balance requirement and charges for not maintaining minimum balance in the account in rural area will be hiked from Rs 5,000 to Rs 10,000, PNB said on its website.

Charges for not maintaining minimum balance in the account

The quarterly charges for non-maintenance of minimum balance will be hiked to Rs 400 in rural areas and Rs 600 in urban and metro areas.

Closure of account

Current accounts closed within 14 days from the opening of account will be revised to Rs 800 from Rs 600. There will be no charges on accounts closed after 12 months.

Bank locker charges

PNB will also hike its locker rental charges across rural, semi-urban (SU), urban and metro areas. The locker charges will be hiked in urban areas by Rs 500.

Transaction fee in saving accounts

PNB will allow three free transactions every month, after which Rs 50 per transaction will be charged as service fee.

Cash handling charges

The bank will lower its cash deposit limit on both saving and current accounts. The free deposit limit per day will be reduced to Rs 1 lakh from the existing Rs 2 lakh, and above Rs 1 lakh 10 paisa per piece would be charged and be applicable on both base and non-base branches, the PNB website said.