1. Punjab National Bank
2. PNB Power Savings
3. Benefits of the PNB Power Savings
4. PNB Deposit Features
Punjab National bank
Punjab national bank, abbreviated as PNB, is an Associate in Nursing Indian public sector bank headquartered in New Delhi, India. The bank was supported in 1894 and is that the second-largest public sector bank (PSB) in India, each in terms of business and its network. The bank has over a hundred and eighty million customers, 10,910 branches, and 13,000+ ATMs post-merger with United Bank of India and Oriental Bank of Commerce, effective from one April 2020
Punjab National Bank’s bank account offers interest rates beginning at 3.00% p.a. The rate additionally goes up to 5.25% p.a. Resident people, HUFs, clubs, societies, etc., will open this account. The minimum deposit quantity starts from Rs. five hundred and a few accounts need you to take care of a median quarterly balance too. It additionally offers free internet banking facilities, ATM/Debit card, safe deposit lockers, and lots of different advantages.
• Interest rate for savings fund account balance up to Rs.50 lakh: 3.00%p.a.
• Interest rate for savings fund account balance higher than Rs.50 lakh: 3.00% p.a
• Initial deposit at gap of account: Rs.500
• Minimum quarterly average balance: Rs.1, 000 to Rs.2, 000
Savings accounts area unit provided by banks to its customers, to assist them to keep their monetary savings within the safe custody of the bank, whereas creating them earn Associate in nursing interest on constant. PNB guarantees the complete safety of your cash and ensures that it’s among your simple reach. The bank offers engaging rates of interest on your bank account, to boost your earnings. PNB contains a widespread network of ATMs across the state that allows you to own access to your cash as per your convenience. PNB’s on-line banking facility additionally provides the constant facility. To suit the various monetary would like of shoppers, PNB offers a good vary of savings accounts. Opt for the one that suits you best.
PNB Power Savings
The Power Savings bank account was launched by the Punjab National bank as a kind authorization and in an exceedingly bid to help women within the country. Eligibility criteria for the PNB Power Savings Account:
- Any lady WHO is an Associate in Nursing Indian resident is eligible for PNB’s Power bank account.
- The lady will even open a joint account beneath this theme, though’ the primary name of the account ought to be that of the lady.
- The lady client will opt for once gap the account if she needs the sweep in/out facility or not.
Benefits of the PNB Power Savings
- The minimum quarterly balance for ladies hailing from rural areas ought to be Rs.500 and for ladies from urban areas, the minimum quarterly balance ought to be Rs.1,000.
- The initial deposit to open the PNB Power Savings is Rs.500.
- For people not maintaining the minimum quarterly balance, penalty charges apply.
- Every client beneath the PNB Power Savings gets forty cheque leaves a year utterly free.
- Every month, a client is granted one free demand draft with the utmost being Rs.10, 000.
- 25% concession for rental lockers for the primary year of subscription solely.
- No processing fee whereas availing House, automotive or Personal loans.
- Every member of the theme is given a Pt charge account credit once gap the account, with the withdrawal limit for the day being Rs.50,000.
- For domestic looking, the swipe limit is Rs.1.25 lakh.
- Every client of the theme is eligible for Associate in nursing accidental death insurance cowl between Rs.2 hundred thousand to Rs.5 lakh. The conditions to earn the accidental death insurance cowl of Rs.5 hundred thousand area unit listed below:
- The quarterly balance before death ought to be Rs.25, 000 or additional.
- Should have created a minimum of one POS/E-Com dealing within the last 3 months.
- Should have used their Pt charge account credit a minimum of once within the last forty-five days.
- For those holding a Classic charge account credit, the non-public Accident Insurance is curtailed to coverage of Rs.100, 000 solely.
- If the client has used his/her Pt charge account credit over the last forty-five days nonetheless has not consummated the primary and second condition, then the Accidental Death Insurance is restricted to Rs.2 lakh.
PNB Deposit Features
PNB FDs area unit one the most effective investment choice obtainable for depositors WHO area unit wanting to take a position in an exceedingly mounted financial gain instrument and earn higher returns than a bank account. Key options of PNB mounted Deposit are:
- Deposit Amount: PNB FD may be opened with Associate in nursing quantity as an occasional to up to No Limit.
- FD Tenure: Ranges between seven days to ten years.
- Interest Rate Range: 3.00% p.a. to 5.30% p.a.
- Senior voters FD Rate: 3.50% to 5.80% p.a.
- Highest Interest Rate: As per today’s rate, PNB’s highest rate on FD is 5.30% offered for tenure of ten years.
- Safety of PNB Deposits: PNB deposits area unit coated beneath the Deposit Insurance theme of run batted in within which up to ₹ 5, 00,000 of all deposits of an investor area unit insured by DICGC.
- Loan against FD: PNB provides a loan against FD to assist its investor to meet their liquidity needs while not breaking the FD.
- Auto-Renewal Facility: obtainable
- Nomination Facility: obtainable
- Popular FD Schemes: Regular mounted Deposits, FD theme For Road Accident Victims, PNB Anupam Term Deposit theme, PNB BalikaShiksha mounted Deposit theme, Multi profit, theme For Road Accident Victims for Minors, PNB Sugam Term Deposit theme, PNB SwechhaJamaYojna Flexi FD theme, PNB standard Term Deposit theme, PNB VarshikAayYojana Deposit theme, PNB Tax Saver mounted Deposit theme, Prospective old person Term Deposit theme, PNB Mibor joined Notice Deposit theme, PNB Bulk mounted Deposit theme