Punjab National Bank Savings account interest rates start at 2.80% p.a. and can reach 2.70% p.a. This account can be opened by residents, Hindu Undivided Families (HUFs), groups, societies, and so on. The minimum deposit amount starts at Rs. 500, and some accounts also require you to keep an average quarterly balance.
The Punjab National Bank Savings account also provides interesting features, benefits and a lot more to secure finances.
Following is the PNB Saving Account interest rate-
Account Balances |
Interest Rate |
Below Rs. 10 lakhs |
2.70% |
Above Rs. 10 lakhs |
2.90% |
One can open a savings account with Punjab National Bank by visiting the local bank branch or online. PNB online open saving account procedure includes the listed steps-
Step 1: Go to the PNB website.
Step 2: To proceed, go to the 'Products menu, then to the 'Deposit' menu, then to the 'Savings Accounts section.
Step 3: Read and comprehend all of the different savings accounts' product features, perks, and terms and restrictions. Additionally, after selecting an account to invest in, create a login and begin investing.
Step 4: To proceed, enter your Full Name, Email Address, Mobile Number, and City.
Step 5: Fill out the online application form with all of your information and upload your Know Your Customer (KYC) documents.
Step 6: A Temporary Customer Reference Number (TCRN) is generated upon submission of the application form.
Step 7: After the application is approved, the account is activated within 3-5 working days.
Thus, one can open PNB online savings account by following these above-mentioned steps.
If you want to open any savings accounts offline from Punjab National Bank, you can do so by visiting the local PNB branch. This is the other method apart from the Punjab National Bank online savings account.
While applying for a new savings account with PNB, customers must submit the following documents-
Customers must meet certain requirements in order to create a savings account with Punjab National Bank.
Following are the various types of Savings Accounts that can be opened at PNB-
This form of savings account can be opened by resident persons, either alone or in groups, as well as Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies, and so on. Institutions may also open this account if specifically authorized by the RBI.
PNB Prudent Sweep accounts can be formed in accordance with RBI guidelines for creating Savings Fund Accounts for individuals/institutions. Sweep In and Sweep Out are performed (in savings accounts) if the account balance exceeds Rs. 50,000 (with a minimum sweep-out/sweep-in of Rs. 5,000).
Defense personnel can open the account. Personal Accident (Death) Insurance and Air Accident (Death) Insurance will be supplied under the account. If any transactions are completed, a free SMS notification will be delivered.
Individuals (individually or jointly), Societies, Clubs, Associations, Hindu Undivided Families (HUFs), Trusts, and other entities are eligible to open this account. Each of these entities must meet the Reserve Bank of India's eligibility standards (domestic depositors) in terms of the 'Know Your Customer (KYC) Guidelines.' Cash withdrawal fees at all branches and cash deposit fees at the base branch are waived for this type of account.
BSBDA can be opened by an individual in his or her own name or jointly by minors aged 10 and up (under guardianship). This account is also accessible to the illiterate and visually challenged.
PNB provides an appealing savings fund to youngsters with this account. Minors over the age of ten can open and manage this account through their natural or legally designated guardian.
Type of Fee |
Amount (Rs.) |
Charges for Not Maintaining the Minimum Balance |
Rs. 400 for Rural and Rs. 600 for Urban Account holders. |
Cheque Transfer Charges |
Rs. 150 - Rs. 500 |
A savings account with Punjab National Bank has several advantages. An overview is provided below.