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Open Bank Account in PNB : PNB(Punjab National Bank) is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be PNB. Opening a Bank Account in PNB is not just visiting the Branch and getting your Bank Account opened immediately. There are a few formalities which you must complete to get a PNB Bank Account. Also, you must know about the eligibility criteria to open a new bank account in PNB . Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in PNB.
How to Open a Bank Account in PNB ?
Before we move ahead to know the procedure to open a bank account in PNB, let us first know about the eligibility to open PNB Bank Account.
Eligibility to Open a Bank Account in PNB
Before you make a visit to PNB, it’s a good thing to check whether you meet all the criteria for opening an account with PNB. Most of the PNB Branches will require the following :
1) Applicant must be an Indian Citizen.
2) Applicant must be over 18 years of age(Except Minor Account).
3) Applicant must have the necessary KYC Documents to open PNB Bank Account. Usually Proof of Address, Proof of Identity and PAN Card is required.
4) Applicant should have a Guarantor who has a Bank Account in the same branch of PNB (Sometimes not needed).
5) Applicant must have minimum deposit amount for the Account(Not applicable for some accounts). For Example :- Rs.1000 is required to open a normal Savings Account in PNB.
Types of Bank Accounts offered by PNB
Once you know that you are eligible to open a bank account in PNB, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by Punjab National Bank.
1) Saving Deposit – General Account : This type of savings account can be opened by an individual – singly or jointly, Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc. Institutions can also open this type of Saving account if they are permitted by RBI.
2) PNB Premium Saving Account : This type of savings account can be opened by an individual – singly or jointly), Associations, Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc. The Applicant has to fulfil the eligibility criteria (domestic depositors) of RBI, as per ‘Know Your Customer (KYC) Guidelines’. The cash withdrawal charges and cash deposit charges at the home branch, for this type of account is free.
3) Family Suraksha Bachat Khata : This account gives you a Term Assurance with Return of Premium (TROP) plan with your savings account. In case of the death of the Life Insured, the monthly income benefit of the Account Holder is given to the nominee so that he can manage the family’s expenses. This product is an combination of savings fund and insurance plan available to an individual, aged between 25-60 years.
4) PNB Prudent Sweep : PNB Prudent Sweep can be opened according to RBI directives for opening Savings Fund Accounts of individuals/institutions. Sweep In and Sweep Out takes place (in savings accounts) only if the account has a balance over Rs. 40,000 (with a minimum sweep-out/ sweep-in of Rs. 10,000). Staff members of Punjab National Bank can also get an account under this Scheme.
5) PNB Junior SF Account : Through this account PNB provides a savings fund to minor account holders. Minors above 10 years old can open this account and operate it via his/her legally appointed guardian.
6) PNB Vidyarthi SF Account : PNB Vidyarthi SF account is a Students Only Account. The student opening this Account must be enrolled at a recognised educational institution. The account holder can make use of this scheme only till the age of 21.
7) Basic Savings Bank Deposit Account (BSBDA) : BSBDA can be opened by an individual in individually or jointly, minors aged 10 years and above (under a legally appointed guardian). Illiterates and visually impaired people are also eligible to open this account.
8) Total Freedom Salary Account : Corporate employees can get this Account to get their salary credited to this account, and also enjoy the benefit of an overdraft facility of up to Rs. 50,000 or the last salary credited (whichever is lower).
9) High End Salary Account : This type of Savings Account is for permanent employees (of a company) who are getting a salary of Rs. 1 lakh and above, per month. Their salary gets deposited in this account, and they can also make use of overdraft and other facilities.
10) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.
Read Also : Types of Joint Accounts in India
Steps to Open a Bank Account in PNB
Once you have checked your eligibility and made up your mind with one of the bank accounts, you can proceed with the steps to open PNB Bank Account.
1) Gather the required KYC Documents : The first and the foremost thing to do is to gather all the necessary KYC documents to open a Bank Account in PNB. You will need to provide the photostat copies of your Address Proof, Identity Proof, PAN Card, 2 Passport Size Photographs. Also, you would be required to produce the originals during verification process.
2) Collect & Fill Account Opening Form : Once you have gathered all the documents, you need to collect PNB Account Opening Form from any branch of PNB. Fill up PNB Account Opening Form completely and put your signature wherever required. You can also take help of PNB Officials if you have problem in filling up the form. You can also apply for Internet Banking and Mobile Banking through this form. However, you need to activate PNB internet banking and mobile banking separately.
3) Visit the Branch : After you have the duly filled PNB Account Opening form and the necessary KYC Documents, you need to visit the PNB Branch in which you want to open your Bank Account.
4) Verification of Form & Documents : Talk to the Accounts Person or the Branch Manager about the Verification of form and KYC documents for new bank account. You will then be sent the concerned person for verification of form and the documents. Once the verification process is complete, you can proceed to the next step.
5) Submit Minimum Deposit Amount : Submit the minimum deposit amount by filling up the cash voucher by entering the amount as per the bank account you opted for. Example : – Rs.1000 in case of a Regular Savings Bank Account. You need to write New Account in place of your name in the cash deposit voucher.
6) Collect Passbook and ATM Card : Finally, you will be getting your PNB Bank Passbook and ATM-cum-Debit Card with your ATM Pin. Your ATM will take 1-2 days to get activated and your first transaction should be done by using PNB ATM only. If you want a custom ATM Card with your name on it, you need to apply for it separately.
Note : If you have applied of a Cheque Book and/or Internet Banking, then you will be getting your Cheque Book and Internet Banking credentials by post at your registered address.
Good Practices after you get a Bank Account in PNB
1) If you can memorize your Bank Details, PINs and Passwords , it’s a good idea to commit the following information to your memory so that you don’t need to rely on the documents in the future.
2) To make it more safe, Make a note of your Account Number, ATM Card no., PIN etc at a safe and secure location.
3) Save PNB Customer Care Number in your mobile phone.
4) Contact PNB customer care in case of any mishap with your Bank Account or if you have lost ATM card. If you think your account information has fallen into wrong hands, you must call or visit PNB to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block PNB ATM Card ?
Things you must know before opening a bank account in PNB
You must know some important things before you apply for a bank account in PNB. You can clear the queries mentioned below at any PNB Branch or by calling PNB Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in PNB ? If so, what is it?
- Is there a minimum balance that I must keep within this PNB account? If so, what is it? What sorts of fees have to paid if I go under that limit?
- What is the interest rate of my PNB Account? How often is the interest generated ?
- Is there any limit to the amount of transactions per month (deposits/withdrawals, ATM uses)?
- Where all can I withdraw cash without paying any extra fees ?
- What is the fee for using other than PNB ATM ?
PNB Customer Care Numbers
At any point of time, you need help from PNB Customer Care department, you can either reach them on the Toll Free numbers given below or can opt to write at the e-mail address mentioned below.
Toll Free Numbers : 1800 180 2222 / 1800 103 2222 / Tolled No. 0120-2490000
Landline : 011-23714562
Write to PNB Customer Service Department : [email protected]
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