E-Paper
PNB revises five savings bank account service charges, minimum balance, locker fees, DD, cheque
The revision of charges by PNB includes a minimum average balance, issuing demand drafts, duplicate DDs, cheque return costs, and locker rent charges
Punjab National Bank (PNB) has made changes to some credit-related service costs when it comes to savings accounts, including a minimum average balance, demand draft issue, duplicating DDs, cheques (including ECS), return costs, and locker rent charges.
These new charges are applicable from October 1, 2024.
What are the details of the revised charges?
1. Charges for not maintaining minimum average balance
PNB is switching the maintenance of average balance from quarterly to a monthly basis.
The quarterly average balance required is as follows:
Rural: ₹500
Semi Urban: ₹1000
Urban & Metro: ₹2000
The minimum monthly average balance required is as follows:
Rural: ₹500
Semi Urban: ₹1000
Urban & Metro: ₹2000
| QAB Shortfall | Rural | Semi-Urban | Urban/Metro |
| Up to 50% | ₹50 | ₹100 | ₹150 |
| Above 50% | ₹100 | ₹150 | ₹250 |
| Area | Minimum applicable Charges | Maximum applicable Charges | Shortfall percentage |
| Rural | ₹1 | ₹30 | 6% |
| Semi Urban | ₹1 | ₹60 | 6% |
| Urban | ₹1 | ₹100 | 5% |
2. Demand Draft Issue
Existing charges
| Up to ₹10000 | ₹50 |
| Above ₹10,000 to ₹1,00,000 | ₹4 per thousand or part thereof, Minimum ₹50 |
| Above ₹1,00,000 | ₹5 per thousand or part thereof, Minimum ₹600, Maximum ₹15,000 |
| Against tender of Cash (Below ₹50,000) | @50% of over and above normal charges (as mentioned above) |
Revised charges
0.40% of the DD amount, Minimum ₹50, Maximum ₹15,000.
Against tender of cash (Below ₹50,000) @50% of over and above normal charges (as mentioned above).
3. Issuance of Duplicate DD
Existing charges
| Issuance of Duplicate DD | ₹150 per instrument |
| Revalidation of DD | |
| Cancellation of DD | |
| Against tender of Cash (Below ₹50,000) for any mode of Remittance | ₹250 per instrument |
Revised charges
| Issuance of Duplicate DD | ₹200 per instrument |
| Revalidation of DD | ₹200 per instrument |
| Cancellation of DD | ₹200 per instrument |
| Against tender of Cash (Below ₹50000/-) for any mode of Remittance | ₹250 per instrument |
4. Cheque Returning Charges
Revised
Inward Returning Charges (Savings account): ₹300 per instrument due to insufficient balance
Current Account/ CC/ OD:
- ₹300 per instrument for first 3 cheque returns due to insufficient balance in a financial year
- ₹1000 per instrument for 4th cheque return due to insufficient balance onwards in a financial year
- For reasons other than insufficient, balance is ₹100 per instrument
- No charge in case of technical fault/failure, applicable for all accounts
- Interest at applicable rate for number of days Bank remained out of funds (i.e. actual interest @ clean OD is to be charged extra)
Outward Returning Charges (Including ECS)/ Bill Returning Charges through clearing house
Amount of cheque Charges
Upto ₹1 lakh: ₹150 per instrument
₹1 Lakh to 10 Lakh: ₹250 per instrument
₹10 lac: ₹500 per instrument Outstation Returning Charges (Inward/Outward) Amount of cheque Charges
Up to ₹1 lakh: ₹150 per instrument+out of pocket expenses.
₹1 lakh to ₹10 Lakh: ₹250 per instrument +out of pocket expenses
₹10 lakh: ₹500 per instrument +out of pocket expenses.
Revised
Outward Returning Charges: ₹200 per instrument irrespective of amount Outstation Returning Charges (Inward/Outward).
Amount of cheque Charges: ₹200 per instrument irrespective of amount + out of pocket expenses.
5. Locker rent charges
Existing locker rent charges
| Locker Types | Rural/Semi Urban | Urban/ Metro |
| Small | ₹1250 | ₹2000 |
| Medium | ₹2500 | ₹3500 |
| Large | ₹3000 | ₹5500 |
| Very Large | ₹6000 | ₹8000 |
| Extra Large | ₹10,000 | ₹10,000 |
Revised locker rent charges
| Locker Type | Rural | Semi Urban | Urban/Metro |
| Small | ₹1000 | ₹1250 | ₹2000 |
| Medium | ₹2200 | ₹2500 | ₹3500 |
| Large | ₹2500 | ₹3000 | ₹5500 |
| Very Large | ₹6000 | ₹6000 | ₹8000 |
| Extra Large | ₹10000 | ₹10000 | ₹10000 |
