Punjab National Bank (PNB) has revised the charges that it imposes for a host of banking services offered by it. The new service charges will be in effect from January 15, 2022, across the country. PNB, the country’s second-largest bank following the State Bank of India (SBI), informed in a public notice.
The Revised Charges Are As Follows:
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Minimum Balance Requirement :
At present, the account holder has to maintain a Minimum Quarterly Average Balance (QAB) amount of Rs 5000 in the urban and metro cities, which has been revised to Rs 10,000 for metro cities and remained the same for the urban areas.
For rural set-up, the minimum maintenance amount is Rs 1,000, whereas, for Sebi-urban areas, it is Rs 2,000. Even after January 15, the minimum amount required to maintain the account will remain the same
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Charges To Be levied For Not Maintaining Minimum Balance In The Account:
However, a person would have to pay Rs 600 in urban and metro areas and Rs 400 in rural and semi-urban areas for Not Maintaining a Minimum Balance in the account. Presently, it is Rs 300 for urban and metro areas and Rs 200 for rural and semi-urban areas.
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Closure of Current Account:
If the current account is closed after 14 days, but within 12 months of opening, a penalty of ₹800 will be imposed, revised from the current Rs 600. However, for accounts closed after 12 months of opening, no charges will be levied.
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Locker Charges:
Other than extra-large lockers, the annual charges for maintaining bank lockers have been increased.
The new charges are as follows:
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Locker Visits:
The number of free locker visits has been changed to 12 per year from the current number of– 15 visits– in a year. Once the 12 free visit limit is exhausted, ₹100 will be levied per visit.
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Transaction Fee In Saving Bank Accounts:
Irrespective of base & non-base branches, In the current system, PNB allows five free transactions per month, following which it charges ₹25 per transaction as a service fee. The minimum five transaction limit has been revised to three and the per transaction service fee has been increased to Rs 50 (Except through alternate channels i.e., BNA, ATM and CDM), also it is not applicable for Senior Citizen accounts.
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Cash Handling Charges:
From the current upper limit of ₹2 lakh, the free deposit limit for each day has been lessened to ₹1 lakh.
Also, above ₹1 lakh, 10 paise per piece will be levied after January 15, 2021.