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With Zero Balance Account PNB Staff Can Now Avail Overdraft Up To Rs 3 Lakh: Here’s How


The Punjab National Bank (PNB), the country's second-largest government bank, has introduced a special salary account named 'PNB MySalary Account' for the employees. Regular employees of the central/state government, PSU, Govt or Semi Govt Corporations, MNCs, Reputed Institutions, Reputed Corporate, and Reputed Educational Institutions can open a zero balance account. Employees on a contractual basis, on the other hand, will not be liable for this option. There are four different types of salary accounts: Silver, Gold, Premium, and Platinum. The following are the sections based on gross salary and type of account.

  • Silver: Minimum gross salary of Rs 10,000 up to Rs 25,000
  • Gold: Minimum gross salary of 25,001 and above up to Rs 75,000
  • Premium: Rs 75,001 & above up to Rs 1.5 lakhs
  • Platinum: Rs 1,50,001 and above
    Overdraft facility for employees

    Overdraft facility for employees

    The primary account holders of the Punjab National Bank Salary Account are eligible for an overdraft of up to two months' NET salary at a rate of RLLR (Repo Linked Lending Rate) + 3.70 percent per annum. The overdraft cap will be set manually, using an application form and a loan agreement, and will be determined according to eligibility. The same will need to be updated in six months, and a new Overdraft cap will be available only after the previous one has been updated. In the above circumstances, the employer must accept that the customer's salary account will not be modified or transferred to other banks within the term of the loan. The following is the maximum amount of OD:

    • SILVER: Rs 50,000
    • GOLD: Rs 1,50,000
    • PREMIUM: Rs 2,25,000
    • PLATINUM: Rs 3,00,000
    Sweep-In/Out facility

    Sweep-In/Out facility

    Sweep-In/Out will be available on all Savings Bank accounts opened or maintained under the scheme. It will instantly get started after the primary account holder authorises it and ensures that an initial threshold balance of Rs 20,000/- is maintained in the salary account, according to a minimum Sweep-in/out of Rs 1,000/- and in multiples of Rs 1,000/- thereafter. TDRs/STDRs generated using the Sweep facility will be valid for 7 to 365 days. For the amount Swept-In/Out in the account, the account holder will get the current Fixed Deposit card interest rates on single term deposit if the account has been made under FD for a minimum of 7 days. The frequency of sweep will be determined by the bank's current rules.

    Personal accidental insurance benefit

    Personal accidental insurance benefit

    Account holders will also receive a Personal Accidental Insurance Coverage of Rs 20 lakh for all variants. Account holders must be aware that if their salary is not credited for three months in a row during a calendar year, the account will be transferred to the Saving Fund General and all benefits will be revoked. You can also visit to know more about 'PNB MySALARY ACCOUNT' scheme.

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