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PNB To Slash Savings Account Interest Rates On Next Week: Details Inside
On December 1, 2021, Punjab National Bank, a well-known and major public sector bank, is all set to slash its interest rates on domestic and NRI savings accounts. Earlier, the bank was offering a 2.90 percent interest rate on all existing and new Savings Fund Accounts. However, from next week, the bank would slash 10 basis points from Saving Fund Account Balances of less than Rs. 10 lakh and 5 basis points from Saving Fund Account Balances of Rs. 10 lakh and above.
Punjab National Bank Savings Accounts
Punjab National Bank offers the following Saving Deposit (General) Accounts to serve all sorts of customers and their basic personal financial needs.
- PNB Unnati Saving Fund Account
- PNB Saving Account Product For Premium Customers
- PNB Saving Fund Prudent Sweep Deposit Scheme For Individuals
- PNB Saving Fund Prudent Sweep For The Accounts of Institutions
- PNB Junior Saving Fund Account
- Basic Saving Bank Deposit Account (BSBDA)
- PNB Rakshak Scheme
- Scheme For Providing Overdraft Facility To Pensioners
- PNB Power Savings
- PNB Samman Savings Account
- PNB MySalary Account
- Premium Saving Account PNB Best Customer
- PNB Pratham Saving Account
- PNB 'Select' Saving Account
PNB Savings Account Interest Rates
On Domestic & NRI Saving Accounts, PNB would provide the following interest rates from 1st December 2021.
| Deposit Balance | Rate Of Interest |
|---|---|
| Saving Fund Account Balance below Rs. 10 Lakh | 2.80% p.a. |
| Saving Fund Account Balance of Rs. 10 Lakh & above | 2.85% p.a. |
| Source: Bank Website |
PNB Minimum Quarterly Average Balance Requirement
For a savings account, PNB currently allows the following minimum Quarterly Average Balance (QAB).
| Area | Min. QAB | Initial Deposit |
|---|---|---|
| Rural | Rs. 500/- | Rs. 500/- |
| Semi-Urban | Rs. 1000/- | Rs. 1000/- |
| Urban & Metro | Rs. 2000/- | Rs. 2000/- |
| Source: Bank Website |
PNB Savings Account Maintenance Charges
For failing to maintain a minimum balance in a savings account, PNB is currently levying the following charges.
| Charges per Qtr. for Not Maintaining Minimum Balance | |||
|---|---|---|---|
| Shortfall In Quarterly Average Balance (QAB) | Rural | Semi-Urban | Urban/ Metro |
| Up To 50% | Rs. 50/- | Rs. 100/- | Rs. 150/- |
| Above 50% | Rs. 100/- | Rs. 150/- | Rs. 250/- |
| Source: Bank Website |
