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Minimum balance limit raised;  Check details

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Minimum balance limit raised; Check details

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The Punjab National Bank (PNB) has announced an increase in general banking service charges (non-credit related service charges). The same will be applicable from January 15, 2022 and will include services such as quarterly average balance, no minimum balance maintenance, locker fees, among others.

Here is the list of all the loads to hike by PNB:

Minimum Balance Requirement

The minimum balance requirement and fees for not maintaining the minimum account balance in rural areas will be increased from Rs 5,000 to Rs 10,000, PNB said on its website.

Charges for not maintaining the minimum balance on the account

The quarterly charge for not maintaining the minimum balance will be increased to Rs 400 in rural areas and Rs 600 in urban and metropolitan areas.

Closing account

Current accounts closed within 14 days of account opening will be revised to Rs 800 instead of Rs 600. There will be no charge on accounts closed after 12 months.

Bank account fees

PNB will also increase its locker rental fees in rural, semi-urban (SU), urban and metropolitan areas. Locker fees will be increased in urban areas by Rs 500.

Savings account transaction fees

PNB will allow three free transactions each month, after which 50 rupees per transaction will be charged as a service fee.

Cash handling fees

The bank will lower its cash deposit limit on savings accounts and checking accounts. The daily free deposit limit will be reduced to Rs 1 lakh from the existing Rs 2 lakh, and above Rs 1 lakh 10 paisa per coin would be charged and applicable to both base and non-base branches, said PNB website.

(Edited by : Anshul)

First post: STI

Minimum balance limit raised; Check details

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