PNB revises 5 savings bank account service charges; check latest charges applicable from October 1, 2024

The Punjab National Bank (PNB) has announced changes to certain on-credit-related service costs applicable for savings accounts. The revision includes maintaining a minimum average balance, issuing demand drafts, duplicating DDs, cheques (including ECS), return costs, and locker rent charges. The new charges are applicable from October 1, 2024.

Here is a look at the revised charges from October 1.

1. Charges per quarter for not maintaining minimum average balance-SBA

Quarterly Average Balance Requirements

• Area QAB Rural Rs 500/-
• Semi Urban Rs 1000/-
• Urban & Metro Rs 2000/-

Minimum Monthly Average Balance (MAB)

• Rural Rs 500/-
• Semi Urban Rs 1000/-
• Urban & Metro Rs 2000/-

Charges Shortfall in QAB Rural

Shortfall in	Rural	Semi-	Urban/
QAB		Urban	Metro
Up to 50%	Rs50/-	Rs 100/-	Rs 150/-
Above 50%	Rs 100/-	Rs 150/-	Rs 250/-

Note that the bank is switching from maintenance of average balance from quarterly to monthly basis.

Charges to be directly proportional to the extent of shortfall

Area	Min. applicable Charges	Max. applicable Charges	%age of shortf all
Rural	Rs 1/-	Rs 30/-	6%
Semi Urban	Rs 1/-	Rs 60/-	6%
Urban &	Rs 1/-	Rs 100/-	5%

2. Issuance of Demand Draft

Existing charges

Up to Rs 10000	Rs 50/-
Above Rs 10,000/- to	Rs 4/- per thousand or part thereof, Minimum Rs 50/-
Rs 1,00,000/-
Above Rs 1,00,000/-	Rs 5/- per thousand or part thereof, Minimum ₹600/-, Maximum ₹15,000/-
Against tender of Cash (Below ₹50000/-)	@50% of over and above normal charges (as mentioned above)

Revised charges

• 0.40% of DD amount, Minimum Rs 50/, Maximum Rs 15,000/-
• Against tender of Cash (Below Rs 50000/-): @50% of over and above normal charges (as mentioned above)

3. Issuance of Duplicate DD

Existing charges

Issuance of Duplicate DD	Rs 150/- per
Revalidation of DD	instrument
Cancellation of DD
Against tender of Cash (Below ₹50000/-) for any mode of Remittance	Rs 250/- per instrument

Revised charges
Issuance of Duplicate DD	Rs 200/- per instrument
Revalidation of DD	Rs 200/- per instrument
Cancellation of DD	Rs 200/- per instrument
Against tender of Cash (Below Rs 50000/-) for any mode of Remittance: Rs 250/- per instrument.

4. Cheque Returning Charges

Revised

• Inward Returning Charges (Saving A/c): Rs 300/- per instrument due to insufficient balance
• Current Account/ CC/ OD:
• > Rs 300/- per instrument for first 3 cheque returns due to insufficient balance in a FY
• > Rs 1000/- per instrument for 4th cheque return due to insufficient balance onwards in a FY
• > For reasons other than insufficient
• balance: Rs 100/- per instrument
• > No charge in case of Technical Fault/ Failure Note 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 Rs 1 lac: Rs 150/- per instrument
• > Rs 1 Lac upto Rs 10 Lac: Rs ?250/- per instrument
• > 10 lac: Rs 500/- per instrument Outstation Returning Charges (Inward/Outward) Amount of cheque Charges
• Upto Rs 1 lac: Rs 150/- per instrument +out of pocket exp
• Rs 1 lac upto Rs 10 Lac: Rs 250/- per instrument +out of pocket exp
• > 10 lac: Rs 500/- per instrument +out of pocket exp.

Revised
Outward Returning Charges Rs 200/- per instrument irrespective of amount Outstation Returning Charges (Inward/Outward) Amount of cheque Charges: Rs 200/- per instrument irrespective of amount + out of pocket expenses.

5. Locker rent charges

Existing locker rent charges

Type of	Rural/Semi	Urban/ Metro
Locker	Urban
Small	1250/-	2000/-
Medium	2500/-	3500/-
Large	3000/-	5500/-
Very Large	6000/-	8000/-
Extra Large	10000/-	10000/-

Revised locker rent charges

Type of	Rural	Semi	Urban/
Locker		Urban	Metro
Small	1000/-	1250/-	2000/-
Medium	2200/-	2500/-	3500/-
Large	2500/-	3000/-	5500/-
Very Large	6000/-	6000/-	8000/-
Extra Large	10000/-	10000/-	10000/-