Are you interested in opening a zero-balance savings account with Punjab National Bank from the comfort of your home? Look no further! In this article, we will guide you through the entire process. While Punjab National Bank offers a total of six types of savings accounts, we highly recommend the PNB Unnati Savings Account for its numerous benefits. Let’s dive into the details!
PNB Unnati Savings Account: The Best Choice
One of the major advantages of the PNB Unnati Savings Account is its low average balance requirements. Depending on your area of residence, you only need to maintain ₹500 to ₹2000 per month. Compared to private banks like HDFC and Axis, which demand a higher monthly average balance, PNB’s requirements are quite reasonable. This makes the Unnati Savings Account an ideal choice for individuals in metro cities, urban areas, semi-urban areas, and rural areas.
Features and Benefits
With the PNB Unnati Savings Account, you’ll receive a Rupay Classic Debit Card, which functions as a Wi-Fi Debit Card. This means you can make hassle-free contactless payments without the need for a PIN. The maximum daily spending limit is ₹10,000, and as per RBI guidelines, the card cannot deduct more than ₹5,000 in a single transaction.
The Unnati Savings Account comes with no issuing fees for the debit card. However, an annual charge of ₹177 is applicable. Additionally, you can withdraw up to ₹25,000 per day from ATMs and up to ₹60,000 per day when making purchases at shops using the card.
Understanding the 40 Debit Entry Limit
While many believe that the Unnati Savings Account has a limitation of 40 debit entries within a span of six months, it’s important to note that certain transactions are not counted towards this limit. Online transactions such as UPI, NEFT/RTGS, and ATM withdrawals are not included in the 40-debit entry count. Furthermore, standing instruction payments, like EMIs, are also exempted. Hence, you can make unlimited online transactions and withdraw cash from ATMs without worrying about exceeding the limit.
Opening an Account with Punjab National Bank
To open a savings account with Punjab National Bank, you need to download the PNB ONE App from the Play Store. Once the app is installed, select the ‘Open account’ option and proceed accordingly. On the account selection page, choose the PNB Unnati Savings Account or any other account that suits your needs. The subsequent process remains the same for all account types.
Follow the prompts on the app to provide necessary details such as mobile number, email ID, PAN card, Aadhaar card, nominee details, and more. Choose your preferred branch and select additional services like internet banking, SMS alerts, and E-statements.
After completing these steps, you can preview your application, submit the necessary declarations, and proceed for video KYC. The entire process can be completed without visiting a branch.
Opening a zero-balance savings account with Punjab National Bank has never been easier. The PNB Unnati Savings Account offers a host of benefits, including low average balance requirements and a convenient Wi-Fi Debit Card. By following the simple steps outlined in this article, you can successfully open an account from the comfort of your own home. For more banking tips and information, be sure to check out the Banking Blog. Happy banking!