PNB Revises Service Charges: Updates To Savings Account, Minimum Balance, Locker Fees, And More | Personal Finance News


New Delhi: Punjab National Bank (PNB) has announced updates to various credit-related service charges for savings accounts which includes fees for maintaining a minimum average balance, issuing demand drafts, duplicating DDs, returning cheques (including ECS) and locker rent charges. These revised charges will come into effect from October 1, 2024.

What are the specifics of the updated charges?

1. Charges for Not Maintaining Minimum Average Balance:

PNB is changing the requirement for maintaining an average balance from a quarterly to a monthly basis. The required quarterly average balances are as follows:

Rural: Rs 500

Semi-Urban: Rs 1,000

Urban & Metro: Rs 2,000

The minimum monthly average balance requirements are as follows:

Rural: Rs 500

Semi-Urban: Rs 1,000

Urban & Metro: Rs 2,000


2. Issuance of Demand Drafts:

Current charges








Up to Rs 10000

 

Above Rs 10,000 to Rs 1,00,000

 

 




Rs 4 per thousand or part thereof, Minimum Rs 50

Above Rs 1,00,000

 

 




Rs 5 per thousand or part thereof, Minimum Rs 600, Maximum Rs 15,000

Against tender of Cash (Below Rs 50,000)

 

 




@50% of over and above normal charges (as mentioned above)

Revised Charges:

0.40 per cent of the demand draft amount, with a minimum fee of Rs 50 and a maximum fee of Rs 15,000.

For cash payments below Rs 50,000, the charge will be 50 per cent higher than the standard fees listed above.

3. Issuance of Duplicate Demand Drafts:

Current charges







Issuance of Duplicate DD

Rs 150 per instrument

Revalidation of DD

 

 

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 (Savings Account): Rs 300 per cheque due to insufficient balance.

Current Account/ CC/ OD:

– Rs 300 per cheque for the first 3 returns due to insufficient balance in a financial year.

– Rs 1,000 per cheque for the 4th return and any subsequent returns due to insufficient balance in a financial year.

– For reasons other than insufficient balance, the charge is Rs 100 per cheque.

– No fee for returns due to technical faults or failures, applicable to all accounts.

– Interest at the applicable rate will be charged for the number of days the account was overdrawn (i.e., additional interest on the clean OD).

Outward Returning Charges (Including ECS)/ Bill Returning Charges through Clearing House:

For Cheques:

Up to Rs 1 lakh: Rs 150 per instrument

Rs 1 lakh to Rs 10 lakh: Rs 250 per instrument

Rs 10 lakh: Rs 500 per instrument Outstation Returning Charges (Inward/Outward):

For Cheques:

Up to Rs 1 lakh: Rs 150 per instrument plus out-of-pocket expenses

Rs 1 lakh to Rs 10 lakh: Rs 250 per instrument plus out-of-pocket expenses

Rs 10 lakh: Rs 500 per instrumeny plus out-of-pocket expenses

Outward Returning Charges: Rs 200 per instrument, regardless of the amount.

Outstation Returning Charges (Inward/Outward): Rs 200 per instrument, regardless of the amount, plus out-of-pocket expenses.

5. Locker rent charges

Existing locker rent charges









Locker Types

 

Rural/Semi Urban

 

Urban/ Metro


 

Small

 

 
 

Medium

 

 
 

Large

 

Rs 3000  

Very Large

 

 
 

Extra Large

 

 
 

 

Revised locker rent charges









Locker Type

 

Rural

 

Semi Urban

 

Urban/Metro


 

Small

 

Rs 1000

 

 

Medium

Rs 2200

 

 
 

Large

 

Rs 2500

 

 
 

Very Large

 

 
 
 

Extra Large

 



 



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