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PARAMETERS |
FEATURES |
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Eligibility |
Current Account can be opened by Individuals (either singly or jointly), Associations, Trusts, Partnership Firms, Proprietorship Firms, Hindu Undivided Families (HUFs), Firms, Societies and Corporate Entities, on compliance of “Know Your Customer(KYC) Guidelines”, execution of Account Opening Form and completion of requisite formalities, viz., Balance Sheet, Article & Memorandum of Association, photographs, identity and address proof, etc.
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Purpose |
To cater to the diversified banking needs for any business activity. |
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Customer Due Diligence |
As laid down in general guidelines, which is in accordance to the Bank’s KYC Policy. |
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Variants |
SILVER |
GOLD |
DIAMOND |
PLATINUM |
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Minimum Quarterly Average Balance |
1,00,000 |
2,00,000 |
5,00,000 |
10,00,000 |
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Initial Deposit (R/SU/U/M) |
5,000 |
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Non Maintenance of QAB Charges (Subject to change from time to time) |
500 |
1000 |
2000 |
4000 |
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Charges for non maintenance of QAB for Silver* variant of PNB Smart Banking Current Accounts |
• For Rural & Semi – Urban Branches
QAB Below Rs. 1.00 lakh : Rs. 500
• For Urban & Metro Branches
QAB below Rs. 1.00 lakh but = Rs. 10,000: Rs. 500
QAB below Rs. 10,000 : Rs. 1000 |
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Minimum Balance for Sweep-in and Sweep-out facility |
Rs.5.00 Lakh |
Rs. 10.00 Lakh |
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Sweep-in and Sweep-out in multiples of |
50,000 |
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Tenor of Term Deposit (At applicable card rate for respective bucket) |
7 Days to 1 Year as per mandate of Customer
(Sweep out shall be 4 times in month (1st to 31st) as per mandate of Customer) |
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Free Cheque Leaves (per quarter) |
100 |
200 |
300 |
600 |
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RTGS/NEFT Charges |
Free |
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Concession in Cash Deposit Charges |
Upto Rs. 2 lakh per day
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Free;
Thereafter applicable charges |
Upto Rs. 5 lakh per day
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Free;
Thereafter applicable charges |
Upto Rs. 5 lakh per day
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Free;
Thereafter applicable charges |
Upto Rs. 10 lakh per day
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Free;
Thereafter applicable charges |
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Inter-sol transfer transaction charges |
Free |
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Concession in Cash withdrawal Charges |
Upto Rs.1 lakh per day
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Free;
Thereafter applicable charges |
Upto Rs.2 lakh per day
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Free;
Thereafter applicable charges |
Upto Rs.5 lakh per day
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Free;
Thereafter applicable charges |
Upto Rs.10 lakh per day
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Free;
Thereafter applicable charges |
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Instant credit of outstation cheques Maximum outstanding Amount at any point of time irrespective of the number of cheques - after ensuring six months of satisfactory operation in the account. |
15,000 |
20,000 |
50,000 |
1,00,000 |
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Free Collection of outstation Cheque per quarter maximum upto Rs.(Issued in favour of customer) |
0.50 lac
per quarter |
2.00 lac
per quarter |
5.00 lac
per quarter |
10.00 lac
per quarter |
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Annual Custody Charges for Demat Services/ NSDL (except CDSL) |
Waived |
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Issue of Free Demand Drafts per quarter |
5 nos
(Max. Amt. upto Rs.0.50 lakh) |
10 nos
(Max. Amt. upto Rs.2.00 lakh) |
15 nos
(Max. Amt. upto Rs.5.00 lakh) |
30 nos
(Max. Amt. upto Rs.10.00 lakh) |
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Stop Payment instruction charges |
Free |
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Account Statements |
Fortnightly Free |
Fortnightly Free |
Weekly Free |
Free |
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POS Machine- Installation Charges |
Applicable Charges |
50% concession on Applicable Charges |
Free |
Free |
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POS Machine- Transaction / Processing Charges |
Applicable Charges |
50% concession on Applicable Charges |
Free |
Free |
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Merchant Service Fee |
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Credit Card (Corporate/ Individuals , i.e, Proprietor, Partners, Promoters & Directors etc.)- Joining Fee/Renewal Fee/ Annual Fee on Primary & Add on Card |
Free |
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PNB Fee Portal & Payfee |
Free |
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Fund Collection Module |
Free |
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Door Step Banking Services |
Applicable charges |
Free |
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Door Step Banking Services: Agency Charges (The charges are finalized by Circle Offices) |
Applicable charges |
Deposit limit of Rs.2 lakh per day free (For more than Rs.2 lakh as per terms decided by CO) |
Deposit limit of Rs.5 lakh per day free (For more than Rs.5 lakh as per terms decided by CO) |
Deposit limit of Rs.10 lakh per day free (For more than Rs.10 lakh as per terms decided by CO) |
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Advance against clearing /Purchase of local cheque |
25000 |
500000 |
100000 |
200000 |
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Other Terms & Conditions |
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Customers will open Current Account (With or without Sweep-in and Sweep-out facility) under any variant except Non Resident Indians, Banks and financial Institutions and Illiterate Customers and the persons incapable of directly entering into a contract.
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Customers who do not opt to maintain prescribed QAB for availing freebies, may open General Current Account subject to QAB and QAB charges thereof.
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If the customer does not want to avail Sweep in and Sweep out facility, the branch will mark Auto Sweep as NO in option Flexi- Deposit Details at the time of opening of account.
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General Current Account holder may opt for PNB Smart Banking Current Account (With or Without Sweep – In and Sweep Out facility).
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The concessions/freebies under all the variants will be allowed only in the accounts in which prescribed QAB is maintained in the previous quarter. However, in new accounts opened during the quarter, concessions/freebies will be available till completion of quarter and after completion of quarter concessions/freebies will only be allowed if the customer has maintained prescribed average balance for the number of days i.e. date to opening of account to last day of quarter. Subsequently, concessions will be allowed on maintaining QAB in previous quarter.
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Rs.500/- (one time) will be charged for opting the lower variant. There is no charge for upgrading the variant. The change in QAB to lower/higher variant will be allowed only at the end of the quarter.
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Credit Card will be provided to the Corporate/ Individuals, i.e. Proprietor, Partners, Promoters & Directors etc. Credit Card Application (Corporate or Individual) will be obtained along with AOF for Current Account. However, the Credit Card will be issued after 6 months satisfactory conduct of account.
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The customer may opt period for any number of days (from 7 to 91 days). No interest will be paid if FD under sweep runs less than 7 days. FD will be swept in on LIFO (Last In First Out) basis.
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At the end of quarter, interest of FFD is credited in the respective operative current account. The total amount (Principal and interest) of FFD is credited on due date or on premature cancellation in the related current account. Further, the prescribed amount will be swept out into FFD as per available balance in the account of the customer at the end of day.
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