Punjab National Bank: There is important news for millions of customers of PNB (Punjab National Bank), the second largest government bank in the country. That is, Punjab National Bank has made some changes in its rules, due to which the burden on your pocket will increase.
This new rule of the bank will come into effect from October 1, 2024. This change in the rules is related to savings accounts. After the change in the rules, the bank will also change some charges. These include minimum balance in savings account, locker rent, check withdrawal charges etc. Let us know which rules Punjab National Bank is going to change from October 1.
Change in service charge of savings accounts
According to a report by the English website Economic Times, Punjab National Bank has changed the charges levied on essential services related to savings accounts. After this change, it is very important to maintain minimum balance in the savings account.
Apart from this, there have been changes in the charges levied on making and issuing demand draft, charges levied on cheque withdrawal, return cost and locker rent charge. The special thing is that if a customer does not have minimum balance in his account, then as per the new rule, a charge will be levied on him by the bank that month. Earlier, the bank used to charge a fee for three months if the average minimum balance in the accounts was less, which has now been changed to one month.
It is necessary to keep a minimum balance of Rs 500 in rural areas
The report says that if a customer lives in rural areas and has an account in a rural branch of Punjab National Bank, then it is very important for him to keep a minimum balance of Rs 500 in his account. Customers of semi-urban branches are required to keep a minimum balance of Rs 1000, and customers opening accounts in urban and metropolitan branches are required to keep a minimum balance of Rs 2000 in their accounts. Charges will be levied if minimum balance is not maintained.
The report also states that customers will have to pay a fee if minimum balance is not maintained in their accounts. In rural area branches, if the minimum balance in a customer’s account is up to 50%, he will have to pay Rs 50 every month. Customers of semi-urban branches will have to pay Rs 100 every month, and customers opening accounts in urban and metro branches will have to pay Rs 250 every month.
Charges will increase if minimum balance is less than 50%
The report states that if the minimum balance in a customer’s account falls below 50%, the charges will also increase in the same proportion. If the minimum balance in the account falls below 6%, the charge will go up to Rs 1 in rural areas and a maximum of Rs 80. In semi-urban areas, the charge will increase from Rs 1 to a maximum of Rs 60, and if it falls further by 5% in urban and metro areas, the charge will increase by Rs 1 and a maximum of Rs 100.
Charges on demand draft
If a customer issues a demand draft, he is currently charged Rs 50 per Rs 10,000 and Rs 4 per Rs 1,000 for amounts ranging from Rs 10,000 to Rs 1,00,000. Demand drafts above Rs 1,00,000 attract a fee of Rs 5 per Rs 1,000, with a maximum fee of Rs 600 and a maximum of Rs 15,000.
After the change in rules, a fee of 0.40% will be charged on the total amount of the demand draft, with a minimum of Rs 50 and a maximum of Rs 15,000. Depositing an amount less than Rs 50,000 in cash will attract a fee of 50% more than the normal fee.