Get 25% Off On Demat Account, Free NEFT & More With This Savings Account
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Investment
oi-Vipul Das
Punjab National Bank has announced a slew of benefits on its PNB Power Savings Account for women customers who want more than just interest rates on their savings accounts. These include free accidental death insurance coverage of up to Rs 5 lakhs, a 25% discount on Demat accounts, free NEFT, and much more. PNB has announced on its Twitter account saying “This Navratri, as you get ready to rejoice, don’t forget to save your power in PNB Power Savings.” A resident individual woman can open this savings account, and a joint account can also be opened under the scheme to avail sweep facility and attractive discounts or giveaways.
Key benefits of PNB Power Savings – PNB SF Fund Account For Women
- In rural areas, a minimum Quarterly Average Balance of Rs.500/- is required, whereas in other regions, Rs.1000/- is mandated.
- An initial deposit of Rs 500 is required in rural areas, Rs 1000 in semi-urban areas, and Rs 2000 in urban or metro areas.
- Non-compliance with the quarterly average balance will result in applicable charges.
- Cheque leaves are free with a limit of 50 per year.
- Free NEFT services
- Demand drafts are issued with one free draft each month up to Rs.10,000/-.
- For the first year only, there is a 25% discount on locker rental.
- There are no documentation charges for housing loans, vehicle loans (two-wheelers/cars), or personal loans.
- 25% rebate on opening a demat account.
- Issuance of free Platinum Debit Card
- A daily cash withdrawal of Rs 50,000 from a domestic ATM is allowed.
- A daily domestic shopping threshold of Rs 1.25 lac is set at the point of sale.
- Accidental death insurance of up to Rs 5 lakhs is provided for free.
- No charges on SMS alert, signature attestation, and issuing duplicate pass book, interest certificate, balance certificate.
Reward point benefits for women
If you make a transaction using internet banking or mobile banking with a minimum Quarterly Average Balance of Rs 5000, you will be eligible for the additional rewards points stated below.
| Transaction | Reward Points For Women | Proposed Maximum Point For Women |
|---|---|---|
| First txn through IBS | 50 | One time only |
| NEFT | 5 per transaction (Max 20 per day) | 100 points per month |
| RTGS | 5 per transaction (Max 20 per day) | 100 points per month |
| IMPS | 5 per transaction (Max 20 per day) | 100 points per month |
| Bill payment | 5 per transaction (Max 20 per day) | 100 points per month |
| Govt payments | 20 per transaction | For all transactions |
| IRCTC | 10 per transaction | 50 points per month |
| Credit card payment | 10 per transaction | 50 points per month |
| Opening online FD/RD | 50 | For all transactions |
| Regd for Statement through mail | 40 per account | One time |
| For transactions done through internet banking |
| Transaction | Reward Points For Women | Maximum Points |
|---|---|---|
| First txn through IBS | 50 | One time only |
| NEFT | 5 per transaction (Max 20 per day) | 100 points per month |
| RTGS | 5 per transaction (Max 20 per day) | 100 points per month |
| IMPS | 5 per transaction (Max 20 per day) | 100 points per month |
| Bill payment | 5 per transaction (Max 20 per day) | 100 points per month |
| For transactions done through mobile banking. Source: Bank Website |
PNB Savings Account Interest Rates
Punjab National Bank (PNB) is offering a 2.90 percent p.a. interest rate on domestic and NRI savings accounts, which is applicable to all current and new savings accounts. From September 1, 2021, the latest interest rate is in effect. This interest rate is applicable to savings account balances of less than Rs. 100 crore and also more than Rs. 100 crore.
| Domestic & NRI Saving Account Interest Rates : (W.E.F. 1st September 2021) | Rate Of Interest |
|---|---|
| Applicable to all the (existing as well as new) Savings Fund Accounts | 2.90% p.a. |
| Source: Bank Website |
This Navratri, as you get ready to rejoice, don’t forget to save your power in PNB Power Savings.
To know more, visit:https://t.co/pGeJCosWZa
#PNBPowerSavings #FightTheEvils #Navratri #DurgaPuja #FestiveSeasonAtPNB pic.twitter.com/77lWVknag1— Punjab National Bank (@pnbindia) October 12, 2021
Story first published: Wednesday, October 20, 2021, 18:25 [IST]
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