Do you have a Punjab National Bank account? Pay extra for these services starting January 15th
Do you have a Punjab National Bank account? Pay extra for these services starting January 15th

The Punjab National Bank (PNB) will raise its fees for a variety of financial services beginning January 15. After the State Bank of India (SBI), PNB, the country’s second-largest bank, recently announced these adjustments, which would take effect on the stated date.

The following banking services will be more expensive for Punjab National Bank account holders:

(1.) Non-maintenance of QAB: For a resident of a metro city, the current threshold for non-maintenance of quarterly average balance (QB) is 5000. When the modification goes into force, however, this threshold will be increased to $10,000.

(2.) Non-maintenance of minimum balance: In rural areas, the quarterly price for non-maintenance of a minimum balance has been increased from $200 to $400, and in urban and metro areas, from $300 to 600.

(3.) Locker fees: According to the bank’s website, locker fees in urban and metro areas have been increased by $500. Except for extra big lockers, these have been changed for all sizes.

(4.) Locker visits: The number of free locker trips has been reduced to 12 per year, after which a fee of $100 per visit will be charged. Currently, a total of 15 visits per year are permitted, after which each visit will be charged $100.

(5.) Present account closure: Instead of the current 600 penalty, accounts that are closed within two weeks after opening will be penalised with an 800 penalty. A fine will not be assessed on accounts that are closed after 12 months.

(6.) Savings account transaction fee: Punjab National Bank now allows five free transactions per month, after which a service fee of $25 is paid every transaction. After the adjustment, you will be allowed three free transactions each month, after which you will be charged a service fee of $50 per transaction.

(7.) Cash handling fees: The daily free deposit limit has been cut to 1 lakh from the present 2 lakh. Additionally, after the amendments take effect, a fee of 10 paise per piece would be levied for amounts above one lakh rupees.

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