The charges for various services provided by Punjab National Bank (PNB) have been increased with effect from January 15, 2022. According to a notice on the PNB’s official website, the bank has also increased the charges for failing to maintain a minimum balance in accounts.
1) In the metro region, the non-maintenance of the quarterly average balance (QAB) threshold has been raised to Rs.10,000. Previously, the threshold limit was Rs.5,000.
2) The quarterly penalties for failing to maintain a minimum balance have been increased to Rs.400 in rural areas and 600 in urban and metro areas.
3) PNB has also increased its locker rental fees in rural, semi-urban (SU), urban, and metropolitan areas. In urban areas, locker fees have been increased by Rs.500.
4) The number of free visits per year is reduced to 12; thereafter, a fee of Rs.100 per visit will be charged. Previously, the number of locker visits per year was limited to 15 free visits per year.
5) PNB will allow three free transactions per month, after which Rs.50/- per transaction will be charged (except through alternate channels such as BNA, ATM, and CDM), which is not applicable to Senior Citizen accounts.
6) PNB has also raised transaction fees on savings accounts. Regardless of whether the branch is a base or non-base branch, the bank currently allows 5 free transactions per month after which a service charge of Rs.25/- per transaction is levied (except through alternate channels such as BNA, ATM, and CDM).
7) The bank’s cash deposit limit has also been reduced. The daily free deposit limit has been reduced from Rs.2 lakh to Rs.1 lakh, and deposits in excess of Rs.1 lakh will be charged at 10 paise per piece beginning January 15, 2022, and will apply to both base and non-base branches.