Should you possess an account in PNB bank as well, this information will be beneficial to you. The massive public bank Punjab National Bank (PNB) has changed the fees associated with savings accounts, minimum balances, duplicate checks (including ECS), and locker fees. The effect of these changes can be seen in your pocket in the coming time.
Shortly, these adjustments will have an impact on your wallet.
The average amount of PNB accounts has undergone monthly and quarterly adjustments. This will depend on various factors. In rural areas, the balance is Rs 500 on a monthly and quarterly basis; in semi-urban areas, it is Rs 1000; and in metropolitan and metro areas, it is Rs 2000. If you can’t keep up the minimum balance, there could be a penalty of between Rs. 50 and Rs 250. The bank has also changed the DD charge. Earlier, the minimum charge was Rs 50 and Rs 4 per thousand for Rs 10,000 to Rs 1 lakh. Apart from this, the charge for DD of more than Rs 1 lakh was Rs 5 per thousand and the minimum charge was Rs 600. But now, under the new rules, you will have to pay 0.40 percent of the amount of DD you make as a DD charge. The minimum charge will be Rs 50 and the maximum will be Rs 15,000.
The charge will have a minimum of Rs 50 and a maximum of Rs. 15,000
The bank used to charge Rs 150 for duplicate DDs issued in the past. However, it has since been raised to Rs 200. In the same vein, the fee for cash deposits up to Rs 50,000 has been hiked from Rs 200 to Rs 250. When a check is returned for insufficient money, there is a 300 rupee fine. The first three checks returned in any given financial year will be subject to a cost of Rs 300 per check for the current account, cash loan, and OD. However, it will rise to Rs 1,000 for each check starting with the fourth one that is returned. If a check is returned for any reason other than inadequate money, there will be a fee of Rs 100. If a check is returned to the bank for any reason—technical or otherwise—there won’t be a fee.
When a check is returned for insufficient money,
there is a 300 rupee fine. For the current account, cash loan, and OD, a fee of Rs 300 will be charged per cheque for the return of the first three cheques in any financial year. But from the return of the fourth cheque, it will increase to Rs 1,000 per cheque. Rs 100 will be charged for the return of the cheque for any reason other than insufficient funds. No fee will be charged for the return of the cheque due to technical issues or any other reason from the bank.
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