Starting October 1, 2024, Punjab National Bank (PNB) will implement new service charges for savings accounts, demand drafts, cheque returns, and locker rents.
Key Updates:
1. Minimum Average Balance (MAB):
- Rural: ₹500
- Semi-Urban: ₹1,000
- Urban & Metro: ₹2,000
- Charges for shortfalls range from ₹50 to ₹250, depending on the location and percentage of the shortfall.
2. Demand Draft (DD) Charges:
- 0.40% of the DD amount (minimum ₹50, maximum ₹15,000).
- For DDs issued against cash (up to ₹50,000): 50% above standard charges.
- Duplicate DD, revalidation, or cancellation: ₹200 per instrument.
3. Cheque Return Charges:
- Savings Account: ₹300 per instrument.
- Current Account/CC/OD:
- ₹300 per instrument for the first three returns.
- ₹1,000 per instrument from the fourth return onwards.
- ₹100 for reasons other than insufficient balance.
4. Locker Rent Charges:
- Small Lockers: ₹1,000 to ₹2,000, depending on the location.
- Medium Lockers: ₹2,200 to ₹3,500.
- Large Lockers: ₹2,500 to ₹5,500.
- Very Large Lockers: ₹6,000 to ₹8,000.
- Extra Large Lockers: ₹10,000 across all locations.
These changes aim to streamline PNB’s service offerings while adjusting to market conditions.