Punjab National Bank (PNB) provides a variety of savings account options designed to support the different financial objectives of its customers. Whether you are looking for a basic entry-level account, a high-benefit premium product, or specialized accounts for students and defense personnel, PNB offers solutions across both online and offline platforms. These accounts combine competitive interest rates with modern digital banking tools, ensuring a comprehensive banking experience for all demographics.
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Investment Plans
Generate wealthEarn 1 Cr# in maturity with Zero LTCG tax¶
Double tax savings^On premiums (under 80C) and on maturity (under
10(10D))
Below are the PNB savings account interest rates. The following rates are effective as of October 1, 2025:
Account Balance
Interest Rate (p.a.)
Up to ₹100 crore
2.50%
₹100 crore to ₹500 crore
2.70%
₹500 crore to ₹1000 crore
3.60%
₹1000 crore to ₹2000 crore
3.75%
More than ₹2000 crore
4.25%
What is a PNB Savings Account?
A PNB Savings Account is a deposit facility that allows individuals and entities to securely store their funds while earning interest on their daily outstanding balances. Managed by one of India's leading public sector banks, it serves as a primary tool for cash management, offering easy access to funds through various channels such as ATMs, mobile banking, and internet banking.
Financial Growth: The account acts as a growth vehicle by providing interest rates ranging from 2.50% to 4.25% per annum, depending on the total balance maintained.
Transactional Flexibility: It provides essential banking features like free cheque leaves, NEFT/RTGS fund transfers, and SMS alerts to keep track of every transaction.
Convenience and Accessibility: With a low initial deposit requirement starting at just Rs. 500 for general accounts, it remains accessible to a broad segment of the population.
Value-Added Services: Many PNB savings products come bundled with additional benefits such as free debit cards, insurance coverage, and concessions on locker rentals.
Liquidity: Customers can withdraw their money whenever needed, making it an ideal choice for emergency funds or day-to-day personal expenses.
Different Types of PNB Savings Accounts
Below are the details of various savings account offered by Punjab National Bank:
PNB Saving Deposit (General) Account
This is the foundational savings product from PNB, ideal for individuals seeking a simple yet effective banking experience.
Insurance: Platinum Debit Card comes with accidental insurance coverage of Rs. 2 lakhs.
Cheque Book: 40 free leaves per year, with an additional 20 leaves if QAB is maintained.
Concessions: 50% discount on small locker rent (first year) and 50% discount on Demand Draft charges up to Rs. 1.50 lakh per quarter.
Digital: Free RTGS/NEFT, Mobile Banking, and Internet Banking.
Eligibility: Individuals (single or joint), HUFs, Trusts, Associations, and Clubs.
PNB SF Prudent Sweep Deposit Scheme
This account maximizes your earnings by linking your savings balance to a Fixed Deposit through an automated mechanism.
Initial Deposit: Rs. 500
QAB Requirement: Rs. 5,000 (Rural/Semi-Urban) | Rs. 10,000 (Urban/Metro)
Sweep Mechanism: Balance above Rs. 1 lakh is automatically moved to an FD (multiples of Rs. 10,000) for 7 days to 1 year.
Auto-Sweep: Available
Key Features & Benefits:
Higher Returns: Earn FD rates on surplus funds without manual intervention.
Transactions: 100 free cheque leaves per financial year and up to 2 free monthly remittances (max Rs. 25,000 total).
Full Access: Continued access to Internet Banking, Mobile Banking, and ATM facilities.
Eligibility: Individuals (single/joint) and bank staff members.
PNB Family Protection Account
A unique hybrid product that bundles a savings account with a term assurance plan, providing financial security to the family.
Insurance Benefit: Nominee receives a monthly income (Rs. 10,000 or Rs. 25,000) in case of the insured's demise.
Survival Benefit: 110% of the total premium paid is returned upon maturity.
Debit Card: Platinum Debit Card (on opting for the insurance plan).
Key Features & Benefits:
Term options of 10 or 15 years.
No medical checkup required (only a health undertaking).
25% concession on small locker rent for the first year.
Eligibility: Individuals aged 25 to 60 years.
PNB Junior SF Account
Tailored specifically for minors to introduce them to the world of savings and financial management.
Initial Deposit/Minimum Balance: Zero (Zero Balance Account)
Interest Rate: 2.50% p.a.
Debit Card: RuPay Debit Card
Key Features & Benefits:
Student Perks: Free Demand Drafts for school or college fees.
Freebies: 20 cheque leaves per half-year and free NEFT up to Rs. 10,000 per day.
Transition: Automatically converts to a General SF account once the minor reaches 18.
Eligibility: Minors of any age through a guardian. Minors above 10 can operate the account independently with proof of age.
PNB Rakshak Scheme
A dedicated savings solution for the brave personnel of the Indian Armed Forces and Police departments.
Minimum Balance: Zero (Zero Balance Account)
Overdraft Facility: Available up to the sum of the last two months' net salary.
Auto-Sweep: Available (Threshold: balance above Rs. 10,000).
Key Features & Benefits:
Sweep-in/out facility in multiples of Rs. 1,000.
25% concession on first-year small locker charges.
Free Platinum/Classic Rakshak Debit Cards and unlimited digital transactions.
Eligibility: Personnel of the Army, Navy, Air Force, BSF, CRPF, Police, CBI, and pensioners drawing pension through PNB.
PNB Shikshak Scheme
Designed to reward the teaching community, this account offers financial flexibility and lower costs.
Minimum Balance: Zero (Zero Balance Account)
Overdraft Facility: Up to Rs. 50,000 or the last salary (whichever is lower).
Auto-Sweep: Available (Threshold: balance above Rs. 15,000).
Key Features & Benefits:
Free cheque books for routine requirements.
50% concession on small locker rent for the first year.
Zero charges for Demat account opening for the first year.
Eligibility: Permanent teachers of recognized schools, colleges, and educational institutions.
PNB Vidyarthi SF Account
A zero-balance account designed for students to manage their educational expenses without the burden of maintaining a balance.
Minimum Balance: Zero (Zero Balance Account)
Interest Rate: 2.70% p.a. (subject to balance tiers)
Overdraft Facility: Rs. 5,000 to Rs. 10,000
Key Features & Benefits:
40 free cheque leaves per year.
Free Demand Drafts for examination/fee payments.
No incidental or ledger folio charges.
Converts to General category upon the student reaching 21 years of age.
Eligibility: Students studying at recognized educational institutions.
Types of PNB Offline Savings Accounts
Below are the details of offline savings account offered by PNB:
PNB Power Savings Account
This account is exclusively designed to empower resident women by providing them with high transaction limits and low maintenance requirements.
Eligibility: Resident Individual Woman.
Minimum Balance (QAB): Rs. 500 for Rural areas; Rs. 1,000 for Semi-Urban, Urban, and Metro areas.
Initial Funding: Only Rs. 500.
Key Highlights: Includes a free RuPay Debit Card with a daily ATM withdrawal limit of Rs. 50,000.
Interest Rate: 2.50% p.a. for balances up to Rs. 100 crore.
PNB Pension Savings Account
A specialized solution for pensioners to manage their post-retirement funds with ease.
Eligibility: Any individual pensioner.
Balance Requirement: Zero balance savings account.
Transaction Limits: ATM withdrawal limit of Rs. 50,000 and a domestic shopping limit of Rs. 1,25,000.
Debit Card: Free RuPay Debit Card provided.
Standard Interest: 2.50% p.a. on balances up to Rs. 100 crore.
Scheme for OD to Pensioners
Beyond a standard savings account, PNB offers an Overdraft (OD) facility specifically for its pensioner customer base.
Eligibility: All pensioners except ESI pensioners or those already having a loan facility against their pension.
Overdraft Limit: Up to the extent of one month's net pension.
Renewal: The limit is renewed on a yearly basis.
Basic Saving Bank Deposit Account (BSBDA)
This is a primary account intended for any resident of India, focusing on providing essential banking services without requiring a minimum balance.
Eligibility: Any resident of India.
Withdrawal Rules: Allows up to 4 free ATM withdrawals per month.
Facilities: Comes with an ATM-cum-Debit Card.
Interest Rate: 2.50% p.a. for balances under Rs. 100 crore.
PNB SF Prudent Sweep for Institutions
This account is geared toward institutional entities, allowing them to earn better returns through an automatic sweep facility.
Eligibility: Any institution permitted by the bank.
Initial Deposit: Rs. 500.
QAB: Rs. 5,000 (Rural/Semi-Urban) or Rs. 10,000 (Urban/Metro).
Special Feature: Features an Auto Sweep facility that moves surplus funds to generate higher interest.
New Salary Saving Products
PNB offers four tiers of salary accounts—Normal, Gold, Premium, and Platinum—based on the employee's monthly gross income.
Eligibility: Regular employees of the Central/State government, PSUs, MNCs, and reputed educational or corporate institutions.
Balance Requirement: Zero balance savings account.
Standard Benefits: Includes free Internet Banking, SMS alerts, and a RuPay Debit Card.
Salary Tiers:
Normal: Gross salary between Rs. 8,001 and Rs. 25,000.
Gold: Gross salary between Rs. 25,001 and Rs. 75,000.
Premium: Gross salary between Rs. 75,001 and Rs. 1,50,000.
Platinum: For gross salaries exceeding Rs. 1,50,000.
Account Opening Process
How to Open Online
Visit the official PNB website and select "Online Services" > "Savings Account."
Fill in your name, mobile number, and email to generate a Temporary Customer Reference Number (TCRN).
Complete the full application form for account opening using your TCRN.
Visit your selected branch with the TCRN and original KYC documents for final verification.
How to Open Offline
Step 1: Head to your nearest Punjab National Bank branch.
Step 2: Complete the savings account application form.
Step 3: Share your essential personal details with the bank officer.
Step 4: Choose the specific savings account type that suits your needs.
Step 5: Submit self-attested photocopies of your Aadhaar and PAN cards.
Step 6: Hand over the filled form, along with a cash deposit slip or demand draft and additional identity proofs.
Step 7: The bank verifies all submitted information, then activates your account.
PNB provides a welcome kit containing key documents for seamless account operations.
Required Documents
Proof of Identity: Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License.
Proof of Address: Electricity/Telephone bill, Ration Card, Bank Statement, or a letter from your employer.
FAQs
What is the minimum balance required to open a General Savings Account?
The initial deposit required is Rs. 500. After opening, you must maintain a Quarterly Average Balance (QAB) of Rs. 1,000 for rural branches or Rs. 2,000 for semi-urban, urban, and metro branches.
Can a minor open a savings account with PNB?
Yes, minors of any age can open a PNB Junior SF Account through a natural or legal guardian. Minors above the age of 10 years are permitted to open and operate the account independently, provided they have satisfactory proof of age.
Does PNB offer a zero-balance account for students?
Yes, the PNB Vidyarthi SF Account is a zero-balance account specifically for students at recognized institutions. It includes benefits like 40 free cheque leaves per year and free demand drafts for educational fees.
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
Past 10 Years' annualised returns as on 01-12-2025
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
Tax benefit is subject to changes in tax laws. Standard T&C Apply
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years’ fund performance data (Fund Data Source: Value Research).
Generate wealth Earn 1 Cr# in maturity with Zero LTCG tax¶
Double tax savings^ On premiums (under 80C) and on maturity (under 10(10D))
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