PNB Savings Account

What is a PNB Savings Account

Punjab National Bank savings account supports daily banking needs for various customer groups. These cover salaried workers, senior citizens, young minors, and retired pensioners today. Along with usual savings benefits, the account comes with a debit card, internet banking, mobile banking, and nomination options.

PNB offers several savings account variants, such as Regular Savings, Salary Account, and Power Savings. Earlier, the required Average Monthly Balance (AMB) ranged from about ₹500 in rural areas to ₹2,000 in urban branches, but from 1 July 2025, penal charges for not maintaining the minimum balance have been waived.

Daily closing balance interest is calculated and credited periodically. PNB FD interest rates can offer higher returns depending on tenure and depositor type. Accounts with no customer transactions for 24 months may remain in an inactive status.

PNB Savings Account Interest Rates

The table below shows current savings account interest rates calculated on the daily closing balance under the Punjab National Bank's guidelines:

*PNB Savings account interest rates w.e.f. October 1st, 2025

Types of PNB Savings Account

Below is a clear overview of PNB Savings Account types provided by Punjab National Bank with main features and requirements.

1. Salary Accounts: 

   PNB Salary savings accounts are designed for salaried customers, including employees of central and state government, PSUs, and private organisations. These accounts often offer zero balance requirements, free cheque books, and easy salary credit facilities.

2. PNB Salary Saving Scheme for Central Government Employees: 

   A specialised salary account for Central Government staff, offering no minimum balance requirement and standard savings benefits.

3. PNB Smart Gig Saving Account Scheme:

    A savings account for gig workers and freelancers offering no minimum balance and internet access.

4. PNB Rakshak Plus: 

   This account supports salary and pension payments for serving and retired defence and police personnel. It provides zero balance savings, preferential services, and benefits designed for uniformed forces.

5. Youth Saving Account: 

   These savings accounts include Grow Saving Account for minors (can manage accounts from age 10) and Rise Saving Account for investors aged 18–28. 

6. PNB Women Power Saving Scheme: 

   A savings account tailored for women with useful concessions. It offers benefits such as reduced or no charges and tailored features for female customers; initial deposit and quarterly average balance (QAB) norms typically apply, depending on the branch location.

7. PNB Samman Saving Account: 

   A pensioner savings account primarily for senior citizens and retired employees. It normally has zero minimum balance requirements, provides free cheque books, free pension cheque handling, and allows overdrafts up to a fixed limit.

8. PNB Kisan Saving Scheme:

    The scheme is for any farmer aged 18 plus, offering Harit and Samriddhi accounts so agricultural customers can use savings options that work for them.

9. PNB Elite Saving Account: 

   This account is created for investors and high-net-worth customers. It offers premium banking services, dedicated support, and may require a higher QAB than normal savings accounts.

10. PNB Select Saving Account: 

    A savings account for customers who need standard banking with an average balance requirement that may remain above zero. It delivers regular banking features with moderate balance expectations.

11. PNB SF Prudent Sweep Deposit Scheme for Individuals: 

    A sweep account where funds above ₹50,000 are automatically placed into higher‑interest deposits in multiples of ₹5,000, ensuring better returns while maintaining liquidity.

12. PNB SF Prudent Sweep for the Accounts of Institutions:

     Similar to personal sweep accounts but created for institutional clients, with higher cut-off balances (e.g., ₹5 lakh to ₹10 lakh) and regular sweep processes.

13. PNB Secured Saving Scheme: 

    The account targets investors aged 18–50, usually requiring a quarterly average balance of ₹500 (Rural), ₹1,000 (Semi-Urban), or ₹2,000 (Urban/Metro). It also includes life insurance benefits along with premium refund options.

14. PNB Arogya Saving Scheme: 

    A savings account for those up to age 60, with QAB norms like the Secured Saving Scheme, depending on the branch location. It allows savings and provides access to basic banking facilities.

15. PNB UNNATI Saving Fund Account: 

    This account is available to resident investors, associations, trusts, clubs, societies, and HUFs. It helps manage basic savings needs through suitable balance requirements and essential banking facility services.

16. Basic Saving Bank Deposit Account (BSBDA): 

    A zero-balance savings account that can be opened by people, including minors aged 10 and above. Basic Savings Bank Deposit Account provides banking services with no minimum balance rule, making it easy for everyone.

Key Features of PNB Savings Account

Punjab National Bank brings different savings accounts with features that aim to offer ease of use, safety, and simple financial benefits. Here are the key features:

• Sweep‑in FD & Auto‑Sweep Feature: PNB Sweep in FD allows surplus funds over 50,000 to be automatically placed into fixed deposits in multiples of 5,000, resulting in higher interest on idle funds.
• Life & Overdraft Benefits: Some specialised accounts offer life insurance with return of premium, while pensioner accounts may provide overdraft facilities up to ₹1,00,000 (subject to conditions).
• Cheque & Pensioner Benefits: Pensioner accounts provide benefits like 50 free cheque leaves per year, free pension cheque collection, and zero QAB requirement.
• Specialised Accounts: Targeted accounts including Women Power, Kisan, Samman and Elite Savings Accounts give benefits such as lower fees, specialised services with overdraft facilities.

How to Open a PNB Savings Account

A PNB Savings Account can be opened online or offline using a simple process with basic identity checks.

Online Method

Customers may open an account online via the bank’s official website and complete the process digitally.

• Visit the PNB Portal: Open the official PNB savings account page.
• Pick Account Type: Click “Apply Now” for the chosen savings account.
• Enter Basic Details: Add your name, mobile number, and email address.
• Get TCRN: Send the form to get a Temporary Customer Reference Number TCRN.
• Complete Application: Sign in with the TCRN and submit all personal and account details.
• Eligibility Check: Available for single or joint applicants. Minors above 10 years can operate with guardian consent. Societies, trusts, institutions, and HUFs are also eligible.
• Documents & Video KYC: Provide ID, address, photographs, signature proof, and any special account papers, then complete Video KYC for verification.

Offline Method

You can open your savings account simply by visiting a PNB branch.

• Visit the Branch: Go to the nearest PNB branch today and collect the account opening form.
• Select Account: Pick the right savings account option.
• Fill Form: Write your personal and nominee details.
• Submit Documents: Provide ID and address proof, 2–3 photos, signature proof, and any extra documents for trusts, HUFs, or pension accounts.
• Sign & Submit: Sign the form and complete checks if required.
• Eligibility Check: Make sure you meet the bank rules for adults, minors, joint accounts, and others.
• Account Start: The bank checks papers and activates the account.

Savings Account for NRI 

Punjab National Bank offers savings account options for Non-Resident Indians (NRIs) through two primary account types: the Non-Resident External (NRE) Account and the Non-Resident Ordinary (NRO) Account.

• NRE Savings Account This NRE account is suited for NRIs who wish to deposit foreign earnings in India. The funds are fully repatriable, and the interest earned is exempt from Indian income tax.
• NRO Savings Account This account is designed to manage income sourced within India, such as rent, pension, or dividends. Funds in this account are subject to tax deductions at source as per applicable Indian tax laws.
• Common Features Both account types offer internet banking, mobile banking, and debit card access. Nomination facilities are also available, allowing account holders to designate a resident Indian as a nominee.
• Account Opening NRIs can initiate the PNB NRE account opening process online through PNB's official portal or by visiting a designated branch. Documents required include a valid passport, visa copy, and proof of overseas address.

Key Takeaways 

PNB savings accounts are for senior citizens, salaried workers, women, minors, and pensioners, making them the best savings account option for them. Interest is calculated on the daily closing balance starting at 2.50% p.a., and includes options like zero-balance. Customers seeking higher returns may also compare FD interest rates when considering fixed deposits alongside savings accounts.