PNB Women Power Savings Account

Key Eligibility and Account Setup for PNB Women Power Savings Account

The account is designed for accessibility, ensuring that women from all walks of life can begin their savings journey with ease.

• Eligibility: Open to all resident individual women. Joint accounts are permitted, provided the first applicant is a woman.
• Flexible Balances: The Minimum Quarterly Average Balance (QAB) is tailored to your location:
• Rural: Rs. 500
• Semi-Urban: Rs. 1,000
• Urban/Metro: Rs. 2,000
• Scheme Codes: Depending on your preference for liquidity and interest, you can choose between SBPWR (without sweep facility) or SBPWS (with sweep facility) in your savings account.

Banking Benefits and Digital Convenience for PNB Women Power Savings Account

This account removes the friction of daily banking by offering a suite of free and discounted services:

• Zero-Fee Transactions: Enjoy free NEFT and RTGS transfers (for non-business purposes), free cash deposits, and free SMS alerts.
• Cheque Facilities: Receive 50 free cheque leaves per year, giving you plenty of resources for offline payments.
• Digital Freedom: Access 24/7 Retail Internet Banking and mobile banking without any additional service charges.
• Demand Drafts: One free Demand Draft per month (up to Rs. 1,00,000) for your personal administrative needs.

Lifestyle and Protection Features for PNB Women Power Savings Account

The Women Power Savings Account goes beyond basic banking by offering security and lifestyle perks:

1. Insurance Cover

   To ensure your family’s security, the account provides a Personal Accidental Insurance (PAI) cover. If you maintain a quarterly average balance of Rs. 25,000 or more during the previous calendar quarter, you are eligible for a PAI of Rs. 3.00 Lakh.

2. Specialized Debit Cards

   Upon opening the account, you can choose between the Rupay Classic or Rupay Platinum Debit Cards with no issuance fees. These cards come with high daily limits:

   • ATM Withdrawals: Up to Rs. 1,00,000 per day (Platinum variant).
   • Shopping (POS): Up to Rs. 3 Lakhs per day (Platinum variant).

3. Exclusive Concessions

   • Locker Rent: Get a 50% concession on small locker rentals for the first year.
   • Investment Discounts: A 25% discount on demat account fees to encourage your participation in the stock market.

Financial Growth and Loan Facilities for PNB Women Power Savings Account

For women looking to build assets, this account acts as a gateway to easier credit:

• Retail Loans: Enjoy a 100% discount on documentation and processing charges for Housing, Car, and Personal Loans.
• Pre-approved Loans: Eligibility for pre-approved personal loans based on your Quarterly Average Balance and overall relationship value with the bank.
• Credit Against Savings: Avail of an Overdraft (e-OD) facility against your fixed deposits or get a Credit Card with no annual or joining fees when backed by an FD.

Conclusion

The PNB Women Power Savings Account is more than just a savings vehicle; it is a partner in your financial growth. By combining low entry barriers with high-value perks such as free insurance, loan waivers, and digital convenience, it provides women with the tools they need to manage their wealth confidently. Whether you are saving for your children's future or planning your next big investment, this account ensures that your money works as hard as you do.