Punjab National Bank (PNB) Current Account is ideal for businesses, professionals, and organisations that conduct frequent banking transactions. It offers unlimited deposits and withdrawals, chequebooks, overdraft facilities, and digital banking services. 

To open a PNB current account, customers must meet eligibility criteria and maintain a sufficient minimum balance. The account has many benefits, including fast fund transfers, free Internet banking, and a vast branch network. 

PNB Current Account 

PNB Current Account is a safe and reliable bank account available to commercial entities, professionals, and organisations that need to conduct frequent transactions. It differs from savings accounts in that it neither attracts interest nor offers benefits such as unlimited deposits and withdrawals, overdraft facilities, and digital banking services. 

PNB offers many current accounts for different purposes, including for startups, professionals, and large corporations. These accounts help businesses manage their finances effortlessly and feature chequebooks, NEFT/RTGS transfers, and ATM and debit cards for smooth company banking operations.

How to Open a Current Account in PNB?

To open a current account in Punjab National Bank, bank holders must physically visit the nearest PNB branch and then fill out the PNB current account opening form. The opening form is also available online from the bank’s official website. Here are the detailed steps to follow for downloading the PNB current account opening form via online mode:

• Go to the Punjab National Bank’s official website and visit the “Download Forms” section on the right side of the homepage.
• A new page will appear. Click on the option “Account opening form for Residents Indians (Single/Joint Accounts)” to download the opening form.
• Give a printout of the form and fill it out with the necessary details.
• Submit the duly filled application form with all KYC-related documents at the nearest branch of your bank.

Here are detailed steps to follow for PNB current account opening:

• Visit your nearest branch of Punjab National Bank and fill out the current account opening form with all relevant details.
• Keep KYC-related documents ready and submit the application form with these documents to the bank’s executive.

PNB Current Accounts Types 

The Punjab National Bank provides different types of current accounts to meet the diverse needs of professionals, businesses, and organisations. This account comprises several distinguishing features, such as over-drafting facilities, high transaction limits, and digital banking services. 

Please note that MAB stands for Monthly Average Balance and QAB stands for Quarterly Average Balance. 

PNB Current Account Opening Eligibility

The Punjab National Bank (PNB) current account is designed specifically for professionals, businesses, and organisations carrying out transactions frequently. A thorough understanding of this account's eligibility criteria is essential to carry out a hassle-free account opening. Let's look into the PNB current account eligibility criteria:

• Joint Accounts
• Individuals
• HUFs
• Sole Proprietary Concerns
• Partnership Firms
• Companies
• Society
• Association of Persons
• Trusts
• Body Co-operatives
• Charitable

PNB Current Account Opening Documents

Opening a PNB current account requires specific documents, considering the applicant's business type. Ensuring all documents are in place streamlines the account opening process. 

Let us explore the list of relevant documents you must carry while opening a PNB current account:

• Application and Specimen Signatures
• Passport sized photographs
• Identity Proof and Address Proof (following the KYC norms)
• Related documents relating to firms, Trust, HUF, etc. 
• Memorandum and articles of association, board resolution, and certificate of incorporation
• Other relevant documents following the guidelines of the RBI

PNB Current Account Minimum Balance

Punjab National Bank (PNB) offers a variety of current accounts tailored to meet the diverse needs of businesses and professionals. Below is a table summarizing the Minimum Average Balance (MAB) and Quarterly Average Balance (QAB) requirements for various PNB current account types:

PNB Current Account Benefits 

PNB offers its current account holders several features and benefits, making the banking process convenient and safe. Additionally, the bank provides cheque collection services, fast fund transfers, and facilities of standing instructions. Here is a detailed overview of the several benefits of the PNB current account:

Wide Network of ATMs for 24×7 Service

• PNB has an extensive network of 9,838 ATMs across India, ensuring easy access to cash withdrawals and banking services anytime, anywhere. 
• This broad coverage allows account holders to conduct transactions without visiting a bank branch, making banking hassle-free and time-saving.

Free Internet and Mobile Banking Facility

• PNB provides free internet and mobile banking services, allowing customers to manage their accounts online. 
• Users can check balances, transfer funds, pay bills, and monitor transactions from the comfort of their homes or offices. 
• This service enhances convenience and helps in efficient business management.

Instant and Fast Fund Transfers via NEFT/RTGS

• PNB enables instant money transfers through NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement). 
• These facilities ensure secure and quick fund remittances across banks, making it easier for businesses to handle payments and transactions efficiently.

Standing Instructions and Cheque Collection

• PNB allows account holders to set up standing instructions for automated bill payments, loan EMIs, and other regular transactions. 
• Additionally, the bank facilitates the collection and clearing of cheques, ensuring smooth financial operations without delays.

Free ATM cum Debit Card for Individuals and Sole Proprietors

• PNB offers a free ATM cum debit card for individuals and sole proprietors, enabling easy cash withdrawals and transactions at ATMs and POS terminals. 
• This benefit ensures seamless banking without additional card issuance charges.

Extensive Branch Network Across India

• With over 6,968 branches nationwide, PNB provides easy access to banking services, ensuring convenience for customers in urban and rural areas. 
• This extensive branch network supports smooth business transactions and better customer service.

PNB Current Account Interest Rates

The Punjab National Bank (PNB) does not apply interest rates to current accounts because they are designed primarily for professionals and businesses carrying out frequent transactions. 

Savings accounts earn interest on deposits, whereas current accounts only focus on offering a seamless banking service that includes over-drafting facilities, online banking, and unlimited transactions. Since current accounts help carry out business operations daily, no interest is earned regardless of the maintained balance. 

PNB Current Account Customer Care

The Punjab National Bank (PNB) provides consistent and dedicated customer care support to respective current account holders and addresses queries relating to account opening, transactions, and services. Customers can approach PNB by email, phone, or physically visiting the branch. 

The numbers available in customer care of PNB are the following:

• 1800 1800
• +91 120-249-0000
• 1800 2021

How to Close PNB Current Account?

Compared with other Indian banks, closing your PNB current account online is impossible. When you open an account, you must visit the home branch to close it. Thus, let us explore a detailed step-by-step process to follow for closing your PNB current account:

• Visit your nearest branch of Punjab National Bank and receive the PNB account closure form from any bank representative.
• Fill out the application form with all relevant details. However, if it is a joint account, ensure it includes both account holders’ names and signatures.
• Carry a single copy of your KYC and ID documents to close the PNB account.
• Keep all account-related products, including your passport, debit card, and chequebook.
• Withdraw all the funds present in your account and make sure to settle down all your outstanding dues.
• Submit the application form and other documents to the respective PNB home branch.

PNB Current Account Charges 

PNB Current Account Statement Password

PNB Current Account Statement Password is a security device that protects your e-statement from unauthorised access. When obtained through email, your account statement is in a password-protected PDF format. To open the file, you need to enter its password, which is usually a combination of your customer ID, account number, or delivery date (as set out by PNB). If you doubt your password format, visit PNB’s official website or consult with customer care. 

Final Word

Punjab National Bank offers a wide range of current accounts that cater to startups, professionals, and large businesses alike. These accounts offer flexible balance requirements, robust digital banking facilities, and tailored account features like overdraft access, free RTGS/NEFT, and business debit cards. Before opening an account, be sure to review the features, charges, and documentation requirements to make the best choice for your business growth.

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