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Steps to Open Punjab National Bank Savings Account

Home Savings Account – Interest Rates 2025, Features, Types, Fees & Charges Steps to Open Punjab National Bank Savings Account

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Updated: 15-11-2021 06:12:56 AM

Note: The information on this page may not be updated. Kindly refer to the bank website to check the latest information.

Punjab National Bank offers various options for people to open a savings account and save money for the future. The options offered by the bank come with convenient and comfortable banking facilities such as online banking, SMS alerts, e-Statement, ATM cum debit card, passbook, cheque book and even more.

Savings Account Options Offered by Punjab National Bank

Being one of the top financial and banking service providers in India, Punjab National Bank offers an array of savings accounts to its customers. These options are given in the following list:

Online Savings Account
Saving Deposit (General) Account
Premium Saving Account Product
SF Prudent Sweep Deposit Scheme
Family Protection Account
PNB Junior SF Account
PNB Rakshak Scheme
PNB Shikshak Scheme
PNB Vidyarthi SF Account
Offline Savings Account
PNB Power Savings
PNB Pension Savings Account
Scheme for OD to Pensioners Account
Basic Saving Bank Deposit Account (BSBDA)
SF Prudent Sweep
New Salary Saving Products
Steps to Open Punjab National Bank Savings Account
Points to consider before Opening a Savings Account in Punjab National Bank

Steps to Open Punjab National Bank Savings Account

Opening a savings account in Punjab National Bank is quite easy. There are two ways of doing so – Online (through official website) and Offline (by visiting the branch directly).

Steps to open Punjab National Bank savings account online
  • Visit the official website/portal of the bank and click on ‘savings accounts’ option from the online service’ option.
  • An application form will display on your screen, Fill in all your personal details such as name, address, date of birth, contact details and submit it.
  • After submission, you will get a Temporary Customer Reference Number or TCRN on your mobile number or email ID. Keep it safely for future references.
  • For given TCRN number, customer will fill the online form by furnishing relevant details of account opening form
  • After submission, applicant will visit Bank’s branch along with TCRN, photo, ID Proof and Address Proof in original and copies. The KYC documents will be verified by the branch.
Steps to open Punjab National Bank savings account offline
  • Visit the nearby branch of Punjab National Bank with all the mandatory documents to initiate the account opening process.
  • Fill in all the requested details correctly. Make sure that the details filled in the account opening form should match with the Know Your Customer (KYC) documents. After this, submit the form at the counter.
  • The bank will verify the details and documents provided. After approval, your savings account will be opened and available for banking and financial activities.
Eligibility Criteria for Opening a Punjab National Bank Savings Account
  • An applicant should be a resident of India.
  • The age of the applicant should be at least 18 years. In case of a minor, parent or local guardian can open and operate the account on the behalf of their child.
  • An individual who is applying for a savings account in Punjab National Bank should have valid address and identity proof issued and approved by the Government of India.
  • After the verification process, the applicant should have the minimum or initial deposit amount in hand, depending on the specific requirements of the account chosen by the applicant.
Documents Needed to Open Savings Account in Punjab National Bank
Proof of ID Aadhaar card, PAN card, voter ID, driving license, passport, etc.
Proof of Address Aadhaar card, utility bills (electricity and telephone bills), passport, driving license, voter ID, etc.
Form 16 This form will only be filled by those who do not have a PAN card
Photographs Recent passport size photographs

Points to consider before Opening a Savings Account in Punjab National Bank

  • Minimum Balance: Every applicant should check the minimum balance requirement of all savings accounts and compare which one suits their finances best.
  • Non-Maintenance Charges: Every bank charges a significant amount for not maintaining the minimum balance in the account. So, it is advisable to consider this aspect as well.
  • Rate of Interest: Not all savings accounts have a similar rate of interest. Savings accounts designed for a particular target customer base usually have a high rate of interest as compared to the basic or general savings account. Therefore, it is important to choose an account that provides a decent interest rate.
  • Transaction Limits: An applicant should check the per day limit of transactions and withdrawal (branches and ATMs) of the account. Every bank charges differently if the limit is exceeded.
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