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PARAMETERS |
FEATURES |
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Eligibility |
Account may be opened by an Individual singly or jointly, minors of the age of 10 years and above, minor under natural/ legal guardianship. An illiterate or a visually impaired person is also eligible to open account under the scheme with usual safeguards. |
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Minimum Average Balance Requirement/ Initial Deposit |
Nil |
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KYC Compliance |
In accordance with the instructions on KYC/ AML guidelines issued and amended by RBI and Bank from time to time. |
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Nomination Facility |
Available |
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Free Banking Facilities |
a) Cheque book with minimum 25 cheque leaves per year.
b) Internet and Mobile Banking facility
c) Passbook or monthly statement of account in lieu of passbook, either in print or by email
(issuance of a continuation passbook, on exhaustion of the pages in the previous passbook, shall not attract any charge)
d) ATM Card or ATM-cum-Debit Card. Further, no charges shall be levied towards annual fee, either at the time of issuance or renewal.
e) Minimum of six free withdrawals in a month (including ATM transactions done either at the bank’s own ATM or another bank’s ATM). Digital payment transactions excluding ATM transactions, i.e., Point of Sale transfers, NEFT, RTGS, UPI, IMPS, etc., shall not be counted as withdrawals for this purpose. The charges on digital payment transactions shall be in accordance with guidelines issued by Department of Payment and Settlement Systems, RBI/ NPCI/ GoI, as applicable.
f) No limit on number and value of deposits that can be made in a month.
g) Deposit of cash at Bank Branch as well as ATMs/ CDMs/ BNAs
h) Receipt of money through any electronic channel or deposit/ collection of cheques.
Note:
In the case of both new/ existing BSBD accounts, branch shall extend the free facilities at clause (a) to (d) upon receipt of a request from the customer.
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Other Terms & Conditions |
a) A customer may convert their existing savings bank account to a BSBD account. The Bank shall convert the existing savings bank account to BSBD account within seven days of receipt of request in writing from the customer for such conversion.
b) The holder of a BSBD account shall not be eligible to open another BSBD account in the same bank or any other bank. Accordingly, before opening a new BSBD account or converting an existing savings bank account to a BSBD account, the bank shall obtain a declaration from the customer that he/ she does not have a BSBD account in any bank.
c) On the customer’s request, existing ‘no-frill’ accounts may be converted into Basic Savings Bank Deposit Accounts (PNB Zero Balance Accounts), subject to completion of KYC norms.
d) The existing BSBD account holders at branches can use BC outlet facility by submitting biometric details in their accounts. To enable this facility, the customers would be required to fill an application as prescribed and submit the same at branch. While opening of new BSBD account, biometric details of all customers must be captured.
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