March 27, 2026

Punjab National Bank (PNB) Savings Account - Interest Rates & Minimum Balance

Every person works hard to earn money, and a prudent person would want to save a significant part of it after meeting expenses. That's when they feel the need for a savings account.
They may choose the Punjab national bank savings account.
So what is the PNB savings account interest rate, and how much is the minimum balance in the PNB savings account?
The customers' investment in the savings accounts at PNB to earn a return, according to the PNB savings account interest rate, may be as low as 2.70% or as high as 2.90% per annum, depending on the balance amount in the savings account.
The requirement for minimum balance in a PNB savings account also varies from Rs.1,000 to Rs.2,000, depending on the PNB savings account type.
While it is more beneficial to deposit money in a Fixed or Recurring deposit, the customer prefers holding the same in the Punjab national bank savings account. Because of its liquidity feature, individuals can deposit or withdraw from their Punjab national bank savings account whenever they need funds.

Features of the Punjab National Bank Savings Account

There are no limits on the number of withdrawals from or deposits to the PNB savings account. Thus it is advisable to maintain funds in the Punjab national bank savings account for expenses and emergencies.
When the need arises, customers only need to use UPI, credit or debit cards to pay their bills. The following are the essential features of the Punjab national bank savings account:

Minimum Balance in PNB Savings Account

The customer must maintain a minimum balance in the PNB savings account, which differs as per the customer's location. The minimum balance for people living in rural areas is INR 1000, and for people living in semi-urban, urban areas and metro cities, it is INR 2000.

PNB Savings Account Interest Rate

The PNB savings account interest rate may be between 2.7%- 2.90% depending on the savings fund account balance. Check the table below for clarity on the subject.
Quarterly Average Balance (QAB)PNB savings account interest rate
Punjab national bank savings account balanceBelow INR 10L2.70% p.a.
Punjab national bank savings account balanceAbove INR 10L but less than INR 50L2.75%
Punjab national bank savings account balance50L and above2.90%

Initial Deposit

The initial deposit to open a Punjab national bank savings account varies as per the location of the PNB branch. The customer needs an initial deposit of INR 500 only to open a Punjab national bank savings account in a rural area. However, if the customer is opening a PNB savings account in an urban, semi-urban area or metro city in India, they will need an initial deposit of INR 1000.

Other Features

  • PNB bank provides internet and mobile banking services to PNB savings account holders.
  • The bank issues a Platinum debit card to the Punjab national bank savings account holders.

Punjab National Bank Savings Account - Types

Saving Deposit (General) Account

The customer can open a general Punjab national bank savings account by remitting INR 500 as an initial deposit. The deposit to the PNB savings account is DICGC insured, and the customers receive free internet banking, 20 cheque leaves half yearly and an ATM or Debit card.

Benefits of the Punjab National Bank Savings Account

  • Punjab national bank savings account caters to all customer categories by providing a suitable savings scheme. Some PNB savings account holders like pensioners, Ex-servicemen, women, and children receive unique benefits.
  • Manageability and accessibility of the Punjab national bank savings account are easy for holders because the bank offers them core banking solutions.
  • Remittance is faster at PNB with NEFT/RTGS for Punjab national bank savings account holders.
  • PNB customises their retail banking services to persons with a PNB savings account.

Punjab National Bank Savings Premium Account

The PNB bank offers a premium savings account to its customers provided they fulfil the following conditions:
  • The customer should maintain a QAB of INR 50000 for a premium Punjab national bank savings account.
  • The PNB savings account interest rate for a premium account is 2.9%
  • The rules concerning the premium Punjab national bank savings account are the same as that of a regular savings account, as mentioned above.

Benefits of a Premium Punjab National Bank Savings Account

  • PNB savings account interest rate to the customer of a premium savings account is higher by up to 4% on their daily savings account balance.
  • PNB offers accidental insurance of INR 2L to the premium PNB savings account along with the platinum debit card.
  • The PNB offer 40 cheque leaves free of charge to all customers with a Punjab national bank savings account. But the premium customer receives 20-extra cheque leaves, or 5 additional ones each quarter.
  • Each quarter, the premium customer of the PNB savings account will receive a waiver of 50% (up to INR 1.5L) on Demand Draft charges.
  • The premium customer's small locker rent will be lesser by 50% in the year the customer opts for the facility.
  • PNB does not charge the customers of their premium PNB savings account internet banking, mobile banking, ATM or Debit Card issuance, RTGS/NEFT charges.
  • PNB offers free premium mobile banking facilities such as a Demat account, nomination, NEFT/ RTGS, and SMS alerts.

Family Protection Account

The Punjab national bank savings account of this kind offers an insurance policy to the account holder. The account holder receives the Family Income Protector Plus term plan that will come with the return of the premium offer.

PNB Junior SF Account

The Punjab national bank savings account of this kind is open to children above 10 years and can independently manage and operate their accounts. The minimum balance in a PNB savings account of this type is zero, and there is no requirement for a minimum initial deposit for such a PNB savings account either.

Basic Saving Bank Deposit Account (BSBDA)

The Punjab national bank savings account of this kind offers the customers 20 free cheque leaves every financial year. Although the customer can make as many deposits as possible, they are permitted only 4 withdrawals for each month. The PNB savings account with a zero balance provides a chequebook facility to their customers.

PNB Vidyarthi SF Account

Any student who studies in a recognised university or institution can choose to save in the Punjab national bank savings account of this kind. The PNB savings account is to meet the student's needs. Students who are under 21 can open and use the essential banking functions to help in bearing their educational expenses.
PNB offers the Punjab national bank savings account holders free banking services such as DDs, ATM cum Debit card, chequebook facility and cash withdrawals and deposits to banks and other non-PNB branches

PNB Prudent Sweep for Individuals

The customers of the Punjab national bank savings account of this type receive the auto Sweep-out facility if their balance is over INR 1L and a total of 100 cheque leaves every financial year. PNB reduces a 50% concession on the charges for maintaining a Demat account only in the financial year when the customer opts for the service.

PNB SF Prudent Sweep for Non-Individuals

The SF Prudent Sweep savings account is only for organisations, and individuals cannot hold their savings in such a savings account at PNB. The initial deposit is only INR 500, and the customer receives the auto sweep-out facility with a Punjab national bank savings account of this type.
Under this saving scheme, PNB does not impose charges for outstation cheques. Internet banking makes the PNB savings account of such a kind easier to manage.

PNB Rakshak Scheme

In recognition of their bravery and service to their country, PNB offers this savings bank account to Ex-servicemen and women. The Punjab national bank savings account is open to all defence personnel, especially to those who served in the Indian army, naval or air force, and to that defence personnel who worked in the CRSF, ITBP, as Indian coast guard, State & Metro Police, IB, CBI, RAW & Para-military personnel.
The customer can opt for the auto sweep-out facility available with the Punjab national bank savings account to convert it to a fixed deposit account.
The PNB savings account also provides insurance cover to link to their salary credit card, free NEFT/RTGS and classic or platinum debit or ATM card without AMC charges.
PNB allows an overdraft facility to the extent of customers' two months' salary to people who opt for a Punjab national bank savings account of this kind. It also offers locker facilities at concessional rates to the depositors of the PNB Rakshak Scheme.

PNB Shikshak Sweep Scheme

The Punjab national bank savings account of this kind is specifically for teachers of recognised schools and institutions. The savings account with an auto-sweep-in and sweep-out facility does not require a minimum balance in the PNB savings account. It doesn't have a minimum initial deposit requirement, either.
The PNB savings account offers free customised ATM or debit card (platinum) to its holders and home loans with reduced margin requirements. Chequebooks and NEFT/RTGS transactions are at zero charges too.

PNB Power Savings

The Punjab national bank savings account for women includes accidental insurance coverage. Internet banking and mobile banking transaction attract additional reward points under this savings scheme.

PNB Pension Savings Account

This Punjab national bank account is only for those who earn a pension. The minimum balance in this PNB savings account and charges for one DD for a sum of INR 25,000 and NEFT/RTGS transactions is zero.

New Salary Savings Account

The Punjab national bank account of this type is available to employees of
  • The Central or State Government
  • PSU/ Government or Semi-Government Corporations
  • Multinational and Reputed Companies
  • Reputed Educational Institutions
PNB offers four types of salary accounts:
  • Normal
  • Gold
  • Premium
  • Platinum
The salaried employees mentioned above can directly transfer their salary to any of the above accounts.
The benefits include zero minimum balance in a PNB savings account, free chequebooks, Rupay Platinum or classic debit card and NEFT/RTGS transactions. The other facilities include discounts on personal, home and car loans and locker rent.

Wrapping up

PNB has offered excellent banking services for the past 115 years. It is one of the largest banks in the country, comprising over 5400 branches with core banking solutions. The excellent Punjab national bank savings account and its varieties cater to the needs of all categories of people, which is the reason for its massive customer base.

FAQs

How to open a Punjab national bank savings account?

The customer can open a Punjab National bank savings account by visiting the nearest PNB branch and completing all the formalities. However, the online PNB savings account opening is more convenient. The customer sees the PNB portal, clicks on online service options, and chooses a savings account on the drop menu. The applicant then fills up the application form without the E-sign facility and submits it. The procedure is complete when the applicant submits the KYC documents at PNBs nearest branch.

Who is eligible to open the Punjab national bank savings account?

A child who is 10 years and above can open and operate PNB Junior SF Account. However, to open all other Punjab national bank savings accounts, the applicant needs to be at least 18 years old. The other requirement is for the applicant to be a resident of India.

What are the essential documents to open a Punjab national bank savings account?

The applicant must produce identification and address proof, passport-sized photographs, and the PNB savings account opening form to open any Punjab national bank savings account.

What are the overdraft limit and other specifications for pensioners with Punjab national bank savings accounts?

The overdraft limit doesn't exceed one month's net pension, and PNB renews it annually. All pensioners can apply for an overdraft facility other than ESI pensioners or those who have drawn a loan against their retirement benefits.

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