Punjab National Bank (PNB) has announced changes in the on-credit-related service charge of the savings account. According to the information given by the bank, changes have been made in the minimum balance, demand draft issuance, check (including ECS), return cost and locker rent charges. The new charges will be applicable from October 1, 2024. In such a situation, if you have an account in PNB, then know what charge will have to be paid from next month?

1. Minimum balance requirement QAB (Quarterly Average Balance)

Rural: Rs 500
Semi-urban: Rs 1000
Urban and Metro: Rs 2000

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Minimum Monthly Average Balance (MAB)

Rural: Rs 500
Semi-urban: Rs 1000
Urban and Metro: Rs 2000

Which charges have been changed?

According to the information given by the bank, the charge for maintaining minimum balance in the savings account has been changed. Apart from this, changes have been made in the charges for issuing demand draft, issuing duplicate DD, check return charges and locker rent charges. You can get information about the fee changes from the bank’s website.

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Customers whose KYC will remain pending after December 12, may face difficulty in doing transactions from their account. That’s why it is very important for all customers to get KYC done by 12 December. The bank has said that according to the rules of the Reserve Bank of India , customers should get their KYC updated by December 12, 2022.

PNB has said in a press release that the customers whose KYC updation is pending, have been informed through two notices on their registered address and SMS on their registered mobile numbers. On 20 and 21 November 2022, the bank had issued a notification in this regard on its social media account as well.

Punjab National Bank had said in its tweet that as per RBI guidelines, KYC updation is mandatory for all customers. If your account was due for KYC updation by 30.09.2022, you have already been informed about the same. Visit the base branch to update your KYC before 12.12.2022. Due to non-updation, the operation of your account can be banned.

RBI gave this advice

The Reserve Bank of India has advised all banks to update KYC regularly in view of the increasing threat of online fraud in the country. Earlier banks used to ask customers to update KYC once in 10 years, but now many banks are advising to update it even after an interval of three years.

These documents will have to be given for KYC

Customers will have to provide address proof, photo, PAN, Aadhaar number and mobile number to get KYC updated. You can also accomplish this task by sending an e-mail. Also, you can complete this process by visiting the branch of the bank. The bank has made it clear that no customer is called for KYC update. So don’t fall into this kind of trap. If any customer has KYC related problem, they can directly contact the customer care number of the bank. Or you can go to the bank and contact the employees.

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