Alert to PNB account holders! You have to pay more for these services from next week
Increase in NBI costs: The Punjab National Bank has increased its fees on a multitude of services, the lender recently notified. There have been several changes in the banking industry during the New Year, which took effect on the first day of this month. This includes the increase in ATM withdrawal fees, which have risen from Rs 20 to Rs 21 according to an RBI mandate, from the first day of 2022. However, the further price increases set by the Punjab National Bank (PNB) for its General Banking Services, one of India’s largest public sector lenders, will take effect from January 15, next Saturday.
The following are the areas where the general banking service charge has been increased by the Punjab National Bank:
Charges for non-maintenance of the QAB: According to the Punjab National Bank website, which made the new tariffs available, the limit for not holding the quarterly average balance (QAB) in metropolitan areas has been increased by 5,000 rupees. The previous fee for this was Rs 5,000, and the new fee that customers have to pay is Rs 10,000.
Fee for not maintaining the minimum balance: The rates for not maintaining the minimum balance in rural and semi-urban areas have been raised to Rs 400 per quarter. Currently, the bank charges Rs 200 to its customers in these regions for not maintaining the minimum balance. The same has been doubled to Rs 600 for urban areas and metropolitan cities, against Rs 300 currently, the PNB said on its website.
Bank record fees: In addition to the extra large lockers, the cost of maintaining bank lockers has been increased in all areas, including rural, semi-urban, urban and metropolitan cities. For example, a small locker maintenance fee would be Rs 1,250 in rural and semi-urban areas, as opposed to the current Rs 200 in the same locations. For urban areas and metropolitan cities, the fees have been increased by Rs 500 each, according to the bank’s website.
Free limit of bank locker visit: The free limit for visits to PNB bank lockers has also been reduced. Previously, subscribers were entitled to 15 visits per year for free. The limit has now been reduced to 12, after which a fee of Rs 100 will be levied, the bank said in a notification.
Cash handling fees: In its notification, the bank said that cash deposits based on the transaction and the amount had been increased. Under the new rules, a customer can only complete a maximum of three cash deposit transactions at both base and non-base branches, after which a fee of Rs.50 will be charged on each transaction. Previously this limit was 5 transactions per month, after which Rs 25 was charged for each transaction. This rule does not apply to BNA, ATM and CDM transactions. In case of amount base, cash deposits greater than Rs 1 lakh will incur a fee of Rs 0.25 per coin. Previously this was set at Rs 2 lakh. This will be done on a “per day” basis.
Apart from these, other services such as issuing duplicate drafts, canceling overdrafts, current account charges have also been increased by the bank. These new charges will come into effect from January 15, next week. “All other service charges related to general banking services (not related to credit) except above as mentioned on the bank’s website will remain unchanged,” Punjab National Bank said in its notification.
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