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Punjab National Bank Savings Account
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Punjab National Bank Savings Account

If you want to open a Punjab National Bank savings account, you will be happy to know that you can open a PNB savings account online, in addition to being able to do so offline. The PNB bank savings account minimum balance and QAB (quarterly average balance) is fairly competitive and most account-holders are able to maintain these balances without any challenges. Moreover, the PNB savings account interest rate is attractive and at par with the average interest rates offered by most banks. 

A savings account is a means to centralize and secure spare capital. Most companies will insist that your salary is paid into a savings account. If you have just begun earning and do not have a financial background, here is a quick introduction before we dive in.

Punjab National Bank Savings Account

A savings account lets you keep your capital safe, but is not the way to make your capital grow. 

Although savings accounts pay out interest, the amount is rather small and negligible. You can gather sufficient capital in your savings account and then, when you have a lump sum, you can invest via a fixed deposit, or alternatively you can invest in products like mutual funds by setting up an SIP that diverts money from your savings account to your mutual fund at regular intervals. 

When you have a savings account you typically get at least a debit card and cheque book free of cost to allow you access to your savings. Other conveniences like credit cards and money transfer via RTGS and NEFT are typically chargeable. 

You need a savings account to keep your transactions “white” and to get visas for many countries, besides needing one so that you have a card that can let you make card payments as desired. 

In this post, we are going to cover: 

PNB savings account interest rates

PNB bank savings account minimum balance and QAB

PNB savings account KYC requirements

PNB savings account online registration process

Punjab National Bank (PNB) Savings Account Interest Rates

The interest rate on your PNB savings account balance is 2.80% according to the bank’s own website. 

Punjab National Bank (PNB) Savings Account Minimum Balance and QAB

Minimum balance is calculated as per quarterly average balance and this amount must be a minimum of Rs 5,000. You can calculate your quarterly average balance by adding the end of day balances on each day of the quarter, divided by the number of days in the quarter. Banks are expected to notify you if you are not meeting your QAB requirement and are liable to pay charges. There is no minimum balance on the PNB MySalary account and PNB Rakshak account.

Punjab National Bank (PNB) Savings Account Eligibility Criteria and KYC Requirements

Technically, you can open a bank account when you are 18 years of age, as per the law. The PNB website mentions 25 to 40 years as the eligibility criteria for some types of savings accounts. In addition, minors over 10 years old can open bank accounts with eligible adults. 

Punjab National Bank (PNB) KYC Requirements

Although some types of accounts might have additional requirements, most of the bank accounts will require 

  • Aadhar Number / proof of application for enrolment of Aadhaar
  • Permanent Account Number (PAN) or Form No. 60,
  • Nature of business /professional activity
  • Proof towards financial status


Punjab National Bank Saving Account Opening

PNB savings account opening offline process

If you prefer to apply offline you can locate your nearest branch and visit with originals and copies of all your documents and photographs handy. Fill up the forms at the branch, sign and submit your application for opening your account. 

PNB savings account opening online registration process

If you prefer to begin the process online, you can fill up the online form on the PNB website. Be sure to fill in your mobile number and email address correctly so as to obtain your Temporary Customer Reference Number. Use the TCRN to complete the form and hit submit. You will still need to visit the bank with photographs and originals and copies of all your documents. 

Types of savings accounts

  • PNB MySalary Account
  • PNB Premium Saving Account
  • PNB Select Saving Account
  • Basic Saving Bank Deposit Account
  • PNB Junior SF Saving account 
  • PNB Rakshak Account for defense staff 
  • PNB Power Savings (for women – first holder must be a woman)
  • PNB Saving Account for Premium Customers
  • PNB Unnati Saving Bank Account
  • PNB SF Prudent Sweep Account for Individuals
  • PNB SF Prudent Sweep for Accounts of Institutions  


There is also a scheme for providing overdraft facility for pensioners that can be availed of if the pensioners are drawing pension from PNB, provided the “conduct of the account is satisfactory.”  


PNB Savings Account is easy to obtain – you do have to visit the branch whether you apply online or offline. There are a variety of accounts for people to choose from based on their requirements and their occupation type or occupation status. 

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