Punjab National Bank Current Account

A current account is a business-centric account utilized by various entities like companies, public enterprises, and individual businessmen who require frequent transactions. It accommodates deposits, withdrawals, and transactions tailored for business customers. In this guide, we delve into the different types of Punjab National Bank (PNB) current accounts in detail.

Types of PNB Current Account

Punjab National Bank offers two primary types of current accounts:

PNB Smart Banking Current Account
PNB Current Deposit Account

PNB Smart Banking Current Account

This is one of the most preferred current accounts, offering features and privileges to account holders. It caters to various business needs, with or without Sweep-in and Sweep-out facilities. The Smart Banking Current Account has four variants: PNB Silver, PNB Gold, PNB Diamond, and PNB Platinum. For more detailed business services, explore our Andhra Pradesh Business Services.

The Particulars	The Variants
PNB Silver	PNB Gold	PNB Diamond	PNB Platinum
Minimum Quarterly Average Balance (QAB)	1,00,000	2,00,000	5,00,000	10,00,000
Initial Deposit	5,000

PNB Current Deposit Account

The PNB Current Deposit Account is designed for frequent transactions by individuals and organizations. For detailed document requirements similar to setting up a new account, consider our RCMC Registration in Pune services.

Eligibility

This account is available for:

Individuals
Joint accounts
Sole proprietorships
Partnership firms
HUFs
Companies
Associations
Trusts
Societies
Charitable institutions

Initial Deposit

Rural areas: Rs. 2,500
Semi-Urban areas: Rs. 5,000
Urban areas: Rs. 10,000
Metropolitan areas: Rs. 10,000

Documents Required

To open this account, you'll need:

Application Form (AOF) and specimen signatures
ID and address proof as per KYC norms
Passport-size photographs
Company documents like Memorandum and Articles of Association
Relevant documents for HUF, trusts, firms
Documents as per RBI guidelines

Nomination Facility

Individuals following bank regulations can access the nomination facility.

Additional Facilities

100% integrated network
24/7 ATM services
Free internet banking
NEFT/RTGS fund transfer capability
Standing instructions acceptance, Cheque collection

International Banking Option

PNB also offers an international current banking account for Indian expatriates in the U.K. With a focus on easy management, this account shares similarities with regional specific services like setting up an Indian subsidiary in Purulia.

Features and Benefits

24/7 online account management
Free PNB India remittances
Minimum QAB of £100

Opening an International Account

Individuals can open an account either in-person or by mailing required documents.

Required Documents

Identification proof
Address proof
Account opening form
Separate documents for joint accounts

Learn more about similar procedural steps in our Name Change Guide in Hyderabad.

For consultations and detailed information, you can also reach out to our expert Roshina Perween.

If interested in subsidiary establishment, consider our guide on Nidhi Company Registration in Cherthala.

For understanding responses to official communications, explore How to Reply to a Copyright Objection.

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Frequently Asked Questions

Common questions about Punjab National Bank Current Account Services.

A PNB Smart Banking Current Account is a fully-fledged business account designed for companies, firms, public enterprises, and businessmen who require frequent transactions. It offers various banking needs for businesses with or without the Sweep-in and Sweep-out facility. There are four variants available - PNB Silver, PNB Gold, PNB Diamond, and PNB Platinum.

The minimum QAB requirements for the different variants are: PNB Silver - ₹1,00,000, PNB Gold - ₹2,00,000, PNB Diamond - ₹5,00,000, and PNB Platinum - ₹10,00,000.

If the prescribed QAB is maintained in the previous quarter, the account holder is eligible for various concessions and freebies under each variant. These include free RTGS/NEFT charges, a higher number of free cheque leaves, concessions on cash deposit and withdrawal charges, instant credit on outstation cheques, and waived annual custody charges for Demat services.

The PNB Current Deposit Account is a convenient product designed for frequent transactions by individuals, firms, HUFs, companies, institutions, and other entities. There is no limit specified for performing transactions on this account.

The initial deposit requirements vary based on the location of the bank branch: Rural areas - ₹2,500, Semi-Urban areas - ₹5,000, Urban areas - ₹10,000, and Metropolitan areas - ₹10,000.

The PNB Current Deposit Account can be utilized by individuals, joint accounts, sole proprietors, partnership firms, HUFs, companies, associations of persons, societies, trusts, body corporates, co-operative societies, charitable and other institutions.

PNB Current Deposit Account holders get access to a 100% integrated and computerized network, a wide network of ATMs, free internet banking, ATM cum Debit card, fast remittance through NEFT/RTGS, acceptance of standing instructions, and cheque collection services.

Yes, Punjab National Bank provides the option of an international current banking account for Indian expatriates settled in the UK. The account requires a minimum QAB of £100 (or approximately ₹9,420).

The required documents include an application form, specimen signatures, ID and address proof as per KYC norms, passport-size photographs, and additional documents like Memorandum and Articles of Association, Board Resolution, etc., depending on the type of entity opening the account.

Yes, an individual can open a PNB Current Account by sending the required documents (identification proof, address proof, and account opening form) via post, without visiting the bank branch.