PNB revises Non credit and Cash Deposit Service Charges

PNB revised Cash Deposit Service Charges
PNB revised Cash Deposit Service Charges

PNB revises charges for various non credit related services and cash deposit service charges. Now PNB customers will have to pay charges for cash deposit above Rs. 5000/- in non base branch even if it is located in the same city. Currently, the customers of Punjab National Bank (PNB) are levied charges only for depositing cash over Rs 25,000 at a non-base branch within the same city.

“It has been decided to revise the non-credit related charges (exclusive of GST) with effect from September 1, 2017 for cash deposit above Rs 5,000 at other than base branch within the same city,” PNB said in a communication to customers.

What are revised Cash Deposit Service Charges ?

A Customer who want to deposit cash, will have to pay Rs. 1 per Rs 1000 for deposit above Rs. 5000 or part thereof with a minimum of Rs 25 per transaction.

PNB revised Cash Deposit Service Charges
PNB revised Cash Deposit Service Charges

Cash deposit up to Rs 5000 will be free of cost from September 1 at non-base branch, which at present is limited for Rs 25,000.

For Cash Deposit at Outstation Non-Base Branches (other than same Clg Centre/ City) :

Above Rs 5,000 cash deposit at outstation branch : Rs 2 per Rs 1,000 or part thereof with a minimum of Rs 25 per transaction.

What are revised cheque returning charges ?

PNB new Cheque Return dishonor service charges
PNB new Cheque Return Dishonor Service Charges

The bank has also revised upwards the cheque returning charges for a payment of above Rs 1 crore to Rs 2,000 for first cheque and Rs 2,500 for subsequent bounces. Currently, for a cheque return of above Rs 1 crore, the charges are Rs 1,000 for first cheque and Rs 1,500 for subsequent instances.

What are revised locker charges ?

The bank has steeply raised the locker facility charges in metro branches for different types of lockers. The locker rent is being raised by 25 per cent for small, medium, large and extra large sizes to Rs 1,500, Rs 3,500, Rs 5,500 and Rs 10,000, respectively. Earlier such charges were Rs 1,200, Rs 2,800, Rs 4,500 and Rs 8,000, respectively.

PNB new locker charges
PNB new Locker Charges

PNB will levy a premium of 25 per cent of the locker rent in 22 identified branches, 19 of which are in Delhi, one in Gurgaon and two in Faridabad.

The Delhi branches are: Jangpura Extension, South Extension, GK II, Kalkaji, Sahkaurbasti, Krishna Nagar, Preet Vihar, Suraj Mal Vihar, Model Town, Mall Road, Patparganj, Madhuban, Vikaspuri, Sector 12A Dwarka, Sector 12 Dwarka, Dwarka, New Rajinder Nagar, Punjabi Bagh and Rajauri Garden. Of others, Gurgaon Sector 4, Sector 37 Faridabad and Old Faridabad are the branches to attract a 25 per cent premium on locker rentals.

Note : All the charges are exclusive of Goods and Services Tax (GST) which came into effect from July 1 this year and attract a charge of 18 per cent, up 15 per cent from previous tax regime charges.


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