Chapter 3 - Retail Deposits

7/23/2019 Chapter 3 - Retail Deposits

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RetailDeposit:Page1of115

CHAPTER 3

RETAIL BANKING - DEPOSIT PRODUCTS & SERVICES &

DEPOSITORY SERVICES, ONLINE TRADING, 3RD

PARTY PRODUCTS

(INSURANCE, MUTUAL FUND), GOLD COIN BUSINESS

RETAIL DEPOSIT PRODUCTS

PNB Mitra- SB A/c for Financial

Inclusion

Basic Saving Bank Deposit Account

(BSBDA)

Saving Deposit Account PNB JUNIOR-SB A/c for Minors

Mini Deposit Scheme

PNB Vidyarthi Savings Fund Account PNB Prudent Sweep Scheme

PNB Rakshak Sweep & Overdraft

Scheme PNB Shikshak Overdraft and sweep

Scheme

PNB Total Freedom Account Premium Saving Account

Family Suraksha Bachat

Current, Overdraft & Cash Credit

Accounts

PNB Smart Banking Current

Account

PNB Suvidha Pull Sweep Scheme PNB Flexi RD Scheme

Recurring Deposit Scheme

PNB Lakhpati Scheme A PNB Lakhpati Scheme B

PNB Special Recurring Deposit

Scheme

Multi Benefit Term Deposit PNB DUGANA Deposit Scheme

Varshik Aay Yojana SchemeReintroduced

Ordinary Fixed Deposit Scheme

Reintroduced

Anupam Term Deposit

Sugam Term Deposit

NRE Sugam Term Deposit Scheme

NRO Sugam Term Deposit Scheme

PNB Tax Saver-Fixed Deposit Scheme Senior Citizen Savings Scheme, 2004

PNB Growth Fixed Deposit Scheme

PNB Bulk Fixed Deposit Scheme PNB Floating Rate Fixed Deposit

Scheme

MIBOR linked Notice Deposit Scheme Fixed Deposit Scheme For Road

Accident Victims

Balika Shiksha Fixed Deposit Scheme-(National Scheme of incentive to Girls

for Secondary Education) Capital Gains Account Scheme 1988

Prospective Senior Citizen Scheme

Special Term Deposit Scheme

PNB Saksham Recurring Withdrawal

Scheme PNB Saksham Recurring Withdrawal

Scheme- Moratorium period plan

PNB Saksham NRIs / PIOs Scheme Auto Renewal

Over Due Term Deposits

Sukanya Samriddhi Account

Depository Services On-line Trading

Mutual Fund

Insurance


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1. PNB MITRA SAVINGS FUND A/C FOR FINANCIAL INCLUSION

(No-Frills Savings Bank Account for Financial Inclusion of Poorest/Deserving Sections of Society

- No requirement as regard Initial Deposit and Minimum Balance)

Eligibility Individual (single or jointly).

Minor of age 10 years and above & minors under natural/legalguardianship.

An illiterate/visually impaired person is also eligible.

KYC Limited KYC norms. Identity & Address evidence can be a

Declaration by the customer duly attested by local authorities,

members of SHGs, State/Central Govt. Employees, Advocates,

Doctors, Teachers Notary Public etc.

Photograph is must.

Permitted extent of

transactions/operations

Full KYC requirements for opening a normal Saving Fund account to be

completed if any of the following condition is breached.

Balance in the a/c (taken together with all other a/c with our bank)

not to exceed Rs. 50000/- Total Withdrawals during a month does not exceed Rs. 10,000/-

Total credit not to exceed Rs. 1,00,000/-

50 charge-free transactions (including ATM withdrawals) permitted in afinancial year. Thereafter a charge of Rs. 10/- per transaction.

OD Facility

RBD CIR. NO. 9 & 15

DATED 12.05.2009

O/D facility of Rs. 100/- and upto Rs. 500/- would be granted ab-initio

through Bio-metric cards by Business Correspondents.

The overdraft to be allowed to FI customers may be Need Based.

The maximum ceiling of overdraft shall be Rs. 2500/- per borrowerirrespective of the area. Renewal once in three years Annual review.

OD facility at BPLR. OD to be adjusted at least once in a quarter,

else shall be recalled. Min. intt. Rs. 5/- per quarter. Undertaking required that not availed from other bank branch. Minors are not eligible to avail overdraft facility.

Other No cheque book to be issued under the Scheme. Debit Card/ATM Card/ Internet banking facility allowed.

Closure of all other a/c maintained with our bank/other banks within

60 days of the opening of this a/c.

Area of operation would be confined in the radius of 20 kms. of thebranch where the account is to be opened.

All normal rules relating to nomination would also be applicable in

this account.

AOF PNB 1101; and for IT enabled Biometric Smart Card accountPNB 1161.

FOR SMALL A/C : REFER FID CIRCULAR NO. 4/2014 dated.

3/3/2014 AND 26/2014 DT. 31/10/2014


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2. BASIC SAVING BANK DEPOSIT ACCOUNT (BSBDA)

( RMD Consolidated Cir No.70/2014 DT. 22.08.2014, RMD Cir 114/2014 DT 20.11.2014 , Scheme

Code: SBBDA )

Eligibility The Saving Fund account may be opened by an INDIVIDUAL singly or jointly,minors of the age of 10 years and above, minors under natural/legal guardianship. An

illiterate or a visually impaired person is also eligible to open Saving Fund account

under the scheme with usual safeguards.Minimum

Balance

This account shall not have the requirement of any minimum balance/initial deposit

and can be opened with ZERO.

KYC

requirement

The account would be subjected to RBI instructions on Know Your Customer (KYC)/Anti Money Laundering (AML) for opening of bank accounts issued from time to time.

Such accounts can be opened only when a customer is KYC compliant and hence such

customers should not be asked to submit KYC documents again. (RMD Cir.:10/2015)

Cheque

Book

A cheque book of 20 leaves may be issued (at the discretion of the branch incumbent)free of cost in a year. Thereafter, normal cheque book charges would be applicable.

Extent of

transaction /

Operation

There will be no limit on the number of deposits that can be made in a month.

At Branch level, Account holder is allowed a maximum of 4withdrawals in a

month; however, the number of ATM withdrawals will be excluded in overalllimit of 4withdrawals in a month. The customers of BSBDA will be able to

withdraw the amount through ATM as per existing ATM guidelines i.e. free at

PNB ATM and charges at other Banks ATM over and above free monthlyATM transactions permitted.

Debit Card

ATM Card

ATM-cum-Debit Card is permitted without any charge. However, annual maintenancecharge shall be recovered.

Nomination All normal rules relating to nomination would also be applicable in this account.

Biometric

Details

Capturing of Biometric Details in Basic Saving Bank Deposit Accounts (BSBDA) to

enable online transaction at Business Correspondent (BC) locations. Detailedoperational guidelines given in FI Division Cir. No.11 dated 22.08.2013which inter-

alia provide that entering of biometric detail in an account makes it feasible to transactatBClocations.

Other

Terms and

Conditions

Holder of Basic Saving Bank Deposit Account will not be eligible for opening

any other saving bank deposit account in the same bank. BSBDA holder will be

required to close all existing saving fund account in our Bank within 30 daysfrom the date of opening of the account.

The services available in the account will include deposit and withdrawal of cash

at bank branch as well as ATMs, receipt/ credit of money through electronicpayment channel or by means of deposit/collection of cheques drawn by

Central/State Government agencies and department.

No charge will be levied for non-operation/activation of in-operative of Basic

Saving Bank Deposit Account. The existing basic banking no frill accounts will be converted to Basic Savings

Bank Deposit Account (PNB Zero Balance Account) after completing KYCnorms.


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3. SAVINGS DEPOSIT ACCOUNTS

INTRODUCTION: Savings Deposit has been defined by the IBA in its Model Policy on Bank

Deposits as a form of demand deposit withdraw able by cheque, which is subject to restrictions as tothe number of withdrawals as also the amounts of withdrawals permitted by the Bank during any

specified period. Interest is calculated on daily balance basis and credited half yearly.

ELIGIBILITY:Can be opened by an Individual (singly or jointly); in the name of a Minor by his/her

guardian, who shall be required to give in writing, the date of birth of the minor; by a minor of the ageof 10 years or above on his/her furnishing a satisfactory proof of age. On attaining majority, the

erstwhile minor should confirm the balance in his/her account and if the account is operated by the

natural guardian / guardian, fresh specimen signature of erstwhile minor duly verified by the natural

guardian would be obtained and kept on record for all operational purposes. Savings Fund Accountcan also be opened by a minor jointly with natural guardian or with mother as the guardian. By two

or more persons, in their joint names, payable to either or any one or more or all of them or survivor

or survivors, former or survivor(s). By a Society, Club, Association, Trust, Charitable/EducationalInstitution, provided it is not a trading or business concern. By the Societies/Institutions/Associations,

which are not liable to pay Income Tax under the Income Tax Act, 1961.

NON-ELIGIBLE: Banks are prohibited from opening Savings Accounts in the name of Govt.

Departments/ Bodies depending upon budgetary allocations for performance of their

functions/Municipal Corporations or Municipal Committees/Panchayat Samitis/ State Housing

Boards/ Water and Sewerage/Drainage Boards/State Textbook Publishing Corporations/Societies/Metropolitan Development Authority/State/ District Level Housing Co-operative Societies etc. or any

political party or any trading, business or professional concern, whether such concern is a proprietary

or a partnership firm or a company or an association.

EXCEPTION TO NON-ELIGIBILITY I.E. WHO ARE ELIGIBLE: The above prohibition will

not apply in case of Organisations/ Agencies: Primary Co-operative Credit Society which is beingfinanced by the Banks, Khadi & Village Industries, Agriculture Produce Market Committee, Societies

registered under the Societies Registration Act 1860 or any other corresponding law in force in State

or a Union Territory, Companies governed by the Companies Act, 1956 which have been licensed bythe Central Govt. under Section 25 of the said Act or under the corresponding provision in the Indian

Companies Act, 1913 and permitted, not to add to their names the word 'Limited' or the words 'Private

Ltd.' In terms of the relevant provisions of Companies Act . Institutions other than those mentioned inclause 22 (n) (i) above and whose entire income is exempt from payment of income tax under the

Income Tax Act, 1961, Government departments/bodies/agencies in respect of grants/subsidies

released for implementation of various programmes/schemes sponsored by Central Government/StateGovernment subject to production of an authorisation from the respective Central / State Government

departments to open savings bank account. Development of Women and Children in Rural Areas(DWCRA). Self-Help Groups (SHGs), registered or unregistered, which are engaged in promoting the

saving habits among their members. Farmers' Clubs-Vikas Volunteer Vahini- (VVV)Institutions/Associations and societies, which are not liable to pay income tax, under the Income Tax

Act, 1961, will be eligible for opening Savings Accounts. Before opening such accounts, incumbent

incharge should obtain copies of bye laws of the institution/association/society to satisfy themselvesthat the institution is exempt from payment of income tax.


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Applications to open Savings Fund Accounts: Can be taken duly filled and signed in the presence

of an authorised officer on Form No. PNB 1084(A), PNB 1101 (PNB Mitra) & PNB 1161 (IT enabled

Smart Card Based), with Annexures, in respect of individuals and joint accounts, as well as minors.Annexure on PNB-984 will be obtained additionally in respect of illiterate depositors. Appropriate

Account Opening forms along with other necessary documents will be taken in respect of other types

of account holders viz. Clubs, Societies, Trusts etc. Form-60/61or PAN number as the case may be,

has to be obtained.

Quarterly Average Balance: In Savings Deposit Accounts prescribed minimum QAB that adepositor has to maintain, failing which, penalty can be imposed.

Minimum Deposit Amount: In a Savings Account minimum Rs.50/- can be deposited except

under specified schemes where no minimum deposit is stipulated.

Number of Withdrawals: Max. no. of withdrawals is 50 per half year whether by cheque or

otherwise. A service charge per withdrawal in excess of the limit prescribed shall be levied as perextant guidelines.

Withdrawal Slip to Withdraw: In the base branch on presentment of Withdrawal Slip by the

account holder personally, he/she may be permitted withdrawal of unlimited amount, subject to

observance of usual safeguards, viz. production of pass book, verification of signatures, availability

of balance etc. Cash payment against tender of Withdrawal Slip shall not be permitted to thirdparty, even if the same is accompanied with pass book.

Issue of Cheque Books in the New Accounts: One of the requirements while opening New

Accountsis that the Bank should send a letter by post both to the customer and the introducer to

seek their confirmation for opening the account and giving introduction respectively. Cheque

Books may be issued after receipt of confirmation from both. The very purpose of the same is toensure that the addresses given by them are genuine. These formalities in opening the account are

required to be observed meticulously.

Charges for Closure: No charges shall be levied for providing the facility of switching / closure of

account within 14 days. If a depositor closes his account, after trial period of 14 days but within 12

months of its opening, the prescribed charges shall be recovered.

Notice for Closure: The bank may close Savings Account, without assigning any reason, aftergiving one month notice in writing to the depositor.

Closing Account by Customer: When a depositor wishes to close his savings account, interest

due will be applied by debit to the 'interest accrued on savings accounts. (Or interest paid on

savings accounts, if necessary), and the balance of the account will be paid to the depositor, againstthe usual withdrawal slip. The relative passbook will be ruled off, marked "Account closed", in red

ink, and returned to the customer. If an account is closed, within a year, of its opening except those

closed on account of death of account holder, charges as prescribed by the Head Office, from timeto time, will be levied.

Transfer of Account: A Saving Account may be transferred free of charge from one branch to

another branch of the bank on written application from the depositor.

Inoperative Accounts: Accounts, which have not been operated for two years, will be transferredto inoperative accounts (others) head. On the 1st of March each year, such inoperative accounts, ashave not been operated for a further period of eight years or more, will be further transferred to

Inoperative Accounts for 10 years or above.


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4. PNB JUNIOR SAVING FUND ACCOUNT FOR MINORS

(RMD Cir. No. : 86 & 93/2014 - CBS CODE : SBMIN)

PURPOSE To offer an attractive Saving Fund a/c to Minor

Type of A/c Umder Guardian (U/G) and Self Operated account by Minors

of 10 years & above (age proof).KYC Fully Compliance.

Initial Deposit & Q.A.B. ZERO & No. Q.A.B. maintenance required

CONCESSION / FREE

FACILITIES

CHEQUE LEAVS : 20 Cheque Leaves per Half Year

NEFT CHARGES : Free upto Rs.10000/- Per Day

ISSUE OF DD: Free for School/College Fee. ATM CARD : Rupay Card can be issed to minors above 10

years of age & per day Max. withdrawal of Rs.5000/- from

PNB ATMS.

IBS / MOBILE BANKING : Only view facility in Self

operated a/cs by Minors.

FREE PIGGY BANK (GULLAK) : On requestNo Overdraft facility.

ON ATTAINING MAJORITY REVISED

INSTRUCTIONS / SIGNATURES PHOTO & A/C TO BE

CONVERTED INTO SBGEN.

5. MINI DEPOSIT SCHEME (RMD CIR. NO.55 & 75 / 2013 & 39/2014)

Applicablity Only at branches where Mini Deposit Scheme is in operation.

Eligibility All except Corporate clients

Minimum Amount Rs. 10/- & in multiples thereof

Ceiling Rs. 5000/- per month per a/c.Menu Option MDNOAAC

Scheme Code : RDMDN

Period Of Deposit 12/36/60 month (not changeable)

Loan & Intt Rate Loan facility is available at Base Rate

Wages To Collector Rs.750/- Min. against Minimum deposit of Rs.7500/- p.m. & nocommission if depositor directly deposits in Bank.

General Cheques not allowed for Deposit. Payment is made on due date

otherwise Principal + Intt. Shall be transferred to Overdue Mini

Deposits A/c.


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6. PNB VIDYARTHI SAVING FUND ACCOUNT

(RMD Consolidated Cir. 72/2014 dated 27.08.2014)

Eligibility I. Self operated accounts:

may be opened in the name of student who have attained the age of 10years and above, studying at a recognized education institution.

II. Account of a child under guardianship :

a) The account of child who is admitted at a recognized educationinstitution may be opened irrespective of age of the child.

b) No Debit Card/ ATM Card would be issued for this account.

c) For availing Over Draft facility under this scheme, necessarydocumentation shall be executed by the guardian.

Initial Deposit Amount/

QAB/Minimum

Balance Required

NIL

Overdraft On the request of the student with the UNDERTAKING TO PAY/CONSENT LETTER from earning parents/natural guardian/local guardianof student. In the first year of opening of account, the facility would be

available upto a maximum limit of Rs. 5,000/-. Subsequent to the

satisfactory conduct of the account, in second year it could be enhanced

upto Rs. 10,000/-. Other terms & conditions of this overdraft facility wouldbe as under:

1.ROI:As applicable to Personal Loans to the general public.

2. AGE OF STUDENT: The overdraft facility would be available for thestudents, having completed the age of 18 years

3. PURPOSE: Contingent day to day needs of those students who are

staying away from their parents for the study purposes having got anadmission with recognized and reputed educational institutions.

4. REPAYMENT: For repayment purposes, a single post dated cheque

must be obtained from earning parents/natural guardian/local guardian

of student and kept on record.

5. RECOVERY ASPECTS: The overdraft facility must be brought into

credit once in 3 months, failing which recovery process be started.

Also, facility not continued in the final year and account must bebrought into credit at least 6 months beforethe expiry of the tenure of

the study period

6. OD facility will not be available to Student of Foreign National

Other

Can be opened with zero balance, No incidental charges

Free Cheque book facility 40 cheque leaves in a year Free ATM Cum Debit card (Annual maintenance charges are to be

recovered)

Free Retail Internet Banking Services Free Inter-sol transactions including cash

Free issuance of Draft for all type of fees/examination fees.


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The status of the account be changed to General Category after

attaining the age of 21 years.

Branch Incumbents have been vested with the powers to extend thebenefits of PNB Vidyarthi Product upto 25 years on case to case basis,

only in case of Students pursuing post graduation courses.

Cessation Date is to be filled in V detail free text 5 at the time of

besides taking mandate letter at the time of opening of account itself. All other guidelines of the Bank regarding photographs, introduction,

nomination facility, KYC norms, etc., as applicable to Savings FundAccount would also continue to remain applicable to these accounts

To arrest the misuse of the Vidyarthi scheme, in case of student

accounts where student age is below 21 years, an exceptional report is

customized in menu option CTRPT to monitor those accounts whereTotal Credits exceed Rs. 2 Lac at any point of time during the Financial

year or Balance Outstanding exceeds Rs. 1 Lac at any point of time

during the Financial year.

INOPERATIVESTATUS IN PNB

VIDYARTHI

ACCOUNT

(RMD Circular No.

08/2015 dt 11.02.2015)

Account opened under PNB Vidyarthi Scheme (SBVID) willnot be transferred to Inoperative category w.e.f 10.02.2015

even though there is no customer induced transaction in the

account for a continuous period of 24 months.

The guidelines are also applicable in existing PNB Vidyarthi

Accounts which have already transferred to Inoperative category

due to non customer induced transaction in the account in last 24months. It should be ensured that Vidyarthi Account in

inoperative category must be transferred to operative category so

that benefit received under Govt. welfare scheme be credited in

PNB Vidyarthi account

BANKING SERVICESFOR FOREIGN

STUDENTS

STUDYING IN

INDIA: KYC

procedure

(RMD Cir 31/2014

dated 15.03.2014)

Within a period of 30 days of opening the account, the foreignstudent should submit to the branch where the account is opened, a

valid address proof giving local address, in the form of a rent

agreement or a letter from the educational institution as a proof of

living in a facility provided by the educational institution. Branches should not insist on the landlord visiting the branch for

verification of rent documents and alternative means of verification of

local address may be adopted. During the 30 days period, the account should be operated with a

condition of allowing foreign remittances not exceeding USD 1,000

into the account and a cap of monthly withdrawal to Rs. 50,000/-,

pending verification of address. Neither IBS nor cheque books should be provided till the address

proof is submitted.

On submission of the proof of current address, the account wouldbe treated as a normal NRO account in terms of extant guidelines of the

bank issued on NRO account

Students with Pakistani nationality will need prior approval of RBI


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for opening the account.

7. PNB PRUDENT SWEEP SCHEME

( RMD Consolidated Cir No. 71/2014 DT. 22.08.2014 )

Eligibility Accounts can be opened as per RBI directives for opening Saving Fund Accounts of

individuals/institutions. Staff members are also eligible to open their accounts underthis Scheme.

Initial Deposit Rs.500/-

Minimum

Q.A.B.

Rs. 5000/- for Rural/Semi-Urban & Rs.10000/- for Urban/Metro areas.

For Govt. Accounts, it would be NIL.

Incidental

Charges

Rs. 150/- per quarter for not maintaining stipulated Quarterly Average Balance for

Rural/Semi-Urban areas and Rs. 300/- for Urban/Metro areas. It will be foroperative as well as in-operative accounts under this category.

Cut-off

level

for Sweep in

& Sweep out

At all Centres across India, irrespective of location of Branch i.e. Metro / Urban /

Semi-Urban & Rural areas, Sweep In and Out shall take place in Savings Accounts

after the cut off level of Rs.40,000/- i.e.Saving Accounts having a balance of over

Rs.40,000/- with a minimum Sweep-out/Sweep-In of Rs.10,000/- and thereafterin multiples of Rs.10,000/- to/from Fixed Deposit.

Period of Fixed

Deposit

No manual intervention. System itself makes FDRs under this scheme for minimum

period of 7 days and for maximum period of 179 days. The customer will get the

prevailing fixed deposit Card Interest Rates (for below Rs.1 Crore amount of Single

Term Deposit) on the amount swept in and out in the accounts provided it hadremained under FD portion for a minimum period of 7days.

Operational

Modalities

Debit mandates either through clearing/transfer/cash or in case the customer

withdraws the amount from PNB PRUDENTSWEEP Account, this type of

situations would be treated as under:

The balance available upto Rs.40,000/- in the Prudent Sweep a/c would

be utilized. For further needs, withdrawal will be allowed from FixedDeposit in the multiples of Rs.10,000/-, on Last In First Out Basis (LIFO)

Attractive

Freebies/

Concessions

1. Free ATM Card facility, however, annual maintenance charges are to be

recovered.2. Free Remittance Facility-Upto two remittances with the maximum amount of

Rs.25000/- (for both remittances) in a month.

3. Free Collection of Outstation Cheques : Upto the maximum amount ofRs.25,000/- in a month. However, out of pocket expenses will be recovered.

4. FreeRetail Internet Banking Services.

5. Free 100 cheque leaves in a Financial year, this includes 40 cheque leavesprovided free to saving customer.

6. 50% concessions on Annual Maintenance charges for D-mat Services for 1styear only.


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8. PNB RAKSHAK SCHEME : (RMD Consolidated Cir. No. 88/2014 dtd. 24.09.2014)

Eligibility All Defence Personnel are eligible to open account under the schei.e. three wings of Defence, including BSF, CRPF, CISF, ITBP, St

Police Forces, Metro Police (Cities which follows PolCommissionerate System-like Delhi Police, Mumbai Police, KolkPolice etc.), Research and Analysis Wing (RAW), Intelligence Bur

(IB), Central Bureau of Investigation (CBI) & Para-Military personn

Pensioners of Indian army in case they choose to draw pension fr

PNB branches. The account under the scheme is opened as per the rof the Defence Personnel because various facilities are provided as

rank, given hereunder:

PBORs (Person below officer rank)- PBORS Code isbe entered in Occupation in Customer Master

Lieutenant, Captains, Majors - MCLTS Code is to

entered in Occupation in Customer Master Lt. Cols and Cols - LTCOL Code is to be entered

Occupation in Customer Master

Brigadiers and above - BRIGA Code is to be entered

Occupation in Customer Master

The account of the Defence Personnel i.e. Army, Air Force, Na

Para Military

Forces personnel is to be opened/converted in the same sche

code i.e. SBDPS or SBDPO and occupation of the customer is to

entered as EGOVT. However, it is pertinent to clarify here t

in case of these accounts, PNB Rakshak Classic Debit cum AT

Card will be issued Person Below Officer Rank and PNB RakshPlatinum Debit cum ATM Card to Officers.Occupation Code

others are as under:

For Police Account - POLIC

for Coast Guard is - COASTFor ITBP - ITBPP

Initial Deposit and QAB NIL

Sweep In and sweep Out OR

Overdraft facility

There are 2 types of facilities available to customers under PN

Rakshak Scheme i.e. Auto Sweep facility OR Overdraft facility a

customer has to opt either of the twoin advance as customer can

avail both the facilities.SWEEP IN AND OUTSweep In and Out shall take place in Savings Account after the cut level of Rs. 10,000 i.e., having a balance of over Rs. 10,000/- wit

minimum Sweep-out/Sweep-In of Rs. 1000/- and thereafter in multip

of Rs. 1000/- to/from Fixed Deposit.FDRs under this scheme will be issued by the system for a period o


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to 179 days. The customer will get the prevailing fixed deposit c

interest rates (< Rs 15 Lacs) amount of single Term Deposit on

amount swept in and out in the accounts provided it had remainunder FD portion for a minimum period of 7days.

OR

OVERDRAFT FACILITY:

OD facility upto a sum of last two months net salary is toprovided to Defence Personnel whose salary is being disbur

through our branches at the interest rate 6.5% above Base raThe overdraft is adjustable any time during the next six mon

salary(ies) or in bullet repayment, if desired by the account holde

The facility of overdraft shall be immediately discontinued in c

the overdraft remains outstanding by the end of the succeeding

months, besides taking other corrective measures for recovery

the dues. Further, fresh overdraft will be allowed after adjustm

of previous Overdraft. Request from the Defence Personnel may be taken for an overdr

against salary by way of Request-cum-Consent Letter (specimavailable in Circular-App-III).

In accounts where overdraft facility has been sanctioned /avail

the Overdraft will be adjusted first and thereafter the account sh

be closed.

KYC Norms Know Your Customer (KYC) norms, a Certificate issued by

Authorized/Commanding Officer carrying an authenticated passpphotograph of the concerned employee and present address, in addit

to identity card with authenticated photograph issued by

Department, will be acceptable to the Bank. In addition, as per rec

RBI guidelines, copy of additional documents like Passport, PAN Ca

Driving License, Voters ID Card etc will be required to be submitted

Other Facilities The following facilities are also available under the scheme as

different ranks

1 2 3 4

Eligibility PBORs (Person below

officer rank)

Lts,

Captains,

Majors,

(MCLTS)

Lt Cols and Cols

(LTCOL)

Brigadiers an

above (BRIGA)

ATM cum Debit Card Free

Unlimited number

of transactions.

InternationalRakshak

Classic Debit

Card.(MasterCard)No

Annual

Free

Unlimited number of transactions.

International Rakshak Platinum DebiCard.

No Annual maintenance charges.

Two Add On Cards for close family

members free of cost. (*)

Rs. 2 Lac limit for Point of Sale (POS)

facility is available.


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Maintenance

charges.

Two Add OnCards for close

family members

free of cost(*).

Rs. 2 Lac limit forPoint of Sale

(POS) facility isavailable.

Free group

accidental death

insurance onactive Debit

Cards. #

Free group accidental death insurance on

active Debit Cards. #

(*) The primary card holder will be responsible for all the transactions made by Add On Card holder.

#Insurance Cover: RakshakClassic Debit Card : Rs. 2.00 Lacs

RakshakPlatinum Debit Card :Rs. 5.00 Lacs(Personal Accident Insurance cover is based on the Debit Card type held by the account holder, i.e., Classic Debi

Card and Platinum Debit Card. The Bank will not be held responsible and/or liable if the card held by the accoun

holder is not active. An active Debit card is one, which has been used for a successful financial transactiowithin 45 days preceding the date of incidence and amount can be claimed under Debit Card Holder

Compensation policy within 60 days from loss of life (Refer : TBD Cir. 60/2014 dt. 17/10/2014). The car

must be activated and the monthly salary should be credited regularly to the PNB Rakshak account)

Any number of transactions subject to a maximum limit of Rs. 50,000/- pe

day. Free at all ATMs subject to RBI regulations as applicable from time to

time.

Internet Banking

Free facility offered from PNB. Charges applicable to third party sites like Railways etc. Payable.

Transfer of funds throughcheques/ otherwise between

PNB Branches (All Centers,

i.e., Local as well as Outstation)

Free

Cheque Book Unlimited and free (except for bulk requirement for EMIs payable to othe

Banks/ FIs/NBFCs)

Multicity Cheques (Payable at

par at all Branches)

Cheque Leaf Charges: NIL

Payment Charges: NIL

Draft Issue (Number of freedrafts issued per month) with a

ceiling of Rs. 50,000/- on each

draft if issued through PNBRakshak Account.

5 10 25 Unlimited

RTGS/NEFT Free

Remittance by Nepali Gorkha


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Personnel serving in Indian

Army from India to Nepal &

vice versaFree #

#Subject to conditions as stated below:

For remittances from India to Nepal by Nepali Citizen serving Indian Defence, Everest Bank Ltd. (EBL) shaloffer free of charge remittance for credit of funds into accounts of EBL account holders.

In case of remittance of funds by Nepali citizen serving Indian Defence from Nepal to India, EBL shall waive thecommission charges on remittance of those account holders of EBL whose remittance is to be credited toaccounts maintained at any branch of PNB.

In case of credit into bank account other than PNB in India, EBL shall charge INR 100/- per remittance to cove

the charges payable to Indian Banks.Exchange Commission on buying Indian Rupees (INR) for remitting from Nepal to India shall also be subject to

fulfilment of prevailing regulatory conditions in Nepal.

Preferential allotment of

Lockers

Available to all types Rakshak accounts

Concession in Locker charges 25% for Small locker for first year only.

Utility Bill Payments through

Internet

Free of Cost (as per the present Scheme).

Passbook Available for all accounts Free updating at Non Home Branches also.

Concession in margin

requirement on Home loan

(upto 50 lacs only)

5% for all Rakshak accounts.

Online Trading (3 in 1Account)- Demat, Share

Trading and Savings Account

Available through IDBI, SMC & Networth (Approved Brokers)

Instant Credit of Outstation

cheque Upto

Rs. 25,000/- in all Rakshak Accounts.

Standing Instructions Registration Free in all types of Rakshak Accounts.

Processing and documentation

charges on Housing / Car /Personal loan

Waived upto 31.03.2015

Duplicate statement/passbook: Rs 100 with latest balance and Rs 2 per

entry minimum Rs 100/- and maximum Rs 1000/-

Closure of Account: Rs. 150 (Except in case of death of customer) will be

levied in case of closure of accounts before completion of 1 year of

opening of account.

The existing saving fund accounts of defence personnel may be convertedinto new scheme after obtaining an Application-cum-undertaking

(Appendix I) from them. This application cum undertaking is to be taken

from all account holders whether new or converted. All personnel whohave opened account under PNB Rakshak Scheme (whether new accounts

or converted), will undertake to obtain No Objection Certificate (NOC)

from PNB as per Appendix II in the event he/she desires to change toanother Bank forcredit of salary.


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9. PNB SHIKSHAK SCHEME: (RMD Cir. No. 82/2014 dated 03/09/2014)

Eligibility All Permanent Teachers of recognised schools/colleges /educatio

institutes

Initial Deposit NIL

Minimum QABRequirement

NIL

Sweep In & Sweep Out Sweep In and Outshall take place in Savings Account after the cut

level of 15000 i.e., having a balance of over 15000/- with a minim

Sweep-out/ Sweep-In of 1000/- and thereafter in multiples of 10to/from Fixed Deposit

FDRs under this scheme can be issued for a period of 7 to 179 days.

The customer will get the prevailing fixed deposit card interest rates (

Documents

Chapter 3 - Retail Deposits