PNB Costs Hike: The Punjab Nationwide Financial institution has hiked its costs on a bunch of companies, the lender has notified not too long ago. There have been a number of adjustments within the banking sector within the new 12 months, which got here into impact on the primary day of this month. This contains the hike in ATM withdrawal charges, which has gone up from Rs 20 to Rs 21 as per an RBI mandate, ranging from the primary day of 2022. Nevertheless, the brand new worth hikes set by the Punjab Nationwide Financial institution (PNB) for its normal banking operations companies, one of many main public sector lenders in India, will come into impact from January 15, which is subsequent Saturday.
Listed here are the areas the place service charges pertaining to normal financial institution operations have been elevated by the Punjab Nationwide Financial institution:
Costs for Non-Upkeep of QAB: As per the Punjab Nationwide Financial institution web site, which has made accessible the brand new tariffs, the non-maintenance of quarterly common steadiness (QAB) restrict in metro metropolis areas has been elevated by Rs 5,000. The earlier costs for this was Rs 5,000, and the brand new costs that prospects need to pay is Rs 10,000.
Costs for Non-Maintenace of Minimal Steadiness: The charges for non-maintenance of minimal steadiness at rural and semi-urban areas have been elevated to Rs 400 per quarter. Presently, the financial institution costs Rs 200 from its prospects in these areas for non upkeep of minimal steadiness. The identical has been doubled at Rs 600 for city areas and metro cities, from the present Rs 300, the PNB has mentioned in its web site.
Financial institution Locker Costs: Aside from further giant lockers, the costs for sustaining financial institution lockers have been elevated in all areas together with rural, semi city, city and metro cities. For instance, a small locker upkeep cost could be Rs 1,250 in rural and semi city areas, versus the present Rs 200 in the identical locations. For city areas and metro cities, the costs have been hiked by Rs 500 every, in accordance with the financial institution’s web site.
Financial institution Locker Go to Free Restrict: The free restrict for visits to the financial institution lockers of the PNB has additionally been lowered. Earlier, subscribers have been entitled to 15 visits per 12 months without cost. The restrict has now been lowered to 12, put up which a cost of Rs 100 will probably be levied, the financial institution mentioned in a notification.
Money Dealing with Costs: The financial institution in its notification mentioned that money deposits based mostly on transaction and quantity have been hiked. Underneath the brand new guidelines, a buyer can solely do as much as three money deposit transactions at base and non-base branches after which a payment of Rs 50 will probably be charged on every transaction. Earlier, this restrict was 5 transactions per thirty days, following which Rs 25 was charged for every transaction. This rule doesn’t apply to BNA, ATM and CDM transactions. In case of quantity foundation, money deposits over Rs 1 lakh will entice a payment of Rs 0.25 per piece. Earlier, this was set at Rs 2 lakh. This will probably be carried out on a ‘per day’ foundation.
Other than these, different companies like duplicate draft issuance, overdraft cancellation, present account costs have additionally been elevated by the financial institution. These new costs will come into impact from January 15, which is subsequent week. “All different service costs of normal banking associated (non-credit associated) besides above, as talked about on the financial institution’s web site will stay unchanged,” the Punjab Nationwide Financial institution has mentioned in its notification