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PNB Student Savings Account

PNB Vidyarthi Savings Fund Account Scheme, a PNB Student Savings Account aims to benefit students studying at various recognised educational institutions. The account remains with the account holder till they attain 21 years of age. PNB Students Savings Account is a zero balance account and hence there is no requirement to keep a minimum average balance.

Being a student is one of the best phases in one’s life. It is time to learn, grow and become better individuals. If your kid is studying in a different city, it becomes important to make sure that your child does not have to face any money problems. Student savings account help in doing that.  

After the account holder attains 21 years, the account is converted to a regular savings account. For some students, depending on their situation, the benefits of the account can be extended till 25 years of age.

Features and Benefits of PNB Student Savings Fund

pnb student savings account

Zero Balance Account

PNB Student savings account is a zero balance account. Hence, there is no minimum balance requirement and no penalty for not maintaining the minimum average balance.

While few banks charge an amount as an initial deposit requirement, the students savings account do not have any minimum initial deposit.

Lesser charges

PNB Students Savings Account have no annual maintenance charges of the account or debit card. Demand drafts for all types of fees such as admission fee or examination fees, is free of cost. The bank account does not have ledger folio and incidental charges as well.

Free debit card

Debit cards make transactions extremely easy. Whether it is making online or offline payments, a debit card saves you from the risk of carrying cash. PNB Students Savings Account offer free debit cards to its customers.

With the help of the debit card, students can withdraw cash from their savings account. However, it comes with a small annual maintenance charges.

Cheque book facility

The PNB student savings account offers two cheque books of 20 leaves in a year.

Who and How to open PNB student savings account

The PNB Vidyarthi Savings Fund can be opened by parents or guardians for their children. The children should be studying in a recognised institution.  And the student should be below 21 years of age.

Documents needed to apply for PNB student savings account:

  • Valid Identity proof of the student
  • Valid Address Proof
  • Institution identity card of the student.
  • Birth certificate of the student

The other benefits of regular savings account is also applicable to the account holders of PNB Student Savings Account. These include interest rates, photographs, introduction, nomination facility, KYC norms, etc

There are other benefits of the account as well All other guidelines of the Bank regarding photographs, introduction, nomination facility, KYC norms, etc., as applicable to Savings Fund Account would also continue to remain applicable to these accounts

So, if you are looking for a student savings account, you can try out PNB Vidyarthi Savings Fund.

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