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PNB zero balance account is the basic savings account called PNB Basic Saving Bank Deposit Account. The account is part of Pradhan Mantri Jan Dhan Yojana, the financial inclusion program.
The objective of these zero balance accounts or basic savings account is to provide formal banking services to economically weaker sections of the society. Different banks offer zero balance account or basic savings account to their customers.
Savings Accounts come in various shapes and sizes. Basic Saving Bank Deposit Account or Zero Balance Account is one such type of savings account. As the name suggests, it is a basic savings account and it is easy to open and manage.
The main objective of these accounts is to promote financial inclusion among individuals by helping them to open a bank account with the least requirements.
Customers of PNB zero balance account get the prevailing PNB savings account interest rate. The interest rate is calculated on the the daily closing balance and is credited to the bank account quarterly.
| Balance | Interest rate |
| Up to Rs.50 lakhs | 3.50% |
| Above Rs.50 lakhs | 3.75% |
Mandatory document
Proof of Identity & Address
Minimum balance requirement
This account is a zero balance account and does not have any minimum balance requirement. Also, the account does not have any minimum initial deposit.
Issuance of Cheque Book
A cheque book of 10 leaves is issued without any charges. Later, cheque book charges would be applicable.
Extent of transactions
• There is no limit on the number of deposits that can be made in a month.
• Customers can withdraw up to for four times (excluding ATM transactions) without attracting any fees.
Free Debit Card
Banks also offer a free debit card to their customers. There are no annual maintenance charges on the debit card.
Nomination Facility
Customers can also avail regular nomination facilities. In any unfortunate event, their nominee will receive the accumulated funds.
To open PNB zero balance account, individuals have to visit a bank branch or Business Correspondent (Bank Mitr) to open a PNB zero balance account.
Besides this basic savings account, PNB also offers a variety of zero balance accounts such as PNB Vidyarthi SF account (for students), the PNB Pension Savings account (for pensioners), and the PNB Junior SF account (for minors). As these are zero balance accounts, there is no minimum balance requirement.
PNB Basic Saving Bank Deposit Account is a Zero Balance Account from PNB. Individuals without a savings account can open a PNB basic savings account without submitting a lot of documents. This will help individuals to avail other basic facilities as well.
