If you are employed, you will have a salary account. The bank offers many facilities with this salary account. In this episode, the offer of Punjab National Bank (PNB) is attractive. PNB is also providing the facility of overdraft and sweep along with personal accident insurance on the opening of salary account. According to the information given on the bank’s website, customers of PNB MySalary Account will get the facility of overdraft up to Rs 3 lakh as well as Accidental cover up to Rs 20 lakh. Apart from this, you can get up to 100 percent discount in documentation and processing fees on taking a loan. Under this, the bank has divided the four categories of Silver, Gold, Premium and Platinum to the personnel opening the account, which will be determined on the basis of salary. Overdrafts and covers are prescribed separately for each category.
Who can open an account
Under this special facility of PNB, regular workers working in Central / State Government / PSUs / Government-Semi-Government Corporations / NNC’s / Famous Institutions, Corporate or Educational Institutions can open accounts. There is no requirement to maintain any minimum balance for the salary account and it can be started from zero balance as well. For the facilities that the bank is providing under its special feature, it is necessary that credit should be credited to the salary account for three consecutive months in a calendar quarter.
Features of PNB MySalary Account
- Four categories of accounts: Silver- 10 thousand-25 thousand monthly salary
Gold- Monthly salary from Rs 25,001 to Rs 75 thousand
Premium- Monthly salary of Rs 75,001 to Rs 1.5 lakh
Platinum 1.5 lakhs monthly salary
- Overdraft: 50 thousand rupees in Silver category, Rs 1.5 lakhs in Gold, Rs 2.25 lakhs in premium and account holders of Platinum category can overdraft up to Rs 3 lakhs.
- Sweep facility: Under this scheme, sweep facility is also provided in open account. Under this, TDR / STDR (Term Deposit / Special Term Deposit) for 7000 rupees automatically in case of an amount of more than Rs 20 thousand (minimum limit of Rs 20 thousand, determined by threshold limit account holders) or more in multiples of Rs. Will be done. The interest rate of fixed deposit will be available on this.
- Personal Accident Insurance Cover: The bank will provide an insurance cover of Rs 18 lakh and an insurance cover of Rs 2 lakh will be available for using a debit card. In this way, account holders of all categories will get a personal accident cover of Rs 20 lakh. For this cover, there should be a credit to the salary account in two consecutive months in the calendar quarter.
- Demat Account: 50% discount on first-year AMC (Account Maintenance Charge) for Silver and Gold category account holders and no charge for the remaining two categories.
- Free Cheque Leaves: 40 for Silver, 50 for Gold, 100 for Premium annually. Unlimited for Platinum.
- Debit Card AMC: In the Silver category, Rupees Classic / Platinum card will be available on which charge will be payable, but other category account holders will get Rupe Platinum Card on which no charge will be paid.
- Housing / Car / Personal Loan Documentation and Processing Charges: 50 percent discount for Silver and Gold category and 100 percent discount in Premium and Platinum. For this, it is mandatory to have regular salary credit for at least three consecutive months.
- First Year Locker Rent: For small lockers, 25 percent relaxation in silver category, 50 percent in gold and 75 percent discount in premium. 100% discount for small / medium sized lockers to Platinum category account holders.
- Credit Card: There is no charge for the issue but AMC charge will be payable.