PNB revises QAB, minimum balance charges for current account holders

Punjab National Bank (PNB) has decided to revise the minimum balance charges (exclusive of service tax) for non maintenance of QAB (Quarterly Average Balance) in current and PNB smart banking account and QAB in current account. The revised tariff will be effective from 01/10/2016.

Punjab National Bank will levy heavy fine from October on current account holders for non maintenance of quarterly average balance as per revised tariff.

Revision in QAB Charges in Current and PNB Smart Banking Current Account
Revision in QAB Charges in Current and PNB Smart Banking Current Account

The revised tariff is applicable on current general accounts and PNB smart banking accounts with effective from 01 october 2016.

What are the revised minimum balance charges for PNB Smart Banking Current Account :

For PNB Smart Banking Current Account, silver account holders with requirement to maintain Rs 100000/- as QAB, charges will be hiked to Rs 500/- per quarter from existing Rs 150/-.

For Gold account holders with Rs 200000/- as QAB, charges will be hiked to Rs. 1000 per quarter from existing Rs. 600/-.

PNB Smart Banking Current Account - Revised Non Maintenance of QAB charges
PNB Smart Banking Current Account – Revised Non Maintenance of QAB charges

For Diamond account holders with Rs. 500000/- QAB, charges will be hiked to Rs. 2000/- per quarter from existing Rs. 1500/-.

Charges for platinum account holders (QAB – Rs 10 Lakh) will be hiked to Rs. 4000/- per quarter from existing Rs. 3000/-.

Revised QAB and non maintenance charges for Current General Accounts :

For current general accounts, bank has revised both initial deposit amount and QAB as well for rural, semi urban and urban areas. Charges for non maintenance of QAB are also increased.

Under the revised tariff, semi urban account holders will be required to maintain Rs. 5000 every quarter against existing Rs. 1000. Customer will be charged Rs. 500 for non maintenance of QAB against existing Rs. 300 in semi urban sectors.

PNB Current General Account - Revised QAB and Minimum Balance Charges for Rural Urban areas
PNB Current General Account – Revised QAB and Minimum Balance Charges for Rural Urban areas

For rural account holders, the minimum requirement has been increased to Rs. 2500 from existing Rs. 1000. Non maintenance of QAB charges are also revised to Rs. 400 from existing Rs. 200.

In urban areas, bank will charges Rs 1000 per quarter against QAB requirement of Rs 10000, which is Rs 5000 at present.

The required QAB amount differs from bank to bank, as per their policy.

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