PNB Zero Balance Account is a type of savings account offered by Punjab National Bank, one of the largest public sector banks in India, which allows customers to maintain a zero balance in their account.
This account is primarily targeted towards customers who may not be able to maintain a minimum balance requirement due to financial constraints or other reasons.
PNB Zero Balance Account can be opened by individuals, including resident Indians, non-resident Indians (NRIs), and minors (with a guardian), as well as Hindu Undivided Families (HUFs).
There is no requirement to maintain any minimum balance in the PNB Zero Balance Account, making it a convenient option for those who do not want to worry about maintaining a specific balance.
PNB Zero Balance Account comes with basic banking facilities such as deposit and withdrawal of money, fund transfers, and bill payments, among others.
Customers can also avail of a debit card with the PNB Zero Balance Account, which can be used for ATM withdrawals, point of sale (POS) transactions, and online payments.
PNB Zero Balance Account may have some limitations, such as restrictions on the number of transactions, withdrawal limits, and features, as compared to regular savings accounts offered by the bank.
Customers can access their PNB Zero Balance Account through various channels, including PNB branches, ATMs, mobile banking, internet banking, and phone banking.
PNB Zero Balance Account may also offer additional benefits such as interest on savings deposits, accidental insurance coverage, and access to other banking products and services, depending on the specific variant or type of Zero Balance Account offered by the bank.
Customers should carefully review the terms and conditions, fees, and charges associated with the PNB Zero Balance Account, and compare it with other savings account options, to determine if it meets their banking needs and requirements.