PNB customers to pay more charges for non-credit services

All charges are exclusive of GST & attract a charge of 18%, up 15% from previous tax regime charges

Come September, PNB customers will have to pay charges for depositing cash above Rs 5,000 in a non-base branch even if it is located in the same city.

Currently, the customers of Punjab National Bank (PNB) are levied charges only for depositing cash over Rs 25,000 at a non-base branch within the same city.

"It has been decided to revise the non-credit related charges (exclusive of GST) with effect from September 1, 2017, for cash deposit above Rs 5,000 at other than base branch within the same city," PNB said in a communication to customers.

A customer will have to pay Re 1 per Rs 1,000 for above Rs 5,000 cash deposit or part thereof with a minimum of Rs 25 per transaction.

At an outstation branch, cash deposit up to Rs 5,000 will be free of cost from September 1, which at present is limited for Rs 25,000.

While, for above Rs 5,000 cash deposit at an outstation branch, the bank will levy Rs 2 per Rs 1,000 or part thereof with a minimum of Rs 25 per transaction.

The bank has also revised upwards the cheque returning charges for a payment of above Rs 1 crore to Rs 2,000 for the first cheque and Rs 2,500 for subsequent bounces.

Currently, for a cheque return of above Rs 1 crore, the charges are Rs 1,000 for the first cheque and Rs 1,500 for subsequent instances.

At the same time, the bank has steeply raised the locker facility charges in metro branches for different types of lockers.

The locker rent is being raised by 25 per cent for small, medium, large and extra large sizes to Rs 1,500, Rs 3,500, Rs 5,500 and Rs 10,000, respectively, for metro branches.

Earlier such charges were Rs 1,200, Rs 2,800, Rs 4,500 and Rs 8,000, respectively.

Besides, PNB will levy a premium of 25 per cent of the locker rent in 22 identified branches, 19 of which are in Delhi, one in Gurgaon and two in Faridabad.

The Delhi branches are: Jangpura Extension, South Extension, GK II, Kalkaji, Sahkaurbasti, Krishna Nagar, Preet Vihar, Suraj Mal Vihar, Model Town, Mall Road, Patparganj, Madhuban, Vikaspuri, Sector 12A Dwarka, Sector 12 Dwarka, Dwarka, New Rajinder Nagar, Punjabi Bagh and Rajauri Garden.

Of others, Gurgaon Sector 4, Sector 37 Faridabad and Old Faridabad are the branches to attract a 25 per cent premium on locker rentals.

All the charges are exclusive of Goods and Services Tax (GST) which came into effect on July 1 this year and attract a charge of 18 per cent, up 15 per cent from previous tax regime charges.