PNB service charges change from Oct 1: Higher locker rents, SI fees

Charges for stop-payment and nomination revised, all new rates to apply from Oct 1

Punjab National Bank (PNB) will from October 1 charge more for various customer services, including locker rent and fees linked to standing instructions (SI) and stop-payments.

 

Locker rent hike across categories

 

Annual locker rents have been increased, depending on the size and branch location. The revised rates will apply on the next annual due date.

 

Small lockers

Rural: Rs 1,000 annual (unchanged)

 

Semi-urban: Rs 1,500 (up from Rs 1,250)

 

Urban/Metro: Rs 2,000 (unchanged)

 

Medium lockers

 

Rural: Rs 2,500 (up from Rs 2,200)

 

Semi-urban: Rs 3,000 (up from Rs 2,500)

 

Urban/Metro: Rs 4,000 (up from Rs 3,500)

 

 

Large lockers

 

Rural: Rs 4,000 (up from Rs 2,500)

 

Semi-urban: Rs 5,000 (up from Rs 3,000)

 

Urban: Rs 6,500 (up from Rs 5,500)

 

Metro: Rs 7,000 (up from Rs 5,500)

 

Very large lockers

 

Rural: Rs 6,000 (unchanged)

 

Semi-urban: Rs 7,000 (up from Rs 6,000)

 

Urban: Rs 8,500 (up from Rs 8,000)

 

Metro: Rs 9,000 (up from Rs 8,000)

 

Extra-large lockers

 

Rural: Rs 10,000 (unchanged)

 

Semi-urban: Rs 10,500 (up from Rs 10,000)

 

Urban: Rs 11,000 (up from Rs 10,000)

 

Metro: Rs 12,000 (up from Rs 10,000)

 

PNB has revised one-time registration charges for lockers. Rural and semi-urban branches will continue to charge Rs 200. In urban and metro branches, the fee will be Rs 500 for small and medium lockers, and Rs 1,000 for large and above.

 

Stop payment charges

For stop-payment instructions in savings accounts, the charge will remain Rs 100 per instrument. However, for a series of five or more cheques, the fee will rise to Rs 500 from the existing Rs 300 for three or more cheques.

Standing instruction failure fee

PNB charges Rs 100 for each failed standing instruction (SI) transaction along with remittance and postage costs. From October, this will be replaced by a flat monthly fee of Rs 100 plus GST, regardless of the number of failed transactions in that month. The bank will allow a maximum of three SI transactions for products such as term loans or recurring deposits.

 

Nomination charges

First-time nomination requests will continue to be free. Thereafter, a fee of Rs 100 per request will apply, except in cases where the nominee has passed away. Such changes will be handled at the branch upon submission of the death certificate.