To close the PNB bank account, you should follow some steps, but before that, let us know what PNB is. Punjab National Bank, abbreviated PNB, was established in May 1894 and was the second-largest bank to be acquired by the Government of India.
Punjab National Bank, under the Ministry of Finance, Government of India, banking and financial services industry, provides its customers with critical facilities like credit cards, corporate banking, investment banking, consumer banking, insurance, loans, wealth management, etc.
However, you are ready to close your existing bank account for specific reasons. Some reasons include poor facility, unsatisfactory customer service, transaction problems, service delays or personal disputes between you and bank officials.
For this, the article is enough to explain the bank account closure process clearly.
Steps to Close Punjab National Bank Account:
You can quickly go through these steps to understand how to close savings or accounts in Punjab National Bank.
Step 1: Get the account closure form
Visit any branch of Punjab National Bank directly and grab the bank account closure form from the bank. Or you can now download the account closure form.
Step 2: Fill out the PNB Account Closure
After getting the account closure form, you will be asked to complete it carefully. The paper will ask you for the details – account number, account holder name, customer ID, and mobile number.
The form will ask you to state the reasons for closing your existing savings account and will ask you to specify how you are going to receive the amount already saved in your account. And, of course, signatures are expected at every place.
Step 3: Withdraw the balance
You can withdraw your cash in the form of a check or cash, transfer from your existing PNB account to another PNB account or transact from PNB to any other bank account of your choice.
Step 4: PNB Account Closure Form
Once you have completed all the details asked in the submission form, you should visit your home branch of Punjab National Bank and submit the completed account closure form to the bank officer. You will also be asked to surrender your current savings account passbook, debit card and cheques.
Additionally, you must provide your KYC documents to the bank officials, which means knowing your customer documents containing your ID and address proof, which you must submit along with the debit card, passbook and cheque.
Step 5: The account will be closed
After completing the abovementioned steps, the bank will take the account closure process further. You will be asked to withdraw the amount deposited in your account as you like. Don’t forget to get the receipt from the bank.
Essential Things to Remember:
Before Closing Punjab National Bank: We have concluded the points you should keep in mind while closing a PNB account to experience a smooth and hassle-free account closure process.
- You can easily withdraw the deposited amount even if it exceeds the minimum bank balance. However, it should be more than zero.
- If your bank balance is less than zero, i.e. negative, you will be asked to pay a bank maintenance fee.
- Suppose your Punjab National Bank account had linked to a bank facility. In that case, you should close that facility before closing your bank account.
- So, delete automated payments connected with your bank cards.
- You advised opening a new bank account before closing your PNB account.
- It helps you in money transactions and many other things.
- Keep a soft copy of your bank statement, as it will require various things in the future.
- To make PNB account closure easy and hassle-free, pay any dues and penalties imposed by the bank.
Note: In case of any problem during the PNB Bank account closing process, directly contact the Punjab National Bank branch; their contact number – is 1800 180 2222.
Punjab National Bank Account Closure Form:
You can easily download the Bank Account Closure Form of Punjab National Bank below the link. PNB Bank Account Closing Form Download.
Minimum Balance to Maintain in Punjab National Bank Account:
Various bank balances are required to be maintained in Punjab National Bank. Here is clearly stated for you:
- PNB in a rural area = 500/-
- PNB in any semi-urban area = 1000/-
- PNB in Urban area = 2000/-
- PNB in Metropolitan = 2000/-
If you close your bank account after depositing your first amount within 14 days, the bank will not charge any amount for completing your PNB Bank account.
However, charges are payable if the account is closed after 14 days or a few years. The costs are as follows:
Sealing SF performance within one year of opening –
- For non-individuals: Rs. 500
- For individuals: Rs. 200
Closing current account within one year of opening –
- For non-individuals: Rs. 800
- For individuals: Rs. 500
In such cases, the bank will pay you a maintenance fee, which can become problematic. Can I apply for the closure of my account without visiting the bank? Not only that. It would help if you saw the Punjab National Bank home branch to close your account.
Yes, indeed, it is. If you fail to maintain the minimum amount or fail to do so, the bank will penalize you and ask for a maintenance fee.
No. It is necessary to visit the bank in person.
It will cause you many problems. So, make sure to maintain a minimum balance in the respective account.
Not only that. A physical visit to the bank was required.
Along with KYC documents, it is crucial to carry identity proof and account closure documents.
You will be given several options to withdraw your remaining money. You can take it in cash, check or transaction.
Yes, there is a certain amount to be paid with it.