India’s main public sector lender Punjab Nationwide Financial institution (PNB) has introduced that it’s set to hike the charges on numerous non-banking associated providers from this month, together with the variety of free transactions every year throughout numerous segments. The brand new charges will come into impact from Could 29 this yr, PNB has stated in a current notification. PNB has additionally elevated its exterior benchmark linked lending fee by 0.40 per cent to six.90 per cent, that’s set to come back into impact subsequent month. ,
The varied cost hikes and transaction limits embrace the difficulty of multi-city cheque books, variety of free transactions in financial savings and different accounts, and proposal for revised locker hire costs amongst others. The transfer comes per week after the RBI hiked its repo charges by 40 foundation factors.
Listed below are the revised PNB service costs that can come into impact from Could 29 this yr
Financial savings Account Transaction Restrict: Whereas the PNB financial savings account transaction restrict has been hiked, the fees after exceeding the restrict has additionally been hiked. Earlier, the lender used to cost Rs 2 per transaction in a yr, after the free restrict of 40 transactions in a monetary yr was crossed. Now, it would cost Rs 10 per debit transaction in the event you cross the brand new restrict of fifty debit transactions in a monetary yr.
Cheque Returning Expenses: The lender has proposed a brand new slab for outward returning costs. From Could 29, the financial institution will cost Rs 250 for outward transactions of quantities over Rs 1 lakh and as much as Rs 10 lakh. For transactions above Rs 10 lakh, Rs 500 per transaction will probably be levied. The identical will go for outstation costs, plus out of pocket bills.
Cheque Guide Issuance: PNB has stated that it’s going to cut back the free cheque e book leaves with financial savings accounts from 25 to twenty.
Expenses for Locker Lease Penalty: The financial institution will cost 25 per cent annual hire as penalty for a delay as much as one yr. For delays multiple yr and as much as three years, a penalty of fifty per cent of annual hire will probably be levied, whereas for delays greater than three years the financial institution will break open the locker.
Incentivise Fee of Advance Locker Lease for five years: Following are the “Proposed Lease Slab in case Advance Locker hire for a interval of 5 yr is deposited by Locker Holder(s)”
It should be famous that the above hire slab is excluding premium of 25% in recognized Metro branches. In case Locker holder surrenders the locker earlier than expiry of interval of 5 yr for which advance hire has been paid, then locker hire on annual card fee foundation shall be charged.
Expenses for Present, Money Credit score, Overdraft and Different Accounts: Based mostly on an quantity of As much as Rs 1 lakh per day, the fees will probably be free. For transactions above Rs 1 lakh, Re 1 per thousand will probably be charged, topic to minimal Rs 10 and most Rs 30,000.
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