India’s main public sector lender, the Punjab National Bank (PNB), has announced that it is set to raise fees for various non-banking services from this month, including the number of free transactions each year. on various segments. The new tariffs will take effect from May 29 this year, PNB said in a recent notification. The PNB also raised its benchmark external lending rate by 0.40% to 6.90%, which is expected to come into effect next month. ,
The various fee hikes and transaction limits include the issue of multi-city checkbooks, the number of free transactions in savings and other accounts, and the proposed revision of locker rental fees, among others. The move comes a week after the RBI hiked its repo rates by 40 basis points.
Here are the revised PNB service fees that will come into effect from May 29 this year
Savings account transaction limit: While the transaction limit of the PNB savings account has been increased, the fees after exceeding the limit have also been increased. Previously, the lender charged Rs 2 per transaction in a year, after the free limit of 40 transactions in a year was exceeded. Now it will charge Rs 10 per debit transaction if you cross the new limit of 50 debit transactions in a fiscal year.
Check Return Fee: The lender has proposed a new slab for the one-way return fee. From May 29, the bank will charge Rs 250 for outgoing transactions of amounts above Rs 1 lakh and up to Rs 10 lakh. For transactions above Rs 10 lakh, Rs 500 per transaction will be levied. The same will apply to external postage costs, plus personal expenses.
Issuance of the check book: PNB said it would reduce free checkbook sheets with savings accounts from 25 to 20.
Locker Rental Penalty Fee: The bank will charge an annual rent of 25% as a penalty for a delay of up to one year. For delays of more than one year and up to three years, a penalty of 50% of the annual rent will be levied, while for delays of more than three years, the bank will force the locker.
Encourage the payment of the advance rent of the locker for 5 years: Below is the “proposed rent slab in the event that the advance locker rent for a period of five years is deposited by the locker holder(s)”
Note that the above rent bracket excludes the 25% premium at identified Metro locations. In the event that the locker holder returns the locker before the expiration of the five-year period for which the advance rent has been paid, the locker rent based on the annual card rate will be charged.
Fees for current accounts, cash credit, overdraft and others: Based on an amount of up to Rs 1 lakh per day, the charge will be free. For transactions above Rs 1 lakh, Re 1 per thousand will be charged, subject to a minimum of Rs 10 and a maximum of Rs 30,000.
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