If you or your family members have a savings account with Punjab National Bank (PNB), here’s what you need to know about recent changes.
Closure of Some Savings Accounts
Starting July 1, PNB has closed several special savings accounts. This action was taken because these accounts had been inactive for the past three years, either with zero balance or no transactions.
Reasons for Closure
PNB decided to close these accounts to prevent security risks, as inactive accounts can sometimes be exploited by fraudsters.
The closure aims to mitigate security risks associated with dormant accounts often exploited by fraudsters.
Accounts Exempt from Closure
PNB has specified that certain accounts will not be closed:
1) Accounts linked to Demat accounts or lockers
2) Accounts of students and minors
3) Accounts opened under government schemes like PMJJBY, PMSBY, SSY, APY, or Direct Benefit Transfer Scheme
4) Accounts frozen by the court, tax department, or any authority
Account Closures Effective July 1
If you or your family have savings accounts with Punjab National Bank (PNB), here’s important news for you.
PNB, the country’s second-largest government bank, has announced the closure of certain special savings accounts starting July 1.
Steps to Reactivate Your Account
If your savings account has been closed and you wish to reactivate it, visit your nearest PNB branch promptly. You will need to complete the KYC process and submit necessary documents:
1) ID proof (PAN card, Aadhar card, passport, or driving license)
2) Address proof
Act quickly to ensure your account remains active and accessible.
