The Punjab National Bank launched a scheme for Women Empowerment in the country. This scheme aims to provide power savings account for the women. PNB Power Savings Account Scheme benefits the women to open the savings account that leads to women’s empowerment. Through this scheme, the women can open their accounts with an initial amount of 500 Rupees. It provides the free quarterly cheques consisting of 40 cheque leaves at entirely free of cost. Moreover, the scheme offers many other benefits to the women opening their power savings account.

This article explains the PNB Women Power Savings Account Scheme,Eligibility Criteria,Minimum Balance to be maintained, Online Application Form and Login Procedure.

What is PNB Power Savings Account

As discussed, the Punjab National Bank aims to empower the women in the country through the Power Savings Account Scheme.

Let us see the key highlights of the savings accounts scheme initiated by Punjab National Bank.

Women can open the initial account, depositing an amount of 500 Rupees.
The women’s minimum quarterly balance in the rural areas is 500 Rupees, and the minimum quarterly balance for the urban women is 1000 Rupees.
The penalty charges may apply for the account holders, not maintaining the minimum quarterly balance.
Every customer opening the power savings account will get 40 cheque leaves annually.
A customer is granted on free demand draft with the maximum amount of 10000 Rupees.
There will be no processing fee for House, Car, or Personal Loans.
The swipe limit for domestic shopping is 1.25 lakhs.
Every customer will havan accidental coverage between 2 lakh to 5 lakh.

How to Open PNB Women Power Savings Account Online @ pnbindia.in

Let us see the online procedure to open the Power Savings Account in the Punjab National Account. This process is for the women who wish to open their savings account under this scheme.

Visit the official portal of Punjab National Bank
It takes the online user to the Home Page below.

On the Home Page, Choose the Online Services Option.
It then expands into a dropdown.
Select the Savings Account from the list of options available.
It redirects the applicant to the below registration form.

Online Application form for PNB Savings Account @ pnbindia.in

Select the State of Residence of the applicant.
Select the city of residence of the applicant.

Punjab National Bank Power Savings Account

Select the branch where you want to open the account.
Choose the Account Type as Domestic or NRI.
Enter the Customer Name, Customer Mobile Number, and Customer Email ID.
Please tick the checkbox to seed your Aadhar Number UIDAI giving consent to use the applicant’s Aadhar details.
Please click on the declaration checkbox, as shown in the form.
Enter the Security Key in the form.
Click on the Submit Button.
On the next page, enter the TCRN Number, Captcha Code, and click on the Submit Button.

Power Savings Account Online Application Form

After submission, the applicant should visit the bank’s branch along with TCRN, Photo, ID Proof, and Address Proof in original and photocopy format.
The bank officials will verify the KYC Documents and finish the account creation process.

Note: The customer will receive a Temporary Customer Reference Number (TCRN) to the registered mobile number and email id. Please keep the number safe because you have to use it in the next step.

Women Power Savings Account Minimum Balance

The woman account holders should maintain the minimum balance in the account to avoid the banks’ penalty.

Rural women must maintain the minimum quarterly average balance (QAB) of 500 Rupees in the account
Urban resident women must hold the minimum quarterly average (QAB) balance of 1000 Rupees in the account.

Eligibility Criteria for Opening PNB Power Savings Account

Let us see the eligibility criteria that a candidate should fulfill to open the Power Savings Accounts in Punjab National Bank.

Any woman who is a permanent resident of India is eligible to open the PNB Power Savings Account.
Women can choose the sweep in/out facility before opening the account in the bank.
The women are also eligible to open the joint account under this power savings scheme. However, the first name should be of a woman.

Quick Links

Punjab National Bank Official Website

Download Punjab National Bank App for Mobile

Punjab National Form Account Opening Form PDF

PNB Power Savings Account FAQ’s

What is the objective of introducing the Power Savings Account by Punjab National Bank?

The objective of the PNB Power Savings Account scheme is to empower the women in the country.

Do the account holders attract any bank penalty if they fail to maintain the account’s minimum balance?

The women holding the bank account should maintain a minimum quarterly balance of 1000 Rupees for urban and 500 Rupees if they belong to rural areas.

Does the PNB Power Savings account cover any insurance scheme for its customers?

The Power Banking scheme provides insurance coverage between 2 Lakhs to 5 Lakhs for its account holders.

Do the account holders of the Punjab National Bank avail of any Demand Draft facility under this power savings scheme?

Yes, the PNB provides a demand draft of the maximum limit of Rupees 10000 to its customers under this scheme.

PNB Power Savings Account | Open,Online Form,Minimum Balance,Eligibility 2020