Punjab National Bank Savings Account 2026
PNB pays 2.50% on savings balances of ₹1 lakh and up to 4.25% on larger slabs. No minimum-balance charges on standard accounts. Public-sector bank; merged with Oriental Bank of Commerce and United Bank of India in 2020.
Rates effective 1 Oct 2025 · Checked 27 September 2026PNB savings account at a glance
PNB savings account interest rates
| Daily balance | Interest rate (p.a.) |
|---|---|
| Up to ₹100 crore | 2.50% |
| ₹100 crore to ₹500 crore | 2.70% |
| ₹500 crore to ₹1,000 crore | 3.60% |
| ₹1,000 crore to ₹2,000 crore | 3.75% |
| Above ₹2,000 crore | 4.25% |
Source: www.pnb.bank.in, effective 1 Oct 2025. Banks can revise savings rates at any time.
How much interest will you earn?
| Average balance | Effective rate | Interest / year | Per month | Extra in a 1-yr FD @ 6.5% |
|---|---|---|---|---|
| ₹50,000 | 2.50% | ₹1,250 | ₹104 | ₹2,080 |
| ₹1,00,000 | 2.50% | ₹2,500 | ₹208 | ₹4,160 |
| ₹5,00,000 | 2.50% | ₹12,500 | ₹1,042 | ₹20,801 |
| ₹10,00,000 | 2.50% | ₹25,000 | ₹2,083 | ₹41,602 |
| ₹25,00,000 | 2.50% | ₹62,500 | ₹5,208 | ₹1,04,004 |
Before tax; assumes a constant balance. Consider a sweep-in FD for money you do not need every day.
Minimum balance & charges
| Branch / item | PNB regular savings |
|---|---|
| Metro / urban | ~₹2,000 (urban, earlier) |
| Semi-urban | — |
| Rural | ~₹500 (earlier) |
| Non-maintenance charge | No penal charges for non-maintenance of MAB across all savings schemes from 1 Jul 2025 |
| Zero-balance option | Basic Savings Bank Deposit Account (BSBDA) — no minimum balance |
RBI rules: the bank must notify you of a shortfall and give one month to restore it; charges must be proportional to the shortfall and cannot make the balance negative. Compare minimum balance across banks →
PNB savings account types
Standard features
- Debit card, UPI, net and mobile banking, IMPS/NEFT/RTGS
- Nomination for up to 4 nominees (from 1 Nov 2025)
- Auto-sweep into FDs available at most banks
- Account becomes inoperative after 2 years without customer-induced transactions — reactivation is free
Savings interest calculator
Tax on savings interest
| You are | Deduction | TDS |
|---|---|---|
| Below 60, old regime | Sec 80TTA — up to ₹10,000 of savings-account interest deductible | No TDS on savings interest |
| 60+, old regime | Sec 80TTB — up to ₹50,000 of interest from savings + FD + RD deductible | No TDS on savings interest; ₹1 lakh threshold on FD/RD |
| Any age, new regime | No 80TTA/80TTB; interest taxed at slab rate (rebate makes income up to ₹12 lakh tax-free) | No TDS on savings interest |
How to open a PNB savings account
- OnlineApply on PNB’s website or app with PAN and Aadhaar; complete video KYC.
- BranchFill the account-opening form with KYC documents and a photograph.
- Nominees & servicesAdd nominees; activate debit card, net banking and UPI.
Documents
- PAN (or Form 60)
- Aadhaar / passport / voter ID / driving licence
- Photograph (branch)
Compare with other banks
| Bank | On ₹1 lakh | On ₹10 lakh | Highest slab | Min. balance (metro) |
|---|---|---|---|---|
| IDFC FIRST Bank | 2.50% | 5.65% | 7.00% | ₹10,000 or ₹25,000 AMB (by variant) |
| DBS Bank India | 2.50% | 5.00% | 5.00% | ₹10,000 AMB (digibank Savings) |
| Bandhan Bank | 2.70% | 4.85% | 6.00% | ₹2,000 (Standard SB, from 1 Feb 2026; earlier ₹5,000) |
| RBL Bank | 3.00% | 4.00% | 6.00% | — |
| IndusInd Bank | 2.50% | 3.00% | 7.05% | — |
| Karnataka Bank | 2.50% | 2.75% | 4.00% | — |
| IDBI Bank | 2.50% | 2.60% | 3.00% | ₹10,000 (Advantage SB, per ClearTax) |
| State Bank of India | 2.50% | 2.50% | 2.50% | Nil (MAB requirement waived since Mar 2020) |
| Punjab National Bank | 2.50% | 2.50% | 4.25% | ~₹2,000 (urban, earlier) |
Frequently asked questions
What is the savings account interest rate at Punjab National Bank?
PNB pays 2.50% on a ₹1 lakh balance and up to 4.25% on higher slabs (rates effective 1 Oct 2025). Interest is calculated on the daily closing balance.
What is the minimum balance for a PNB savings account?
PNB waived minimum-balance charges from 1 Jul 2025: No penal charges for non-maintenance of MAB across all savings schemes.
What is the charge for not maintaining minimum balance?
PNB: No penal charges for non-maintenance of MAB across all savings schemes from 1 Jul 2025.
How much interest will ₹10 lakh earn in a PNB savings account?
About ₹25,000 a year (2.50%), before tax.
Is savings account interest taxable?
Yes. There is no TDS, but the interest is taxable. In the old regime you can deduct up to ₹10,000 (80TTA) or ₹50,000 if you are 60+ (80TTB, including FD/RD interest).
Is my money safe in Punjab National Bank?
Deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.
Compiled from the bank’s published rates and schedule of charges and reputable news/aggregator sources for comparison only. FinancePortal is not affiliated with Punjab National Bank. Confirm current terms with the bank.