India’s main public sector lender Punjab National Bank (PNB) has introduced that it’s set to hike the charges on varied non-banking associated providers from this month, together with the variety of free transactions every year throughout varied segments. The new charges will come into impact from May 29 this 12 months, PNB has mentioned in a latest 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 embody the problem of multi-city cheque books, variety of free transactions in financial savings and different accounts, and proposal for revised locker lease costs amongst others. The transfer comes per week after the RBI hiked its repo charges by 40 foundation factors.
Here are the revised PNB service costs that may come into impact from May 29 this 12 months
Savings Account Transaction Limit: While 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 12 months, after the free restrict of 40 transactions in a monetary 12 months was crossed. Now, it can cost Rs 10 per debit transaction when you cross the brand new restrict of fifty debit transactions in a monetary 12 months.
Cheque Returning Charges: The lender has proposed a brand new slab for outward returning costs. From May 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 shall be levied. The identical will go for outstation costs, plus out of pocket bills.
Cheque Book Issuance: PNB has mentioned that it’s going to scale back the free cheque guide leaves with financial savings accounts from 25 to twenty.
Charges for Locker Rent Penalty: The financial institution will cost 25 per cent annual lease as penalty for a delay as much as one 12 months. For delays multiple 12 months and as much as three years, a penalty of fifty per cent of annual lease shall be levied, whereas for delays greater than three years the financial institution will break open the locker.
Incentivise Payment of Advance Locker Rent for 5 years: Following are the “Proposed Rent Slab in case Advance Locker lease for a interval of 5 12 months is deposited by Locker Holder(s)”
It must be noted that the above rent slab is excluding premium of 25% in identified Metro branches. In case Locker holder surrenders the locker before expiry of period of five year for which advance rent has been paid, then locker rent on annual card rate basis shall be charged.
Charges for Current, Cash Credit, Overdraft and Other Accounts: Based on an amount of Up to Rs 1 lakh per day, the charges will be free. For transactions above Rs 1 lakh, Re 1 per thousand will be charged, subject to minimum Rs 10 and maximum Rs 30,000.
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