Chapter 3

CHAPTER 3
RETAIL BANKING - DEPOSIT PRODUCTS & SERVICES &

DEPOSITORY SERVICES, ONLINE TRADING, 3RD PARTY PRODUCTS
(INSURANCE, MUTUAL FUND), GOLD COIN BUSINESS
RETAIL DEPOSIT PRODUCTS
PNB Mitra- SB A/c for Financial
Inclusion
Basic Saving Bank Deposit Account
(BSBDA)
Saving Deposit Account
PNB JUNIOR-SB A/c for Minors
Mini Deposit Scheme
PNB Vidyarthi Savings Fund Account
PNB Prudent Sweep Scheme
PNB Rakshak Sweep & Overdraft
Scheme
PNB Shikshak Overdraft and sweep
Scheme
PNB Total Freedom Account
Premium Saving Account
Family Suraksha Bachat
Current, Overdraft & Cash Credit
Accounts
PNB Smart Banking Current
Account
PNB Suvidha Pull Sweep Scheme
PNB Flexi RD Scheme
Recurring Deposit Scheme
PNB Lakhpati Scheme A
PNB Lakhpati Scheme B
PNB Special Recurring Deposit
Scheme
Multi Benefit Term Deposit
PNB DUGANA Deposit Scheme
Varshik
Aay
Yojana
Scheme
Reintroduced
Ordinary Fixed Deposit Scheme
Reintroduced
Retail Deposit:Page1of115
Anupam Term Deposit

Sugam Term Deposit
NRE Sugam Term Deposit Scheme
NRO Sugam Term Deposit Scheme
PNB Tax Saver-Fixed Deposit Scheme
Senior Citizen Savings Scheme, 2004
PNB Growth Fixed Deposit Scheme
PNB Bulk Fixed Deposit Scheme
PNB Floating Rate Fixed Deposit
Scheme
MIBOR linked Notice Deposit Scheme
Fixed Deposit Scheme For Road
Accident Victims
Balika Shiksha Fixed Deposit Scheme(National Scheme of incentive to Girls
for Secondary Education)
Capital Gains Account Scheme 1988
Prospective Senior Citizen Scheme
Special Term Deposit Scheme
PNB Saksham Recurring Withdrawal
Scheme
PNB Saksham Recurring Withdrawal
Scheme- Moratorium period plan
PNB Saksham NRIs / PIOs Scheme
Auto Renewal
Over Due Term Deposits
Sukanya Samriddhi Account
Depository Services
On-line Trading
Mutual Fund
Insurance
1. PNB MITRA SAVINGS FUND A/C FOR FINANCIAL INCLUSION

(No-Frills Savings Bank Account for Financial Inclusion of Poorest/Deserving Sections of Society
- No requirement as regard Initial Deposit and Minimum Balance)
Eligibility
KYC
Permitted extent of
transactions/operations
OD Facility
RBD CIR. NO. 9 & 15
DATED 12.05.2009
Other
Individual (single or jointly).

Minor of age 10 years and above & minors under natural/legal
guardianship.
An illiterate/visually impaired person is also eligible.
Limited KYC norms. Identity & Address evidence can be a
Declaration by the customer duly attested by local authorities,
members of SHGs, State/Central Govt. Employees, Advocates,
Doctors, Teachers Notary Public etc.
Photograph is must.
Full KYC requirements for opening a normal Saving Fund account to be
completed if any of the following condition is breached.
Balance in the a/c (taken together with all other a/c with our bank)
not to exceed Rs. 50000/ Total Withdrawals during a month does not exceed Rs. 10,000/ Total credit not to exceed Rs. 1,00,000/50 charge-free transactions (including ATM withdrawals) permitted in a
financial year. Thereafter a charge of Rs. 10/- per transaction.
O/D facility of Rs. 100/- and upto Rs. 500/- would be granted ab-initio
through Bio-metric cards by Business Correspondents.
The overdraft to be allowed to FI customers may be Need Based.
The maximum ceiling of overdraft shall be Rs. 2500/- per borrower
irrespective of the area. Renewal once in three years Annual review.
OD facility at BPLR. OD to be adjusted at least once in a quarter,
else shall be recalled. Min. intt. Rs. 5/- per quarter.
Undertaking required that not availed from other bank branch.
Minors are not eligible to avail overdraft facility.
No cheque book to be issued under the Scheme.
Debit Card/ATM Card/ Internet banking facility allowed.
Closure of all other a/c maintained with our bank/other banks within
60 days of the opening of this a/c.
Area of operation would be confined in the radius of 20 kms. of the
branch where the account is to be opened.
All normal rules relating to nomination would also be applicable in
this account.
AOF PNB 1101; and for IT enabled Biometric Smart Card account
PNB 1161.
FOR SMALL A/C : REFER FID CIRCULAR NO. 4/2014 dated.
3/3/2014 AND 26/2014 DT. 31/10/2014
2. BASIC SAVING BANK DEPOSIT ACCOUNT (BSBDA)

( RMD Consolidated Cir No.70/2014 DT. 22.08.2014, RMD Cir 114/2014 DT 20.11.2014 , Scheme
Code: SBBDA )
The Saving Fund account may be opened by an INDIVIDUAL singly or jointly,
Eligibility
minors of the age of 10 years and above, minors under natural/legal guardianship. An
illiterate or a visually impaired person is also eligible to open Saving Fund account
under the scheme with usual safeguards.
This
account shall not have the requirement of any minimum balance/initial deposit
Minimum
and can be opened with ZERO.
Balance
The
account would be subjected to RBI instructions on Know Your Customer (KYC)/
KYC
requirement Anti Money Laundering (AML) for opening of bank accounts issued from time to time.
Such accounts can be opened only when a customer is KYC compliant and hence such
customers should not be asked to submit KYC documents again. (RMD Cir.:10/2015)
A cheque book of 20 leaves may be issued (at the discretion of the branch incumbent)
Cheque
free of cost in a year. Thereafter, normal cheque book charges would be applicable.
Book
Extent
of
There will be no limit on the number of deposits that can be made in a month.
transaction /
At Branch level, Account holder is allowed a maximum of 4 withdrawals in a
Operation
month; however, the number of ATM withdrawals will be excluded in overall
limit of 4 withdrawals in a month. The customers of BSBDA will be able to
withdraw the amount through ATM as per existing ATM guidelines i.e. free at
PNB ATM and charges at other Banks ATM over and above free monthly
ATM transactions permitted.
Debit Card ATM-cum-Debit Card is permitted without any charge. However, annual maintenance
charge shall be recovered.
ATM Card
Nomination All normal rules relating to nomination would also be applicable in this account.
Capturing of Biometric Details in Basic Saving Bank Deposit Accounts (BSBDA) to
Biometric
enable online transaction at Business Correspondent (BC) locations. Detailed
Details
operational guidelines given in FI Division Cir. No.11 dated 22.08.2013 which interalia provide that entering of biometric detail in an account makes it feasible to transact
at BC locations.
Holder of Basic Saving Bank Deposit Account will not be eligible for opening
Other
any other saving bank deposit account in the same bank. BSBDA holder will be
Terms and
required to close all existing saving fund account in our Bank within 30 days
Conditions
from the date of opening of the account.
The services available in the account will include deposit and withdrawal of cash
at bank branch as well as ATMs, receipt/ credit of money through electronic
payment channel or by means of deposit/collection of cheques drawn by
Central/State Government agencies and department.
No charge will be levied for non-operation/activation of in-operative of Basic
Saving Bank Deposit Account.
The existing basic banking no frill accounts will be converted to Basic Savings
Bank Deposit Account (PNB Zero Balance Account) after completing KYC
norms.
3. SAVINGS DEPOSIT ACCOUNTS

INTRODUCTION: Savings Deposit has been defined by the IBA in its Model Policy on Bank
Deposits as a form of demand deposit withdraw able by cheque, which is subject to restrictions as to
the number of withdrawals as also the amounts of withdrawals permitted by the Bank during any
specified period. Interest is calculated on daily balance basis and credited half yearly.
ELIGIBILITY: Can be opened by an Individual (singly or jointly); in the name of a Minor by his/her
guardian, who shall be required to give in writing, the date of birth of the minor; by a minor of the age
of 10 years or above on his/her furnishing a satisfactory proof of age. On attaining majority, the
erstwhile minor should confirm the balance in his/her account and if the account is operated by the
natural guardian / guardian, fresh specimen signature of erstwhile minor duly verified by the natural
guardian would be obtained and kept on record for all operational purposes. Savings Fund Account
can also be opened by a minor jointly with natural guardian or with mother as the guardian. By two
or more persons, in their joint names, payable to either or any one or more or all of them or survivor
or survivors, former or survivor(s). By a Society, Club, Association, Trust, Charitable/Educational
Institution, provided it is not a trading or business concern. By the Societies/Institutions/Associations,
which are not liable to pay Income Tax under the Income Tax Act, 1961.
NON-ELIGIBLE: Banks are prohibited from opening Savings Accounts in the name of Govt.
Departments/ Bodies depending upon budgetary allocations for performance of their
functions/Municipal Corporations or Municipal Committees/Panchayat Samitis/ State Housing
Boards/ Water and Sewerage/Drainage Boards/State Textbook Publishing Corporations/Societies/
Metropolitan Development Authority/State/ District Level Housing Co-operative Societies etc. or any
political party or any trading, business or professional concern, whether such concern is a proprietary
or a partnership firm or a company or an association.
EXCEPTION TO NON-ELIGIBILITY I.E. WHO ARE ELIGIBLE: The above prohibition will
not apply in case of Organisations/ Agencies: Primary Co-operative Credit Society which is being
financed by the Banks, Khadi & Village Industries, Agriculture Produce Market Committee, Societies
registered under the Societies Registration Act 1860 or any other corresponding law in force in State
or a Union Territory, Companies governed by the Companies Act, 1956 which have been licensed by
the Central Govt. under Section 25 of the said Act or under the corresponding provision in the Indian
Companies Act, 1913 and permitted, not to add to their names the word 'Limited' or the words 'Private
Ltd.' In terms of the relevant provisions of Companies Act . Institutions other than those mentioned in
clause 22 (n) (i) above and whose entire income is exempt from payment of income tax under the
Income Tax Act, 1961, Government departments/bodies/agencies in respect of grants/subsidies
released for implementation of various programmes/schemes sponsored by Central Government/State
Government subject to production of an authorisation from the respective Central / State Government
departments to open savings bank account. Development of Women and Children in Rural Areas
(DWCRA). Self-Help Groups (SHGs), registered or unregistered, which are engaged in promoting the
saving habits among their members. Farmers' Clubs-Vikas Volunteer Vahini- (VVV)
Institutions/Associations and societies, which are not liable to pay income tax, under the Income Tax
Act, 1961, will be eligible for opening Savings Accounts. Before opening such accounts, incumbent
incharge should obtain copies of bye laws of the institution/association/society to satisfy themselves
that the institution is exempt from payment of income tax.
Applications to open Savings Fund Accounts: Can be taken duly filled and signed in the presence
of an authorised officer on Form No. PNB 1084(A), PNB 1101 (PNB Mitra) & PNB 1161 (IT enabled
Smart Card Based), with Annexures, in respect of individuals and joint accounts, as well as minors.
Annexure on PNB-984 will be obtained additionally in respect of illiterate depositors. Appropriate
Account Opening forms along with other necessary documents will be taken in respect of other types
of account holders viz. Clubs, Societies, Trusts etc. Form-60/61or PAN number as the case may be,
has to be obtained.
Quarterly Average Balance: In Savings Deposit Accounts prescribed minimum QAB that a
depositor has to maintain, failing which, penalty can be imposed.
Minimum Deposit Amount: In a Savings Account minimum Rs.50/- can be deposited except
under specified schemes where no minimum deposit is stipulated.
Number of Withdrawals: Max. no. of withdrawals is 50 per half year whether by cheque or
otherwise. A service charge per withdrawal in excess of the limit prescribed shall be levied as per
extant guidelines.
Withdrawal Slip to Withdraw: In the base branch on presentment of Withdrawal Slip by the
account holder personally, he/she may be permitted withdrawal of unlimited amount, subject to
observance of usual safeguards, viz. production of pass book, verification of signatures, availability
of balance etc. Cash payment against tender of Withdrawal Slip shall not be permitted to third
party, even if the same is accompanied with pass book.
Issue of Cheque Books in the New Accounts: One of the requirements while opening New
Accounts is that the Bank should send a letter by post both to the customer and the introducer to
seek their confirmation for opening the account and giving introduction respectively. Cheque
Books may be issued after receipt of confirmation from both. The very purpose of the same is to
ensure that the addresses given by them are genuine. These formalities in opening the account are
required to be observed meticulously.
Charges for Closure: No charges shall be levied for providing the facility of switching / closure of
account within 14 days. If a depositor closes his account, after trial period of 14 days but within 12
months of its opening, the prescribed charges shall be recovered.
Notice for Closure: The bank may close Savings Account, without assigning any reason, after
giving one month notice in writing to the depositor.
Closing Account by Customer: When a depositor wishes to close his savings account, interest
due will be applied by debit to the 'interest accrued on savings accounts. (Or interest paid on
savings accounts, if necessary), and the balance of the account will be paid to the depositor, against
the usual withdrawal slip. The relative passbook will be ruled off, marked "Account closed", in red
ink, and returned to the customer. If an account is closed, within a year, of its opening except those
closed on account of death of account holder, charges as prescribed by the Head Office, from time
to time, will be levied.
Transfer of Account: A Saving Account may be transferred free of charge from one branch to
another branch of the bank on written application from the depositor.
Inoperative Accounts: Accounts, which have not been operated for two years, will be transferred
to inoperative accounts (others) head. On the 1st of March each year, such inoperative accounts, as
have not been operated for a further period of eight years or more, will be further transferred to
Inoperative Accounts for 10 years or above.
4. PNB JUNIOR SAVING FUND ACCOUNT FOR MINORS

(RMD Cir. No. : 86 & 93/2014 - CBS CODE : SBMIN)
To offer an attractive Saving Fund a/c to Minor
PURPOSE
Umder Guardian (U/G) and Self Operated account by Minors
Type of A/c
of 10 years & above (age proof).
Fully Compliance.
KYC
ZERO & No. Q.A.B. maintenance required
Initial Deposit & Q.A.B.
CHEQUE LEAVS : 20 Cheque Leaves per Half Year
CONCESSION / FREE
NEFT CHARGES : Free upto Rs.10000/- Per Day
FACILITIES
ISSUE OF DD: Free for School/College Fee.
ATM CARD : Rupay Card can be issed to minors above 10
years of age & per day Max. withdrawal of Rs.5000/- from
PNB ATMS.
IBS / MOBILE BANKING : Only view facility in Self
operated a/cs by Minors.
FREE PIGGY BANK (GULLAK) : On request
No Overdraft facility.
ON
ATTAINING
MAJORITY
REVISED
INSTRUCTIONS / SIGNATURES PHOTO & A/C TO BE
CONVERTED INTO SBGEN.
5. MINI DEPOSIT SCHEME (RMD CIR. NO.55 & 75 / 2013 & 39/2014)
Applicablity
Eligibility
Minimum Amount
Ceiling
Menu Option
Scheme Code :
Period Of Deposit
Loan & Intt Rate
Wages To Collector
General
Only at branches where Mini Deposit Scheme is in operation.

All except Corporate clients
Rs. 10/- & in multiples thereof
Rs. 5000/- per month per a/c.
MDNOAAC
RDMDN
12/36/60 month (not changeable)
Loan facility is available at Base Rate
Rs.750/- Min. against Minimum deposit of Rs.7500/- p.m. & no
commission if depositor directly deposits in Bank.
Cheques not allowed for Deposit. Payment is made on due date
otherwise Principal + Intt. Shall be transferred to Overdue Mini
Deposits A/c.
6. PNB VIDYARTHI SAVING FUND ACCOUNT

(RMD Consolidated Cir. 72/2014 dated 27.08.2014)
I. Self operated accounts:
Eligibility
may be opened in the name of student who have attained the age of 10
years and above, studying at a recognized education institution.
II. Account of a child under guardianship :
a) The account of child who is admitted at a recognized education
institution may be opened irrespective of age of the child.
b) No Debit Card/ ATM Card would be issued for this account.
c) For availing Over Draft facility under this scheme, necessary
documentation shall be executed by the guardian.
NIL
Initial Deposit Amount/
QAB/Minimum
Balance Required
On the request of the student with the UNDERTAKING TO PAY/
Overdraft
CONSENT LETTER from earning parents/natural guardian/local guardian
of student. In the first year of opening of account, the facility would be
available upto a maximum limit of Rs. 5,000/-. Subsequent to the
satisfactory conduct of the account, in second year it could be enhanced
upto Rs. 10,000/-. Other terms & conditions of this overdraft facility would
be as under:
1. ROI: As applicable to Personal Loans to the general public.
2. AGE OF STUDENT: The overdraft facility would be available for the
students, having completed the age of 18 years
3. PURPOSE: Contingent day to day needs of those students who are
staying away from their parents for the study purposes having got an
admission with recognized and reputed educational institutions.
4. REPAYMENT: For repayment purposes, a single post dated cheque
must be obtained from earning parents/natural guardian/local guardian
of student and kept on record.
5. RECOVERY ASPECTS: The overdraft facility must be brought into
credit once in 3 months, failing which recovery process be started.
Also, facility not continued in the final year and account must be
brought into credit at least 6 months before the expiry of the tenure of
the study period
6. OD facility will not be available to Student of Foreign National
Can be opened with zero balance, No incidental charges
Other
Free Cheque book facility 40 cheque leaves in a year
Free ATM Cum Debit card (Annual maintenance charges are to be
recovered)
Free Retail Internet Banking Services
Free Inter-sol transactions including cash
Free issuance of Draft for all type of fees/examination fees.
The status of the account be changed to General Category after

attaining the age of 21 years.
Branch Incumbents have been vested with the powers to extend the
benefits of PNB Vidyarthi Product upto 25 years on case to case basis,
only in case of Students pursuing post graduation courses.
Cessation Date is to be filled in V detail free text 5 at the time of
besides taking mandate letter at the time of opening of account itself.
All other guidelines of the Bank regarding photographs, introduction,
nomination facility, KYC norms, etc., as applicable to Savings Fund
Account would also continue to remain applicable to these accounts
To arrest the misuse of the Vidyarthi scheme, in case of student
accounts where student age is below 21 years, an exceptional report is
customized in menu option CTRPT to monitor those accounts where
Total Credits exceed Rs. 2 Lac at any point of time during the Financial
year or Balance Outstanding exceeds Rs. 1 Lac at any point of time
during the Financial year.
INOPERATIVE
STATUS IN PNB
VIDYARTHI
ACCOUNT
(RMD Circular No.
08/2015 dt 11.02.2015)
BANKING SERVICES
FOR
FOREIGN
STUDENTS
STUDYING
IN
INDIA:
KYC
procedure
(RMD Cir 31/2014
dated 15.03.2014)
Account opened under PNB Vidyarthi Scheme (SBVID) will

not be transferred to Inoperative category w.e.f 10.02.2015
even though there is no customer induced transaction in the
account for a continuous period of 24 months.
The guidelines are also applicable in existing PNB Vidyarthi
Accounts which have already transferred to Inoperative category
due to non customer induced transaction in the account in last 24
months. It should be ensured that Vidyarthi Account in
inoperative category must be transferred to operative category so
that benefit received under Govt. welfare scheme be credited in
PNB Vidyarthi account
Within a period of 30 days of opening the account, the foreign

student should submit to the branch where the account is opened, a
valid address proof giving local address, in the form of a rent
agreement or a letter from the educational institution as a proof of
living in a facility provided by the educational institution.
Branches should not insist on the landlord visiting the branch for
verification of rent documents and alternative means of verification of
local address may be adopted.
During the 30 days period, the account should be operated with a

condition of allowing foreign remittances not exceeding USD 1,000
into the account and a cap of monthly withdrawal to Rs. 50,000/-,
pending verification of address.
Neither IBS nor cheque books should be provided till the address
proof is submitted.
On submission of the proof of current address, the account would

be treated as a normal NRO account in terms of extant guidelines of the
bank issued on NRO account
Students with Pakistani nationality will need prior approval of RBI
for opening the account.

7.
PNB PRUDENT SWEEP SCHEME

( RMD Consolidated Cir No. 71/2014 DT. 22.08.2014 )
Accounts can be opened as per RBI directives for opening Saving Fund Accounts of
Eligibility
individuals/institutions. Staff members are also eligible to open their accounts under
this Scheme.
Initial Deposit Rs.500/Rs. 5000/- for Rural/Semi-Urban & Rs.10000/- for Urban/Metro areas.
Minimum
For Govt. Accounts, it would be NIL.
Q.A.B.
Rs. 150/- per quarter for not maintaining stipulated Quarterly Average Balance for
Incidental
Rural/Semi-Urban areas and Rs. 300/- for Urban/Metro areas. It will be for
Charges
operative as well as in-operative accounts under this category.
At all Centres across India, irrespective of location of Branch i.e. Metro / Urban /
Cut-off
Semi-Urban & Rural areas, Sweep In and Out shall take place in Savings Accounts
level
for Sweep in after the cut off level of Rs.40,000/- i.e. Saving Accounts having a balance of over
& Sweep out
Rs.40,000/- with a minimum Sweep-out/Sweep-In of Rs.10,000/- and thereafter
in multiples of Rs.10,000/- to/from Fixed Deposit.
Period of Fixed No manual intervention. System itself makes FDRs under this scheme for minimum
period of 7 days and for maximum period of 179 days. The customer will get the
Deposit
prevailing fixed deposit Card Interest Rates (for below Rs.1 Crore amount of Single
Term Deposit) on the amount swept in and out in the accounts provided it had
remained under FD portion for a minimum period of 7days.
Debit mandates either through clearing/transfer/cash or in case the customer
Operational
withdraws the amount from PNB PRUDENTSWEEP Account, this type of
Modalities
situations would be treated as under:
The balance available upto Rs.40,000/- in the Prudent Sweep a/c would
be utilized. For further needs, withdrawal will be allowed from Fixed
Deposit in the multiples of Rs.10,000/-, on Last In First Out Basis (LIFO)
1. Free ATM Card facility, however, annual maintenance charges are to be
Attractive
recovered.
Freebies/
2. Free Remittance Facility -Upto two remittances with the maximum amount of
Concessions
Rs.25000/- (for both remittances) in a month.
3. Free Collection of Outstation Cheques : Upto the maximum amount of
Rs.25,000/- in a month. However, out of pocket expenses will be recovered.
4. Free Retail Internet Banking Services.
5. Free 100 cheque leaves in a Financial year, this includes 40 cheque leaves
provided free to saving customer.
6. 50% concessions on Annual Maintenance charges for D-mat Services for 1st
year only.
8. PNB RAKSHAK SCHEME : (RMD Consolidated Cir. No. 88/2014 dtd. 24.09.2014)
All Defence Personnel are eligible to open account under the scheme
Eligibility
i.e. three wings of Defence, including BSF, CRPF, CISF, ITBP, State
Police Forces, Metro Police (Cities which follows Police
Commissionerate System-like Delhi Police, Mumbai Police, Kolkata
Police etc.), Research and Analysis Wing (RAW), Intelligence Bureau
(IB), Central Bureau of Investigation (CBI) & Para-Military personnel,
Pensioners of Indian army in case they choose to draw pension from
PNB branches. The account under the scheme is opened as per the rank
of the Defence Personnel because various facilities are provided as per
rank, given hereunder:
PBORs (Person below officer rank)- PBORS Code is to
be entered in Occupation in Customer Master
Lieutenant, Captains, Majors - MCLTS Code is to be
entered in Occupation in Customer Master
Lt. Cols and Cols - LTCOL Code is to be entered in
Occupation in Customer Master
Brigadiers and above - BRIGA Code is to be entered in
Occupation in Customer Master
The account of the Defence Personnel i.e. Army, Air Force, Navy,
Para Military
Forces personnel is to be opened/converted in the same scheme
code i.e. SBDPS or SBDPO and occupation of the customer is to be
entered as EGOVT. However, it is pertinent to clarify here that
in case of these accounts, PNB Rakshak Classic Debit cum ATM
Card will be issued Person Below Officer Rank and PNB Rakshak
Platinum Debit cum ATM Card to Officers.Occupation Code for
others are as under:
For Police Account - POLIC
for Coast Guard is - COAST
For ITBP - ITBPP
Initial Deposit and QAB
NIL
Sweep In and sweep Out OR
Overdraft facility
There are 2 types of facilities available to customers under PNB

Rakshak Scheme i.e. Auto Sweep facility OR Overdraft facility and
customer has to opt either of the two in advance as customer can not
avail both the facilities.
SWEEP IN AND OUT
Sweep In and Out shall take place in Savings Account after the cut off
level of Rs. 10,000 i.e., having a balance of over Rs. 10,000/- with a
minimum Sweep-out/Sweep-In of Rs. 1000/- and thereafter in multiples
of Rs. 1000/- to/from Fixed Deposit.
FDRs under this scheme will be issued by the system for a period of 7
to 179 days. The customer will get the prevailing fixed deposit card
interest rates (< Rs 15 Lacs) amount of single Term Deposit on the
amount swept in and out in the accounts provided it had remained
under FD portion for a minimum period of 7days.
OR
OVERDRAFT FACILITY:
OD facility upto a sum of last two months net salary is to be
provided to Defence Personnel whose salary is being disbursed
through our branches at the interest rate 6.5% above Base rate.
The overdraft is adjustable any time during the next six months
salary(ies) or in bullet repayment, if desired by the account holder.
The facility of overdraft shall be immediately discontinued in case
the overdraft remains outstanding by the end of the succeeding six
months, besides taking other corrective measures for recovery of
the dues. Further, fresh overdraft will be allowed after adjustment
of previous Overdraft.
Request from the Defence Personnel may be taken for an overdraft
against salary by way of Request-cum-Consent Letter (specimen
available in Circular-App-III).
In accounts where overdraft facility has been sanctioned /availed,
the Overdraft will be adjusted first and thereafter the account shall
be closed.
Know Your Customer (KYC) norms, a Certificate issued by the
Authorized/Commanding Officer carrying an authenticated passport
photograph of the concerned employee and present address, in addition
to identity card with authenticated photograph issued by the
Department, will be acceptable to the Bank. In addition, as per recent
RBI guidelines, copy of additional documents like Passport, PAN Card,
Driving License, Voters ID Card etc will be required to be submitted.
KYC Norms
Other Facilities
Eligibility
ATM cum Debit Card
The following facilities are also available under the scheme as per
different ranks
1
2
3
4
PBORs (Person below Lts,
Lt Cols and Cols Brigadiers and
officer rank)
Captains, (LTCOL)
above (BRIGA)
Majors,
(MCLTS)
Free
Free
Unlimited number Unlimited number of transactions.
International Rakshak Platinum Debit
of transactions.
International
Card.
Rakshak
No Annual maintenance charges.
Classic
Debit Two Add On Cards for close family
Card.
members free of cost. (*)
(MasterCard)No
Rs. 2 Lac limit for Point of Sale (POS)
Annual
facility is available.
Maintenance
Free group accidental death insurance on
charges.
active Debit Cards. #
Two
Add
On
Cards for close
family members
free of cost(*).
Rs. 2 Lac limit for
Point
of
Sale
(POS) facility is
available.
Free
group
accidental
death
insurance
on
active
Debit
Cards. #
(*) The primary card holder will be responsible for all the transactions made by Add On Card holder.
# Insurance Cover: Rakshak Classic Debit Card : Rs. 2.00 Lacs
Rakshak Platinum Debit Card : Rs. 5.00 Lacs
(Personal Accident Insurance cover is based on the Debit Card type held by the account holder, i.e., Classic Debit
Card and Platinum Debit Card. The Bank will not be held responsible and/or liable if the card held by the account
holder is not active. An active Debit card is one, which has been used for a successful financial transaction
within 45 days preceding the date of incidence and amount can be claimed under Debit Card Holders
Compensation policy within 60 days from loss of life (Refer : TBD Cir. 60/2014 dt. 17/10/2014). The card
must be activated and the monthly salary should be credited regularly to the PNB Rakshak account)
Any number of transactions subject to a maximum limit of Rs. 50,000/- per
day.
Free at all ATMs subject to RBI regulations as applicable from time to
time.
Internet Banking
Free facility offered from PNB.
Charges applicable to third party sites like Railways etc. Payable.
Transfer of funds through
cheques/ otherwise between Free
PNB Branches (All Centers,
i.e., Local as well as Outstation)
Cheque Book
Unlimited and free (except for bulk requirement for EMIs payable to other
Banks/ FIs/NBFCs)
Multicity Cheques (Payable at Cheque Leaf Charges: NIL
par at all Branches)
Payment Charges: NIL
Draft Issue (Number of free 5
drafts issued per month) with a
ceiling of Rs. 50,000/- on each
draft if issued through PNB
Rakshak Account.
RTGS/NEFT
10
25
Unlimited
Free
Remittance by Nepali Gorkha

Personnel serving in Indian

Army from India to Nepal &
Free #
vice versa
# Subject to conditions as stated below:
For remittances from India to Nepal by Nepali Citizen serving Indian Defence, Everest Bank Ltd. (EBL) shall
offer free of charge remittance for credit of funds into accounts of EBL account holders.
In case of remittance of funds by Nepali citizen serving Indian Defence from Nepal to India, EBL shall waive the
commission charges on remittance of those account holders of EBL whose remittance is to be credited to
accounts maintained at any branch of PNB.
In case of credit into bank account other than PNB in India, EBL shall charge INR 100/- per remittance to cover
the charges payable to Indian Banks.
Exchange Commission on buying Indian Rupees (INR) for remitting from Nepal to India shall also be subject to
fulfilment of prevailing regulatory conditions in Nepal.
Preferential
allotment
of Available to all types Rakshak accounts
Lockers
Concession in Locker charges
25% for Small locker for first year only.
Utility Bill Payments through Free of Cost (as per the present Scheme).
Internet
Passbook
Available for all accounts Free updating at Non Home Branches also.
Concession
in
margin
requirement on Home loan 5% for all Rakshak accounts.
(upto 50 lacs only)
Online Trading (3 in 1
Account)Demat,
Share Available through IDBI, SMC & Networth (Approved Brokers)
Trading and Savings Account
Instant Credit of Outstation Rs. 25,000/- in all Rakshak Accounts.
cheque Upto
Standing Instructions
Registration Free in all types of Rakshak Accounts.
Processing and documentation Waived upto 31.03.2015
charges on Housing / Car /
Personal loan
Duplicate statement/passbook: Rs 100 with latest balance and Rs 2 per
entry minimum Rs 100/- and maximum Rs 1000/ Closure of Account: Rs. 150 (Except in case of death of customer) will be
levied in case of closure of accounts before completion of 1 year of
opening of account.
The existing saving fund accounts of defence personnel may be converted
into new scheme after obtaining an Application-cum-undertaking
(Appendix I) from them. This application cum undertaking is to be taken
from all account holders whether new or converted. All personnel who
have opened account under PNB Rakshak Scheme (whether new accounts
or converted), will undertake to obtain No Objection Certificate (NOC)
from PNB as per Appendix II in the event he/she desires to change to
another Bank for credit of salary.
9. PNB SHIKSHAK SCHEME: (RMD Cir. No. 82/2014 dated 03/09/2014)

Eligibility
Initial Deposit
Minimum
QAB
Requirement
Sweep In & Sweep Out
All Permanent Teachers of recognised schools/colleges /educational

institutes
NIL
NIL
Sweep In and Out shall take place in Savings Account after the cut off
level of 15000 i.e., having a balance of over 15000/- with a minimum
Sweep-out/ Sweep-In of 1000/- and thereafter in multiples of 1000
to/from Fixed Deposit
FDRs under this scheme can be issued for a period of 7 to 179 days.
The customer will get the prevailing fixed deposit card interest rates (<
Rs 15 Lacs) amount of single Term Deposit on the amount swept in
and out in the accounts provided it had remained under FD portion
for a minimum period of 7days.
Overdraft Facility
Rate of Interest
50000/- or the last Salary Credit whichever is lower. The overdraft is

adjustable any time during the month or in bullet repayment at the
time of next salary credit.
For the teachers working in private schools/ colleges/educational
institutes (which are duly recognized by the appropriate authority),
their institutions have to give and undertaking to PNB that they
continue to remit the salary of the concerned employee in the PNB
Branch and the same shall not be discontinued without prior
intimation to the Bank. They would also not settle the terminal dues
of the employees leaving the job without obtaining prior No
Objection Certificate (N.O.C) from the PNB branch through which
the salary of the teacher is being disbursed. (This condition of
obtaining Undertaking/ N.O.C. shall not be applicable for the
Teachers of Central Govt., State Govt. schools/ colleges/educational
institutes whose salary is disbursed through our branches.
If the O/D remains outstanding at the end of succeeding month, the
facility of O/D shall be immediately discontinued.
If the salary is not credited in the salary account of the Teacher for last
two consecutive months, then the concerned salary account shall be
deactivated without giving any further notice to this effect to the
concerned teacher and the account be closed by remitting the funds to
him.
In those accounts where overdraft facility has been sanctioned/availed,
the O/D will first be adjusted and thereafter the account shall be
closed.
Applicable to personal loans to employees whose salary is being disbursed

Other Facilities
Freebies
Closure of Account
through our branches

Concession in margin requirement on Home Loan (Upto Rs. 50 Lacs only)
and Car loan: 10%.
Free ATM/ Debit Card
Any Number of transactions with a maximum cash withdrawal limit of
50,000/- per day. Personalized Platinum Debit Card shall be issued
to the Teachers. SMS alert facility also available.
Free Retail Internet Banking facility, however, charges
applicable to third party sites like Railways etc. are payable
Free Cheque Books for routine requirements (except bulk
requirements for loans to be availed at any other bank- in that case
normal cheque book charges would be levied)
Free RTGS / NEFT & Intersol transactions
50% concessions in small locker charges for the 1st year only
3 free drafts with a ceiling of 25,000 per draft subject to draft issue
through their salary Account (Not applicable for cash entries)
Demat Account maintenance charges waived for 1st year only
At par collection of cheques in respect of Salary /TA /DA
/Arrears/Terminal Dues.
Purchase of Third party cheques upto 20000/- is allowed at par.
Nomination available
All out of pocket expenses shall be recovered from the account.
Rs. 150 (Except in case of death of customer) will be levied in case of
closure of accounts within 1 year of opening of account.
FIELDS TO BE HANDLED PROCEDURALLY AT THE BRANCH LEVEL IN BOTH THESE

SCHEMES
10.
PNB TOTAL FREEDOM SALARY ACCOUNT FOR CORPORATE EMPLOYEES

(RMD Consolidated circular 95/2014 dated 11.10.2014, Scheme Code: SBTFS)
The employee whose salary account is being opened should be a
Eligibility
permanent employee.
The minimum number of accounts to be opened should be 10 or 75% of
the strength of the permanent employees of the corporate (in that
location), whichever is lower.
Initial Deposit : Nil
Deposit
QAB/Min. Balance required : Nil
Upto Rs. 50,000/- or the last salary credited in the account, whichever is
Over-draft
lower, at interest rates applicable to Personal Loans to employees, being
available through ATM Cards/Debit Cards also.
The overdraft is adjustable any time during the next six months salary(ies) or
in bullet repayment, if desired by the account holder.
The customer would not be subjected to any charges in respect of the services
Other
related to this account.
2ND VARIANT OF
TOTAL FREEDOM
SALARY ACCOUNT
Free cheque : 40 cheque leaves in a year, over and above 40 cheques

provided free to general customer
Free Statement of Account
Free issuance of all types of certificates including Interest Certificate &
Balance Certificate, etc.,
50% discount in one locker of small size & medium size at the branch
convenient to customer for 1st year only..
Free of cost PNB Debit/ ATM Card, however, annual charges recoverable.
Presently, Accidental insurance cover is already provided on the active
Debit/ATM Card.
Free RTGS/NEFT transaction, if routed through salary account..
If the salary is not credited in the salary account of the customer for last 2
consecutive months where the account is introduced by the employer, then
the concerned salary account shall be deactivated without giving any
further notice to this effect and the account transferred to general category.
In those accounts where overdraft facility has been sanctioned/availed, the
O/D will be first adjusted and thereafter the account shall be transferred.
These guidelines shall be applicable in other salary accounts opened under
different scheme codes like SBSAL also.
Free Retail Internet Banking.
No commission on one Demand Draft upto Rs. 25,000/- per month, if
routed through salary account.
Free fund transfer upto Rs 1 Lac per day from salary account within
our branches.
Waiver of 50% processing/documentation charges on Car/Housing/
Personal Loan (Facility is available upto 31.03.2015).
For HIGH END SALARY ACCOUNTS (HESA)
Scheme Code: SBHES
Over-draft
Rs.1,00,000/- or the last salary credited in the account, whichever is lower
Eligibility
Permanent employees who are drawing Gross Salary of Rs.One lac & above
per month.
Additional Benefits
AMC for Debit Card shall be free,

Processing/ documentation charges on Car/Housing/ Personal
Loan given Full waiver
A report PNBRPT 9/121 has been customized to check the
accounts wherein no credit made between two dated for
monitoring the credit of salary or loan installments.
A new code SBHES has been assigned in CBS for the product.
11. SAVING ACCOUNT PRODUCT FOR PREMIUM CUSTOMERS :

(RMD Consolidated Cir. no. 69/2014 dated 21.08.2014)
Saving Account can be opened by Individuals (singly or jointly), Associations,
Trusts, Hindu Undivided Families (HUFs), Clubs, Societies etc. subject to
fulfilling eligibility criteria (domestic depositors) of Reserve Bank of India, on
compliance of Know Your Customer (KYC) Guidelines, execution of
Account Opening Form and completion of requisite formalities, viz.,
photographs, identity and address proof etc.
PRODUCT FEATURES : Scheme code SBPRM (SB A/C FOR PREMIUM CUSTOMERS)
Sl. Particulars
With QAB of Rs.50,000/- & above
1
Minimum Initial Deposit
Rural- 500/(R/SU/U & M)
Others- 1000/2
Minimum Q.A.B.
Rs. 50,000/- & above
3
Non Maintenance of QAB 1) No charges for non maintenance of QAB of Rs.50000/2) If customer does not maintain prescribed minimum
Charges (per quarter)
QAB
(i.e. Rs.500 in rural and Rs.1000 other than rural area) as
required in general saving fund account, applicable
charges i.e. Rs.75/- in rural, Rs.100/- in SU, Rs.150/- in
Urban & Rs.200/- in Metro will be levied.
4
40 cheque leaves are already free Per Annum to all
Free Cheque Leaves
Saving Fund Customers.
20 additional cheque leaves will be given free of cost in a
year (i.e. 5 additional cheque leaves free in the quarter for
maintaining QAB of Rs.50000/- & above in the previous
quarter.)
5
CHARGES :
RTGS/NEFT
Free if Routed through account
ELIGIBILITY
6
7
8
9
Cash Deposit :
Base Branch
Non Base Branch
Inter-sol
transfer/Clearing
i)Local
(Same
Clearing
Centre/City)
ii) ISO Charges on transfer of
funds to accounts at outstation
branches
Cash withdrawal Charges at all
branches
Instant credit of outstation cheques
P.Q.(After ensuring satisfactory
operation & maintaining of QAB
Free
50% discount on applicable charges. (Local/outstation)
Free
Free
Rs.25000/
for 2 qtrs. in the account).

10 Free Collection of outstation
Rs.1.00 lac per quarter
Cheque per quarter (Maximum)
(Issued in favour of customer)
11 Issue of Demand Drafts per quarter 50% discount on issue of draft upto Rs. 1.50 lac per
quarter.
12 Stop Payment instruction charges
Free
13 Account Statements charges (in
Free
addition to passbook per month)
14 Concession in respect of upfront
fee/ processing Fee for availment
of Loan (Housing Loan upto 50 lac
50%
& Car Loan upto 6 lac)concession will be available after
maintaining QAB for 2 quarter
15 Issue of Free Debit Card
Platinum Debit Card with 2 add on cards (Maximum
Accidental Insurance cover Rs. 2lac is available to primary
card holder only).
16 A rebate/ discount in locker rent
50% concession in locker rent for first year only.(Small
locker)
All above concessions/freebies will be available if such account holders maintain Q.A.B of
Rs.50000/- & above else charges will be levied by the system.
12. FAMILY SURAKSHA BACHAT KHATA
(A UNIQUE SB A/C BUNDLED WITH LIFE INSURANCE PRODUCT)
RMD CIR. NO. 65/2014 DATED 09.08.2014
Family Suraksha Bachat Khata is bundled with PNB Met Life Family Income Protector
Plus. The product is combination of Saving Fund and Insurance plan available to Single Individual
(age group - 25 yrs to 60 yrs as on last birthday).
It is a unique proposition of Term Assurance with Return of Premium (TROP) plan
bundled with Saving account which gives monthly income benefit to the nominee in case of demise
of the person whose Life is Insured under this product and helps managing the familys expenses.
However in case the nominee demands lump sum amount, the same option is also available.
Sl.no
The Detailed guidelines of Family Suraksha Bachat Khata are as under:-.

Particular
Highlights
Eligibility
Individual (Single) saving account applicant who is

consciously willing to purchase this product.
Entry Age
Min- 25 years & Max 60 yrs (as on last Birthday)

Max entry age to be 60 yrs for a policy term of 15 yrs
3
4
Maximum maturity age

Insurance Plan
75 Yrs
Term with Return of Premium Option
Coverage Term Options
10 Years & 15 Years
Premium Payment Mode
Monthly/Annually as per option of the customer
Premium Amount
As per Table at Appendix-II (Refer Circular)
Monthly income Options
Rs. 10,000/- & Rs. 25,000/-
9.
Pay out amount as per As per Table at Appendix-III (Refer Circular)

option
Maturity payment to the Equal to 110% of the total premium paid
customer (if the insured is
alive and policy is in force
on the completion date of
the policy) on completion of
opted period
10
(TROP)
11
Minimum base sum assured
11.1
For Rs.10,000/- monthly Rs.14.20 Lacs

income option (minimum)
Rs.12 Lacs
11.2
For Rs.25,000/- monthly Rs.35.50 Lacs

income option (maximum)
Rs.30 Lacs
12
Medical Check up
13
Payment on surrender of The customer may surrender the policy at any time during
the opted period. However the surrendered value will be
policy
paid as per Appendix-IV(Refer Circular). No amount will
be paid if policy is surrendered before 3 years.
14
15
Free Look in period

Others guidelines
For 10 Years Period
For 15 Years Period
No medical checkup (only undertaking of good health)
15 Days
In case of existing customers / account holders their
Scheme Code will be changed to new Code- SBLIP
assigned in CBS for the product or alternatively a New A/c
can be opened in same Cust-ID if customer is availing some
other facilities in earlier account.
Death resulting from suicide whether sane or insane will
not be covered for the first year from the date of first
admission of the life assured.
Premium will be paid by debiting Customers Saving Bank
account opened/converted for this purpose.
Other terms and conditions applicable to Saving Fund
Customers issued by bank from time to time will be
adhered to.
13. CURRENT, OVERDRAFT & CASH CREDIT ACCOUNTS
ELIGIBILITY: Current Account can be opened by Individuals (either singly or jointly),
Associations, Trusts, Partnership Firms, Proprietorship Firms, Hindu Undivided Families (HUFs),
Firms, Societies and Corporate Entities, on compliance of Know Your Customer(KYC)
Guidelines, execution of Account Opening Form and completion of requisite formalities, viz.,
Balance Sheet, Article & Memorandum of Association, photographs, identity and address proof, etc.
Current Account of other Banks can be opened after permission from Banking Operation
Department (Central Office).
PURPOSE: To cater to the diversified banking needs for any business activity.
Application: Obtain an undertaking that the applicant is not availing credit facility with any other
bank. All the particulars in the account opening forms signed by customers are recorded in the
system and the account opening form (AOF) and all other related documents like proof of
address, Form-60/61or PAN number, letters of authority to operate accounts (form no. PNB-49),
copies of partnership deeds/ memoranda and articles of association/ rules of association and
societies/ letters in respect of Joint Hindu family (form no. PNB-36) etc. should be filed in
numerical order of accounts in an era file/ loose binder. The Specimen Signature Slips should
also be filed in a loose-leaf binder.
No Restriction on Withdrawals: There is no restriction on number of withdrawals. For cheques
drawn for a sum of less than Rs. 50/-, prescribed charges (presently Rs. 10/- per such cheque)
would be recovered from the customers.
No Interest: Interest is not allowed on Current Accounts except in case of deceased individual
customers or sole proprietorship concerns where interest at savings fund rate will be paid to the
claimant/s only from 1st May 1983 or the date of death of the depositor whichever is later, till the
date of repayment.
Menu Option: OAAC Scheme Code: CAGEN Initial deposit Rs.1000/- QAB Rs. 3000/for Rural & SU Branches & Rs. 5000 at U/M) Nomination facilities available for
individuals.
Service charges are levied for: Ledger folio used, Cheque books issued, Non-maintenance of
minimum balance, Return of cheques, etc. Half-yearly charges should be levied on current and
cash credit accounts. Incumbent Incharge will examine all current and cash credit accounts in the
system every September and March and verify the amount of the charges in each instance,
keeping in view the instructions laid down by Head Office from time to time. The accounts
should be debited with the charges during the last few days of the half-year and amount so
debited should be credited to the Revenue Head-Incidental charges. No special advice of the
debits need be sent to the customers but their cheques should not be returned for want of funds
due to such debits until their pass books/ statement of account completed upto the closing month
are in their hands.
Overdraft / Cash Credit: All details of Cash Credit or Overdraft account pertaining to
limit sanctioned, the rate of interest to be charged, margin to be maintained, nature of
security held, date of documents and the sanctioning authority should be clearly
mentioned and verified by the checking official. As per RBI directions, there is no
prohibition under any Central Act to use any date other than the British Calendar dates.
The relevance of putting a date on the cheque is to ascertain whether the cheque is
current or stale. Therefore, a cheque written in Hindi and bearing a date as per National
Calendar is valid and ought to be accepted by the banker. Therefore, cheques bearing
date as per National Calendar (Saka Samwat) should be accepted for payment, if in order
otherwise.
Cheques Returned: When cheques are returned unpaid for any reason, these will be entered in
the register of cheques returned (Form no. PNB-122) and the relative memos must be initialled
by a checking official. Whenever the bank dishonours a cheque because the signature of the
drawer gives ground for suspicion, the customer, on whose account the cheque is drawn, should
be advised direct on form no. PNB-114.
Making Account Operative: Current Account if not operated for 24 months becomes
inoperative. On receiving the request to make it operative, while transferring accounts from
inoperative to operative category under the original number, a day book voucher will be passed
by debiting the amount to inoperative account and crediting it to the operative account, which
will be checked by a checking official. The relative account opening form and specimen signature
slip will suitably be re-placed in the files and binders of operative accounts.
Account Closing: If a depositor closes his account, within twelve months of its opening, the
prescribed charges will be recovered. While applying for closing of the account, the pass book
and the unused cheque forms, if any, should be returned to the bank. The pass book, after
completion will be returned to the depositor, if so desired. The bank may close Current account,
without assigning any reason, after giving one month notice in writing to the depositor.
Balance Confirmation Letters: Current Accounts (with debit balance only) and Cash Credit
accounts balances should be periodically confirmed by the account holders. Accordingly Balance
Confirmation letters (Form no. PNB-139) for balance in current (with debit balance only) and
cash credit accounts will be issued as at the 30th September and 31st March each year. BC letters
confirming balances be obtained once in a year in all Standard/Regular loan accounts from the
borrowers and guarantors. In accounts other than standard/ regular, BC letters confirming balance
be obtained from the borrowers and guarantors on half yearly basis i.e. as on 31st March and 30th
September, every year. Balance confirmation letters in loan accounts against the security of bank
deposit will not be issued unless the debit balance exceeds the value of security and/or the deposit
under pledge matures after two years and above from the date of advance. A Revenue Stamp will
be affixed to Form no. PNB-139 or stamped according to the Stamp Act of the State, where it is
executed, the cost of the stamp being debited to the customer's account. Confirmation letters for
cash credit and overdraft accounts should be presented to the borrowers for signature personally
by a responsible official of the branch, who can identify them and should verify signatures
obtained. In the case of customers residing at outstations, their signatures on confirmation letters
should be obtained through a local branch and, where there is no branch of the bank, the letter
should be dispatched to the customer under registered cover. Date of receipt of balance
confirmation letters will be entered in balance book and confirmation letter register, under proper
authentication. Confirmations on form no. PNB-139 will be entered on the relative pages of the
balance confirmation and documents register (form no. PNB-355), the remarks column of which
will be signed by the bank official, in whose presence the borrower had signed the form. This
information shall be entered into the computer and the Security Register Maintenance (SRM)
shall be updated. Confirmation letters in respect of cash credit and overdraft accounts must be
dated by the customers themselves. These will be attached to the relative loan documents.
14. PNB SMART BANKING CURRENT ACCOUNT SCHEME With or without sweep
facility (RMD Consolidated Cir. 80/2014 dated 05.09.2014)
ELIGIBILITY: Current Account can be opened by Individuals (either singly or jointly), Associations,
Trusts, Partnership Firms, Proprietorship Firms, Hindu Undivided Families (HUFs), Firms, Societies
and Corporate Entities, on compliance of Know Your Customer(KYC) Guidelines, execution of
Account Opening Form and completion of requisite formalities, viz., Balance Sheet, Article &
Memorandum of Association, photographs, identity and address proof, etc.
The detailed features of all the variants are as under:
Sl.
No.
1
2
3
4
5
6
7
8
9
Particulars
VARIANTS
PNB GOLD PNB
DIAMOND
CSMR2
CSMR3
2,00,000
5,00,000
PNB
SILVER
Scheme code
CSMR1
Minimum Quarterly Average Balance 1,00,000
(QAB) in Rs..
Initial Deposit
5,000
5,000
(R/SU/U & M) in Rs..
Non Maintenance of QAB Charges 150
600
(per quarter) in Rs.
Minimum Balance for Sweep-in and 2,00,000
2,00,000
Sweep-out facility in Rs.
Sweep-in and Sweep-out in multiples 25,000
25,000
of Rs.
Tenor of Term Deposit
15 to 91 days
(At applicable card rate)
No. of Free Cheque Leaves
100
200
(per quarter)
RTGS/NEFT charges
Free
Free
Concession
in
Cash
Deposit Upto Rs.2 Upto Rs.5
Chargeslac per day lac per day
- Free
- Free
Base Branch
thereafter
thereafter
applicable applicable
charges
charges
Local Non base Branch
Upto
Upto
Rs.50,000
Rs.1,00,000
per day per day
Free
Free
thereafter
thereafter
applicable applicable
charge
charge
Outstation Non base Branch
Upto
Upto
PNB
PLATINUM
CSMR4
10,00,000
5,000
5,000
1500
3,000
5,00,000
10,00,000
25,000
25,000
300
600
Free
Upto Rs.5
lac per day Free
thereafter
applicable
charges
Upto
Rs.2,00,000
per day
Free
thereafter
applicable
charge
Upto
Free
Upto Rs.10
lac per day
Free
thereafter
applicable
charges
Upto
Rs.10,00,000
per day Free
thereafter
applicable
charge
Upto
10
11
12
Rs.50,000
per day
Free
thereafter
applicable
charge
Rs.1,00,000
per day
Free
thereafter
applicable
charge
Rs.2,00,000
per day
Free
thereafter
applicable
charge
Rs.10,00,000
per day Free
thereafter
applicable
charge
Free
Free
Free
Free
Free
Free
Free
Inter-sol transfer transaction charges
Concession in Cash withdrawal

Charges:
Free
i)Base Branch
ii)Local / Outstation non base branch 25 % of
applicable
charges
Instant credit of outstation cheques
Maximum outstanding Amount at any
point of time irrespective of the
number of cheques - after ensuring 15,000
six months of satisfactory operation
in the account.
13
Free Collection of outstation Cheque

0.50 lac
per quarter maximum upto Rs.
per quarter
(Issued in favour of customer)
14
Annual Custody Charges for Demat

Services (except NSDL/ CDSL Waived
charges)
Issue of Free Demand Drafts per 5 nos
quarter
(Max.
Amt. upto
Rs.
0.50
lacs)
Stop Payment instruction charges
Free
15
16
17
Account Statements
18
POS MachineInstallation Charges
Transaction Processing Charges

Fortnightly
Free
Applicable
Charges
Applicable
Charges
50 % of 75 % of Free
applicable
applicable
charges
charges
20,000
50,000
1,00,000
2.00 lac
per quarter
5.00 lac
per quarter
10.00 lac
per quarter
Waived
Waived
Waived
10 nos
(Max. Amt.
upto
Rs.
2.00 lacs)
15 nos
30 nos
(Max. Amt. (Max. Amt.
upto
Rs. upto
Rs.
5.00
10.00 lacs)
lacs)
Free
Free
Fortnightly
Free
50%
concession
on
Applicable
Charges
50%
concession
Free
Weekly Free Free

Free
Free
Free
Free
Merchant Service Fee

19
on
Applicable
Charges
Charges will be decided at HO Level on the basis of
merit of each client.
Credit
Card
(Corporate/
Individuals,i.e,Proprietor,
Partners,
Promoters & Directors etc.)- Joining
Free
Fee/ Renewal Fee/Annual Fee on
Primary & Add on Card
Free
Free
Free
Free
Free
Free
Free
20
PNB Fee Portal & Payfee
21
Fund Collection Module
Free
Free
Free
Free
22
Door Step Banking Services

i. Transaction Charges
Applicable
charges
Free
Free
Free
ii. Cash Handling Charges

iii. Agency Charges
Applicable
(The charges are finalized by Circle charges
Offices)
23
Advance against clearing / Purchase 25,000

of local cheque upto in Rs.
As per sl. no. 9.i to 9.iii above

Deposit limit Deposit
of Rs.2 lac
limit of Rs.5
per day free
lac per day
(For more
free
(For
than Rs.2 lac more than
as per terms
Rs.5 lac as
decided by
per terms
Circle
decided by
Office)
Circle
Office
50,000
1,00,000
Deposit
limit
of Rs.10 lac
per day free
(For more
than Rs.10
lac as per
terms
decided by
Circle
Office)
2,00,000
Other terms & conditions

Guidelines for Current Accounts for existing as well as new customers will be as under:
A- NEW CUSTOMER.
i. Customers will open Current Account (With or without Sweep-in and Sweep-out facility) under any
variant except Non Resident Indians, Banks and financial Institutions and Illiterate Customers and
the persons incapable of directly entering into a contract.
ii. Customers who do not opt to maintain prescribed QAB for availing freebies, may open existing
normal Current Account.
B- EXISTING CUSTOMER
i. Non Resident Indians, Banks and Financial Institutions will continue with General Current Account.
ii. General Current Account holder may continue with the existing Current Account. They may
otherwise opt for PNB Smart Banking Current Account (With or without Sweep-in and Sweep-out
facility).
iii. Existing guidelines in respect of Premium Customer Concept for Current Account Customers issued
vide RBD:DEP:Cir. No. 14/2008 dated 16.04.2008 will not be available under CAGEN Scheme
code.
15. NEW PRODUCT - PNB SUVIDHA WITH PULL SWEEP FACILITY (RMD CIR.
NO. 91/2014 DTD. 26/09/2014)
Purpose
PNB SUVIDHA product is most suitable for customers, who maintain multiple
accounts of multiple scheme types, for better fund management across the
branches.
Any individual (singly or jointly), HUF, a firm a club, association, educational

institution, municipality, panchayat, society, trust, etc. having accounts of similar
capacity can opt for this facility.
The customer accounts under scheme types like SBA (Saving Fund), CAA (Current
Scheme
Account), CCA (Cash Credit Account), ODA (Overdraft Account), TDA (Flexi Fixed
Types
Deposits) can be marked for pulling. The scheme type like LAA (Loan Account),
PCA (Packing Credit Account), BIA (Inland Bills) and FBA (Foreign Bills) cannot
be used with this feature.
Order
of At the bank level, the order of sweep has been set like SBA, CAA, ODA, CCA, TDA
Sweep
at (flexi fixed deposits).The system will process accounts in that order only. This order
will be fixed and not changeable at account level.
Bank Level
For allowing this facility to the customer, the branches to modify CUMM G
details 6th page Set allow sweeps to Y. This will allow the pool to be set up.
The pulling features at account will be set by the branch user (DBA user) for each
Pulling
customer (Who chooses to opt for the scheme). The DBA has to run menu option
Features Set
SWEEPS.
Up
Main account will be at base SOL and they can attach other SOLs a/c also.
Within the eligible accounts for the pool, customer can indicate the order in which
the sweeps should happen within the scheme types i.e. in case four accounts under
Order
of
saving fund category, customer can choose order of pull amongst the four accounts.
Sweep
at
Account Level There is no restriction that the user should enter the order in the same way. The
system will put it in the ascending order within the scheme type.
System will first identify all positive balance A/Cs and then the negative balance
A/Cs.
This is only a display field. The system displays all the account number pertaining to
Account
the same customer id. If any a/c opened after taking sweep facility, the user can add
Number
that a/c at the end. If the user wants to add a/cs of different customer id, system will
restrict with the message Accounts does not belong to the same customer id.
One account selected for one pool cannot be included in any other pool. The account
Restriction
already in a pool should be removed from the pool before including in another pool for
sweep facility.
Contribution Contribution to pool to the extent of effective available amount.
For Debit balance account, Effective available amount = (Sanction limit/Drawing
to the Pool
Eligibility
Relationship
Type
Min.Quarterly
Average
Balance/
Sanctioned
Limit Requirement
&
Service
Charges
Other
Features
Power whichever is less+ Adhoc limit, if any) (Clear bal amount+ Lien, if any+
System Reserved amount, if any)
For Credit balance account, Effective available amount= (Clear bal amount+
Sanction limit/Drawing Power whichever is less, if any) (Lien, if any+ System
Reserved amount, if any)
System will consider respective individual scheme level parameters setup before
arriving at the effective pool amount for example if the scheme is defined with
retention of minimum amount say Rs. 25000/- for prudent sweep it will consider
over & above minimum balance for pull facility.
System will first identify all the positive balance accounts and then the
negative balance accounts for contribution.
System displays the relationship of the account. It could be main account holder, joint
account holder etc. This is a display filed and protected.
Particulars Min. Bal./QAB (in last quarter)
Upto
4 Qtrly 4 Lac in any of SF/CA
Accounts
OR
4 Lac limit in CC/OD
More than Qtrly 4 Lac in any two of SF/ CA
4 Accounts AND/OR
4 Lac limit in any two CC/OD
Service Charges
Presently free of Charge.
Presently free of Charge.
Sweeps: The user can decide whether the account has to be used for sweeping or
not. Even if at the account level the flag is set as N, that account can be used for
sweeping in here. The modification will go and update at the account level also. It
is a protected field at the account level.
Once the pool is created, it needs to be verified by another DBA. After the
verification, the pool will be effective. Once the pool is created, the system will
show the effective available for the account, which is being debited taking in to the
account the balances from all the accounts.
Other functions are modification. Cancelation is to be invoked before verification.
It is also possible to suspend a pool. The suspension of pool will result in not
considering the accounts for sweeps. Revoking of suspension is also possible. Both
suspension and revoking of suspension requires verification. If the pool is
suspended, then the status of the pool is shown as Suspended else the status
would be Active.
The process of pulling will happen as an end of day process. If the user wants
to adjust the proceeds, he can invoke the menu <SWOPS> during the day also.
A frozen account is not allowed to be a part of the pool. Also freezing of an
account, which is in a pool, is not allowed.
16. PNB FLEXI RD SCHEME (RMD Circular 109/2014 dated 01.11.2014)

Eligibility
Deposit
Period
Interest
Pre-mature withdraw
Loans/ advances
Nomination
Penalty
TDS
Others
Individual - singly or jointly, by a minor through his guardian or by a

minor of the age of 10 years and above in his own name.
More than one account can be opened by a depositor.
Firms, clubs, associations, trusts educational institutions, Municipal
corporations, Panchayat, Govt. and quasi-Govt. bodies, Co-operative
societies, religious or charitable institutions, HUFs and Corporate etc.
A depositor has to choose a core monthly installment with a minimum of Rs.
100/- or above in its multiples. The monthly installments during the tenure of
the deposit account shall not exceed in any month, ten times of such core
amount, the excess amount deposited would not be eligible for computation of
interest payable. No deposit will be accepted after maturity of the RD
For any period from 6 months to 120 months.
a) The interest shall be at the CARD rate applicable to term deposits
below Rs. 1 Crore. However, at any point of time bank introduces a
slab below Rs. 15 lacs the same will be applicable.
b) Interest shall be applied at the rate applicable to the period for
which the account is opened on daily product basis.
c) Interest shall be credited to the account on half-yearly basis in
March/September (as in case of SF accounts).
d) Benefit of additional rate of interest on Flexi RD Deposit will be
given to Sr. Citizen as per banks guidelines issued from time to
time.
e) The deposit of staff and ex-staff members would be allowed 1 %
over and above the rate of interest permissible to public.
In case of payment before maturity, interest payable in respect of such deposit
shall be at the rate applicable, on half yearly compounded basis, for which the
deposit remained with the Bank or at contracted rate, whichever is lower
minus 1% penalty.
Staff Members and Senior Citizens and instances of death of the depositor
before maturity, would be exempted from the levy of penal cuts.
Loans and Advances may be granted and shall be governed by L&A Circulars
issued by IRMD (Credit Policy Section) HO on the subject from time to time
As per extant guidelines on Nomination
No penalty on missed installments
No Income tax deducted at source
i)
Flexi-RD shall be payable at par on maturity at all CBS branches
ii) Payment/other transactions related to Flexi RD before its due date
would be entertained only by the Base Branch
iii) SWO has been enabled to open the PNB Flexi RD/Swechha Jama
Yojna accounts
17. RECURRING DEPOSIT SCHEME

Any individual, singly or jointly, or a minor of 10 years and above in his own name or
Eligibility
under guardianship irrespective of any age, HUF, Firm, a club, association, education
institution, municipality, panchayat, society or trust etc.
Amount of instalment is minimum Rs. 100/- or more in multiple thereof.
Deposit
Period of deposit can be from 6 months to 120 months in multiple of 3 months.
Period
Interest is to be paid as in case of term deposits, which are compounded on quarterly
Interest
basis. Installment in the account can be deposited on or before last working day of the
month. In case of delayed deposit of installment there is a penalty of Rs. 2.00 per
Rs.
100/- per month, irrespective of periodicity of deposit.
The deposit shall mature 30 days/one month after payment of last installment or on due
Maturity
date, whichever is later.
Irregular Rd will be treated at par with flexi RD.
If RD is closed within a period of one year, premature charges of Rs. 100/- will be levied
, except in case of death of depositor.
A RD holder cannot amend number of installments or amount of monthly installments
Prewithout breaking the original contract. (ii) If RD is closed before maturity, rate
mature
applicable for the appropriate tenor of term deposit shall be paid.
Withdrawal
18. PNB LAKHPATI (SCHEME A- RECURRING DEPOSIT SCHEME)
(RMD Master circular 16 dated 30.08.2013)
Lakhpati Recurring Deposit Scheme is most suitable for accumulating small regular
Purpose
savings into a handsome amount to provide for future expenditure requirements.
This scheme would enable the depositor to become a Lakhpati within a period of
78 months to 57 after accumulating amount ranging between 1000/- per month to
1500/- per month.
Any individual (singly or jointly) or a minor of 10 years and above in his own name
Eligibility
otherwise under guardianship, HUF, a firm a club, association, educational
institution, municipality, panchayat, society, trust, etc. can open the account.
Amount
of The accounts may be opened in following installments and multiples thereof.
recurring
S.No. Amount
of Period of Deposit: Rate
of Maturity
deposit
Instalment
No.
of Interest
Value
installment
&
Installments
period of deposit
1.
Rs. 1500
57
8.75%
106136
2.
Rs. 1340
60
8.75%
100968
3.
Rs. 1300
63
8.50%
103326
4.
Rs. 1070
72
8.50%
100559
5.
Rs.1000
78
8.50%
104166
6.
Rs. 880
84
8.50%
101015
7.
Rs. 730
96
8.50%
100321
8.
Rs. 620
108
8.50%
100469
9.
Rs. 530
120
8.50%
100080
Senior citizen, 0.50% additional interest and honorably retired staff members, 1%
Rate of Interest
additional interest shall be payable over and above the interest applicable
Deposit
Instalments
Of
Penalty
Reinvestment in
FD scheme at
maturity, if not
withdrawn
Premature
withdrawal
of
Lakhpati
Recurring
Deposit
Payment
of
irregular/
Discontinued
Lakhpati RD
Account
Loan
and
advances
Installment shall be deposited as prevalent under RD scheme. The last installment of

RD is to be deposited on or before the due date of the month which is mandatory.
However, if the same is deposited late the maturity date shall be postponed
accordingly.
Penalty for late payment of installments is 2.00 per 100/- per month.
The maturity proceeds will be reinvested under MBFD Scheme (under maturity
option) for one year only at applicable card rate of interest at the time of maturity, if
not withdrawn by the account holder. The issue is required to be handled
procedurally at the branches.
The penalty clause for premature cancellation of Lakhpati Recurring Deposit is as
under:
COMPLETED TENOR OF LAKHPATI RECURRING DEPOSIT
Levy of 1% penalty at the time of pre mature cancellation and the interest rate
payable would be the card rate as applicable minus 1.00% OR the contractual
rate on which Lakhpati RD is made under the scheme minus 1.00%, whichever
is lower.
Note: Staff Members, Senior Citizens and instances of death of the depositor
before maturity would continue to be exempted from the levy of penal cuts.
Irregular/discontinued Lakhpati RD accounts shall be levied with a penalty of 1.00%
on the applicable rate for which the Lakhpati RD has run, if withdrawn before
maturity. No penalty of 1% will be levied, if the payment is made on or after due
date even in case of irregular/discontinued RD accounts.
ROI to be charged and margin to be kept on the amount of loan/overdraft allowed
against the deposit shall be governed by L&A Circulars issued on the subject from
time to time.
19. PNB LAKHPATI (SCHEME B- RECURRING & FIXED DEPOSIT SCHEME)

Purpose
Eligibility
Rate Of Interest
PNB Lakhpati Scheme provides a deposit product with special features of

Recurring Deposit & Fixed Deposit (Maturity basis).
An individual (singly or jointly), including a minor who has attained the age of 10
years in his/her own name on giving proof of age; proprietorship /partnership firm;
club, association; company /corporate body; public /commercial organization;
Hindu Undivided family (HUF); religious, charitable and educational institution
can open account under the scheme (The accounts in the name of minor, below the
age of 10 years will be opened under guardianship).
Deposit under the PNB Lakhpati Scheme shall carry interest at the rate of
8.50% (Quarterly compounded).
Preferential Rate of interest as applicable to Staff and Senior Citizen/Senior
Citizen (Staff) from time to time will be paid.
Amount
of
Recurring
Deposit
installment
&
period of deposit
(RD & FD)
Deposit
Of
Instalments
Penalty
Auto renewal
Maturity
Reinvestment in
FD scheme at
maturity, if not
withdrawn
Premature
Payment
Loan/ Advances is
permissible under
the scheme
Issue Of Passbook
Tax deducted at
Source
Total period of deposit 120 months and amount of installment may be

deposited in multiples of Rs. 100/S.
Amount of Period
of Total
Rate of Maturity
No. Installment Deposit
Period
Interest Value
RD
FD
Period period
1
2100
24
96
120
8.50 %
107943
2
1500
33
87
120
8.50%
102831
3
1200
42
78
120
8.50%
101591
4
1000
54
66
120
8.50%
104610
As per the guidelines defined under PNB LAKHPATI Scheme A defined above.
Penalty for late payment of installments is 2.00 per 100/- per month.
Auto renewal facility is available and the auto renewal shall be done for the period
requested by the depositor at applicable rate of interest at the time of renewal of
term deposit.
The deposit shall mature on due date which shall be linked to the date of opening
of the RD account.
As per the guidelines defined under PNB LAKHPATI Scheme A defined above.
Penalty for premature payment shall be levied in RD as well as FD as applicable

at contractual rate minus 1.00% OR the rate under the scheme on the contractual
date applicable for the tenor for which the deposit has actually run minus 1.00%,
whichever is lower however, no penalty shall be imposed in case of death of
depositor and the payment shall be made to the legal heir/claimant survivors
/nominee
Note: Staff Members and Senior Citizens (except their term deposits if
any, accepted by Bank on DRI basis), instances of death of the depositor
before maturity, would be exempted from the penal cuts.
The rate of interest to be charged and margin to be kept on the amount of
loan/overdraft allowed against the deposit shall be governed by L&A Circulars
issued on the subject from time to time.
A Recurring Deposit pass book will be issued which shall contain details of the
amount deposited and shall also contain the Maturity value of the deposit on due
date with the clause subject to deposit of all RD installments on or before due
date. In case of defaults, the maturity value shall be subject to change.
Interest is subject to TDS under FD portion only, wherever applicable and
proceeds net of TDS are to be paid/ credited to the customers account at the
time of payment / auto renewal.
20. PNB SPECIAL RECURRING DEPOSIT SCHEME

(RMD Master Cir No.55/2012 DT. 04.10.2012)
Account can be opened by all Govt. Institutions, Pvt. Institutions, PSUs, Corporate
Eligibility
Bodies etc. The account shall be opened in the Name of the institution A/C Name of the
employee. The Institution shall open the accounts with minimum 10 Employee or 75%
of the eligible employee whichever is lower.
Amount of installment is minimum Re.10/- according to PF deductions of the employees
Deposit
and may be accepted later on in multiples of Re.1/- thereof.
Nomination Nomination available as per extant guidelines of the bank.
Minimum / Maximum Period of Deposit : 6 Months / 120 months.
Period
If the employer requires deposit period for a longer duration i.e. more than 120 months
at present, the previous account will be closed after the full tenure of 120 months and
new account will be opened for maximum period allowed as per RBI guidelines and at
rate of interest prevailing at that time. The maturity amount of earlier closed RD can be
deposited in the new account opened but will carry interest at the rate as applicable to
the new account.
No penalty on missed installment/s.
Penalty
The interest shall be at the CARD rate applicable to term deposits below Rs. 1 Crore.
Interest
However, at any point of time bank introduces a slab below Rs. 15 lakh the same will be
applicable. Interest shall be applied at uniform rate applicable to the period for which the
account is opened based on daily products as applicable in case of Flexi RD Scheme.
Interest shall be credited to the account on half-yearly basis in the month of
March/September as in case of SF accounts.
Loans and Loans and Advances may be granted and shall be governed by L&A Circulars issued by
IRMD (Credit Policy Section) HO: on the subject from time to time with the prior
Advances
sanction/permission of the institution.
Pre-mature No premature withdrawal allowed without the prior sanction or permission of the
Withdrawa institution.
l
PNB Special Recurring Deposit Scheme shall be payable at par on maturity at Base
Maturity
Branch only.
Tax
Deduction
No Tax is deducted at source (TDS) on interest income of the account holder.
21. MULTI BENEFIT TERM DEPOSIT (MBTD) SCHEME

(RMD Master circular 19 dated 06.09.2013)
Eligibility
Individual (singly or jointly) with others,

Minor who have attained the age of 10 years and above in his own name on giving
proof of age by his guardian or any reliable source or through his natural/legal
Maturity
Option (Reinvestment of
interest
on
quarterly
compounding
basis)
Amount
of
Deposit
Tenor
Deposit
of
Rate
Of
Interest
Conversion
Auto Renewal
Overdue
Deposit
guardian,
Proprietorship/Partnership Firm, Commercial Organization,
Company /
Corporate Body,
Hindu Undivided Family,
Association, Club, Society, Trust or Religious/Charitable or Educational
Institutions,
Municipality or Panchayat, Government or Quasi-Government Body.
Illiterate and blind persons can also open the account
The interest shall be compounded on quarterly basis and is payable on maturity of
deposit. The interest inflow in the account shall be on every calendar quarter end
i.e. 31/3, 30/6, 30/9 & 31/12.
The incomplete quarter of such deposit shall be reckoned at the end, for the
purpose of calculation of interest.
The MBTD account can be opened with a minimum deposit of 100/- as initial deposit
and thereafter in multiples of Rupee one (Re.1/-) with maximum amount of
99,99,999/-.
For any period 180 days to 120 months, even for incomplete quarters, such as, 13
months, 14 months, 37 months & 16 days and so on. For obtaining quarterly
compounding of interest the customer has to opt for a minimum period of six
months.
The rate of interest shall be CARD rates and payable in accordance with the circulars
issued by the Bank from time to time.
The change in option will be allowed provided:
1) In case the depositor desires to exercise the option of conversion to any other
Term Deposit Scheme before maturity, Incumbent In-charge on the request from
the depositor can allow conversion provided the depositor agrees to continue the
deposit with the Bank, for a term longer than the remaining period of the original
contract.
2) Conversion of the deposit may be effected only from the date on which the
conversion is sought for by the depositor, (and not from any retrospective date),
without invoking penal provisions.
3) The rate of interest up to the date of conversion, shall be the rate applicable for
the period as operative on the date of deposit, during which the deposit remained
with the bank, up to the date of conversion and in respect of the period
thereafter, at the rate of interest applicable on the date of conversion for the
period equal to the period of conversion
Deposit Receipt shall be auto renewed in case the depositor has given mandate for
auto renewal of Multi Benefit Term Deposit Receipt on the AOF.
1. Overdue Term Deposits are to be renewed on the date of presentation and not to
be renewed from retrospective date.
2. The appropriate prevailing rate of interest shall be applicable from the date of
renewal of the FDR.
3. Interest for the overdue period is to be paid at Savings Bank rate of interest as
applicable from time to time, presently being 4% on the methodology as
Premature
Renewal:
Premature
Withdrawal
At
Par
Collection/
Payment
of
Term Deposit:
Demand Loan
/Overdraft
facility
applicable to Saving Bank account from time to time.

4. Interest on Overdue Term Deposits is not subjected to Tax Deduction at Source
in terms of section 194A of the Income Tax Act, 1961. However, in the cases
where the said overdue deposits are renewed further, the interest on such
renewed term deposits will be subjected to same provisions of TDS applicable in
the case of any other new/fresh terms deposits.
Premature renewal of Term Deposit / extension in the period of term deposit before
maturity shall not be regarded as premature payment of the deposit, provided the
deposit is held by the Bank after the date of renewal for a period longer than the
remaining period of the original contract. Interest accrued up to the date of
extension may be paid. (A note to this effect will be recorded in the system and
VAYTDR as well) In such cases, extension shall not be done with retrospective
effect. It shall be effected only from the date on which the extension is sought for by
the depositor without invoking any penal provisions. The rate of interest up to the
date of presentation shall be the rate applicable for the period, during which the
deposit remained with the Bank, for the period thereafter, at the rate of interest as
operative on the date of request for premature renewal shall be applicable for the
period equal to the period of extension/renewal. In such cases:
i) Interest accrued, if any, up to the date of extension may be paid and
ii) Excess payment of interest, if any, should be recovered from the term
deposit, before complying with his instructions.
Levy of 1.00% penalty at the time of part-withdrawal/pre-mature cancellation and the
interest rate payable would be contractual rate minus 1.00% OR the rate under the
scheme on the contractual date applicable for the tenor for which the deposit has
actually run minus 1.00%, whichever is lower. However, no penalty is to be levied if
the deposit is prematurely closed for the purpose of investment to any other term
deposit scheme of the bank provided that the deposit remains with the bank after
reinvestment for a period longer than the period of the original contract.
Note: Staff Members and Senior Citizens (except their term deposits if any,
accepted by Bank on DRI basis), instances of death of the depositor before
maturity, would continue to be exempted from the levy of penal cuts.
Payment of Term Deposit on Maturity: All deposit receipts shall be payable At
Par on maturity at all CBS branches, i.e., no inter-sol transaction charges of any
nature including cash withdrawal of such TDRs either directly or through
savings/current account, etc., will be levied at the time of payment. The handling
of Inter sol charges shall be handled procedurally in the branches.
Premature Payment related to Term Deposit: In case, customer requires
premature payment in respect of the Term Deposit, it would be entertained only
by the Base Branch i.e. the branch which has issued this Term Deposit.
Collection of Term Deposits: On/before maturity be undertaken At Par at all
branches.
Deposits for 10,000/- and above on written request shall be eligible for Demand
Loan/overdraft facility. The depositors in need of overdraft facility, the same shall be
permitted to avail the facility through an Overdraft Account and a Cheque Book will
be issued to the depositor on the same day. However, the actual drawings from the
overdraft account will be allowed from the account on the subsequent day in case a
Margin
Miscellaneous
Term deposit has been issued on the date on which the OD facility is sought.
Overdraft facility shall not be available in the account opened in the name of
illiterate or a blind person.
The margin on the amount of overdraft against the deposit shall be governed by the
circulars issued from time to time by RMD-HO.
The depositor shall maintain an operative Saving Fund Account/Current Account
with the bank wherever required.
22. PNB DUGNA DEPOSIT SCHEME (RMD Cir. No. 61/2013 dtd. 30/07/2013)
Purpose
Eligibility
Amount
Deposit
Period
Deposit
Rate
Interest
of
of
Of
Interest is re-invested on the deposit amount (quarterly compounded) without income

option.
Individual (singly or jointly) with others.
Minors who have attained the age of 10 years and above in his own name on
giving proof of age.
Minors under guardianship of natural/legal guardian.
Proprietorship/partnership firm, commercial organization, company /corporate
body.
Hindu Undivided Family.
Association, club, society, trust or religious/charitable or educational institution.
Municipality or Panchayat, Government or quasi-government body.
Illiterate and blind persons can also open accounts.
NRO account may be opened under the Scheme for NRI customers
Minimum Rs. 5000/- (maximum Rs. 1 Crore per day), in multiples of Re.1/99 Months, subject to change with the change in rate of interest time to time
prescribed by the Bank.
(Compounded quarterly) - Card rate subject to change from time to time.
Preferential Rate of interest as applicable to Staff and Senior Citizen/Senior Citizen
(Staff) will be paid.
Nomination
Available as per extant guidelines of the Bank
Auto Renewal
The auto renewal of the fixed deposit is permitted at applicable card rate of interest at
the time of maturity
The penalty clause for premature cancellation of Domestic Term Deposits is under:
COMPLETED TENOR OF TERM DEPOSIT
Levy of 1.00% penalty at the time of pre-mature cancellation and the
interest rate payable would be the card rate applicable minus 1.00% OR the
contractual rate on which FDR is made under the scheme minus 1.00%,
whichever is lower.
Note: Staff Members, Senior Citizens and instances of death of the depositor
before maturity would continue to be exempted from the levy of penal cuts.
Premature
Payment
At
Par
Collection of
FDRs
Demand
Loan/
Overdraft
Margin
Collection/Payment of FDR on Maturity: All deposit receipts shall be

collectable/payable at par at all branches and payable at par on maturity at any
CBS branch i.e. no inter-sol transactions charges of any nature including cash
withdrawal of such FDRs either directly or through savings/current account etc,
will be levied at the time of payment.
Other Transactions related to FDR before its due date: All other issues except
payment/collection of FDRs shall be handled at BASE Branch only.
The guidelines issued by RMD from time to time will be applicable. However, the
option/facility of overdraft/loan shall not be available in the account opened in the
name of minor in their individual capacity.
23. VARSHIK AAY YOJANA (VAY) DEPOSIT SCHEME

(RMD Master circular 24/13 DATED 14.09.2013)
Eligibility
guardian,
Proprietorship/Partnership Firm, Commercial Organization, Company / Corporate
Body,
Institutions,
Illiterate and blind persons can also open the account.
Amount
of 10,000/- and in multiples of 1000/- thereof. The maximum amount permitted under
the scheme is 99, 99,000/deposit
Tenor
of The deposit will be accepted for 24, 36, 48, 60, 72, 84, 96, 108 & 120 months only at
the option of the depositor.
Deposit
Rate
Of The rate of interest shall be CARD rates and payable in accordance with the circulars
Interest
Conversion
i. In case the depositor desires to exercise the option of conversion to any other
contract. Conversion of the deposit may be effected only from the date on which
the conversion is sought for by the depositor, (and not from any retrospective
date), without invoking penal provisions.
ii. The rate of interest upto the date of conversion, shall be the rate applicable for
with the bank, upto the date of conversion and in respect of the period thereafter,
at the rate of interest applicable on the date of conversion for the period equal to
the period of conversion.
Auto Renewal
Overdue
Deposit
Renewal
Non renewal
of
overdue
deposits
Premature
Renewal:
Extension in
the period of
deposit
BEFORE
MATURITY
of a term
deposit
Premature
Withdrawal
Interest accrued, if any, upto the date of conversion may be paid and excess
payment of interest, if any, should be recovered from the Term Deposit, before
complying with his instructions.
The Varshik Aay Yojana Deposit Receipt shall be auto renewed in case the depositor
has given mandate for auto renewal of Varshik Aay Yojana Deposit Receipt on the
AOF. The deposit shall be auto renewed in terms of guidelines issued vide RMD, HO:
Circular no. 13 dated 11.02.2013.
renewal of the FDR.
If the depositor does not opt for renewal of Overdue Term Deposit, interest shall be
allowed as per savings bank rate of interest as applicable from time to time, presently
being 4% p.a. Interest would be calculated on Simple basis and would be payable
w.e.f. 22.08.2008 or the date of maturity whichever is later for the overdue period
along with the maturity proceeds of the matured term deposits.
(i) Interest accrued, if any, up to the date of extension may be paid and
(ii) Excess payment of interest, if any, should be recovered from the term deposit,
before complying with his instructions.
At
Par
Collection/
Payment
of
Term Deposit
Demand Loan
/
Overdraft
facility
Margin
Miscellaneous
maturity, would continue to be exempted from the levy of penal cuts.
Collection of Term Deposits: Collection of Term Deposits (on/before maturity)
be undertaken At Par at all branches.
The depositor shall maintain an operative Saving Fund Account/Current Account with
the bank wherever required.
24. ORDINARY
09.09.2013)
Eligibility
Amount of Deposit
Tenor of Deposit
DEPOSIT
SCHEME
(RMD
Master
circular
21
dated

Minor who have attained the age of 10 years and above in his own
name on giving proof of age by his guardian or any reliable source
or through his natural/legal guardian,
Proprietorship/Partnership
Firm,
Commercial
Organization,
Company / Corporate Body,
Association, Club, Society, Trust or Religious/Charitable or
Educational Institutions,
Municipality or Panchayat, Government or Quasi-Government
Body.
The Term Deposit Ordinary (TDO) account can be opened with a
minimum deposit of 100/- as initial deposit and thereafter in multiples
of Rupee one (1/-) with maximum amount of 99,99,999/-.
For any period from 7 days to 179 days
Rate Of Interest
Conversion
Auto Renewal
Overdue Deposit
Premature
Renewal:
Extension in the period of
deposit
BEFORE
MATURITY of a term
deposit
Premature Withdrawal
At
Par
Collection/
Payment of Term deposit
Demand
facility
Margin
Loan/over-draft
The rate of interest shall be CARD rates and payable in accordance with
the circulars issued by the Bank from time to time.
Same as defined under Varshik Aay Yojana above
If any depositor desires to withdraw the deposit before maturity, Bank

may at its discretion repay the deposit with up to date interest as per the
option exercised by the depositor at the time of deposit, less applicable
penalty as circulated from time to time.

The margin on the amount of overdraft against the deposit shall be
governed by the circulars issued from time to time by RMD-HO.
25. ANUPAM TERM DEPOSIT SCHEME (In Built Overdraft Facility)

(RMD Master Cir. No. 59 dated 26.07.2013)
Anupam Account Scheme may be opened in the name of individual(s), sole
Eligibility
proprietorship concern, partnership firm, association, trust, Ltd. Company etc.
However, Anupam Account shall not be opened in the name of minor, illiterate and
blind persons
Amount
of Minimum : Rs. 10,000/- and in multiples of Rs. 1000/- thereof.
Maximum : Rs. 99,99,000/-.
Deposit
Tenor
of For any period from 6 months to 120 months. Existing deposits under PNB Spectrum
(Maturity option) for Rs. 10,000/- and above with unexpired term of 6 months or more
Deposit
are eligible for transfer to Anupam Account Scheme.
Rate
Of The rate of interest on Anupam Term Deposit shall be CARD rates and payable in
accordance with the Circulars issued by the Bank from time to time.
Interest
For allowing overdraft facility a request letter as per Annexure-B (given in the
Overdraft
Circular) will be obtained along with AOF PNB-1084(A) for allowing overdraft (CA)
Facility
facility under PNB Anupam Term Deposit Scheme from the customer. Overdraft
facility shall be permitted through a Current Account and a Cheque Book will be issued
to the depositor on the same day. However, the actual drawings from the overdraft
account will be allowed from the account on the subsequent day. Branch Manager may
permit DP against the interest accrued on deposit also. The Drawing Power (D.P.) is to
be entered through SRM which has to be done procedurally in the branches. The Rate
of interest to be charged on OD against Anupam Term Deposit shall be as per L & A
Circulars issued by IRMD:HO from time to time. Presently it is as under:Particulars
Rate of interest
Rupee Loans and Advances against 2% above the rate allowed on
Term Deposits standing in the name deposits
of
individual
borrower (As per L&A Cir. 48/2014)
(singly/jointly or as a guardian)
including NRE deposits.
Rupee Loans & Advances against 2% above the rate allowed on
Term Deposits standing in the name deposit
of the borrower other than (As per L&A Cir. 48/2014)
individuals
e.g.
Partnership
concerns,
Societies,
Trusts,
Public/Private Ltd. Cos etc.
Overdraft facility is allowed against the security of Term Deposit and is inbuilt in the
scheme, hence the sanction is accorded by the Incumbent Incharge. Incumbents
Incharge of all branches have been granted full powers for sanctioning of overdraft
limit in Anupam Account. The formal sanction need not be obtained separately. The
attestation of AOF done by the Manager/Incumbent Incharge may be deemed sanction
of overdraft limit. Hence, such OD facilities need not be reported/entered in limit
sanctioned statement (LSS) and documents register.
Margin
Third
Advance
Party
Facility of further
Term Deposits in
the same Anupam
Account
The margin on the amount of overdraft against the deposit shall be governed by L
& A Circulars issued by IRMD-HO from time to time. Presently, as per
guidelines contained in L&A Cir. 5/2014, the margin is to be maintained as
under:Maturity period remaining at the time of Margin
granting advances
%
Upto 3 years
7.5
Above 3 years and upto 4 years
10.0
Above 4 years and upto 5 years
12.5
Above 5 years
20.0
For Members of Staff and honourably retired ex-members of staff/widow of
staff:
Advance upto Rs. 3 lac 5%
Advance above Rs. 3 lac - As applicable to Public
No third party advance is allowed under Anupam Account. Even the overdraft
facility to a proprietorship firm against Term Deposit in the name of its proprietor
shall not be allowed. The title of Term Deposit and Overdraft Account should be
the same. This is to be handled procedurally in the branches.
Further Term Deposits can be accepted in the same Anupam Account on taking
letter of request and the limit in the overdraft account be increased accordingly
against the additional deposit and it will also be endorsed in the Receipt Form with
the customer.
Renewal of Term
Deposit
on
Maturity
Maturity proceeds/
overdue deposits
Period of Payment
of Interest
Renewal of Term Deposit is permitted at customer's request, only if no overdraft is

outstanding against it or overdraft account shows credit balance at the time of
renewal of Term Deposit.
At the time of payment of deposit the proceeds should invariably be credited to
OD account. This will ensure reduction/cancellation of limit allowed/closure of
linked OD account and return of unused cheque leaves at the time of final closure
of Anupam Account by the depositor.
Overdraft/Loan must be liquidated out of the proceeds of the deposits and in no
case Term Deposit under the Scheme should be renewed where the overdraft
allowed against it is outstanding.
On completed quarter basis interest is to be credited in the month of
March/June/September/ December every year.
26. PNB SUGAM TERM DEPOSIT SCHEME (RMD Cir. No. 60 dated 27.07.2013)
Individual (singly or jointly) with others.
Eligibility
Minor who have attained the age of 10 yrs. & above in his own name on giving
guardian.
Proprietorship/Partnership Firm/Commercial Organizations/Company/Corporate
Body/Hindu Undivided Family/Association/Club/Society/Trust or Religious
Charitable and Educational Institutions/Municipality/Panchayat/Government/
Quasi-Government Body.
Initial Deposit To open Sugam Term Deposit : Minimum Rs.10000/- and thereafter in multiples of
Re.1/- with Maximum of Rs.10 Crore.
Tenor
of From 46 Days to 120 Months, even for incomplete quarters, such as, 13 months, 14
months, 37 months & 16 days and so on.
Deposit
Rate
Of Deposits less than Rs.1 Cr. CARD rates applicable to deposits less than Rs.1 Crore
Deposits from Rs.1 Cr. to Rs.10 Cr. Rates applicable to deposits of Rs.1 Crore to
Interest
Rs.10 Crore. However, if any deposit falls below Rs. 1 Crore due to partial
withdrawal then rate as applicable for deposits below Rs. 1 Crore is to be made
applicable from the date of such withdrawal due to which the Principal amount of
Sugam Deposit amount reduced to below Rs.1 Crore deposit. This is to be handled
by modifying the A/C preferential (Cr.) field accordingly. The depositor has the
option to draw interest monthly/quarterly or on maturity. Interest shall be paid on
compounded basis with quarterly rests if the period of deposit remained with the Bank
is 6 months and above.
Conversion
contract.
Auto Renewal
Overdue
Deposit:
period equal to the period of conversion.
Deposit Receipt shall be auto renewed in case the depositor has given mandate for auto
renewal of Sugam Term Deposit Receipt on the AOF.
renewal of the FDR.
Premature
Renewal:
Premature
Withdrawal
remaining period of the original contract. Interest accrued up to the date of extension
may be paid. (A note to this effect will be recorded in the system and VAYTDR as
well) In such cases, extension shall not be done with retrospective effect. It shall be
effected only from the date on which the extension is sought for by the depositor
without invoking any penal provisions. The rate of interest up to the date of
presentation shall be the rate applicable for the period, during which the deposit
remained with the Bank, for the period thereafter, at the rate of interest as operative on
the date of request for premature renewal shall be applicable for the period equal to the
period of extension/renewal. In such cases:
ii) Excess payment of interest, if any, should be recovered from the term
deposit, before complying with his instructions..
The depositor has the facility to withdraw any amount before maturity in multiples
of 1000 any time whenever he needs it without breaking the entire deposit and
without losing interest on the remaining deposit under the scheme. The value of
Term Deposit Receipt (Principal amount) shall be reduced accordingly.
No penalty is to be levied in respect of the part withdrawal of deposit in multiples of
1000/- before maturity.
Further, even if any depositor desires to withdraw the entire deposit before maturity,
At
Par
Collection/
Payment
of
Term Deposit:
Demand Loan
/Overdraft
facility
Margin
no penalty will be levied and the interest rate payable would be contractual rate or
the rate under the scheme on the contractual date applicable for the tenor for which
the deposit has run, whichever is lower.
User has to modify collect penal interest flag as N while closing the Account.
(a) Payment of Term Deposit ON MATURITY: All deposit receipts shall be payable
At Par on maturity at all CBS branches, i.e., no inter-sol transaction charges of any
nature including cash withdrawal of such Sugam TDRs either directly or through
savings/current account, etc., will be levied at the time of payment. Intersol charges
are to be handled procedurally.
(b) Payment/Other Transactions related to Term Deposit before its due date: In
case, customer requires any other transaction in respect of the Term Deposit other than
its payment on due date, it would be entertained only by the Base Branch i.e. the
branch which has issued this Term Deposit. To illustrate, Loans/Overdraft against Term
Deposit/Conversion/ Change of option/Change of Base Branch i.e., transfer of
account to any other CBS branch/Payment of Term Deposit/Cancellation of Term
Deposit before maturity, etc., such type of requests, if received from customers, shall
be entertained only at the issuing CBS (BASE) Branch only.
Deposits for Rs.10,000/- and above on written request shall be eligible for Demand
permitted to avail the facility through an Overdraft Account and a Cheque Book will be
issued to the depositor on the same day. However, the facility of Overdraft will not
be available in the accounts opened in the name of Illiterate / Blind persons.
The margin on the amount of overdraft against the deposit shall be governed by L & A
Circulars issued by Integrated Risk Management Division:HO, from time to time.
27. NRE RUPEE SUGAM TERM DEPOSIT SCHEME
(RMD Master Cir. 73/2014 dated 28.8.2014)
Eligibility
Amount
of
Deposit
Period of F.D.
NRIs Individuals in single or joint capacity

Minimum : Rs. 10000/Maximum : No Limit and renewal in multiple of Re.1/Minimum : One year and Maximum : 10 years
Rate
Of
Interest
Auto renewal
Rates of Interest as prevailing on different maturities under NRE Rupee Global Deposit
Scheme will be applicable.
Permitted as per mandate of the depositor.
Premature
Withdrawal
of Rs.1000/- any time whenever he needs it without breaking the entire deposit and
without losing interest on the remaining deposit under the scheme. However, the
Residual amount should not go below Rs. 10,000/- after part withdrawal.
Rs.1000/- before maturity.
Withdrawal amount should be credited to the NRE/NRO account of the depositor.
If the part-amount desired to be withdrawn did not run for the minimum stipulated
maturity slab (viz. one year, at present) under the NRE Term Deposit, no interest
will be paid on the withdrawn amount.
Full
withdrawal
Payment
of
Interest
No penalty shall be levied on part / full withdrawal of the deposit before maturity on the
similar lines of Domestic Sugam Deposit Product.
INCOME OPTION : The depositor has the option to draw interest Monthly/Quarterly
basis. However the interest will only be credited in the NRE/NRO saving account. In
case the deposit is withdrawn before one year, the interest paid will be recovered from
the principal as no interest is payable in such cases.
REINVESTMENT/MATURITY OPTION : The Interest calculated as per quarterly
compounding may be credited to the depositors Term Deposit account as on the end of
each calendar quarter if the deposit remained with the Bank for one year and above.
28. NRO SUGAM TERM DEPOSIT SCHEME

(RMD Circular : 13 dated 20.01.2014)
The Non-resident Indians (NRIs) are permitted to open and maintain the accounts.
Eligibility
Non-Resident Indian (NRI) means a person resident outside India who is a citizen
of India or is a person of Indian origin. The account should be opened by the nonresident account holder himself and not by the holder of power of attorney in India.
NRO A/c cannot be opened in the name of Overseas Corporate Bodies (OCBs).
(A) Non-Resident Indian National : Non-resident Indian nationals generally fall under
the following broad categories:i) Indian citizens who stay abroad for employment or for carrying on any business or
vocation or for any other purpose, in circumstances indicating an indefinite period of
stay outside India.
ii) Indian citizens working abroad on assignment with Foreign Government,
Government Agencies or International/Multinational agencies like United Nations
Organization (UNO), International Monetary Fund (IMF), World Bank (IBRD), etc.
iii) Officials of Central and State Governments and Public Sector Undertakings
deputed abroad on assignments with foreign governments/agencies/organizations or
posted to their own offices (Including Indian Diplomatic Missions) abroad.
Note: Non-resident Indians become residents of India only when they come to India
for employment or for carrying on in India any business or vocation or for any other
purpose indicating an indefinite period of stay in India. They are not regarded as
persons resident in India during their short visits to India for holiday, business, etc.
(B) PERSONS OF INDIAN ORIGIN
A foreign citizen (not being a citizen of Pakistan or Bangladesh) is deemed to be a
person of Indian origin if,
i) He, at any time, held an Indian passport, or
ii) He or either of his parents or any of his grandparents was a citizen of India, by virtue
of Constitution of India or Citizenship Act, 1955 ( 55 of 1955) or
iii) the person is spouse of an Indian citizen or a person referred to in sub clause 1) or 2)
(C) FACILITIES FOR STUDENTS
i) Students going abroad for studies are treated as Non-Resident Indians (NRIs) and are
eligible for all the facilities available to NRIs under FEMA.
ii) All other facilities available to NRIs under FEMA are equally applicable to the
Joint Account
Nomination
Amount
Deposit
Tenor
Deposit
Rate
Interest
of
of
Of
Auto Renewal
Extension
Period
Premature
Withdrawal
in
Students.
Accounts may be held jointly with residents and/or with non-residents.
Nomination is allowed in Non-Resident Ordinary Sugam Term Deposit Account in
favour of a Resident or Non-Resident.
Minimum : Rs.10000/- as initial deposit and thereafter in multiples of Re.1/Maximum : Rs. 10 Crore.
For any period from 46 days to 120 months, even for incomplete quarters, such as, 13
months, 14 months, 37 months & 16 days and so on.
1) If Deposit is < than Rs.1 Cr. CARD rates applicable to deposits < than Rs. 1 Cr.
2) Deposits from Rs.1 Cr. to Rs.10 Cr. Rates applicable to deposits of Rs.1 Cr to
Rs.10 Cr. However, if any deposit falls below Rs.1 Crore due to partial withdrawal
then rate as applicable for deposits below Rs.1 Crore is to be made applicable
from the date of such withdrawal due to which the Principal amount of Sugam
Deposit amount reduced to below Rs.1 Crore deposit. This is to be handled by
modifying the A/C preferential (Cr.) field accordingly. The depositor has the
option to draw interest monthly/quarterly or on maturity. Interest shall be paid on
compounded basis with quarterly rests if the period of deposit remained with the
Bank is 6 months and above.
3) No additional interest shall be paid on NRO deposits in the name of members
of staff (Existing or Retired) or Senior Citizen.
Deposit Receipt shall be auto renewed in case the depositor has given mandate for auto
renewal of NRO Term Deposit prepared under the scheme and at the time of payment
of such Term Deposit, customer would be required to submit duly discharged
Confirmation of Deposit (CD) in original, or duplicate, issued (in lieu of original one),
if any.
Extension in the period of deposit before maturity of the Term Deposit : Extension
in period of Term Deposit shall not be regarded as premature payment of the deposit,
provided the deposit is held by the Bank after the date of renewal for a period longer
than the remaining period of the original contract.
Interest accrued up to the date of extension may be paid at the time of maturity of the
fresh receipt so issued. In such cases, extension shall not be done with retrospective
effect. It shall be affected only from the date on which the extension is sought for by the
depositor without invoking any penal provisions. The rate of interest up to the date of
presentation shall be the rate applicable for the period, during which the deposit
remained with the Bank, for the period thereafter, at the rate of interest as operative on
the date of request for premature renewal shall be applicable for the period equal to the
period of extension/renewal. In such cases:
ii) Excess payment of interest, if any, should be recovered from the term deposit,
before complying with his instructions.
(iii) The noting of premature renewal on the confirmation of deposit is to be handled
manually.
of Rs.1000/- any time whenever he needs it without breaking the entire deposit and
At
Par
Collection/
Payment
of
Term Deposit:
Account
opening form
without losing interest on the remaining deposit under the scheme. The value of
Term Deposit Receipt (Principal amount) shall be reduced accordingly.
Rs.1000/- before maturity.
Further, even if any depositor desires to withdraw the entire deposit before maturity,
no penalty will be levied and the interest rate payable would be contractual rate or
the rate under the scheme on the contractual date applicable for the tenor for which
the deposit has run, whichever is lower.
User has to modify collect penal interest flag as N while closing the Account.
(a) Payment of Term Deposit on Maturity : All deposit receipts shall be payable At
Par on maturity at all CBS branches.
(b) Payment/Other Transactions related to Term Deposit before its Due Date: In
case, customer requires any other transaction in respect of the Term Deposit other than
its payment on due date, it would be entertained only by the Base Branch i.e. the
branch which has issued this Term Deposit. To illustrate, Loans/Overdraft against Term
Deposit/Conversion/ Change of option/Change of Base Branch i.e., transfer of
account to any other CBS branch/Payment of Term Deposit/Cancellation of Term
Deposit before maturity, etc., such type of requests, if received from customers, shall
be entertained only at the issuing CBS (BASE) Branch only.
Form No. FEX 111 for opening Non-Resident Ordinary Sugam Term Deposit Account
29. PNB TAX-SAVER DEPOSIT SCHEME (RMD master cir.78 dated 01.09.2014)
A scheme for the investors desirous of availing tax benefits under Sec. 80 C (2)
Purpose
(xxi) of the Income-tax Act.
Individuals (Including illiterate, blind persons), singly or jointly, and HUF
Eligibility
The joint holder deposit receipt may be issued jointly to two adults or
jointly to an adult and a minor, and payable to either of the holders or to the
survivor. The deduction from income under section 80C of the Act shall
be available only to the first holder of the deposit.
Minimum 100/- or in multiples thereof, subject to maximum deposit of 1.50
Amount
Lac per year* (Year means a year commencing on the 1st day of April).
Minimum 5 years - maximum 10 years
Incomplete quarters period
Period
permitted (say, 82 months, 95 months and 16 days & so on).
Lock-in
5 years
Options
Income Option (Outflow of Interest)
The interest may be paid on monthly/quarterly/half yearly/yearly basis. The
payment of interest on quarterly basis shall be made on simple rate of
interest. The monthly interest will be paid at discounted value, whereas,
interest shall be quarterly compounded in case of half-yearly and yearly
payment of interest.
Maturity Option (Re-Invested Interest)
The interest shall be compounded on quarterly basis and will be payable on
maturity of deposit only. The incomplete quarter of such deposit shall be
reckoned at the end, for the purpose of calculation of interest.
The term deposit receipt issued under the scheme shall bear the name, address,
Permanent Account Number (PAN) and signature of the depositor.
The rate of Interest shall be payable in accordance with the circular issued from
Interest
time to time, *Note: In case of staff members as well as retired staff members
who are also Senior Citizen, maximum rate of interest to be allowed is 100 bps
over the applicable card rates.
Nomination facility is available and is applicable as in case of other term
Nomination
deposit schemes.
Part withdrawals and premature withdrawal before the lock in period (5
Pre-mature payment
years) is NOT ALLOWED.
In case of death of the depositor before the maturity of term deposit, levy of
penalty would be exempted and nominee/legal heir will be allowed premature
payment even before the lock-in-period as per rules.
Deposit receipt NOT to be lien/pledged as security before the expiry of the
Loan / Advance
Lock in Period of 5 years. After the expiry of lock in period, if loan is availed
by the depositor(s), under the scheme, The rate of interest to be
charged and margin to be kept on the amount of overdraft/loan allowed against
the deposit is similar to FD schemes and shall be governed by L&A Circulars
issued on the subject from time to time.
Replacement of lost/ Issue of duplicate receipt on furnishing an indemnity bond with one or more
sureties, acceptable to the Bank or with a bank guarantee as per the case, after
destroyed FDR
verification of complete incident of such loss, theft, destruction, mutilation or
defacement of the receipt.
If the face value or the aggregate face value of the receipt or receipts is five
hundred rupees or less, a duplicate receipt or receipts can be issued to the
depositor, furnishing an indemnity bond without any surety or guarantee.
A duplicate receipt can also be issued without any such indemnity bond, surety
or guarantee, if the receipt mutilated or defaced is surrendered and the receipt is
capable of being identified as the one originally issued by the branch.
The duplicate receipt shall be treated as equivalent to the original receipt for all
the purposes of this scheme except that it shall not be encashable at a branch
other than the branch at which such receipt is issued, without proper
verification.
At Par Collection of the FDRs on or before maturity at all branches
Other
Payment of FDRs issued by CBS branches at any CBS branch on maturity
only.
Interest on these term deposits shall be liable to tax under the Income tax
Act.
FDR can be made transferable at branch other than issuing branch
PAN
30. SENIOR CITIZEN SAVINGS SCHEME, 2004 (As per RBI guidelines)
Tenure
5 years, which can be extended by 3 more years
Authorization
Interest
Amount & Mode of

Deposit
Minimum
Eligible
Age for Investment &
Nomination
All PSU Bank branches which are operating PPF Scheme, 1968 are
authorized to operate this scheme effective from November 1, 2004.
9.20% p.a. is computed on quarterly basis. Interest is fully taxable and Tax is
Deductable at Source (TDS) on interest income as per existing Bank
guidelines. No rebate available under Wealth/I.Tax. Even Tax will be deducted
at source before making payment of interest to legal heirs of Account Holder.
Minimum Investment : Rs. 1000 /- and in multiples of Rs. 1000/-.
Maximum Investment : Rs. 15 lacs.
There is, however, no bar on the depositors for opening of new/multiple
accounts within the overall ceiling of Rs. 15 lac. Cash Deposit can be accepted
upto Rs. 1 Lac only otherwise in Electronic Mode if Deposit office is working
on Core Banking Solution Platform. (GBD Cir. GB:109/2014 dt.21.7.2014).
60 years (55 years for those who have retired on superannuation OR under
VRS / Special Voluntary Scheme). The retired personnel of Defence Services
(excluding Civilian Defence Employees) will be eligible to invest irrespective
of the age limits subject to the fulfillment of other specified conditions.
Nomination facility is available in this account & more than one Nominee can
be appointed by the Account Holder.
Available after 1 year of holding, but with penalty.
Pre-mature Closure /
withdrawal facility
Both the Spouses can open individual and/or joint accounts with each other
Joint
with the maximum deposit up to Rs. 15 Lac each, provided both are
individually eligible to invest under relevant provisions of the rules governing
the scheme.
The branches will remit the amount of subscriptions under SCSS -2004 to
Other
the Link Cell at Nagpur on daily basis for credit to the Government
Account at Central Accounts Section, Reserve Bank of India, Nagpur.
Remittance of subscription for credit to Government Account beyond 3
days from the date of receipt would attract penal interest at the coupon rate.
Deposit under this scheme is neither transferable nor tradable.
31. PNB GROWTH FIXED DEPOSIT SCHEME FOR SINGLE DEPOSIT OF RS. 1 CR. TO
RS. 10 CR (RMD Circular 38/2013 dated 13.05.2013)
Individual (singly or jointly) with others
Eligibility
Minors who have attained the age of 10 years and above in his own name on
giving proof of age by his guardian or any other reliable source or through
his natural/legal guardian.
Proprietorship/partnership firm, commercial organization, company/
corporate body.
Association, club, society, trust or religious/charitable or educational
institution.
The illiterate and blind persons can also open the account.
For single deposits of Rs. 1 Cr to Rs. 10 Cr and rates for the same shall be
Objective
Deposit Amount
Option
Change
Period
Pre-mature payment
/ Part Withdraw
given by IRMD-HO.
Minimum Rs. 1.00 crore, and thereafter in multiples of Re 1/- and
Maximum upto Rs. 10.00 crore only
Single fixed deposit of Rs. 1 Cr to Rs. 10 Cr taken at card rate will be
classified under PNB GROWTH FIXED DEPOSIT SCHEME (Core)
single fixed deposit of Rs. 1 Cr to Rs. 10 Cr taken at DRI rate will be
classified under PNB GROWTH FIXED DEPOSIT SCHEME (DRI)
(a)Income Option
i) The interest may be paid on monthly/quarterly or on maturity of the
deposit.
ii) The monthly interest will be paid at discounted value whereas the same
shall be quarterly compounded in case of half-yearly and yearly payment
of interest.
(b) Maturity Option (Re-investment of interest on quarterly compounding
basis)
i) Interest shall be compounded on quarterly basis and is payable on
maturity of deposit.
ii) The incomplete quarter of such deposit shall be reckoned at the end, for
the purpose of calculation of interest.
Conversion permitted provided :
The fixed deposit receipt has been issued for a period of 12 months or more
and remaining period of the FD till maturity is 6 months and above.
Conversion of the deposit may be effected only from the date on which the
conversion is sought for by the Depositor, (and not from any retrospective
date), without invoking penal provision.
The rate of interest upto the date of conversion, shall be the rate applicable
for the period as operative under the scheme on the date of deposit, during
which the deposit remained with the Bank upto the date of conversion and in
respect of the period thereafter, at the rate of interest applicable under the
scheme on the date of conversion for the period equal to the period of
conversion.
Income Option: For any period from 6 months to 120 months.
Maturity Option: For any period from 7 days to 120 months.
Premature withdrawal: Pre-mature cancellation of FDRs accepted under the
scheme, the rate contracted at the time of FDR shall not be paid to the
customer.
In such cases, the penal cut of interest would be 1%, and the interest rate
payable would be contractual rate under the scheme minus 1% OR the rate
under the scheme on the contractual date applicable for the tenor for which the
deposit has actually run minus 1%, whichever is lower
Part withdrawal: Available only under MATURITY OPTION, i.e, the
Depositors who have exercised the option of being paid the proceeds of their
FDR on the date of maturity as compared to periodical payment of interest. The
depositor shall have free access to deposit, and can withdraw any amount (but
core amount of minimum Rs 1 Crore shall be maintained in the account) in

multiples of Rs.1,00,000/- before maturity without breaking the entire deposit
without any loss of interest on the remaining deposit, which shall continue to get
interest as agreed at the time of making the deposit. The principal value of the
FDR shall be reduced accordingly.
Pre-mature renewal
The rate of interest in respect of deposit withdrawn before maturity shall be the
interest rate payable on contractual rate under the scheme minus 1% OR the
rate under the scheme on the contractual date applicable for the tenor for which
the deposit has actually run minus 1%, whichever is lower. In all such cases,
interest up to completed quarters shall be paid on compounded basis with
quarterly rests and on simple basis for incomplete quarter up to the date of
payment, for the period for which the deposit remained with the Bank.
Extension in the period of deposit before maturity : shall not be regarded as
premature payment of the deposit, provided the deposit is held by the Bank
after the date of renewal for a period longer than the remaining period of the
original contract.
The auto renewal of the fixed deposit shall be carried out by the system on
maturity under this scheme itself, where customer has not given any
instruction to the contrary. The FDR shall be auto renewed as per instruction of
the customer, at the rate applicable on the date of maturity under the scheme
only.
At PAR Collection of Fixed Deposit Receipt. Payable at all CBS branches
Other
(Only on Maturity). Payment/Other Transactions related to FDR before its
due date shall be handled at BASE Branch only.
The auto renewal of the fixed deposit shall be carried out by the system on
maturity under this scheme itself, where customer has not given any
instruction to the contrary.
Advance/overdraft available. However, the option/facility of overdraft/loan
shall not be available in the account opened in the name of minor.
32. PNB BULK FIXED DEPOSIT SCHEME
FOR SINGLE DEPOSIT OF ABOVE RS. 10 CRORES
(RMD Circular 37/2013 dated 13.05.2013)
Individual (singly or jointly) with others
Eligibility
Minors who have attained the age of 10 years and above in his own name
on giving proof of age by his guardian or any other reliable source or
through his natural/legal guardian.
Proprietorship/partnership
firm,
commercial
organization,
company/corporate body.
Association, club, society, trust or religious/charitable or educational
institution.
The illiterate and blind persons can also open the account.
Auto renewal
Option
Period
Deposit Amount
Auto renewal
Pre-mature renewal
Part Withdrawal
Extension in period
Pre-mature Withdraw
Advance/OD
Other features
(a)Income Option
i) The interest may be paid on monthly/quarterly or on maturity of the
deposit.
ii) The monthly interest will be paid at discounted value whereas the
same shall be quarterly compounded in case of half-yearly and yearly
payment of interest.
(b) Maturity Option (Re-investment of interest on quarterly
compounding basis)
i) Interest shall be compounded on quarterly basis and is payable on
maturity of deposit.
ii) The incomplete quarter of such deposit shall be reckoned at the end,
for the purpose of calculation of interest.
a) Maturity Option: For any period from 7 days to 120 months.
b) Income Option: For any period from 6 months to 120 months.
Initial Single deposit of above Rs.10 Crore (and thereafter in multiples of
Re. 1)
Branches to take prior approval from Circle Heads for accepting any
domestic fixed deposit of above Rs. 10 Crore from a single depositor
Upto Card Rate
Known as PNB Wholesale Fixed Deposit
Scheme(Core)
Above Card Rate Known as PNB Wholesale Fixed Deposit
Scheme(DRI)
Not allowed
Not allowed
Not allowed
Not allowed
In case of pre-mature cancellation of FDRs accepted under the scheme, the
rate contracted at the time of FDR shall not be paid to the customer.
The rate of interest in respect of deposit withdrawn before maturity shall be
the interest rate payable on contractual rate under the scheme minus 1% or
the rate under the scheme on the contractual date applicable for the tenor for
which the deposit has actually run minus 1%, whichever is lower. In all
such cases, interest up to completed quarters shall be paid on compounded
basis with quarterly rests and on simple basis for incomplete quarter up to
the date of payment, for the period for which the deposit remained with the
Bank.
The extant guidelines issued by IRMD, HO: will be applicable. For all
withdrawals over Rs 25 Crore guidelines of prior information of Treasury
Division-HO shall continue regularly. However, the option/facility of
overdraft/loan shall not be available in the account opened in the name of
minor.
i) Payment of FDR on Maturity: All deposit receipts shall be payable at
par on maturity at any of the branch i.e. no inter-sol transactions charges
of any nature including cash withdrawal of such FDRs through savings/
current account etc, will be levied at the time of payment.
ii) Payment/Other Transactions related to FDR before its due date: All
other issues except payment of FDRs on maturity shall be handled at

BASE Branch only
33. PNB FLOATING RATE FIXED DEPOSIT SCHEME (RMD Cir.40 dt.17.5.13)
An individual (singly or jointly), including a minor aged above 10 years, proprietorship
Eligibility
/ partnership firm, club, association, company / corporate body, public / commercial
organization, Hindu undivided family (HUF), Municipality, Panchayat, Govt. and
Quasi-Govt. body, society, trust, religious, charitable and educational institution.
Account of Minor below the age of 10 years will be opened under guardianship.
Under the Scheme, the rate of interest payable on the FD will automatically change
Purpose
with the change in Fixed Deposit Rate made by the Bank from time to time. The
changes in Rate of Interest will be applicable, without presentment of the FDR, by the
depositor.
Minimum 1000/- or in multiples thereof
Amount
Min 7 days - Max 10 years
Period
Part withdrawal is treated as pre-mature payment. Issuance of a fresh FD for residual
Pre-mature
amount for the remaining period.
a) Term deposits of less than 10 Crores,
i) Where deposit remains with the bank up to 5 years, interest payable less
1% for the period FD has actually run.
ii) Where deposit remains with the bank above 5 years, interest payable less
0.5% for the period FD has actually run.
b) Term deposits of above Rs.10 Crore (For accepting deposits of above
Rs.10 Crore, prior approval of Treasury Division HO: is required),
Pre-mature cancellation of Term deposits of 10 Crores and above rate of interest that
remained effective for the period FD has actually run will be paid, without making
any reduction.
Demand Loan/
Over-draft
Staff members and Senior citizens (Except their term deposits if any, accepted by the
bank on DRI basis), instances of death of the depositors before maturity, would
continue to be exempted from the levy of penal interest.
FD should be for a minimum of Rs. 10000/-. Not available in case of account
opened in the name of Illiterate or Blind person.
Rate of interest for general public is @ 2% over and above the deposit rate payable on
FDR. It is 3% above rate on deposit or BPLR (whichever is higher) for nonindividuals.
Margin: For Public
Maturity Period of FD remaining at Margin
the time of granting Demand
Loan/overdraft
Upto 3 years
7.5%
Above 3 years & upto 4 years
10.0%
Above 4 years & upto 5 years
12.5%
Above 5 years
20.0%
Other
Third party deposits

25.0%
For Members of Staff and honorably/ Retired ex-members of staff/widow of staff
Maturity Period of FD remaining at Margin
the time of granting Demand
Loan/overdraft
Advance upto 3 lac
5%
Advance above 3 lac
As applicable to Public
Third party advance permitted.
At Par Collection/Payment of FDR at all CBS sols on maturity.
Payment/Other Transactions related to FDR before its due date would be entertained
only by the Base Branch.
34. MIBOR LINKED NOTICE DEPOSIT SCHEME (FOR BRANCHES OF METRO

CITIES ONLY) (RMD Circular 39/2013 dated 17.05.2013)
To start with only for High Net worth Individuals (HNIs), Company/Corporate
Eligibility
body, Public Sector Undertakings and Commercial Organization
Single deposit of Rs. 10 Crores and above and thereafter in multiples of Re.1/-.
Amount
Once the spread is quoted for the day, there should not be any limit for acceptance
of deposit under the scheme. However, based on the fund position, next days spread
will be quoted by Treasury Division, HO. No deposit will be taken on reporting
Fridays.
Minimum of 7 days and maximum of 60 days
Period
i) To be decided by Treasury Division-HO linked to MIBOR (NSE Overnight)
Interest
with an upper cap of 8.75% with daily reset (simple interest).
ii) Upper cap to be reviewed by Treasury Division, HO in consultation with
ALCO on quarterly basis.
iii) Treasury Division, HO will give spread (either plus or minus) over MIBOR
on daily basis along with other rates of bulk deposits. NSE MIBOR will be
fixed at 10 A.M. daily. Hence, Treasury Division will give previous day
MIBOR fixing along with bulk deposit rates.
Pre-mature
payment
Auto renewal
DL / OD
No penalty for premature/part withdrawal, however, one clear working day notice
required for withdrawal of funds.
The FDR shall be AUTO RENEWED FOR 14 DAYS ONLY, under the same
scheme only. The auto renewal period to be modified at the instance of the customer
subject to the minimum or maximum period of the scheme. The FD shall continue to
be auto renewed FOR 14 DAYS ONLY till such time instructions to the contrary are
received.
Demand Loan/Overdraft facility is not available under this scheme.
35. FIXED DEPOSIT SCHEME FOR ROAD ACCIDENT VICTIMS

(RMD Circular no. 26/2013 dated 25.09.2013)
The scheme is to facilitate the claimants of victims of road accidents to place
Purpose
Eligibility
Auto renewal
Period
Options
Interest
Pre-mature payment
Loan / Advance
FD Receipt
Other
the funds received from the Motor Tribunal as per court orders under the
maximum interest category of Fixed Deposit.
Any individual/dependent (singly or jointly with others), minors of 10 years
and above in his own name and below 10 years under guardianship shall be
eligible to open under the scheme provided there are Court orders in support of
the claim in his/their names.
Auto renewal will be done for the period prescribed by the court
For any period 12 months to 120 months. In case, the honorable court directs
fixed deposit tenor of more than 120 months, the same, shall be auto renewed if
the period exceeds 120 months.
Income option (outflow of interest): The interest may be paid on monthly basis.
The monthly interest will be paid at discounted rate. The maturity option is
not available.
1% above CARD rate of interest as applicable for normal Fixed Deposit
scheme for various Tenors
No premature cancellation/ part withdrawal is permitted under the scheme
without the permission of the court.
No loan & advances is permitted under the scheme without the permission of
the court.
The original FD receipt shall be retained by the Bank in safe custody; however,
the original saving fund pass book shall be given to the claimant alongwith the
photocopy of the FDR. The original FDR shall be handed over to the claimant
at the end of the Fixed Deposit period
It is mandatory to open a Saving Fund account wherein monthly interest of
the Fixed Deposit shall be credited.
No cheque book is to be issued under the Saving Fund account without
the permission of the court.
Photo identity card shall be issued to the claimant and the withdrawal shall
be permitted only after due verification by the Bank of the identity card of
the claimant.
Copy of the Court orders is to be obtained and held on record for opening of
the account under the Scheme.
CBS Code Identifier for the captioned Scheme is 001FDVRA. The user
has to put the identifier in free text 1 in V option, second page, at the time
of account opening
36. Balika Shiksha Fixed Deposit Scheme (RMD Cir. 36/2013 dated 13.05.2013)
Purpose
i)
Centrally sponsored Scheme mainly to provide incentive to the girl child

who passes the VIII Standard examination and enrolls in secondary
school. A sum of Rs.3000 (Three thousand only) will be deposited as
fixed deposit in her name and she would be entitled to withdraw on
reaching 18 years of age.
ii)
To promote the girl childs enrolment of 14-18 years age group at

secondary stage, who passes class VIII and subsequently drops out for various
socio-economic reasons.
iii) To establish an enabling environment to reduce the drop outs and to
promote the enrolment of girl child belonging to SC/ST communities in
secondary schools and ensure their retention upto the 18 years of age.
Eligibility
Period
Auto renewal
Initial deposit
Process of withdrawal
Others
(i) All girls who pass class VIII from Kasturba Gandhi Balika Vidyalayas
(irrespective of whether they belong to SC/ST) and enroll for class IX in
State/UT Govt., Govt. aided or local bodies schools in the academic year
2008-09 onwards.
(ii) All SC/ST girls who pass class VIII and enroll for class IX in State/UT
Govt.,
Govt. aided or local body schools in the academic year 2008-09 onwards.
Related to (i) and (ii) above the accounts should be of unmarried girls
below 16 years of age as on 31st March on joining class IX Students enrolled
in Private unaided schools and schools run by Central Govt. are to be excluded.
The period of deposit may be counted from the date of deposit to the date on
which the girl child attains the age of 18 years. (Necessary age proof to be
obtained and kept in record). The minimum period of Fixed Deposit is 7 days.
A sum of Rs. 3000/- will be deposited in her name and she would be entitled to
withdraw on reaching 18 years of age.
Auto renewal shall be done for 30 days until final disposal of funds only in the
cases where directions are not received from the implementing agency on or
before the due date of the fixed deposit
NIL for opening of Savings Account.
a) Pre-condition for the beneficiary to pass class X Board Examination
successfully.
b) On attaining 18 years of age and production of (a) class-X pass certificate
and (b) a Certificate from the Principal/Head of the School that the girl
beneficiary has continued her studies for at least 2 years after enrollment in
class IX.
c) The beneficiary will have to continue her study at least for 2 years in the
secondary school after her enrolment in class IX in order to avail the benefit
under the scheme. The principal/head of the school will furnish a certificate to
this effect.
i) No Loan/ Advance to be allowed against these deposits
ii) CARD rate of interest as applicable for normal Fixed Deposit scheme
iii) No premature withdrawal will be allowed
iv) Unfortunate event of the death of the student before attaining the age of 18
years, the amount of incentive will be transferred to the Central Govt.
accounts
v) Savings account is to be opened on receipt of a duly verified application
with particular reference to the birth certificate issued by the School Head
based on enrollment record
37. CAPITAL
SCHEME
1988 to Girls for Secondary Education
Saving Fund
Account GAINS
under ACCOUNT
National Scheme
of incentive
(RMD
89/2014
dated
25.09.2014)
(NSIGSE)- Part
of Consolidated
Direct CashCircular
Transfer
project
Govt.
of India. (RMD Circular 83/2014 dated
03.09.2014)
Every depositor who desires to open an account/accounts as the case may be, under
Eligibility
1. The Ministry of Human
Resource
Development,
Indiatohas
providing
financial
assistance
the Scheme
for the
first time, heGovt.
shallOf
apply
the been
deposit
office in
Form A,
in
to tate/ UT Governments
cash incentive
to the
students under
theFund)
National
duplicatefor
& depositing
tender the amount
of deposit
for eligible
opening girl
of account-A
(Saving
Scheme of Incentive
Girls forSecondary
Education NSIGSE). Under the scheme, an account is opened
orto
account
B (Term deposit)
in the name of theCAPITAL
beneficiary GAIN:
girl child
in thea Bank
for asset
an amount
the implementing
Where
capital
is soldof atRs.3000/-by
a price higher
than its
agency o open a Fixed
Term Deposit.
scheme
is also sale
included
Direct Cash
Transferwith
project
acquisition
cost, the This
difference
between
pricein
& the
acquisition
cost adjusted
of Govt. of India. the price index is called capital gain.
Types
of Capital Gain A/c can be opened at all branches except rural branches :
2.deposit
Under this scheme,
on attaining
18 years
age thewill
implementing
agency
authorizes
Bank to
i)Deposit
Account-A
: Thisofaccount
be in the form
of our
existingthe
Saving
transfer
the maturedFunds
amount
of FDRand
to the
Bank
Account
of beneficiary
girl. Book, giving the
Account
theSaving
depositor
will
be provided
with a Pass
accounts
details of receipt and payments and interest as well.
3. The beneficiariesii)ofDeposit
NSIGSEAccount-B
scheme are: facing
difficulties
of of
amount/operations
in the
This account
willinbewithdrawal
in the form
our existing Term
account because SB
accounts
of
these
beneficiaries
become
inoperative
due
to
non
customer
induce
Deposit Account and in this case the depositor will be issued a deposit receipt as in
transaction in the account.
result,
the matured
amount of FDR is not
being
credited
in Saving
Fund
the caseAs
of aother
Term
Deposit Account/Accounts.
The
deposit
Account-B,
i.e.,
account.
Term Deposit Account can be both Cumulative as well as Non-cumulative on
quarterly basis.
4.Interest
Keeping in view Interest
the above:
at such rates, as specified by Bank from time to time. No additional rate
of interest will be given on deposits held under Capital Gain Accounts Scheme
a) A separate scheme
code
SBNSG
provided
Bank Account opened specifically for
1988
received
fromhas
Sr. been
Citizens
as welltoasSaving
staff members.
girl
students
under
NSIGSE
at
the
time
of
opening
of
account.
A depositor having Account-A, at any time after making initial deposit, can apply
Withdrawal
from
the on Form C with Pass Book for the withdrawal of the amount from the balance in
b)account
Scheme code in Account-A,
all the existing
accounts
opened
underofNSIGSE
scheme, should be modified to avoid
subject
to other
provisions
the Scheme.
the In-operative status.
A depositor intending to make withdrawal from his Account-B shall first get his
account transferred in his account-A, and then may withdraw the amount in the
c) On transfer of proceeds
of FDR,
issued above.
under above
scheme
code oftheSaving
Fund
same manner
as stated
If it scheme,
is premature
transfer,
interest
willaccount
be
should be changed adjusted.
to SBGEN
from
SBNSG.
The withdrawal for more than Rs. 25,000/-, will be allowed through
crossed demand draft in favour of the person to whom the depositor wants to make
5. Saving Fund accounts
opened under the above scheme code will not shift to inoperative category on
payment.
account
of nonofcustomer
in thefrom
accounts.
At theinduced
time oftransactions
any withdrawal
Account-A other then the initial withdrawal,
Utilization
the depositor shall furnish in Form D, in duplicate, the details regarding the
withdrawal
6.amt.
enter scheme code
SBNSG
the time
opening ofofSaving
Fund account
of Girls under
NSIGSE
manner
andatextent
of ofutilization
the amount
of immediately
preceding
scheme of Govt. ofwithdrawal.
India.
In case of failure on the part of depositor to furnish all the details as
above, the branch shall refuse the depositor to withdraw any amount lying in the
ii)
On attainingAccount.
18 years of age the implementing agency authorizes the Bank to transfer the matured
amount of FDR to the
Bank
Accountshall
of beneficiary
TheSaving
amount
withdrawn
be utilizedgirl.
by the depositor within 60 days from the
date of such withdrawal for the purpose specified in the section and the amount or
iii)
A separate
scheme
code
SBNSG
provided
Bank in
Account
opened
any part
thereof
which
has not has
beenbeen
so utilized,
shalltobeSaving
re-deposited
Account-A
specifically for girlimmediately
students under
NSIGSE at the time of opening of account. Scheme code in all the
thereafter.
existing
accounts
opened
under
NSIGSE
should on
be Form
modified
the In-operative
status.
The depositor can applyscheme,
for nomination
E as to
peravoid
nomination
rules in favor
Nomination
On transfer of proceeds
issued
scheme, scheme code of Saving Fund
of personsofnotFDR,
exceeding
3 tounder
receiveabove
the amount.
account should be changed to SBGEN from SBNSG.
Closure
account
of
Change
alienation
or
Other terms
and
Conditions
If a depositor desires to close his account, he shall have to apply to deposit office
on Form G along with the approval of the Assessing Officer, who has jurisdiction
over the depositor and with the Pass Book/Deposit Receipt. If permitted the
amount shall be credited to his account.
The amount standing in the credit of the depositor in any account under the Scheme
shall not be offered as security for any loan or guarantee and shall not be charged
or alienated in any manner, whatsoever.
(i)
Cheque book facility cannot be permitted in view of the system of withdrawal
prescribed in the Scheme
(ii)
Joint account cannot be opened
(iii) The interest earned on cumulative or non-cumulative deposits in Account B
cannot be withdrawn separately and will have to necessarily be withdrawn
through Account A as per the provisions contained in the Scheme.
(iv)
There is no objection if current account is allowed to be opened as Account
A.
(v)
The capital gains can be kept in fixed deposit account (i.e. in Account B)
with banks for any number of years
(vi) It is not possible to open a term deposit account under the scheme with
retrospective effect.
(vii) Interest on the capital gains deposited in the Bank will also be treated on the
same lines as interest from any other deposit with a scheduled Bank.
Note: PNB Capital Gains Exemption Deposit Schemes (Under Section 54EA +
54EB has been discontinued vide RMD circular no. 35/2013)
38. PROSPECTIVE SENIOR CITIZEN TERM DEPOSIT SCHEME

(RMD Master Cir. No. 17/2013 dtd. 2/9/2013 (45/2011) & 100/2014 dtd. 17/10/2014)
Purpose
Eligibility
Plan
A Term Deposit Scheme formulated exclusively for prospective Senior Citizens

wherein the depositor would automatically get additional rate of interest as
applicable to Senior Citizens, presently 0.50%, on attaining the Status of Senior
Citizen i.e. attaining the age of 60 years, during the tenor of the term deposit subject
to changes from time to time.
The scheme is for all individuals (singly or jointly) who are 55 & 55+ years of age.
In case of joint deposit, the prospective Senior Citizen has to be first holder of the
term deposit. For joint deposit with others, certificate should be obtained from the
prospective Senior Citizen that the money deposited belongs to him/her.
55 & 55+ Illiterate and blind persons can also open the account. The Scheme shall
be applicable for the age of 55 years and above and up to 60 years.
Age to be verified from any of the documents containing date of birth.
Maturity Option : i.e. Interest payable on maturity (quarterly compounded) The
incomplete quarter of such deposit shall be reckoned at the end, for the purpose of
calculation of interest. The interest shall be compounded on quarterly basis and is
payable on maturity of deposit. The interest inflow in the account shall be on every
Amount
Deposit
Tenor
Deposit
Rate
Interest
calendar quarter end i.e. 31/3, 30/6, 30/9 & 31/12.

Income Option.: Under the scheme Interest shall be payable quarterly at simple
rate of interest or monthly at discounted rate as per the option of the depositor. No
charges are to be levied on transfer of the interest amount to a/cs with our other
branches, for credit to customers deposit account or loan account. On the request
of the depositor having number of Special Term Deposits, issued on different dates,
for different periods, bank may pay interest on all these deposits on a particular date
of the quarter as per the mandate of the depositor.
of Minimum : Rs. 100/- and thereafter in multiples of 1/Maximum : Rs 99, 99,999/of Income option: For any period with minimum of 1 year to maximum of 10 years,
but the period of deposit under this option shall be in complete months/quarters as
opted by the depositor i.e. for monthly option the period can be 61/ 74 months etc.
and for quarterly option the period can be 48 / 60 or 63months etc.
Maturity option: For any period with minimum of 1 year to maximum of 10 years,
even for incomplete quarters, such as, 63 / 74 / 77 months & 16 days and so on.
However, it is mandatory that during the tenor of deposit, under both the options,
the account holder must attain the status of Senior Citizen i.e. the age of 60 years.
Of The rate of interest shall be CARD rate payable in accordance with the circulars
issued by the Bank from time to time plus additional rate of 0.50% as applicable to
Senior Citizens from the date of attaining the status of Senior Citizen i.e. attaining
the age of 60 years.
Conversion

contract.
conversion is sought for by the depositor and not from any retrospective date.
No penalty will be levied on such conversion.
period equal to the period of conversion.
Auto Renewal
Premature
Payment
If any depositor desires to withdraw the deposit before maturity, Bank may at its
discretion repay the deposit with up to date interest. The interest rate payable
would be contractual rate or the rate applicable for the period for which the deposit
has run, whichever is lower. However, no penalty will be levied for premature
withdrawal of deposit in case it is closed prematurely after attaining status of Senior
Citizen.
At
Collection
FDRs
Par (a) Payment of Term Deposit ON MATURITY: All deposit receipts shall be
of payable At Par on maturity at all branches, i.e., no inter-sol transaction charges of
any nature including cash withdrawal of such Senior Citizen TDRs either directly
or through savings/current account, etc., will be levied at the time of payment.
(b) Premature Payment related to Term Deposit: In case, customer requires
premature payment in respect of the Term Deposit, it would be entertained only by
the Base Branch i.e. the branch which has issued this Term Deposit.
Demand Loan/ Deposits for Rs.10,000/- and above on written request shall be eligible for Demand
Loan/overdraft facility. The depositors in need of overdraft facility, the same shall
Overdraft
be permitted to avail the facility through an Overdraft Account and a Cheque Book
will be issued to the depositor on the same day and actual drawings in O/D a/c will
be allowed on subsequent day. Interest will be modified simultaneously from the
date of additional rate of interest of 0.50% is applied. However, the facility of
Overdraft will not be available in the accounts opened in the name of Illiterate
/ Blind persons.
Margin
The margin on the amount of overdraft against the deposit shall be governed by L
& A circulars issued by Integrated Risk Management Division:HO, from time to
time.
Format
of
rubber stamp to
be affixed on
CD
The additional rate of interest shall be applicable from the date of attaining the Sr.
Citizens status. The Maturity value mentioned on the confirmation of deposit (CD)
is inclusive of the applicable additional rate of interest for Senior Citizens subject to
any change in additional rate of interest as decided by the bank from time to time.
The depositor shall maintain an operative Saving Fund Account/Current

Account with the bank wherever required.
Entering date of birth of the depositor(s) is mandatory.
In case of death of prospective senior citizen before attaining the status of
Senior citizen, addition benefit of 0.50% will not be applicable.
Nomination facility is available in the scheme as per extant guidelines.
To give the benefit of the Scheme to existing prospective Senior Citizen
holding term deposit accounts, a notice is to be displayed in the branch
premises, advising the depositor that in case they wish to switch over to the new
scheme, they may submit request in this regard along with proof of age. In such
cases, the old term deposit may be cancelled prematurely, without levy of penal
charges.
CIR. Now, Prospective Senior Term Deposit is also available for :
PNB Sugam Term Deposit Scheme for public : FSCCP
PNB Sugam Term Deposit Scheme for staff : FSCCS
PNB Anupam Term Deposit Scheme for public: FDSAP
PNB Anupam Term Deposit Scheme for staff : FDSAS
Special Sugam Term Deposit Scheme for public : FSCPQ
Miscellaneous
RMD
100/2014
(Quarterly payment of interest)

Special Sugam Term Deposit Scheme for Staff : FSCSQ
(Quarterly payment of interest)
Special Sugam Term Deposit Scheme for public : FSCPM
(Monthly payment of interest)
Special Sugam Term Deposit Scheme for staff : FSCSM
(Monthly payment of interest)
39. SPECIAL TERM DEPOSIT (TDSP) SCHEME(RMD Master circular 18/13

DATED 05.09.2013)
Eligibility
guardian,
Proprietorship/Partnership Firm, Commercial Organization,
Company /
Corporate Body,
Institutions,
Illiterate and blind persons can also open the account
Amount
of The TDSP account can be opened with a minimum deposit of 100/- as initial deposit
and thereafter in multiples of Rupee one (Re.1/-) with maximum amount of
Deposit
99,99,999/-.
Tenor
of For any period from 1 year to 10 years, even for incomplete quarters, such as, 13
months, 14 months, 37 months & 16 days and so on.
Deposit
Rate
Of The rate of interest shall be CARD rates and payable in accordance with the circulars
Interest
Conversion
contract.
period equal to the period of conversion
Auto Renewal
Overdue
Deposit
Premature
Renewal:
Premature
Withdrawal
At
Par
Collection/
Payment
of
Term Deposit:
renewal of the FDR.
ii) Excess payment of interest, if any, should be recovered from the term deposit,
before complying with his instructions..
maturity, would continue to be exempted from the levy of penal cuts
Collection of Term Deposits: Collection of Term Deposits (on/before maturity)
be undertaken At Par at all branches.
Demand Loan
/Overdraft
facility
Margin
Miscellaneous
The depositor shall maintain an operative Saving Fund Account/Current Account with
the bank wherever required.
40. PNB SAKSHAM A NEW RECURRING WITHDRAWAL DEPOSIT

SCHEME VARIANT-I (RMD Cir No. 35/2014 DT. 19.03.2014)
Under the Scheme, amount received from customer is kept under Term Deposit and
thereafter as per his/her choice withdrawals/payouts of monthly interest along with part
amount of principal would be made, which is known as SAKSHAM PLAN.
Generating income/supplementing pension/other income, to meet the financial needs of
Objective
the depositors requiring regular pay out consisting of interest plus part of principal i.e.
more than the interest component on deposit.
Senior citizens/retired persons may deposit their retirement dues and may require
Target
/
monthly pay out to meet out their day-to-day expenses.
Group
The parents of students may deposit a lump sum amount for meeting out the
future expenses of fees, books, boarding & lodging etc. on monthly basis.
NRIs/PIOs who for the sake of their near & dear ones in India may deposit a
lump sum amount which will provide monthly pay out/funds to the beneficiaries.
Farmers, may deposit proceeds of their produce in lump sum and draw monthly
pay out for meeting their day to day expenses.
Citizens who have disposed of their movable/immovable property may deposit
the sale proceeds and draw monthly pay out for their livelihood.
Institutions viz. schools/colleges etc. which get lump sum amount of fees at the
beginning of academic session and need to distribute salaries of staff/meet other
misc expenses later on throughout the year
Individual (singly or jointly) as well as illiterate and blind persons, Association, Club,
Eligibility
Society, Trust or Religious/ Charitable and Educational Institutions, etc.
Minimum Rs.25000/- and thereafter in multiple of Re.1/- subject to maximum of Rs. 10
Initial
Crore.
Deposit
Period of 12 months to 120 months in multiple of 3 months.
Deposit
41. PNB SAKSHAM A NEW RECURRING WITHDRAWAL DEPOSIT SCHEME
VARIANT-II (Moratorium Period Plan : RMD Cir No. 35/2014 DT. 19.03.2014)
Under the Scheme, amount received from customer is kept under Term Deposit and
thereafter as per his/her choice withdrawals/payouts of monthly interest along with part
amount of principal would be made, which is known as SAKSHAM PLAN.
To meet the future recurring financial needs of the depositors requiring regular pay out
Objective
more than the interest component of deposit after some moratorium period. The payout
in the shape of monthly interest plus part of principal shall start minimum after 3
months or in multiple thereof subject to maximum of 9 years after the date of deposit.
However, the maximum payout period shall be 120 months minus moratorium period
of the fixed deposit.
Individuals/Institutions who can spare amount as on date and may require
Target
/
monthly Payout only after a certain period.
Group
Parents/grand parents may require such plan for meeting the educational
expenses of their children in future. Lump sum amount may be deposited by
parents/ grandparents at the time of birth of a child and monthly pay out may be
required when the child starts going to school after 45 years.
Individual (singly or jointly), Association, Club, Society, Trust or Religious/
Eligibility
Charitable and Educational Institutions, etc. illiterate and blind persons can also open
the account
Minimum Rs.25000/- and thereafter in multiple of Re.1/- subject to maximum of Rs.
Initial
10 Crore.
Deposit
Period
of Maximum of 120 months (inclusive of moratorium period on Fixed deposit for 3
months and in multiple thereof subject to maximum of 9 years).
Deposit
42. PNB SAKSHAMRECURRING WITHDRAWAL SCHEMEFOR NRIs/PIOs
( RMD Cir No. 12/2014 DT. 20.01.2014 )
Under the Scheme amount received from customer is kept under Term Deposit and thereafter as per
his/her choice withdrawals/payouts of monthly interest along with part amount of principal would be
made (with or without moratorium period) which is known as SAKSHAM PLAN.
NRIs individuals in single or joint capacity.
Eligibility
Minimum of Rs.25000/- and thereafter in multiple of Re.1/- subject to maximum

of Rs.10 Crore.
Period of Deposit 12 months to 120 months in multiple of 3 months.
Moratorium
The moratorium period shall be 12 months to 9 years in multiple of 3 months,
Period
thereafter the disbursement of monthly payout shall commence.
Initial Deposit
Rate of Interest
Withdrawal
Amount
Penalty
As per card rate of the term deposit of various tenors. In case of Senior citizens,
0.50% additional interest and in case of existing and honorably retired staff
members, 1% additional interest shall be payable over and above the normal
interest applicable.
Commensurate with the amount of deposit. Minimum withdrawal amount should

be Rs. 1,000/- per month, thereafter in multiple of Re.1/-. Monthly pay outs
consisting interest plus part of principal. Bank will credit monthly pay outs in the
Saving/Current Account of the depositor. In case the deposit is in the joint names,
a joint account will be opened in the name of the depositors for the purpose of
crediting the pay outs.
No pre-payment penalty will be levied in case of pre-mature cancellation of the
deposit
and No loan/overdraft facility will be granted against the FDR under Saksham plan.
Loan
Advances
Nomination
Miscellaneous
As per nomination rules

1. Product is valid upto 31.3.2015.
2. Product is available at all the branches.
3. Monthly pay outs is payable at par at all the branches but transactions in FDR is
to
be done at base branch only.
4. Payment of interest on monthly basis shall be on the discounted value
Eligible Credits
Rate of Interest
(a) Proceeds of remittances to India in any permitted currency for credit to NRE
account received through credit push systems like RTGS/NEFT/NECS and ECS.
(b) Proceeds of personal cheques drawn by the account holder on his foreign
currency
account and of travelers cheques, bank drafts payable in any permitted currency
including instruments expressed in Indian rupees for which reimbursement will be
received in foreign currency deposited by the account holder in person during his
temporary visit to India, provided the branch is satisfied that the account holder is
still resident outside India, the traveler cheques/drafts are standing/endorsed in the
name of the account holder and in the case of traveler cheques, they were issued
outside India.
Proceeds of foreign currency/bank notes tendered by the account holder during
his
temporary visit to India, provided (i) the amount was declared on a Currency
Declaration Form (CDF), where applicable, and (ii) the notes are tendered to the
authorized dealer in person by the account holder himself and the authorized
dealer
is satisfied that account holder is a person resident outside India.
(d) Transfers from other NRE/FCNR accounts.
As per card rate of the term deposit of various tenors. Payment of interest on
monthly basis shall be on the discounted value.
Commensurate with the amount of deposit. Minimum withdrawal amount should

be Rs. 1,000/- and thereafter in multiple of Re.1/- per month after the moratorium
period (12 months to 9 years, as per choice of the depositor). Bank will credit
monthly pay outs in the Saving/Current Account of the depositor. In case the
deposit is in the joint names, a joint account will be opened in the name of the
depositors for the purpose of crediting the pay outs.
Penalty
deposit
Premature
Cancellation of deposit. No interest is payable on pre-mature cancellation of fixed deposit
Deposits without before 1 year. However, interest already paid before completion of one year
period shall be recovered from the principal amount to be paid at the time of premoratorium
mature cancellation.
period
i) Premature cancellation before completion of the moratorium period: In
Pre-mature
such cases, the system will calculate the interest at the rate for the period the FDR
Cancellation
has run and there shall not be any need for any manual intervention.
With
ii) Premature cancellation after completion of the moratorium period i.e.
moratorium
after switching of the FDR to Saksham Plan: If the fixed deposit is cancelled
period
pre-maturely by the depositor after switching of the FDR to Saksham Plan, the
system will pay interest on the fixed deposit at the rate applicable for the
Saksham period only without penalty instead at the rate from the date of original
Fixed Deposit. The system will not re-calculate the interest already paid on fixed
deposit during the moratorium period. Although such cases may be very rare, yet
it is advised to handle such cases procedurally by lodging the request in SPSD till
Withdrawal
Amount
this issue is customized by IT Division.

Note : The interest rate payable would be contractual rate or the rate under the scheme on the
contractual date applicable for the tenor (both under moratorium period and thereafter) for
which the deposit has actually run, whichever is lower, without charging penalty.
Loan
and No loan/overdraft facility will be granted against the FDR under Saksham plan.
advances
As per nomination rules
Nomination
Miscellaneous
1. Product is valid upto 31.3.2015.
2. Product is available at all the branches.
3. Monthly pay outs is payable at par at all the branches but transactions in FDR is
to
be done at base branch only.
4. Payment of interest on monthly basis shall be on the discounted value.
43. AUTO RENEWAL OF DOMESTIC TERM DEPOSIT ON MATURITY

(RMD Cir. No. 34/2014 dt.19.3.2014)
As per recommendations of Damodaran Committee, Banks cant auto renew Term Deposits
without taking customers consent in writing. The customers have the option of auto renewal of
FDRs either for the Maturity Value or for the Principal amount only. Period of auto renewal as well
as the number of times auto renewal is required must be specified by the customer at the time of
exercising the option of auto renewal.
The auto renewal facility will be applicable for all types of Term Deposit Schemes except
(i) PNB Tax Saver Deposit Scheme (ii) Capital Gain Scheme (iii) Recurring Deposit Schemes, (iv)
Bulk Term Deposits (above Rs.10 Crore) (v) Inter Bank Deposits and/or where specific quotes for
rate of interest is given by Treasury Division, HO and shall be auto renewed after the date of
maturity. At the time of payment of Term Deposit, the customer shall have to surrender the original
Term Deposit Receipt/Acknowledgement, wherever issued.
The interest rate payable shall be the card rate applicable on the date of auto renewal of Term
Deposit, depending upon the tenor.
The auto renewal of Term Deposit would be net of TDS, if any, as per existing guidelines.
All renewals are to be made effective from the date of renewal and not from retrospective date.
The detail functionality to handle auto renewal of FDR in the CBS system was circulated by ITD,
HO vide their Circular No. ITD/CBS/7/2013 dated18.02.2013.
Illustration:
A term Deposit was issued on 22.05.2004 for one year under Spectrum (Maturity option), due for
payment on 22.05.2005. The same is lying in overdue Term Deposit category. This is being renewed
under onetime exercise say on 28.05.2011. Interest @ savings bank rate is to be paid w.e.f 22.08.2008
till 27.05.2011 and the same (maturity amount + Savings interest) is to be renewed for a further period
of one year as on the date of renewal i.e. 28.05.2011 under Multi Benefit Term Deposit Scheme with
auto renewal Y in the system.
No manual intervention in the system be done which results in non auto renewal of the term
deposit on maturity.
44. OVERDUE TERM DEPOSITS
(RMD Cir. 02/2014 dt. 4.1.2014 & 7/2015 dt. 10.2.2015)
Interest on amount lying in Overdue Term Deposit for the overdue period is to be paid at
Savings Bank rate of interest as applicable from time to time, presently being 4.0% on the
methodology as applicable to SB Account from time to time.
The Overdue Term Deposits are to be renewed on the date of presentation and not to be
renewed from retrospective date.
The appropriate prevailing Rate of Interest shall be applicable from the date of renewal of FDR.
Interest on Overdue Term Deposits is not subjected to Tax Deduction at Source in terms of
section 194A of the Income Tax Act, 1961. However, in the cases where the said overdue
deposits are renewed further, the interest on such renewed term deposits will be subjected to
same provisions of TDS applicable in the case of any other new/fresh terms deposits.
Renewal of Overdue Term Deposit : (RMD Cir. 7/2015):

Though no Overdue Term deposit will be auto renewed, however to avoid complaints, branches
should follow-up with such customers and renew / pay these overdue term deposit, immediately.
Non Renewal of Overdue Term Deposit:
If the depositor does not opt for renewal of overdue FDR, interest shall be allowed as per
guidelines issued by IAD-H.O. which inter-alia reads as under:
Interest would be paid at savings bank rate of interest as applicable from time to time,
presently being 4.0% p.a, on all Overdue Term Deposits, w.e.f. 22.08.2008 or the date of
maturity of the Term Deposit, whichever is later. Interest would be calculated on Simple
basis and would be payable for the overdue period, along with the maturity proceeds of
the matured term deposit.
If any Term Deposit is overdue before 21.08.2008, no interest will be paid till 21.08.2008
& thereafter w.e.f. 22.08.2008, Savings rate of interest will be payable till the date of
renewal of TDR on the following basis:
From 22.08.2008 till the renewal date, interest at savings bank rate of interest, presently
being 4.0% p.a. would be calculated on Simple basis and would be payable till
31.03.2010. Interest at savings bank rate of interest, presently being 4.0% p.a. on the
basis of daily products is to be calculated w.e.f. 01.04.2010 till the date of renewal
It is effective on all Overdue Term Deposits, including (i)PNB Tax Saver Fixed Deposit
Scheme (ii) Capital Gain Scheme (iii) Certificate of Deposits (iv) Recurring
Deposit/Flexi Recurring Deposit.
Interest Payable On Term Deposit In Deceased Account (RMD cir. 46/14 dated 15.5.2014)
i) In the event of death of the depositor before the date of maturity of deposit and amount of the
deposit is claimed after the date of maturity, the Bank shall pay interest at the contracted rate till
the date of maturity. From the date of maturity to the date of payment, the bank shall pay interest
as permissible in case of overdue term deposits for the period for which the deposit remained
with the Bank beyond the date of maturity.
ii. However, in the case of death of the depositor after the date of maturity of the deposit, where
the depositor failed to renew the deposit for a further period, the bank shall pay interest as
permissible in case of overdue term deposits
Payment of Interest on Accounts Frozen by Banks (RMD Cir. 25/2013 dated 19.3.2013)
a) A request letter indicating the term for which the term deposit is to be renewed may be
obtained from the depositor for renewal of the term deposit account frozen by the
enforcement authorities. In case the depositor does not exercise his option for choosing
the term for renewal, bank may renew the same equal to the original term, on maturity.
b) No new deposit receipt is required to be issued. However, suitable note may be made
regarding renewal in the deposit account.
c) Renewal of deposit may be advised by registered letter/speed post/courier service to the

concerned Government Department under advice to the depositor. In the advice to the
depositor the rate of interest at which the deposit is renewed should also be mentioned.
d) For Overdue interest, guidelines as issued by the bank from time to time are to be
followed.
e) With regard to Saving Bank Accounts frozen by enforcement authorities, interest may
continue to be credited to the account on regular basis
Penalty Clause for Pre-mature cancellation/part withdrawal of domestic Term Deposit.
(RMD Cir. 50 dated 25.06.2013 )
A depositor is allowed withdrawal of Term Deposit before completion of the period of the
deposit, agreed upon at the time of making deposit, subject to the penal interest rate with regard
to premature withdrawal of term deposit. The penalty clause for premature cancellation/part
withdrawal of domestic term deposits is as under :
(1)
1% penal interest shall be charged at the time of premature cancellation/part withdrawal
of domestic term deposits for all tenors and interest rate payable would be contractual
rate minus 1% or the rate under the scheme on the contractual date applicable for the
tenor for which the deposit has actually run minus 1%, whichever is lower.
(2)
No penalty is to be levied if the deposit is prematurely closed for the purpose of
investment to any other term deposit scheme of the bank provided that the deposit
remains with the bank after the re-investment for a period longer than the remaining
period of the original contract.
(3)
Staff members/Senior Citizen (except their term deposit, if any, accepted by Bank on
Differential Rate of Interest basis), instances of death of the depositor before maturity,
are exempted from the levy of 1% penal interest.
(4)
The penal rate of interest shall be applicable on all term deposits presented for premature
cancellation/part withdrawal including Recurring Deposits unless specifically mentioned/
exempted under a particular term deposit scheme.
(i) To avoid premature cancellation of FDR, where customers provide FDRs in Branch
before the date of maturity with the instructions to credit the FDRs in their account or
renew the same on date of maturity, it may be ensured that payment/renewal of Term
Deposits is done on date of maturity only. (RMD Cir. 62/2014 dt.25.7.2014).
(ii) In case of premature closure of RD Account only 1% penal interest will be levied (as
per Para 1 above) and no penalty for pending/irregular installment i.e. Rs.1.50 for
Rs.100/- p.m. is not to be levied. (RMD Cir. 112 dated 13.11.2014)
(5)
The above provisions of levy of 1% penalty shall not be applicable in cases of premature
sweep-in and sweep-out taking place in specific hybrid products like PNB Prudent Sweep
Scheme and PNB Smart Banking Current Account Scheme.
(6)
Board, however, has approved the policy for waiver of penalty clause for premature
cancellation/part withdrawal of domestic term deposits which are as under :
a. EDs are empowered for waiver of penalty in case of premature cancellation of retail term
deposit i.e. deposits up to Rs.10 Crore on case to case basis in terms of deposit rates of
interest as advised by IRMD (ALM) HO: from time to time.
b. General Manager, Treasury Division, HO: is empowered for giving quotes for rate of
interest, pre-payment or charges for pre-mature withdrawal at the time of giving quotes
for wholesale term deposit (DRI) i.e. deposits above Rs.10 Crore. However, in other
cases, EDs are empowered for waiver of penalty on premature withdrawal of wholesale
term deposits (DRI) on case to case basis. The term deposit account holder must give
clear 3 days notice for premature withdrawal of such deposits.
SUKANYA SAMRIDDHI ACCOUNT (GBD Cir 20/2015 DATED 12.03.2015)
Account can be opened in the name of a girl child till she attains the age of 10
years
Only one account can be opened in the name of a girl child.
Account can be opened in post offices and notified branches of commercial
banks.
Birth certificate of the girl child in whose name the account is opened must be
submitted.
Account can be opened with a minimum of Rs.1000/- and thereafter any amount
in multiples of Rs.100/- can be deposited. A minimum of Rs.1000/- must be
deposited in a financial year.
Interest @ as may be notified by the Government from time to time will be
calculated on yearly compounded basis and credited to the account.
Maximum Rs.1,50,000/- can be deposited in a financial year.
One withdrawal shall be allowed on attaining the age of 18 years of account
holder to meet education / marriage expenses at the rate of 50% of the balance at
the credit of preceding financial year.
The account can be transferred anywhere in India from one post office/Bank to
another.
The account shall mature on completion of 21 years from the date of opening of
account.
DEPOSITORY OPERATIONS & ON LINE TRADING AND FACILITY OF EINSURANCE
Depository services in India
A depository is an organization where the securities of an investor are held in electronic form. To
avail of the services of a depository, an investor has to open an account with the Depository
through a depository participant, just as he opens an account with the bank. Holding shares in the
account is akin to holding money in the bank. Besides, a depository also provides services
related to transactions in securities.
At present, India has only two depositoriesNational Securities Depository Ltd (NSDL) and
Central Depository Services Ltd (CDSL). NSDL is the first depository started functioning in
India, whereas CDSL followed it. However, most of the services offered by both these
depositories are similar.
Facilities
Dematerialization i.e., converting physical certificates to electronic form;
Re-materialization i.e., conversion of demat securities into physical certificates;
Facilitating repurchase / redemption of units of mutual funds;

Electronic settlement of trades in stock exchanges connected to NSDL;
Pledging/hypothecation of dematerialized securities against loan;
Automatic credit into demat a/c, of shares, arising out of split/consolidation/merger/
public issues, rights issue etc.
Receipt of non-cash corporate benefits such as bonus, in electronic form;
Freezing of demat accounts;
Nomination facility for demat accounts;
Services related to change of address;
Effecting transmission of securities;
Account monitoring facility over Internet.
Benefits
Immediate transfer of securities;
No stamp duty on transfer of securities;
Elimination of risks associated with physical certificates i.e. bad delivery, fake securities,
etc.;
Reduction in paperwork involved in transfer of securities;
Reduction in transaction cost;
Change in address recorded with DP gets registered electronically with all companies in
which investor holds securities eliminating need to correspond with each of them
separately;
Transmission of securities is done by DP eliminating correspondence with companies;
Holding investments in equity, debt instruments and Govt. securities in a single a/c;
Depository Participant (DP)
A Depository Participant (DP) is an agent appointed by the Depository and is authorized to offer
depository services to all investors. An investor cannot directly open a demat account with the
depository. An investor has to open his account through a DP only. The DP in turn takes up the
responsibility of maintaining the account and updating them as per the instructions given by the
investor from time to time.
Our Bank is offering Centralized On-Line Depository Service through CBS Interface like
opening & maintaining client accounts, dematerializing shares, giving/executing delivery
instructions, pledge/de-pledge of securities, freeze/defreeze of securities etc. to our customers as
a DP of NSDL through select branches of the Bank.
Presently, 650 authorised branches are linked with DP/Depository Back Office (DBO) at Sansad
Marg, New Delhi. A list of authorized branch is given at www.pnbindia.in under the icon Share
Trading.
Account Opening
Demat account can be opened by:
Individuals
Minor
Illiterate Persons
Blind person
Non Resident Indian/ Foreign
National (NRI/FN): (obtain copy
of the RBI approval letter
Proprietorship firm
Non Individuals
Corporate accounts, including club/trust etc
Partnership firm
HUF
Unincorporated association or a body of individuals/
Army / Government Bodies
Banks/Institutional Investors (FIIs)/ Registered
Society/ Limited Liability Partnership (LLP/Foreign
Institutional Investors (FIIs)/Escrow A/c
A person can approach any of our branches and fill up an account opening form and submit the
following:
One Photograph of each account holders & One Photograph of nominee
Copy of Pan-card
Details of bank account (SF/Current Account)
Proof of Identity and Proof of Address as per following table: (MBD Circular no.
56/2014)
Proof of Identity: (any one)-Self
attested and duly verified by
Branch Official
Identification of each client shall be
based only on photo identity as
prescribed under applicable KYC
norms. Besides PAN card, which is
compulsory and also serves as a
photo identity, other documents,
having authenticated photograph,
accepted for identity verification
are:
Unique
Identification
Number (UID) (Aadhaar)
Passport
Voter ID Card
Driving license
Identity card/ document with
applicants Photo, issued by
any of the following:
Central/State
Government
and
Departments,
Statutory/Regulatory
Authorities,
Proof of Address: (any one)- Self attested and duly verified by

Branch Officials
The address of the client shall be verified from one of the
following documents: (Documents having an expiry date should
be valid on date of submission)
its
Ration card (where ever accepted by the state authority)

Passport
Voter ID card
Aadhaar letter issued by UIA of India
Driving License
Registered lease or sale agreement of residence
Flat Maintenance Bill
Insurance copy
Utility Bills like -(not more than three months old-as on
date of receipt of documents)
Telephone Bill (only landline)
Electricity Bill or
Gas Bill
Bank Account Statement/ Pass Book like -(not more than
three months old-as on date of receipt of documents)
Self-declaration by High Court & Supreme Court judges,
giving the new address in respect of their own accounts
Proof of address issued by any of the following:
Bank
Managers
of
Scheduled
Commercial
Banks/Scheduled
Co-Operative
Bank/Multinational
Public
Sector
Foreign Banks
Undertakings,
Scheduled Commercial Gazetted Officer/Notary public/ Elected representatives
to the Legislative
Banks,
Public
Financial Assembly/Parliament/Documents issued by any Govt. or
Statutory Authority.
Institutions,
Colleges affiliated to Identity card/documents with address, issued by
o Central/State Government and its departments,
Universities,
Professional Bodies such o Statutory/Regulatory Authorities,
o Public Sector Undertakings/ Scheduled Commercial
as ICAI,
Banks,
ICWAI,
ICSI,
Bar
o
Public Financial Institutions,
Council etc., to their
o Colleges affiliated to Universities (this can be treated as
Members
valid only till the time the applicant is a student), and
Credit cards/Debit Cards,
o Professional Bodies such as Institute of Chartered
with photo, issued by
Accountants of India (ICAI), Institute of Cost
Banks.
Accountants of India (ICAI) earlier known as ICWAI,
Institute of Company secretaries of India (ICSI), Bar
Council etc to their members.
The Bank Statement/Telephone Bill/ Electricity Bill etc. should not be more than 3
months old as on date of receipt of documents)
Note:
For opening demat account, a copy of PAN Card is must.
Bank account details are mandatory at the time of opening account.
Client can open more than one account with the same D.P/different
D.Ps/depositories.
Power of Attorney can operate the account on behalf of demat account holder.
The demat account cannot be operated on " any one, either or survivor and former or
survivor basis. It must be operated jointly by all joint holders.
Nomenclature of the account cannot be changed.
Account can be opened with Zero Balance
In Demat Account signature and photograph of nominee are also required
All ID & Address proofs shall be verified with the originals by an employee of PNB.
Verify that the Client does not falls within the United Nation sanction list and/ or
is debarred by SEBI from dealing in securities.
The demat account must be opened in the same ownership pattern in which the securities
are held in the physical form.
if one has physical certificates with the same combination of names, but the sequence of
names is different i.e. some certificates with husband as first holder and wife as second
holder and other set of certificates with wife as first holder and husband as the second
holder, in this case one can open only one account with husband and wife as the account
holders and lodge the security certificates with different order of names for
dematerialization in the same account. He will fill-up an additional form called
Transposition cum Demat" form.
Bank/Address in the depository system can be changed by submitting a written request to

the DP. Such a request should be signed by all the holders.
One can submit account closure request to his DP. The DP will transfer all the securities,
as per the instruction, and close the demat account.
As per MBD circular no. 56 /2014, it has been decided to provide access of performing depository
services (opening of demat a/c, handling DIS etc.) to all branches instead of around 650 authorised
branches upto maker level only as performing such activities upto maker level would not require
posting of certificated/ trained officials and rest of the functions will be taken care at Depository
Back Office (DBO).
FLOW CHART FOR OPENING OF DEMAT A/C AT BRANCH LEVEL
a) Branch receives duly filled in Account Opening Form (AOF) from clients.
b) Branch will do the In-Person-Verification (IPV) and Know your Customer (KYC)
formalities
c) Branch will punch the data in e-stock server (by clicking icon Depository under
MBD after clicking Non-CBS Application on CBS home page, which directly
takes dealing officials to e-stock server)upto make level only.
d) After capturing all the details, same to be saved. Then, system will generate a
reference number which is to be written on frontpage of Account Opening Form.
e) For obtaining user ID and Password to carry out such job, branches are required to
convey full name and PF No. of the dealing employee along with Distt. No. of the
Branch to Depository Back Office (DBO), New Delhi at pnbdepository@pnb.co.in
or at fax number 011-23739893.
f) User-ID & Password will be issued by DBO to branches upto maker level only.
g) AOF to be forwarded immediately to Depository Back Office (DBO), 5, Sansad
Marg, New Delhi for authorization/ verification and other activities
h) To intimate Demat A/c number to branches as well as to the clients on their
registered e-mail address after verification of the same.
i) Shortcomings observed, if any, in Demat A/c Opening form to be taken up
promptly with branches concerned as well as with the clients, if necessary, through
e-mail/ telephone.
j) The Client Master Report and Delivery Instructions Slip (on client request) to be
forwarded to client on registered address through Speed Post.
k) Issuance of client login-id and password (on the clients request)
l) To keep all Demat Account Opening Forms (physical form) along with other
relevant documents in safe custody.
m) To Scan and upload KYC documents to NDML as per their guidelines
DORMANT ACCOUNTS
A Demat account having no debit transactions in the last 6 (six) calendar months shall be
classified as Dormant account. The Terms Dormant and Inactive shall be used
interchangeably. The physical Delivery Instructions Slip (DIS) received for transaction in a
dormant account shall in addition to the normal verification process also be verified by another
employee (additional check). Independent confirmation shall be obtained from the client before
processing of the Delivery Instructions Slip (DIS). Sudden activity in dormant accounts may be
viewed as a suspicious transaction. Transactions found to be suspicious shall immediately be
reported to the Principal Officer and HO: KYC-AML Cell. Evaluation for Dormant A/c will be
done every calendar quarter.
NOMINATION
Nomination can be made only by individuals and only individual can be the nominee.
A minor cannot nominate either directly or through the guardian.
Only one nominee can be appointed for one depository account.
Nomination can be made account wise and not security wise.
The nominee can be changed anytime by the account holder/s by simply filling up the
nomination form once again and submitting it to the DP/DBO/Branches.
It is now decided to give options to Client to provide any one of the following of the
nominee and guardian (in case of nominee is minor) at the time of nomination:
(a) Nominees photograph and signature or (b) PAN or (c) Aadhaar number or (d) Details of
saving bank account maintained with Participant or (e) Copy of any other proof of identity of
nominee or (f) Demat account details of nominee.
TRANSMISSION
Transmission is the process by which securities of a deceased account holder are transferred to
the account of the surviving joint holder(s)/nominee/legal heirs of the deceased account holder.
For any further clarification, in nomination & Transmission, MBD Circular no. 20/2014 dated
30.06.14 may be referred.
DEMATERIALISATION
Dematerialisation is the process by which physical certificates of an investor are converted to an
equivalent number of securities in electronic form and credited in the investor's a/c with its DP.
To dematerialise the physical securities:
The investor has to Fill in a DRF (Demat Request Form) and submit the same with the
physical certificate/s to the DP/DBO/Branches for dematerialisation.
The investor has to ensure that before the certificates are handed over to the
DP/DBO/Branches for demat, they are defaced by marking "Surrendered for
Dematerialisation" on the face of certificates.
For each, International Securities identification Number (ISIN), a separate DRF has to be
used.
On receipt of Dematerialization Request Form (DRF) from the branch/ client,
DBO to ensure that details mentioned in the DRFs and those in the physical
certificate match.
Such details to be captured in e-stock server by adopting maker & checker
concept.
Letters generated along with DRF and Physical Certificate(s ) to be dispatched to
Issuers/ R & T agents ( Registrar & Transfer agents) and also keep the records.
When the securities are dematerialized, depository system reflects a credit of the
securities in the beneficiary account of the client.
In case of rejection, the system will reflect a rejection entry and rejection
intimation is to be sent to the client.
TRADING / SETTLEMENT
After sale of the securities, customer would instruct his Branch/DBO to debit his account with
the number of securities sold by him and credit his brokers clearing account. The customer can
avail Delivery Instructions Slip/book from the Branch/DBO.
Issuance of Delivery Instructions Slip(DIS)
The client/ Power of Attorney (POA) holder or branch will forward duly filled in
requisition slip / letter through post/ Courier / registered e-mail to DBO.
The dealing officials at DBO will do a first level due diligence by checking the
signature(s) and ensuring the form / letter received is complete in all aspects.
The requisition slip will be entered in the e-stock server under maker and checker
concept and DIS booklet will be issued to customer and sent at his/ her registered
postal address through Speed-Post.
In case of rejection of request, the reason(s) to be intimated to the client/ branch.
All requisitions for DIS and correspondence exchanged at DBO for issuance of
DIS booklet to be kept in record.
Delivery Instruction Slip (DIS) Processing (MBD circular no. 31 /2014 & 56/2014)
1. Branch receives duly filled in Delivery Instruction Slip (DIS) from clients.
2. After ensuring DIS filled up as per guidelines, Branch will place date and time of
receipt on DIS and verify the signature of account holder(s).
3. Branch will punch the data in e-stock server upto make level only and save the
same.
4. Thereafter, DIS to be scanned and to be sent to DBO via e-mail at
pnbdepository@pnb.co.in or to be faxed at 011-23739893 immediately for
authorisation and scanning at DBO as the same is required to be uploaded on NSDL
server by the next day..
5. Original DIS is to be sent to DBO by next day through secured mode while retaining
the copy of DIS for its record.
6. However, BO: Sansad Marg, New Delhi will ensure that all the Original DIS
(received by them directly from the customers) punched in e-stock server are handed
over to DBO immediately against proper receipt as DBO and BO: Sansad Marg,
New Delhi are situated in the same premises
7. Dealing officials at DBO will do a first level due diligence, check the signature(s) of
clients and will ensure that scanned copy or faxed copy of DIS is complete in all
respects and are supported with accompaniments wherever required.
8. The DIS will be entered and verified in the system (e-stock server).
9. If any discrepancy (ies) found in DIS, the matter to be taken-up with client/ branch
immediately through available fastest mode of communication.
10. In case of rejection of DIS, the DBO will provide the details/ reasons to the clients/
branch immediately.
Note
Branches will forward all the requests of the clients pertaining to issuance of Delivery Instruction
Slip (DIS), Dematerialization request, change in profile (address etc.) or any other request to
Depository Back Office through e-mail or fax or speed post after verifying the signature of all
the account holders. Officials who make data entry / punch the DIS will put the date of receipt &
time on DIS itself, verify the signature of client will also write his/ her name, PF no. (or P.A. no.)
and contact number on DIS (as per MBD Circular no.. 27/2014 dated 12.09.2014)
Rematerialization
Rematerialization is the reverse process of Dematerialization. It refers to the process of

issuing physical securities in place of the securities held electronically in book-entry form
with a Depository.
Remat request will be captured in e-stock server and Rematerialization Request Form
(RRF) to be forwarded to Issuer/ R & T.
Other Activities to be performed by DBO

Pledge-Creation, Creation Confirmation, Closure,
unilateral Closure, Invocation
Transmission
Nomination registration
Any change to Client Master
Cancellation of Power of Attorney
Updation of payment received against billing
Account Closure
Handling Audit
Closure
Confirmation,
Compliance
In Depository System, the compliances that have to be adhered to are enumerated as under:Retail Deposit:Page77of115
Independent confirmation from client for issuance of DIS booklet if received

within one month of change in address.
Monthly transaction statement to be sent to the clients where transactions have
taken place in the account and in cases where the clients have given request for
opting for statement by e-mail, physical statement need not be sent.
Quarterly statements to be sent to all the clients irrespective of transactions in the
account and in cases where the clients has given request for opting for statement
by e-mail, physical statement need not be dispatched.
Monthly grievances report to be sent to NSDL by 10th of the subsequent month
under copy to MBD, HO.
DBO to ensure that Concurrent Audit report is submitted as per time frame fixed
by NSDL.
Delivery instructions slips booklet will be issued only against requisition slip
duly signed by all Account holders and DBO should ensure affixing of rubber
stamp of client(s) account number on its each page/ leaf.
DBO to ensure two step verification for all high value transactions i.e.more than
Rs.5 lac.
Due diligence of all dormat account transactions.
Adherence to processing timelines as stipulated by the Depository:i. All demat request forms received to be processed and dispatched to the
Issuers/ R &T agent within 7 days.
ii. Repurchase/ redemption request to be processed within 2 days of receipt of
the same
iii. Change of address to be processed within 7 days from date of receipt.
iv. Customer grievances to be addressed within 30 days from date of receipt.
v. Account closures request to be processed within 7 days from date of
receipt.
Maintenance of servers and to deal with all other IT related issues.
To maintain records and documents according to the guidelines.
To facilitate inspection conducted by Concurrent Auditor, NSDL and SEBI.
To maintain all the records/ documents and system of e-stock server of M/s
Synergy Software Limited.
To comply with all the guidelines/ circulars issued by MBD/ NSDL/ SEBI
from time to time.
Depository Service Charges for Retail and Corporate Account.

(Undertaking to be obtained from Customers at the time of opening of Demat Account)
CHARGES
S.
Activity
for investors having for investors trading
No.
Demat account only through
IDBI
Capital/ SMC/NSBL
NIL
NIL
Account Opening
1
NIL
NIL
2
Account Closing
Rs.
20/per
NIL
3
A/c
Freezing/
instruction
Defreezing
Rs.
2.25/per Rs. 1/- per cert. with
4
Dematerialisation
certificate with min. minimum of Rs.25/of Rs.25/- including including postage
postage
a. a fee of Rs.10 for a. a fee of Rs.10 for
5
Rematerialisation
every
hundred every
hundred
securities or part there securities or part there
of
subject
to of
subject
to
maximum fee of Rs maximum fee of Rs
500000.00; OR
500000.00; OR
b. a flat fee of Rs.10 b. a flat fee of Rs.10
per
certificate, per
certificate,
whichever is higher.
whichever is higher.
No rematerialisation No rematerialisation
fee shall be charged fee shall be charged
for
Government for
Government
Securities.
Securities.
Accounts
under A/cs under senior
6
Account
MaintenanceFor senior citizens: NIL
citizens: NIL
Individual
Account Accounts
under A/csunder
TOTAL
Holder
TOTAL FREDOM FREDOM SALARY
A/C SCHEME: 50 %
SALARY
charges levied by bank
ACCOUNT
SCHEME:
50 for first year only. For
percent charges levied clients
maintaining
by the bank for first trading a/c with IDBI
year only
Capital/ SMC/NSBLOthers: Rs. 250/- p.a. Free for the first year.
Staff: 115/- p.a.
From 2nd yr
Onwards:
Rs.250/p.a., Others: Rs. 250/p.a.
for Staff
NIL
NIL
NIL
Rs. 1/- per certificate
with min. of Rs.25/including postage
a. a fee of Rs. 10 for
every
hundred
securities or part there
of subject to maximum
fee of Rs 500000.00;
OR
b. a flat fee of Rs.10
per
certificate,
whichever is higher
No
rematerialisation
fee shall be charged for
Government Securities.
For senior citizens: Nil
For the staff members
maintaining
trading
account with IDBI
Capital/SMC/NSBLFree for the first year
From
2nd
year
onwards: Rs.115/- p.a.
10
11
13
Account
Maintenance Charge
for
Non-Individual
A/c Holder (MF,
Corporate,
Trusts,
Clubs, Brokers. Big
Investors & Traders
etc.)
A/c
Maintenance
(Under Basic Service
Demat A/c (BSDA)
(i) If value of
Holding is upto Rs.
50,000/(II) If value of
holding from Rs
50,001/to
Rs.
2,00,000/Transaction
(Sell)
Other than Debt
Instruments / Govt.
Securities
Rs. 850/- p.a.
Rs. 850/- p.a.
N.A
NIL
NIL
NIL
Rs 100
Rs 100
Rs 100
0.033 % of market
value with minimum
of Rs. 20/- p.i. and
max. of Rs. 250/- per
ins.
Transaction (Sell ) in 0.026% of market
case
of
Debt value with minimum
Instruments/ Govt. of Rs.20/- p.i. and
maximum of Rs.255/Securities
per instruction
Rs.
60/per
Creation of pledge
instruction for pledge
in favour of PNB
whereas, in case of
Pledge
favouring
others: 0.040% of
transaction value min.
Rs.60/per
transaction
Modification of A/c
Other Charges
details - Rs.50/- per
request. Initially one
booklet (DIS) of 10
leaves
will
be
provided free of cost.
Extra DIS to be
charged @ Rs.1/- per
leaf.
Rs.
13
instruction
/-
per Rs. 13 /- per instruction
0.026% of market
value with minimum
of Rs.20/- p.i. and
maximum of Rs.255/per instruction
Rs.60/per
instructions
for
pledges in favour of
PNB whereas, in case
of Pledge favouring
others: 0.040% of
transaction value min.
Rs.60/- per transaction
0.026% of market value

with
minimum
of
Rs.20/p.i.
and
maximum of Rs.255/per instruction
Rs. 60/- per instruction
for pledge in favour of
PNB whereas, in case
of Pledge favouring
others: 0.040 % of
transaction value min
Rs. 60/- per transaction
NIL
NIL
14
Debit to Client A/c
16
Reconversion
of
Mutual Funds units
into statement of A/c
Redemption of M F
units
through
Participants
Pledge confirmation
Inter-Settlement
17
18
19
20
21
Rs.4.50
instruction
Rs.10.00
instruction
per
Rs.4.50
instruction
per
per
Rs.25 per instruction

Rs.4.50
per
instruction
per
Clearing
Member Rs.4.50
Pool to Clearing instruction
Member
Pool
Account Transfer
Settlement fee for House into the Pool
Clearing
Member a/c subject to a min.
Re.1.00
per
Pool account
instruction
for
(Receipt in charges)
securities
received
from the Clearing
Corporation/
Clearing of Rs.1,
000/- and a max.of
Rs.5,
000/per
quarter per Clearing
Member Account.
Rs.4.50
instruction
Rs.10.00
instruction
per
Rs.4.50 per instruction
per
Rs.10.00
instruction
Rs.4.50
instruction
per

Rs.4.50
per
instruction
NOT APPLICABLE

NOT APPLICABLE
NOT APPLICABLE
per
NOT APPLICABLE
On-Line Trading Alliance Guidelines (MBD CIR.NO. 40/2013 Dated 06.08.2013)

Online trading facility is a service whereby one can access brokers website through his/her
Internet enabled PC and place orders for purchase/sale of securities through brokers Internet
based trading platform. In order to provide online trading facility to our clients having Demat
Account with us, our bank has entered into following alliance: M/s. IDBI Capital Marketing Services Ltd. (in 2006)
M/s Networth Stock Broking Ltd. (in 2009)
M/s SMC Global Securities Ltd., (in 2009)
2. To avail the facility of online trading, a customer is required to have
9 Internet enabled bank account and
9 Demat account
9 Trading account
3. Trading account can be opened with any of the three aforementioned brokers. This facility, on
one hand benefits customer by providing all the three accounts on single platform and on the
other hand benefits bank in increasing fee based income.
4. Comprehensive guidelines on Online Trading alliance with M/s IDBI Capital Market Services
Ltd., were issued vide RBD-Depository circular letter No. 20/2006 DT. 20/11/2006 and with
SMC & M/s. Networth Stock Broking Ltd. vide RBD-Depository circular No. 1/2009 DT. April
8, 2009.
5. Salient features of the products offered by alliance partners along with check points for the
benefit of the branches are appended below.
6. Products on offer
1) Web Based Interface: Ideal for Active Traders, who transact frequently during days
trading session, provides access to online trading anytime, anywhere with Streaming
Quotes Interface.
2) Desktop Based Interface: Meant for those who are actively involved in the stock market
and do Bulk trading, is software based trading platform, offering comprehensive facilities
on a single screen, similar to that of a brokers terminal.
7. Salient features
Single Screen Trade: Allows clients to trade in NSE, BSE and F&O on a single screen
with real time streaming quotes.
Anytime/anywhere trading: Online platform facilitate trade from home, office or cyber
caf. Few clicks and trades are placed.
Instant Order/Trade Confirmations: Execution of transactions including settlement of
pay in/payout of funds & delivery and confirmation is instant.
Greater Transparency: Audit trail starting from order placement to settlement and
ending with credit to DP/fund account.
Online investment in IPO/FPO/MF:Facility to submit application on line in public
issues saves client the trouble of paper work.
Hassle-free trading: Integration of clients bank account, demat account and trading
account facilitates easy, paperless and high speed transactions.
Online back office: Provides financial statements, net position, settlement bills, delivery
reports, transaction statement, contract note etc.
8. Check points
9 Only resident Indian, HUF, Trust, Corporate and societies are eligible for online trading
facility.
9 SB/CA account with due compliance and internet banking facility in any of our branches.
9 Demat account having net viewing facility with any of the designated branches of PNB.
9 Compliance of KYC norms and other statutory requirements in case of SB/CA and
Demat a/c.
9 Only one trading account with one broking entity allowed per customer.
9 Only one bank account and one demat account can be mapped to the broking account.
9 Necessarily, same individual has to be the first account holder of the bank account, demat
account and the trading account.
9 Bank account & Demat account to be opened as per PNBs guidelines, NSDL guidelines
& SEBI guidelines and online trading account to be opened as per the process of the
broker.
9. Online trading is a value added service to our SB/CA customers and will help branches to
mobilize new accounts under CASA. Other benefits to the bank are:1) Increase in float for all savings bank customers applying for online trading facility,
2) Increase in depository business as all the alliance partners have agreed to refer all new
clients for broking services to PNB for deposit/demat account.
3) Increase in fee based revenues.
4) Strengthen the existing relationship with clients.
5) Can market its various in-house products.
6) Another step towards Universal banking.
10. ROLE & RESPONSIBILITY OF ONLINE TRADING ASSOCIATES
1) Establishing the link between DP & Payment gateway of PNB and trading portal.
2) Reviewing the implementation of business strategy
3) Providing of accurate information to PNB and clients.
4) Maintaining complete IT infrastructure in terms of hardware and software required for
running all online tools for the service.
5) Sharing referral fee/revenue with PNB so generated through the proposed alliance on
monthly basis as per mutually agreed terms and conditions.
6) Ensuring availability of suitably qualified and adequate personnel to handle this work.
7) Expeditious resolving of customers grievances
8) Ensuring system-based control on the trading limits of clients, and exposures taken by
clients.
9) Providing Relationship Managers/ sales resources at designated branches of PNB to
generate business and acquire clients for online broking services from these branches.
The cost of which shall be borne by Online Trading associates.
10) Imparting exhaustive training to the designated officials of PNB.
11) To ensure uninterrupted availability of connectivity between the Trading portal and DP
gateways & payment gateways with appropriate data encryption
11. ROLE & RESPONSIBILITY OF PNB
1. Promoting the product
2. Availability of IT infrastructure which will be required for online trading.
3. Assisting PNB customer to complete all three in one account opening formalities
4. Facilitate linking the existing Fund and Demat account of the customer intending
opening trading account with Online Trading Associates.
5. Providing the customer an authenticated login and password for entering into his Fund
and DP accounts through the Online Trading Associates portal
6. Providing earmarking/allocating/de-allocating facilities on Fund and DP account
enabling the customer to execute the buy and sell orders.
7. Transferring funds/ securities based on customers transaction executed with online

trading associates.
12. MIS
All the Online Trading associates will provide for the following data:
a)
Accounts Opened branch wise.
b)
Brokerage generated branch wise (Equity/Derivative/Commodities)
Mutual Fund Volume & Commission details.
c)
d)
No of Non Traders / Stopped Traders
13. It has often been reported by alliance partners that STAMP PAPERS and stationery required
for opening of Demat account is not available in the branches. Sitting space, access to telephone
to contact customers etc. is also not made available to the staff of alliance partners. Branches are
as such advised to:
keep adequate stock of stamp papers,

Make available other stationery like AOF for customer account and Demat account,
provide infrastructural support to the visiting marketing personnel of alliance partners,
monitor the leads provided to the staff of alliance partners and business procured,
Utilize the NCFM/NCDO qualified officer for handling Demat account related work and
queries.
14. Keeping in view of above, all are to provide required support to the marketing staff of
alliance partners to result in substantial increase in 3-in-1 accounts which in turn will be
instrumental in increasing CASA business. Any issues relating to depository and on line trading
business may be escalated through e-mail ebroking@pnb.co.inor pnbdepository@pnb.co.in.
Facility of e-Insurance Account to Banks clients
(MBD circular no.MBD/GEN/03/2015 Dated: 13.02.2015)
Insurance Regulatory and Development Authority (IRDA) has developed a system that will
store all insurance policies in electronic mode thus delivering benefits of insurance services in a
speedy, transparent, efficient, cost effective and secured manner to the policyholder. Insurance
Repository (IR) is a unique concept towards achieving this goal. IR is a central database wherein
every insured person/entity can have easy access to the details of their insurance policies and can
request for various services on such policies. Individuals can hold all the insurance policies in
electronic format in a single account. To begin with, this service is made available to Life
Insurance policies.
IRDA has entrusted NSDL Database Management Limited (NDML), a wholly owned
subsidiary of National Securities Depository Limited (NSDL) to set up and manage insurance
repository by granting approval on July 31, 2013. NDML has named its insurance repository as
National Insurance-policy Repository (NIR). Our Bank has become Approved Person
(AP) for providing e-Insurance account (eIA) facility to its clients.
In NIR, the proposer will open an electronic insurance account (eIA) and the insurance
company will credit the policies bought by the proposer in this eIA. Thus, the proposer can view
all the policies that they have purchased (presently only life policy) in a single eIA. It will do
away with all the lacunae of holding the insurance policies in physical form.
eIA will also facilitate common Know Your Customer (KYC) for eIA holder. The KYC done
while opening an eIA, will eliminate the need of separate KYC of the same proposer every time
an insurance policy is purchased. eIA also acts as a single point of contact for the account holder
to update demographic details with all the insurance companies with whom insurance policies are
held. It will also facilitate conversion of the existing paper policies into electronic policies at the
request of the policy holders.
Establishment of insurance repository is a huge development and a positive step for the reasons: Digitization helps clients to hold their financial assets in one place.
It saves the cost of stamp duty.
Benefits of holding Insurance Policies in electronic form

Safety: There is no risk of loss or damage of a policy as is common with paper policies;
the electronic form ensures that the policies are in safe custody and can be easily
accessed whenever and wherever needed. A copy of the policy can be downloaded at any
time.
Convenience: All Insurance policies, be it life, pension, health or general, can be
electronically held under a single e-Insurance A/ct.. The details of any of the policies can
be accessed at any time by logging on to the online portal of Insurance Repository.
Single Point of Service: Service requests in respect of e-Insurance Account or any of the
electronic policy can be submitted at any of Insurance Repositorys service points. A
single request can sometimes cater to the requirements of several Insurers. As an
illustration, a single change of address request made to the Insurance Repository can
update the policies issued by multiple Insurers.
Single view: Single view of all policies will be made available to an authorized person in
case of death of the e-Insurance Account holder.
Benefits of holding Insurance policies in electronic form to client
The Insurance Repository does a KYC to open an e-Insurance Account and provides a
welcome kit and helps with the details of how to use the account.
The e-Insurance A/c & all servicing would be offered Free of cost to the policy holder.
The policyholders at the time of taking a policy or any time later can make a request for
an e-Insurance account with the Insurance Repositories and have the policies credited to
the account.
Both new and existing Life, Annuities, Health and General insurance policies can all be
credited to this account. However, during the initial phase, the Life insurance policies
would be credited to this account. The General insurance and Group insurance policies
would be credited subsequently.
The Insurers would be sending an insurance information sheet containing the basic details
of insurance policy when a new electronic policy is issued.
The Insurance Repositories provide facility for online payment of premiums by the policy
holders and payouts(claims) by the Insurers and handle several other servicing needs.
Upon receipt of a service request, the Insurance Repository would handle areas that fall
within scope of their services directly and would forward the others to the Insurer.
The policyholder can appoint an Authorized Representative who can access the eInsurance Account on the demise/disability of the policyholder to facilitate the nominees
in the claim processing.
The e-Insurance Account holder will have an option to shift from one repository to the
other.
A statement of account giving the details of all policies held electronically shall be
provided annually.
The e-Insurance Account holder will get SMS alerts and e-mail alerts on premium and
maturity claim updates.
Difference between Depository Participants (DP) and Approved Person (AP)
Depository Participant (Bank)
DPs has access to the holdings in demat
account of client
DPs are required to send communication
upon opening of Demat account
Approved Persons (Bank)

APs will not have access to the holdings of eInsurance Account holder
AP (Bank) is not required to send any
communication to client instead NIR will be
dispatching welcome kit to e-Insurance Account
holders.
DPs
are
required
to
dispatch AP (Bank) is not required to send any e-IA
holding/transaction statements to their statement to clients instead NIR will dispatch eclients
IA statement once in a year.
DPs are allowed to charge their clients for AP (Bank) is not allowed to charge their clients
services offered
for services offered. However, Bank will receive
a commission from NIR for account opening
and other related services.
Activities to be performed by AP
i.
To receive the eIA opening form from the individual/ entity and ensure that the Know
Your Customer (KYC) documents are attached. Verify the information with original
documents and carryout the Know Your Customer (KYC) process as mentioned in
the guidelines.
ii. To capture the information submitted by the eIA applicant in NIR system accurately
as mentioned on the eIA opening form.
iii. To ensure maker / checker concept is adhered while capturing the information and
Uploading the captured data to the NIR system.
iv.
v.
To scan the eIA application form along with the supporting KYC document, Tag the
scanned images to correct eIA and upload it to the NIR system
Service any eIA related change requests from eIA holder by carrying out KYC
process wherever applicable or any other service request as required by Insurance
Industry, NIR from time to time.
Infrastructure required at branches

Bank is not required to create any new infrastructure for providing e-IA facilities to its
clients. Only the facility of internet access and scanning of KYC documents is required
which is available in the branches. Further, no specific training/certification is required from
NSDL/SEBI/ IRDA. As such, any official of the branch having user ID and Password issued
by DBO can complete the formalities under maker and checker system.
Initially, e-IA Opening facility will be centralised at Depository Back Office, New Delhi.
After getting needful customisation in the system, this facility would be made available to all
branches through e-Stock server (through which demat accounts are opened by all branches)
and user ID and password will be created for the purpose at the relevant time.
KYC Documents
The following KYC documents are required for opening an e-Insurance Account:i) Recent passport size Colour Photograph
ii) Proof of Identify (Any One of Aadhar Card and Pan Card)
iii) Date of birth Proof
iv) Proof of Address
Role and responsibility of branches
Services to be rendered by the branches for opening of eIA under Insurance repository are as
under
To acquire eIA application, along with Proof of Identity, Proof of Address and Proof
of Date of Birth from the client for opening of Insurance Repository account.
Verification of details mentioned in application on the basis of KYC documents
submitted by the client (KYC documents from the list prescribed by IRDA)
Verification of photo copy of the KYC documents with originals and to attest those
documents (signatures with GBPA no) and placing branch stamp.
Branch will also place the legible stamp having branch name and Dist.No on e-IA
application and also write the name & contact no. of the dealing official on right
corner of the form.
eIA application form and duly attested KYC documents, shall be scanned and
emailed to Depository Back Office (DBO) at pnbdepository@pnb.co.in or shall be
faxed to them at 011-2373755. Thereafter, original documents to be sent to DBO.
However, keeping in view the nominal commission to be received for opening e-IA
account from NDML and to avoid postage expenses per account, branches are
advised to send the original e-IA application and KYC documents to DBO in lots of
preferably 10 to15 accounts per despatch.
All requests for change of address, change in bank account details, change in
authorised representative & change in contact details shall be accepted along with
necessary supporting documents and after proper verification, same shall be
forwarded to Depository Back Office, New Delhi either through fax or scanning as
mentioned above.
Role of Depository Back Office (DBO), New Delhi
DBO shall receive the copy of eIA application along with KYC documents from the
branches through Fax or email.
DBO shall check the documents received for proper authentication by the branches
and to ensure that details filled in eIA application are as per the KYC Documents.
DBO may also cross check the details of bank account provided in AOF of e-IA with
CBS system.
If the eIA form and KYC documents are found in the order, the same shall be entered
and verified by DBO in NIR portal as per attached manual.
Till customisation of the reports in the NIR system, DBO shall enter all eIA
application received by it from the branches in a register with following columns
(i) Sl. No. ( to be marked on the eIA form), (ii) Dist. No. and name of the branch, (iii)
Circle Office, (iv) Name of the applicant (vi) date of receipt of eIA application form
(vii) Acknowledgment number (generated after entering the data in NIR by maker)
(viii) Account number (generated after verifying the data in NIR by checker)
DBO has to forward the Policy Conversion Form to NSDL Insurance Repository,
NSDL Database Management Limited, 4th Floor, 'A' Wing, Trade World, Kamala
Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai-400013 (INDIA).
Once e-Insurance account is opened in the system, NDML will send Welcome Kit with details of
e-Insurance Account and modus operandi of its operation, the login ID and password etc. to the
client. Thereafter, client can get converted their existing policies into electronic form.
Policy Conversion Process
Client has to fill up Policy Conversion Form which can be downloaded from
www.pnb.net.in or https://nir.ndml.in/nir-prossess.htm. (separate Policy
Conversion Forms are to be filled for insurance policies of different insurance
companies).
A Client has following options to Submit the Policy Conversion Form:o Nearest insurance company branch (Policy Conversion Form should be
submitted to the insurance company of which client hold policy).
OR Nearest Approved Person (AP) i.e. nearest PNB Branch
o OR Courier to NDML.
o OR Scan and email Policy Conversion Form at helpdesk.nir@nsdl.co.in and
forward hard copy of form to above address.
Existing physical policy documents are not required to be submitted along with
the Policy Conversion Form.
Upon receipt of policy conversion request, insurance company will credit the policy
in clients e-Insurance Account.
Client will receive SMS and email alert from NIR informing credit of the policy to
his/her e-Insurance Account.
Client can also submit Policy Conversion Form along with e-Insurance Account
Opening Form to the branches.
DBO has to forward the Policy Conversion Form to NDML.
Communication to e-Insurance Account Holders
Approved Person (Branches) are not required to send any communication to e-Insurance
Account Holders. However, NDML will provide the following facilities to clients Welcome Kit with details of e-Insurance Account and modus operandi of its
operation, the login ID.
A Pin mailers with the password.
The statement of account giving the details of all policies held whenever additional
insurance is taken or a policy matures/surrendered/lapses would be provided to the eInsurance Account holder.
When a new policy is issued the insurer shall send an Insurance information sheet
containing the basic details of Insurance policy to the address stated.
Record Keeping
Bank as approved person is required to retain and store the documents. As such, DBO will
preserve the original documents as per Banks laid down guidelines/procedure.
Grievance Redressal
NDML has established a Cell to address grievances of policy holders in respect of repository
services and electronic policy held by them. Contact No. and email ID is as under:Address: NSDL Database Management Limited, 4th Floor, 'A' Wing, Trade World,
Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai-400013.
Phone No: 91-22-49142631/49142502
Email: helpdesk.nir@nsdl.co.in
Client can also submit grievance Online (NIR Home Page > quick links > grievance/query).
Charges levied from the staff/customers
Account Opening Nil
Annual Maintenance Contract (AMC) Nil
Other Charges - Nil

Bank will receive nominal charges/commission for providing above services from NIR
which will be shared with the branches on 50:50 bases.
MUTUAL FUND
Name/Title of the Products: Mutual Fund distribution - Principal Mutual Fund, UTI Mutual
Fund
Target Clients/ group: Individuals and Corporates
1. Product features:
A common pool of money into which investors place their contributions to be
invested in accordance with a stated objective
The ownership of the fund is joint & mutual
The fund belongs to all investors
Ownership is proportionate to contribution made by one
Option of Lump sum investment and monthly investment through SIP
(systematic Investment plan) by the customer
2. Benefits to bank:
To provide all financial investment options to our customers at one touch point.
Earns fee-based income for bank
A customer already investing in Mutual Fund through other channels should be
provided the option to invest through our bank as in any case he is investing in
MF. So it helps in customer acquisition/retention.
In developed countries like US, 50% of the total investments are in mutual funds.
3. Unique Features of investment through Mutual Fund:
Professional Management
Diversification
Convenient Administration
Return Potential
Low Costs
Liquidity
Transparency
Flexibility
Choice of schemes
Tax benefits
Well regulated
4. MUTUAL FUND SCHEMES

BASED ON STRUCTURE:
Open Ended Schemes
Closed Ended Schemes
Interval Schemes
BASED ON INVESTMENT OBJECTIVE:
Growth Schemes
Income Schemes
Balanced Schemes
Money Market Schemes
BASED ON OTHER ASPECTS:
Tax Saving Schemes
Special Schemes
Index Schemes
Sector Specific Schemes
5. TYPES OF MUTUAL FUND BASED ON OPERATION
Close Ended Fund:
Initial Public Offer.
Investor cannot buy units later on from MF.
Listed on the Stock Exchange.
Traded on Stock exchange at a discount to NAV.
Redemption of Units on expiry date.
Unit Capital Constant
Open Ended Fund:
Units available for sale / purchase at all times at NAV based prices.
Unit Capital variable.
Currently most funds are Open ended.
Liquid Funds:
Investment in securities of less than 1 year maturity
High liquidity & safety of principal.
Low risk and low returns
e.g. Principal Money Manager Fund
Debt/Gilt/Bond Funds:
Investment in Bonds Debentures and Govt. Securities.
Aims at regular income distribution and not at capital appreciation
e.g. Principal Income Fund, Principal Govt. securities fund.
Equity Funds:
Investment mainly in equities
High Risk, High Returns, e.g. UTI Growth Fund (Equity Diversified),
Balanced Funds:
Investment partially in debt and equity, e.g. UTI Balanced Fund
Sectoral Funds:
Investment in a dedicated sector like banking, pharma etc.
Principal Service Industries Fund (Sectoral fund investment in service
sector)
6. SYSTEMATIC INVESTMENT PLAN (SIP) CONCEPT AND FEATURES
Investing a fixed sum, regularly in a mutual fund
Allows one to buy units in a particular scheme on a given date every month
Similar to regular savings schemes like a recurring deposit
Advantages of SIP
The reason that mutual funds are so popular is that they offer the ability to easily invest in
increasingly more complicated financial markets. A large part of the success of mutual
funds is also the advantages they offer in terms of diversification, professional
management and liquidity.
Power of Compounding - The longer the period of your investment, the more wealth
you accumulate because of the power of compounding. Thats why it makes sense to start
investing early. Simply put, the incremental returns that you earned on your principal
plus the accrued gains is compounding.
Rupee Cost Averaging - Most investors want to buy stocks when the prices are low and
sell them when the prices are high. But timing the market is time consuming and risky. A
more successful investment strategy is to adopt this method called Rupee Cost
Averaging. By investing in an SIP you end up buying more units when the price is low
and fewer when the price is high.
A monthly SIP helps in averaging out the cost of purchase and benefit from power of
compounding.
It also helps in creating wealth over a longer time period.
7. STP (Systematic Transfer Plan)
At regular intervals, an amount as per option is transferred from one mutual fund scheme
to another. Typically, a minimum period of six months of such transfers is to be agreed
on by investors.
As per need a daily, weekly, monthly or a quarterly transfer plan can be selected
How is it useful
STP is a useful tool to take a step by step exposure into equities or to reduce exposure
over a period of time. e.g. - you have Rs. 10 lac to invest in equity over a period of time.
You could put this amount in the liquid fund of a mutual fund or a shortterm bond
fund. This gives an opportunity to earn liquid/ debt fund returns on the residual amount
which remains in the source scheme. You then start an STP where every month a
predetermined amount will be invested into an equity fund. This helps in deploying
funds at regular intervals in equities with minimum timing risk. Typically the STPs are
useful to take advantage of the volatile equity markets wherein, instead of investing all
the inevitable amount by the investor at one go, he spreads his investments over a time
period, thus lowering his cost of purchase while getting some fixed income returns on his
balance money n a liquid/ debt scheme
8. Important Terms
Net Asset Value (NAV): Net Asset Value is the market value of the assets of the scheme
minus its liabilities. The per unit NAV is the net asset value of the scheme divided by the
number of units outstanding on the Valuation Date.
Sale Price: Is the price you pay when you invest in a scheme. It is also called Offer Price. It
may include a sales load.
Repurchase Price: Is the price at which units under open-ended schemes are repurchased by
the Mutual Fund. Such prices are NAV related.
Redemption Price: Is the price at which close-ended schemes redeem their units on
maturity. Such prices are NAV related.
Sales Load: Is a charge collected by a scheme when it sells the units. It is also called, Frontend load. Schemes that do not charge a load are called No Load schemes.
Repurchase or Back-end Load: Is a charge collected by a scheme when it buys back the
units from the unit holders.
9. Distribution Agreement with Tie up Partners
The Bank has entered into Distribution Agreement with Principal PNB Asset Management
Company and UTI Asset Management Company. Salient features of terms and conditions of
these agreements are given below:
(A) Principal Asset Management Company
Punjab National Bank has entered into distribution agreement with Principal Asset
Management Co. on 05.05.2004. The agreement is effective from the agreement date and shall
remain effective unless terminated by the parties.
The salient features of the agreement are as below:
Principal AMC shall provide training to the identified employees of the Bank who shall
be engaged in the marketing and distribution of the products.
Principal AMC will bear the costs and expenses in relation to the content and training
materials, however expenses related to travel, boarding or lodging shall be borne by the
Bank.
The costs of fees and other charges in respect of AMFI certification of the identified
employees shall be borne by the Bank.
The Bank will promote and support the distribution of the products and provide necessary
space in the branches to prominently display AMCs banners and marketing materials.
The AMC shall prepare up-to-date literature and information materials pertaining to the
products and make them available to the Bank.
The Bank shall actively introduce the products to its existing as well as potential clients
and business contacts including corporate clients.
The Bank shall carry out periodical advertising campaigns in the branches, including
investor mobilization drives.
The AMC shall pay commission to the Bank Partner for selling the Products at the
standard rates.
(B) UTI Asset Management Company

Likewise Bank has entered into an agreement with UTIAMC on 22.11.2006 for distribution of
products of UTI Mutual Fund as its corporate agent. The agreement shall continue to subsist until
it is terminated by mutual consent.
The salient features of the agreement are as below:
UTIAMC shall pay commission at the rate agreed upon in respect of business handled by
the bank every month after deduction of all applicable taxes.
UTIAMC shall give necessary publicity to the distribution arrangement by way of
advertisement. Besides, UTIAMC shall arrange for AMFI/NISM certification training for
the Banks eligible employees and shall bear the required examination fees.
The designated branches shall accept the application for subscribing to the specified
schemes of UTI mutual fund which are supported with remittances and the application
received from PNB shall be processed by UTIAMC.
UTIAMC shall notify and inform the Bank about the guidelines/instructions issued from
time to time by SEBI, AMFI or any other regulatory authority and Govt for compliance.
Both parties shall use all reasonable care in rendering the services and performing their
duties and obligations under the agreement and the same shall be of the highest quality to
the best of their ability.
10. Gist of some of the schemes of PPAMC and UTI AMC

To suit various types of requirements of the investors, some of the schemes of Principal PNB
AMC & UTI AMC are as under:
PRINCIPAL PNB AMC
Principal Growth Scheme: Open-ended equity fund with an investment portfolio of
stocks diversified across different sectors of the economy.
Principal balanced Fund: Open ended fund with an equity (diversified) component of
51% to 70% and Debt component (including Money Market) 30% to 49%.
Principal Income Fund: Open-ended fund with up to 100% investment in Debt
instruments (including Money Market instruments and securitized debt)
Principal Income FundShort Term Plan: The scheme is meant for investors seeking
stable returns over shorter-term investment horizons compared to Principal Income Fund.
Principal Cash management Fund: An Open-ended fund that invests 100% of its
corpus in Money Market instruments and seeks to provide an excellent avenue to park
very short term cash surpluses and earn returns linked to the call money market rates.
Principal Index Fund: An Open-ended fund that tracks S&P CNX Nifty (NSE) closely.
The aim of the fund is to provide its investors returns commensurate with the Nifty.
Principal Large Cap Fund: An open-ended scheme to invest in the stocks of the
companies having a large market capitalization. The fund is suitable for investors
interested in long term capital appreciation.
Principal Child Benefit Fund: The scheme is suitable for an investor seeking long-term
growth and accumulation of capital for the beneficiary. The objective of the scheme is to
generate regular returns and/or capital appreciation / accretion with the aim of giving
lump sum capital growth at the end of the chosen target period or otherwise to the
Beneficiary.
Principal Global Opportunities Fund: It is an open-ended growth fund. The fund is
suitable for investors who would like to diversify investments into other markets / securities
by taking advantage of the potential growth in the global markets and thereby reduce the risk
of having a portfolio predominantly invested in India. The investment objective of the
scheme is to build a high quality International Equity portfolio out of the permissible
investments as defined and permitted under the regulations from time to time and provide
returns and/or capital appreciation along with regular liquidity to the investors.
Principal Infrastructure & Service Sector Fund: An open-ended Equity Scheme with
an objective to provide capital appreciation and income distribution by investing
predominantly in Equity/Equity related instruments of Infrastructure & Service Sector
companies.
Principal Tax Savings Fund: An open-ended Equity linked savings scheme suitable for
investors seeking income tax deductions under section 80C(2) of Income Tax Act along
with long-term equity-market returns from investment in equities.
Principal Personal Tax Saver Fund: The scheme is suitable for investors seeking
income tax deductions under section 80C (2) of ITA along with long term equity-market
returns from investment in equities.
Principal Monthly Income Plan: An open-ended income scheme having periodical
distribution with no assured monthly returns. MIP attempts to provide income on a
monthly basis and is, therefore, particularly suited for investors seeking regular source of
income.
UTI MUTUAL FUND
UTI Opportunities Fund : An open ended equity fund scheme with focus to capitalize
on opportunities arising in the market by responding to the dynamically changing Indian
economy by moving its investments amongst different sectors as prevailing trends change
UTI Infrastructure Fund: (Formerly known as UTI-BASIC INDUSTRIES FUND):
An open ended equity fund with the objective to provide Capital appreciation through
investing in the stocks of the companies engaged in the sectors like Metals, Building
Materials, Oil & Gas, Power, Chemicals, Engg. etc.
UTI Mid Cap Fund : An open ended equity fund with the objective to provide Capital
appreciation by investing primarily in Mid Cap stocks.
UTI Large Cap Fund: An open ended equity Fund with the objective to provide capital
appreciation through investment in top 50 companies in terms of market capitalization.
UTI Services Sector Fund: An open-ended fund which invests in the equities of the
Services Sector companies of the country. One of the growth sector funds aiming to
provide growth of capital over a period of time as well as to make income distribution by
investing the funds in stocks of companies engaged in service sector such as banking,
finance, insurance, education, training, telecom, travel, entertainment, hotels, etc.
UTI Leadership Equity Fund: The scheme seeks to generate capital appreciation and /
or income distribution by investing the funds in stocks that are Leader in their
respective industries /sectors / sub-sector.
UTI Dividend Yield Fund: An open-ended equity scheme. It aims to provide medium to
long term capital gains and/or dividend distribution by investing predominantly in equity
and equity related instruments which offer high dividend yield.
UTI Index Select Fund: An open-ended equity fund with the objective to invest in select
stocks of the BSE Sensex and the S&P CNX Nifty. The fund does not replicate any of the
indices but aims to attain performance better than the performance of the indices.
UTI Equity Fund: UTI Equity Fund is open-ended equity scheme with an objective of
investing at least 80% of its funds in equity and equity related instrument with medium to
high risk profile and upto 20% in debt and money market instruments with low to
medium risk profile.
UTI MNC Fund: An open ended equity fund scheme with objective to be invested in
stocks of Multinational Corporations and other liquid stocks.
UTI Childrens Career Plan (Balanced): An open-ended debt oriented fund with
investment in Debt/G-sec of minimum 60% and a maximum of 40% in Equity.
Investment can be made in the name of the children upto the age of 15 years so as to
provide them, after they attain the age of 18 years, a means to receive scholarship to meet
the cost of higher education and/or to help them in setting up a profession, practice or
business or enabling them to set up home or finance the cost of other social obligation.
UTI Wealth Builder Fund Series II: An open ended scheme, the fund under this
scheme is invested predominantly in diversified portfolio of equity and equity related
instruments along with investments in Gold ETFs and Debt and Money Market
Instruments.
OPERATIONAL GUIDELINES
11. AMFI:
As per SEBI guidelines, Association of Mutual Fund of India (AMFI)/National Institute
of Securities Markets (NISM) Certified Intermediaries engaged in marketing and selling
of Mutual Fund schemes are required to be registered with AMFI after passing AMFI/
NISM Certification Test.
Branches mobilizing Mutual Fund business should have at least one MF certified
employee and also motivate employees to qualify any of the following examinations:
1. NISM-Series V-A-Mutual Fund Distributors (MFD) examination.
2. NISM-CPE certification (NISM-CPE) - for employees who are 50+ years as on
31.05.2010.
All marketing team members (MTMs) are expected to get this qualification. The
employees, who are certified in either of the above, should also be registered with AMFI
under Banks code ARN-8418 for EUIN (Employee Unique Identification Number)
which is mandatory to be mentioned in each and every application form.
The AMFI registration fee of Rs.3000/- to Rs.500/- (i.e. Rs.3000 per person for first 100
employees, incremental 101 to 200th employees Rs.2000, incremental 201 to 500th
employees Rs.1000, incremental above 500th employees Rs.500) is to be borne by the
bank and the same may be incurred under the expenditure head: Misc. revenue expenses.
All the employees qualifying AMFI/NISM-MFD/NISM-CPE, their details should also be
updated in HRMS so as to maintain proper record.
12. WORKFLOW OF MUTUAL FUND
Investor hands over application & cheque to AMFI (Association of Mutual Funds in
India) qualified official.
For Mutual Fund business, Bank is registered with AMFI under ARN code-8418.
AMFI offices are advised to ensure that Banks details are mentioned as under in all the
applications sourced under our tie-up partners products/schemes:
ARN
8418
Broker Name
PNB
Sub-Broker code
Branch 4 digit D. No.
Please note that not mentioning the above details on the application may result in revenue
leakage.
It is important to mention the Branch Distinctive Number (1st four digits only) under the
sub-broker code as otherwise the business mobilized by the branch will not get reflected
in their performance and instead would reflect in not in master details. The brokerage
income earned relating to the business mobilized will be booked under the branchs
income only if the Branch D.No. is mentioned correctly in the application.
Further, it be ensured that Mutual Fund income is booked under Revenue head 2032602.
Of late, HO Marketing Division has been crediting revenue head- Mutual fund Brokerage
Income (Revenue Code 2032602) directly to the respective branches based on MIS
received from respective AMCs.
The application and cheque is deposited with the mutual fund company by 3.00 pm to get
the units allotted on the same day NAV.
Depending upon NAV, the units are allotted to the investor.
The mutual fund company invests the pooled amount in different types of securities such
as equity, bonds, Govt. Securities, etc. (As per the objective of the scheme , chosen by the
investor)
Mutual fund company sends the statement of accounts to the investor
For daily NAVs, investor can log on to the website of the Mutual Fund Co. or AMFI at
www.amfiindia.com
13.
COMPLIANCE OF RBIs DIRECTIVE FOR DISCLOSURE OF

COMMISSION/FEE ON INSURANCE/MUTUAL FUND BUSINESS
(Marketing Division circular no. 26/2013 dated July 24, 2013)
(i) The brokerage structure for Mutual Fund business is communicated to us by our
Mutual Fund partners on quarterly basis. Principal-PNB & UTI AMCs have provided
revised brokerage structure relating to Mutual Fund business, effective from 1st July,
2013. Similarly, PNB MetLife has updated its commission structure by incorporating
commission rates of newly launched products.
(ii) Accordingly, the latest/revised structure applicable to these products is required to be
displayed in the branch, at a conspicuous place.
(iii) The revised/latest commission structure for Mutual Fund tie-ups with Principal-PNB
AMC & UTI-AMC have also been got displayed on banks website www.pnbindia.in
for information of the customers.
(iv) The revised/latest scheme-wise commission structures, applicable to mutual fund
business, have been got displayed on banks intra-net website PNB Knowledge Centre
in Knowledge Repository Section.
14.
Compliance of KYC/AML norms

In order to obviate mis-use of aforesaid wealth management products by unscrupulous
elements, as a conduit for investment of black money, it has become imperative to ensure
compliance of KYC/AML norms while marketing these wealth management products. It
is, therefore, reiterated that guidelines issued by the bank, from time to time, with regard
to KYC/AML/reporting of suspicious Transactions (STRs), is also applicable while
distributing aforesaid wealth management products. Besides, compliance of guidelines
circulated to the field by KYC Cell, HO, the documents required to be obtained from the
customers for compliance of KYC/AML norms as per system prescribed by tie-up
partners, should also be obtained by the field staff engaged in selling of wealth
management products.
Marketing of Third Party Products, inter-alia requires certain other documents besides
standard KYC stipulations, to be collected from the customers, which include: Recent Photograph
Proof of Income
The Role of authorized bank officials/SPs in KYC validation is as under:
Know the background of the customer before sourcing the business.

Meet the customer personally and interact with him/her.
Check the original KYC documents before attesting the proof with Original Seen and
Verified (OSV) with his/her name, code, signature and stamp.
Obtain customer's self-attestation on all the documents collected.
Complete the Application form and supporting documents before handing over the
proposal form /application for login to authorized persons of Third Party Products
partners.
Report all suspicious behavior and suspicious identity of the customers to the branch
incumbents/CO/HO.
It is reiterated that above guidelines may be strictly observed for KYC/AML compliance
while offering all Third Party Products to our customers. In order to facilitate the
documentation for sale of these Third Party Products, a functionality has been introduced
to enable the certified persons/ SPs to extract a system generated KYC Compliance
Certificate. This certificate can be generated from the System in CBS (MIS) at pnbrpt
09/178. All branches/certified persons /SPs are advised to make use of this report for
generating KYC Compliance Certificate before sourcing of Third Party Products
business.
In case the generated report shows deficiencies then corrective action should be taken to
make the account KYC Compliant before sourcing Third Party Products business.
15.
Additional Guidelines:
In addition to above, compliance of the following guidelines should be ensured while
marketing wealth management products:
a. Usually, the premium for Fresh Life-insurance policies be paid by customers through
cheque/draft/debit to the account.
b. Where customer wants to pay premium for life-insurance policy in cash, branches
should accept the same below the thresh-hold limit of Rs.50000/- which should be
subject to compliance of KYC/AML norms. However, insurance companies are
permitted to accept premium in cash beyond Rs.50000/- subject to obtaining of
PAN/Form No.60/61, as per IRDA guidelines.
c. Sale of gold coins in cash should be below the thresh-hold limit of Rs.50000/- per
customer, per day and subject to quoting of PAN No. by the customer.
d. No structuring of cash transactions should be allowed with the intention to keep the
transaction below the thresh-hold limit of Rs.50000/-.
e. In case of payment of premium through Credit Card/NEFT/RTGS modes, compliance of
KYC/AML guidelines should be strictly complied with.
f. Sundry/Margin Money/Non-customer inter-branch Accounts should not be used for
payment of premium to life-insurance company or sale of gold coins.
g. Compliance of KYC/AML norms should receive special care in case of walk-incustomers.
h. Any suspicious transaction observed while marketing/selling of wealth management
products, should be reported to Financial Intelligence Unit (FIU) India, as a STR, as
per system prescribed in the aforesaid circular.
i. Insurance and mutual fund products sold to our customers should match to the customers
profile.
j. The third party products should be sold only through qualified bank employees, i.e.
IRDA certified Specified Persons in the case of insurance and AMFI/NISM certified
bank employees in case of mutual fund products. The Code of Conduct prescribed by
the IRDA for Specified Persons should be strictly adhered to.
k. The third party products should be marketed/distributed only after assessing customers
need, ascertaining his financial status, income, etc. so as to avoid any mis-selling.
Enquiry should also be made about the source of funds being invested. Participation by
the customers should be on voluntary basis and there should not be any forced sale.
l. Compliance of Know Your Customer (KYC) standards and Anti-money Laundering
(AML) norms (including reporting of STRs), issued by the bank from time to time,
should be strictly adhered to. Compliance of KYC/AML norms in case of walk-incustomers should receive special care. In addition to compliance of guidelines circulated
to the field by KYC/AML Cell, HO, the documents required to be obtained from the
customers for compliance of KYC/AML norms as per system prescribed by tie-up
partners, be also obtained by the field staff engaged in selling of third party products.
m. The branches should provide efficient post sales services to the customers to whom third
party products have been sold. Complaints received, if any, from such customers, should
be promptly dealt with as per Complaint Process Document circulated to the branches
vide Marketing Division Circular No.43/2012 Dated 06/12/2012 and placed at banks
intra-net website PNB Knowledge Repository.
n. All other guidelines issued for marketing/sale of wealth management products should be
strictly adhered.
RELEVANT CIRCULARS:
Marketing Division Consolidated Circular No. 12/2014 dated 04.03.2014, Marketing Division
Cir. No. 18/2014 April 17, 2014; Circular No. 40 /2014 dated 17.12.2014
GOLD COIN BUSINESS (On Consignment Basis)
(As per RBI notification dated 14th August 2013 and policy of Govt. of India, Gold coin
business put on hold)
Gold coins are supplied by M/s MKS Finance S. A. Zurich which owns worlds largest
independent & prestigious gold refinery PAMP (Produits Artistiques Metaux Precieux).
Commenced 16.10.2006.
Gold imported to remain on consignment for one month. After one month, provisional
payment equal to 110% of the cost of unsold stock of gold to be remitted by FEO.
Bank receives interest on the Provisional Payment @ LIBOR - .20bps p.a.
Bank pays lease rent on the unsold coins @ LGLR +100 bps p.a. LGLR is London Gold
Lease Rate.
G24 carat, 999.9 fineness
Available in 2 gm, 5 gm, 8 gm, 10 gm & 20 gm with PNB Logo. (can be customized in
case of bulk requirements)
Supplied by PAMP, Switzerland worlds largest gold refinery.
Assay certified number on each gold coins signifying highest level of purity as per
international standards.
Tamper proof certicards packing
Competitively priced
2% Discount available through CBS to all existing Customers of the bank on purchase of
Gold Coins.
RELEVANT CIRCULARS:
Marketing Division Cir. No. 34/12 dt. 18.09.12; 41/12 dt. 20.11.12
{IBD circular No. 2/2006 dt. 13.10.2006; ITD-CBS Cir. No. 64/06 dt.16.10.2006 & 66/06 dt.
28.10.2006; RBD deposit Cir. No. 23/09 dt. 20.07.09}
INSURANCE BUSINESS
SEGMENTATION:
LIFE-INSURANCE
NON-LIFE INSURANCE
LIFE-INSURANCE (MARKETING DIVISION CIRCULAR NO. 14/2014 dated April 3, 2014)

1.1 The bank had commenced Life Insurance Business under Referral Arrangement Tie-up with
LIC of India, w.e.f. April, 2009, which was subsequently upgraded to Corporate Agency on
30.03.2011.
1.2 Bank stopped doing Life Insurance Business with LIC of India, w.e.f 28.09.2011 and our
Corporate Agency license was transferred to M/s PNB MetLife India Insurance Company Ltd.
w.e.f. 13-10-2011.
1.3 The name of MetLife India Insurance Company Limited stands changed to PNB MetLife
India Insurance Company Limited w.e.f. 22-01-2013 and bank is now a Corporate Agent of
PNB Met Life India Insurance Company Ltd. (PNB MetLife).
1.4 The Corporate Agency Licence of PNB MetLife stands renewed by the Insurance Regulatory
& Development Authority (IRDA) upto 16-02-2017.
2. Roles and Responsibilities of PNB & PNB MetLife:

2.1 In terms of Insurance Regulatory and Development Authority (IRDA) regulations, 2002 for
licencing of Corporate Agents, a Corporate Agent must have a Chief Insurance Executive (CIE).
The business under the corporate agency can be mobilized through qualified staff having passed
IRDAs bancassurance examination. Accordingly, the bank has deployed Specified Persons for
undertaking life-insurance business.
2.2 PNB MetLife is also having certain obligations in terms of guidelines prescribed by the
IRDA and as per corporate agency agreement executed with the bank.
2.3 The specified persons deployed by the bank and the sales team inducted by PNB MetLife are
working in close coordination with each other for success of the tie-up arrangement with PNB
MetLife. For the sake of clarity and smooth conduct of the business, Roles and Responsibility
have been defined, with regard to the various functions to be performed at corporate level & by
the Field functionaries/sales staff of both the organizations.
3. Deployment of Specified Persons (SPs) their Role & Responsibilities:
3.1 In terms of extant IRDA guidelines, the life-insurance business under PNB MetLife
corporate agency is to be mobilized by trained bank employees licenced as Specified Persons
(SPs) by the IRDA.
3.2 Bank staff members have to undergo requisite training and pass IRDA Examination for
becoming SP.
3.3 At present, 4189 PNB Officials are qualified as Specified Persons for doing Life-insurance
business. All bank branches have been mapped to these SPs by adopting cluster approach.
3.4 Explaining of product features to the prospective customers and obtaining of proposal form
and supporting documents are key responsibility areas in mobilizing life-insurance business.
4. Modalities for Mobilizing & Sourcing Business & Login of Business:

4.1 All PNB Braches are authorized to mobilize life-insurance business under PNB MetLife
corporate agency.
4.2 PNB MetLife products, which can be leveraged for enhancing Life-Insurance business:
a) EMPLOYER-EMPLOYEE INSURANCE :
Employer Employee insurance is a special policy where the company takes insurance
on the life of its employee. The Person Insured (PI) is the Employee and
Proposer/Premium payer is the Employer (Company/ Organisation/ Association).
b) HINDU UNDIVIDED FAMILY (HUF) INSURANCE POLICY:
It is a type of Policy which is taken by the Karta of HUF on the life of Karta or
Coparcener. This policy is mainly opted for the purpose of Tax benefits. Policy is
financed by the HUF funds and the HUF enjoys tax concessions. A person having
personal income and income as Karta of HUF can avail income tax exemption for the
eligible limit under both the categories, independently.
c) MARRIED WOMAN PROPERTY(MWP) INSURANCE:
MWP insurance can be defined as a special insurance provided by section 6 of the
Married Womans Property Act, 1874 to all married men, where he purchases insurance
on his own life but is expressed as a benefit for his wife and children on face of it and is
guarded by a trust, so that the money received at the death or maturity of the policy is not
in the control of the husband (PI), or to his creditors, or form part of his estates.
The User Guides on the above products & Document containing FAQs on Assignment of
Life-Insurance Policy, are uploaded on banks intra-net portal i.e. PNB Knowledge Centre,
Knowledge Repository.
4.3 PNB MetLife has its Regd. Office at Bangalore & Corporate Office at Gurgaon, with a
network of 161 branches across the country. All PNB Branches/Circles are mapped to the PNB
MetLife Offices. Each PNB Branch is allocated to Relationship Officer of PNB MetLife.
4.4 For prompt login of business and its on-going monitoring, Met Smart System comprising
of the following hardware items, has been installed at PNB Branches:
Desktop (PC) - Dual Core 2 GHz and above/160 GB HDD and above /RAM 2GB or
above / OS WIn XP/IE 6.00 or 7.00.
Printer - HP Laser jet (stand alone)-Pro P1566 (upto 22ppm. 1200 dpi)
Scanner A4 Sized 20 ppm High Speed Color ( Canon Model DR 2010C & DR2050c)
4.5 The Scanner is provided by M/s PNB MetLife as per scheme approved by the authorities.
The arrangement of PC and Laserjet Printer is made by the Circle Office.
4.6 The policies mobilized by the branches are required to be entered in MetSmart system by
scanning of application and other documents. The Relationship Officer of PNB MetLife shall
visit the allocated Branches on regular basis for collection of business leads and entering the
proposals in Met Smart System.
To facilitate the Application Login, monitoring and service related issues of life insurance
business PNB-MetSmart link has been provided on the Home Page of CBS for which Met
Smart ID is required. A host of useful information related to Branch level, Circle level, FGM
level & HO level is available in PNB-MetSmart. Optimum use of PNB-MetSmart would not
only reduce the number of complaints related to after sale service but would also have a positive
impact on business growth and monitoring of existing business. IDs of all the officials related to
Life Insurance business be created so as to enable them to log into PNB-MetSmart for effective
monitoring and better customer service. Inactive IDs may also be got activated at the earliest. For
any help in this regard please contact PNB MetLife help line No.1800-425-8989 between 8 AM
to 8 PM or send an email at pnb@pnbmetlife.co.in. (Marketing Division Circular No. 24/2014)
4.7 Our Corporate Agency Code No. 51355636 (under IRDA Corporate Agency Licence No
MLI 8512989) must be quoted in all the Insurance proposals forms. The proposal forms should
also bear branchs rubber stamp.
4.8 PNB Branches/Circles/FGMO/HO shall be given access to view business & download MIS
from the Met Smart System, by creating User-Ids for PNB Officials at various levels.
4.9 The Branches shall submit the list of the PNB Officials to be allocated Met Smart User-ID,
to PNB MetLife through their Circle Office.
4.10 For identifying prospective customers, the Circles shall arrange meeting of the potential
customers in association with the PNB MetLife Officials.
5. Premium Collection Modes:

5.1 The customers taking policies under banks corporate agency with PNB MetLife can opt for
one of the following three modes for payment of Premium:
i)
Payment by giving Mandate alongwith the Proposal Form, for creation of Lien in
Customers Account & subsequent debit to his Account on acceptance of
Proposal by M/s PNB MetLife India Insurance Co. Ltd.
ii)
iii)
Payment of Premium through cheque/draft/debit to customers accounts through

Payprem Utility in CBS.
Payment by giving Auto Debit Authority (For Renewal Premium only).
5.2 PNB MetLife -insurance business auto debit mandate (ADM) for registration for payment of
premium through menu option METADM (Marketing Division Circular No.39/2014
With a view to make this process more convenient to use, the following
changes have been made under Menu option METADM:
o ADM mandate registration must be for a minimum period of 5
years from Start Date;
o Facility to view ADM reference number made available;
o Option to modify already registered ADMs made available.
o Refer detailed guidelines, issued by ITD, CBS Section, HO, in this
regard.
Branches should encourage the customers for opting ADM mode for premium payment, as this
would make the process of renewal premium collection easier for both, the customer as well as
the bank and also enable us in maintaining persistency level of insurance business.
6. REGULATORY/STATUTORY COMPLIANCE
6.1 Bank while undertaking life-insurance business under corporate agency arrangement is
required to comply with guidelines prescribed by Reserve Bank of India and IRDA. In terms of
guidelines contained in RBIs Master Circular on para-banking activities, the bank is required to
comply with the following provisions:
i) As the participation by a banks customer in insurance products is purely on a
voluntary basis, it should be stated in all publicity material distributed by the
bank in a prominent way.
ii) There should be no linkage either direct or indirect between the provision of
banking services offered by the bank to its customers and use of the insurance
products.
iii) The risks, if any, involved in insurance agency/referral arrangement should not
get transferred to the business of the bank.
iv) Keeping in view the need for transparency in the interest of the customers to
whom the insurance products are being marketed / referred, the banks are
advised to disclose to the customers, details of all the commissions / other
fees (in any form) received, if any, from the insurance company for marketing
their products.
6.2 In terms of regulatory guidelines, the products should be sold to the customers only after
assessing their needs and explaining features and terms & conditions of the policy to the
prospective customers and there should be no mis-selling or forced sale.
6.4 Compliance of KYC/AML Guidelines:

6.4.1 When banks sell third party products as agents, the responsibility for ensuring compliance
with KYC/AML/CFT regulations lies with the third party. In order to obviate mis-use of lifeinsurance product by unscrupulous elements, as a conduit for investment of black money, it has
become imperative to ensure compliance of KYC/AML norms while marketing Third Party
Products.
6.4.2 To mitigate reputational risk to banks and to enable a holistic view of a customers
transactions, the Reserve Bank of India has advised that the banks should ensure compliance of
KYC/AML/CFT guidelines while undertaking third party products. Hence, the branches as well
as SPs should ensure that the KYC/AML/reporting of suspicious Transactions (STRs) guidelines
issued by KYC/AML Cell, H.O. from time to time are meticulously complied with. The
branches/SPs should ensure compliance of the following aspects:
i.
ii.
iii.
iv.
v.
vi.
Usually, the premium for Fresh Life-insurance policies be paid by customers

through cheque/draft/debit to the account.
Where customer wants to pay premium for life-insurance policy in cash,
branches should accept the same below the thresh-hold limit of Rs.50000/which should be subject to compliance of KYC/AML norms. However,
insurance companies are permitted to accept premium in cash beyond
Rs.50000/- subject to obtaining of PAN/Form No.60/61, as per IRDA
guidelines.
In terms of extant guidelines, the branches are not permitted to issue Demand
Draft of Rs.50000/- and above against deposit of cash. Similarly, multiple cash
transactions, connected to each other, aggregating Rs.50000/- and above, for
issuance of Demand Drafts, are not to be accepted. Hence, the branches should
ensure that no such transactions which appear as structured cash transactions
are effected in the case of marketing/selling of life-insurance policies.
Whenever an application for purchase of demand draft(s) for taking PNB
MetLife policy is made by the PNB MetLife officials, relatives of the
prospective customers, Specified Persons, etc. in their representative capacity,
the complete particulars of the person on whose behalf the Demand Draft is
being purchased, should be obtained on the Draft application form, as per extant
banks guidelines and the name of actual purchaser (applicant of the policy)
should be captured in the CBS System, instead of capturing the name of the
representative.
In case of payment of premium through Credit Card/NEFT/RTGS modes,
compliance of KYC/AML guidelines should be strictly complied with.
Sundry/Margin Money/Non-customer inter-branch Accounts should not be used
for payment of premium to life-insurance company.
vii.
viii.
ix.
Compliance of KYC/AML norms should receive special care in case of walk-incustomers.

Any suspicious transaction observed while marketing/selling of wealth
management products, should be reported to Financial Intelligence Unit (FIU)
India, as a STR, as per system prescribed by the bank.
While selling life-insurance policies as corporate agent of PNB MetLife, the bank should
verify the identity and address of the walk-in customer. The documents required to be
obtained from the customers for compliance of KYC/AML norms as per system
prescribed by tie-up partners (PNB MetLife), should invariably be obtained by the field
staff engaged in selling life-insurance policies.
7. Publicity:
7.1 PNB MetLife will make available necessary publicity material for displaying at our
Branches, for creating awareness about their Products among our customers.
7.2 All publicity material displayed at the branches should contain the following stipulations:
Insurance is a subject matter of solicitation and the policy is issued, based on
contract between the Insured & Insurer.
Participation by customers is on voluntary basis.
The contract will be between Insured & Insurer and not between Insured and the
bank.
8 Motivational Programmes:
PNB MetLife is permitted by the IRDA to launch Motivational Training & Recognition
Programme for bank employees engaged in selling of policies & driving business under
corporate agency arrangement.
9. Renewal of Policies and Persistency Guidelines

One of the most important aspects of servicing of regular premium policy is timely collection of
renewal premium so as to maintain continuity of the policy. This aspect in insurance terminology
is referred as Persistency. IRDA, insurance regulator has come out with various guidelines on
persistency of Life Insurance Policies to be complied with by agents.
It is extremely important to collect renewal premium due to following reasons:
a. In terms of service-line agreement executed with the PNB MetLife, bank is
required to maintain minimum persistency level of 73%. In case branches are not
able to maintain the desired the persistency level, the bank/branches may not
only lose commission on the renewal premium not collected, but the PNB
MetLife may slash the commission rates for the fresh business. Hence, it should
be our target and endeavour to ensure hundred percent persistency level.
b. Renewal of policies is important from customers' perspective as policy benefits

would only be available to customer if policy is active.
c. Bank would get commission on renewal premium collected from policies which
is a source of direct revenue for branches and bank.
d. Non-renewal of policies would lead to customer complaints and concerns which
may lead to bad reputation for the Bank.
10. Process for Settlement of Claims:
10.1 In terms of Code of Conduct prescribed by the IRDA for Corporate Agents, bank is required
to extend all possible help and cooperation to the nominee of insured in completion of all
formalities and documentation in the event of a claim. Hence, it is imperative that our field
functionaries, especially the Specified Persons, are fully conversant with the claim process
designed by M/s PNB MetLife.
10.2 For reference and convenience of field staff, the claim process has been uploaded on banks
intra-net portal i.e. PNB Knowledge Centre, Knowledge Repository,.
11. Grievance Redressal Mechanism
PNB Metlife has prepared a Complaint Process Document which will take care of customers
satisfaction and mechanism for handling of complaints, if any.
12 Maintenance of Record:
12.1 The Branches shall maintain record of the business mobilized under Corporate Agency, in
Life-Insurance Register. Thereafter, the business will be got entered in the Met Smart System
in coordination with Relationship Officer-PNB MetLife and relevant Proposal Form will be
handed over to the PNB MetLife Official.
12.2 At the month end, the Branch shall prepare Summary of the business mobilized during the
month in the aforesaid Register and match the Summary with the MIS downloaded from the Met
Smart System, in order to ensure that all the business mobilized by the Branch has been
accounted for by the PNB MetLife under the Banks Corporate Agency Code. For any difference
the matter shall be taken up with the concerned PNB MetLife Branch, under copy to the Circle
Office and after resolving the matter necessary correction should be made in the Met Smart
System. The Branches/Circles can view the Commission payable to the Branch/Circle for a
particular month, through Met Smart System, installed in the Branch/Circle.
12.3 The Branch shall send Monthly Progress Report on Life-Insurance Business, to the Circle
Office, by 3rd of the succeeding month.
12.4 The Circle Office shall maintain Register or Record in Soft Form on the basis of data
received from the Branches in and reconcile the business with the MIS downloaded from the Met
Smart System, on monthly basis.
13. Payment of Commission:
13.1 The Commission payable by PNB MetLife to the bank shall be IRDA approved.
13.2 PNB MetLife shall pay Commission on the business mobilized and booked under Corporate
Agency Code during the month. The payment shall be on monthly basis or at a shorter duration
as per mutual understanding and it will be paid centrally to Marketing Division, H.O alongwith
relevant MIS.
13.3 HO Marketing Division shall credit the Commission directly to the relevant Revenue Code
(2033211) of the concerned Branch. The branches are advised to ensure that the business
mobilized by them is properly recorded and accounted for, in respect of payment of Commission.
14. MONITORING OF BUSINESS:
14.1 Joint Steering Committee: In order to ensure close monitoring of achievements and
review of marketing strategies on-an-ongoing basis at controlling office, it has been decided to
constitute Joint Steering Committee (JSC) at each circle, as under:
PNB:
1. Circle Head
2. Circle Marketing Head
3. One Branch Incumbent (by rotation)
= Chairman
= Member- Convener
= Member
PNB METLIFE:
1. Regional Head
2. Territory Manager
= Member
= Member
14.2 The meeting of the committee is to be convened on monthly basis, preferably in the first
week of the month.
14.3 Each circle should convene meeting of JSC on regular basis and there should be
comprehensive discussion on all aspects. Minutes of meeting be recorded in a systematic
manner, for follow-up and one copy of the same be sent to Marketing Division, H.O.
14.4 Branches should refer all unresolved issues pertaining to PNB MetLife business, to their
Circle Office, for deliberation in the Joint Steering Committee meeting.
15. Employee Discount Scheme on Life Insurance Policy for PNB employees & their
immediate families:
PNB MetLife has launched PNB Employee Discount Scheme on Life Insurance policy for PNB
employees and their immediate families. The scheme offers Special Discount of 5 % to all
employees of PNB Parivar, for selected products. The Details of the scheme are as under:
5 % discount on premium is offered to all permanent employees of Punjab National Bank

to insure self, spouse, children & parents. The discount will be applicable till complete
Premium Paying term of the product.
Products eligible for discount are: - Met Money Back (MMB) & Met Monthly Income
Plan (MMIP) (all variants). These are existing products and their features / benefits are
already available on PNB MetLife website www.pnbPNB MetLife.co.in and with banks
Specified Persons (SPs) as well as PNB MetLife Relationship Managers.
To avail discount, PNB employee can provide any of the below mentioned documents as
proof of employment. This is in addition to the existing requirement of documents as part of
process:
1. PNB - Employee Identity Card
2. Latest salary slip signed by Authorized Officer
3. Letter from bank, confirming the employment with Punjab National Bank,
Issuance of policy will be subject to underwriting guidelines and completion of necessary
formalities.
NON-LIFE INSURANCE
The Bank has entered Referral Arrangement Tie-up with Oriental Insurance Co.
Ltd.(OICL), a Public Sector Undertaking, which offers variety of products e.g. Fire
Insurance, Motor Vehicle Insurance, Marine Insurance & Misc. Insurance Policies at a
competitive price with assured post sale services.
Under this arrangement, the Bank will refer the non-life insurance business of its customers
to the OICL.
OICL had allotted an agency code NA0000008717 to the bank and all the policies
mobilized by bank through OICL shall invariably bear this code.
All branches of bank have also been allotted a code by OICL for booking business
The OICL will pay Referral Fee to the bank, in respect of business materialized through
the leads provided by its Branches.
w.e.f June 2012 OICL is paying commission centrally to bank on monthly basis at Head
Office along with MIS
The commission earned by various branches shall be credited to the revenue head (2033212)
of the respective branches from Head Office (Marketing Division)
The commission structure is as prescribed by IRDA
Check list for non-life insurance policies
i. The banks Corporate Agent Code NA0000008717 is written on policies in the space
provided against development officers code.
ii. In the space provided for the Agent Code, the name of the branch from which business
has originated is invariably mentioned.
iii. Name & address of the insured is complete in all respect.
iv. Locations where Stock of the party is kept should have a clear mention in the policy.
v. The commodities covered should be properly described i.e. nature of the stock & further
the risk covered should be clearly mentioned in the policy and exclusion if any
checked carefully to obviate further loss.
vi. Policy is taken for entire amount as shown in the stock statement .There should not be
under insurance at any cost.
vii. Due date diary of all the policies be maintained to ensure the renewal well in time. These
aspects are kept in mind while cover note for fresh or renewal of insurance is being
issued.
FEATURE OF NON-LIFE (GENERAL INSURANCE) :: TYPE OF COVERS:
(1) FIRE:
Standard Fire and Special Perils Policy (Material Damage)
Fire Policy 'C' covers Large Business Houses and Godowns
(2) MOTOR :
Comprehensive Ins. Policy
Third Party Insurance Policy.
(3) MARINE :
Marine Hull Policy(ship or aircraft)

Marine Insurance Policy - covering transit
Marine Insurance Policy risk of both air & sea
Marine Insurance Policy Inland Transit (Rail/Road)etc.
(4) OTHERS:
Shop-keepers Policy
Personal Accident Policy
Theft/Burglary Policy
Fidelity/Guarantee Policy
Liability Insurance Policy
Health Insurance Policy (Mediclaim)
House-Holder Policy
Overseas Travel Policy
USPs of Tie-up:
Both PNB & OICL have PAN INDIA presence.

OICL is one of the Leading Public Sector General Insurance Cos.
OICL has varieties of Products suitable to all customers segments.
OICL has launched a unique Health Insurance Product PNB-ORIENTAL ROYAL
MEDICLAIM POLICY exclusively for PNB Customers.
OICL has extended special discount of 40% on Car Insurance of PNBs Customers.
Vehicle Insurance (special discount for PNB customers)

OICL has offered special discounts on OD premium of following vehicles:
PNB financed vehicles whose premium is booked in PNB code

Vehicles owned by employees of PNB
Vehicles owned by PNB
Discount:
For private cars: IMT2002 rates less 40% discount on OD premium

For commercial vehicles
o All goods carrying and passenger carrying vehicles : IMT 2002 rates less 25%
discount on OD premium
o All other D class miscellaneous commercial vehicles : IMT 2002 rates less 30%
discount on OD premium
{IMT Indian Motor Tariff; OD Own damage portion premium}
PNB-ORIENTAL ROYAL MEDICLAIM POLICY (Exclusively for PNB Customers)

With the objective of protecting customers interest and to achieve our vision of providing entire
range of financial products and services to our customers under one roof, the Bank has launched
a Customized Group Health Product PNB-ORIENTAL ROYAL MEDICLAIM POLICY
under our Referral Arrangement Bancassurance Tie-up with Oriental Insurance Co.
Ltd.(OICL). The Product has been got designed exclusively for PNB Customers and only the A/c
Holders of PNB will be eligible to take cover under the Scheme.
The product will be available in all PNB Branches across the country. The Salient Features of the
Product are as under:
All customers (depositors as well as borrowers) of the Bank shall be eligible to take cover
under the Scheme.
It is a family floater Scheme, which covers the Entire Family i.e. Proposer, Spouse & 2
dependent children (Female dependent child until she is married & Male dependent child
upto the age of 26 years, provided he is bonafide regular student). Floater Sum Insured
shall mean a single sum insured, under the policy for all the family members named
therein. It is the maximum sum payable under the policy for any hospitalization claim
covered in respect of any one insured person or all the insured persons in the family
jointly.
Age Group covered: 3 months to 80 years. No Medical Examination is required for entry
at any stage.
Cashless facility is available at a large Net Work of Hospitals. The policy will be serviced
by TPAs (Third Party Administrators).
The Premium is much lower and quite comparable with all available health insurance
products in the market.
Uniform Premium for persons of all age-groups upto 80 years age.
The validity of the cover will be for one year and renewable as per Terms & Conditions
given in the Prospectus. The Scheme is effective w.e.f. 23-04-2010.
Cover available for Minimum Sum Insured of Rs. 1 Lac, upto Rs. 5 Lac in multiple of
Rs. 1.00 Lac. The Premium Structure (Inclusive of Service Tax) is as under:
Sum-Insured Premium
1 Lac
1749
2 Lac
3320
3 Lac
4620
4 Lac
5780
5 Lac
6830
Income Tax Exemption: The premium paid under the policy through Cheque is eligible
for Income Tax exemption under Section 80-D of the Income Tax Act.
Ambulance Charges Cost of Health Check-up, Hospital Cash etc. are also available under the
Scheme. For details please visit our nearby Branch or refer to Policy Prospectus available at
website www.orientalinsurance.org.in
No Service charges are being recovered by the Bank, from customers, for providing above
intermediary services. However, a nominal amount in the shape of Referral Fee is being received
by the Bank from the concerned Insurance Cos. as per guidelines issued by the Insurance
Regulatory & Development Authority (IRDA).
As per Marketing Division Circular No. 05/2015, Outstanding or unattended grievances not only
affect existing business relationship but also act as a dampener for mobilizing fresh business in
this line of activity. Thus, it is reiterated that any complaint received from any of the policy
holders at branches or Circle Offices be attended to properly in coordination with our Insurance
partner OICL & TPA and in case of need request to HO (if not resolved in 10days) with full
details.
The branches shall also display Toll Free Nos. of OICL and Medi Assist India TPA Pvt Ltd.,
(TPA) on their notice boards and customers be advised to use these numbers for lodging their
grievances / queries in the first instance.Toll Free Nos:- OICL- 1800 11 8485 and 011-33208485
TPA- 1800 425 9449 and 080-26584811
Effective Methodology:
On receipt of grievance at branch level the branch will coordinate with mapped officials of
OICL/TPA. In case it is not attended in 7 days the matter be referred to Circle Office under
advice to Head Office. Marketing Division can be reached on 011-26183579 and
hoins@pnb.co.in
Here, it is also informed that there is a provision of online renewal of the policy. Policy holder
may log in the portal of OICL (www://orientalinsurance.org.in) and get policy renewed. The
process is easy, user-friendly and the customer can download the renewed policy immediately
from the portal. Customers be informed about this facility to avoid delays in renewal process.
Insurance Business Some Dos and Donts for Specified Persons

(Marketing Division Circular No. 31 /2014 dated Date: 18.08.2014)
To promote insurance and protect the insured, IRDA has been coming out with various
guidelines/tips from time to time through advertisements in newspapers also, some of which are
reproduced hereunder for the benefit of our customers & staff:
A) Suggest the insurance product suitable to client after assessment based on following:
Life stage, financial position, premium payment capacity and financial
requirements;
Purpose of the policy to be purchased.
B) Verify genuineness of policy purchaser by asking for identity proof, PAN details, details of
address, contact number etc
C) Ensure following while selling any insurance policy:

The proposed clients read/understand the prospectus and proposal form carefully
before purchasing the policy;
Capture complete details of the client from the proposal form once it is signed by
client;
Ensure prompt delivery of the policy document;
D) Life Insurance Policy mainly provides risk coverage for life but it is also a tool for long term
investment involving long term commitment. So educate the Client to:
Check the mode of premium payment, term of policy, maturity benefits, lock in
period, if any, surrender value etc;
Pay the premium regularly and promptly to avoid policy lapsing;
Inform the family members about purchase of insurance policy and its benefits;
E) Educate the clients to never fall prey to:
Fictitious offers made by spurious callers promising high returns or unreasonable
gain.
Immediately inform the bank if any fictitious caller makes a call on behalf of
bank soliciting insurance business making false claims;
Calls made in the name of IRDA offering bonus or profits on investment as
IRDA does not involve itself in sale of any insurance products etc.

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Chapter 3 - Retail Deposits

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RETAIL BANKING - DEPOSIT PRODUCTS & SERVICES &

Anupam Term Deposit

1. PNB MITRA SAVINGS FUND A/C FOR FINANCIAL INCLUSION

Individual (single or jointly).

2. BASIC SAVING BANK DEPOSIT ACCOUNT (BSBDA)

3. SAVINGS DEPOSIT ACCOUNTS

4. PNB JUNIOR SAVING FUND ACCOUNT FOR MINORS

Only at branches where Mini Deposit Scheme is in operation.

6. PNB VIDYARTHI SAVING FUND ACCOUNT

The status of the account be changed to General Category after

Account opened under PNB Vidyarthi Scheme (SBVID) will

Within a period of 30 days of opening the account, the foreign

During the 30 days period, the account should be operated with a

On submission of the proof of current address, the account would

Students with Pakistani nationality will need prior approval of RBI

for opening the account.

PNB PRUDENT SWEEP SCHEME

There are 2 types of facilities available to customers under PNB

ATM cum Debit Card

Remittance by Nepali Gorkha

Personnel serving in Indian

9. PNB SHIKSHAK SCHEME: (RMD Cir. No. 82/2014 dated 03/09/2014)

All Permanent Teachers of recognised schools/colleges /educational

50000/- or the last Salary Credit whichever is lower. The overdraft is

Applicable to personal loans to employees whose salary is being disbursed

through our branches

FIELDS TO BE HANDLED PROCEDURALLY AT THE BRANCH LEVEL IN BOTH THESE

PNB TOTAL FREEDOM SALARY ACCOUNT FOR CORPORATE EMPLOYEES

Free cheque : 40 cheque leaves in a year, over and above 40 cheques

Rs.1,00,000/- or the last salary credited in the account, whichever is lower

AMC for Debit Card shall be free,

11. SAVING ACCOUNT PRODUCT FOR PREMIUM CUSTOMERS :

for 2 qtrs. in the account).

The Detailed guidelines of Family Suraksha Bachat Khata are as under:-.

Individual (Single) saving account applicant who is

Min- 25 years & Max 60 yrs (as on last Birthday)

Maximum maturity age

Coverage Term Options

10 Years & 15 Years

Premium Payment Mode

Monthly/Annually as per option of the customer

As per Table at Appendix-II (Refer Circular)

Monthly income Options

Rs. 10,000/- & Rs. 25,000/-

Pay out amount as per As per Table at Appendix-III (Refer Circular)

Minimum base sum assured

For Rs.10,000/- monthly Rs.14.20 Lacs

For Rs.25,000/- monthly Rs.35.50 Lacs

Free Look in period

For 10 Years Period

For 15 Years Period

No medical checkup (only undertaking of good health)

Inter-sol transfer transaction charges

Concession in Cash withdrawal

Free Collection of outstation Cheque

Annual Custody Charges for Demat

POS MachineInstallation Charges

Transaction Processing Charges

Weekly Free Free

Merchant Service Fee

PNB Fee Portal & Payfee

Fund Collection Module

Door Step Banking Services