Tips on Applying a Punjab National Bank Savings Account
Why do we need a savings account? A savings account is the means of a country to advocate saving money among its citizens. To have a secure place for money being saved, the government created banks. The money in checking account at the bank is guaranteed by the government up to a particular amount in case of insolvency of the bank.
In India,PNB bank is a state-owned bank which is the second biggest commercial bank in India. It has 5000 branches in 764 cities across the country. The headquarters of PNB is located in New Delhi, India.
PNB India was ranked by Bankers Almanac of London as the 248th largest bank in the world with 37 million clients. It has a total assets for financial year 2007 were approximated to be US$60 billion.
PNB has a subsidiary bank in the UK, and branches in Dubai, Hong Kong and Kabul, and offices in Oslo, Almaty, Shanghai and Dubai. PNB is one of the Big Four Banks of India, along with SBI bank, ICICI Bank and Canara Bank.
Prior to applying a savings account at PNB bank, you can consider some of the tips listed below. 1.) Which type of bank account you would like to have 2.) Estimate the interest annually 3.) Know the maintaining balance to avoid fees 4.) Research for the minimum initial deposit of the savings account you want like to apply
When you want to open for a new savings account at PNB India, you must need the following requirements. 1.) Two passport size photos 2.) proof of your address registered in your passport, telephone bill, electricity bill or driving license 3.) A letter of support from an current account holder 4.) PAN number or declaration in form no. 60 or 61 as per Income Tax Act of 1963
Opening a new bank account in PNB is easy and quick if you have complete requirements and you know the procedures. It would be advisable to select first which kind of account and the branch you want to open for.
Gily Tenorio is a finance blogger who likes blogging on saving, investment and make money online. For more helpful information on how to open a bank account at PNB bank, you can visit Financial Management blog for more articles on financial planning, saving, investing and make money online.
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