How To Close Punjab National Bank Account?

Punjab National Bank, summarized as PNB, was established in May 1894 and is the second-largest bank acquired by the Government of India. 

Punjab National Bank, under the ministry of finance, the government of India, is an industry of banking and financial services, providing its users with crucial facilities like a credit card, corporate banking, investment banking, consumer banking, insurance, loans, wealth management, etc. 

However, it might happen that, for some specific reason, you are willing to close your present bank account. Reasons like – some poor facility, unsatisfactory customer service, transaction issues, delay in services, or maybe some personal disputes between you and the bank officials. For this, the article is quite enough to clearly explain to you the bank account closure procedure. 

Steps To Close Punjab National Bank Account

You may easily go through these steps to understand how to close the savings or current account in Punjab National Bank.

Step #1: Get The Account Closure Form.

Make a direct visit to any branch of Punjab National Bank and get a hold of the bank account closure form from the bank itself. Or you may also download the account closure form directly from here. 

Step #2: Fill The PNB Account Closure 

After getting the account closure form, you will be asked to fill it very carefully. The details that the form will ask you is – account number, account holder’s name, customer ID, mobile number.

The form also asks you to state the reasons behind closing your current savings account and will ask you to mention how you are going to receive the amount already saved in your account. And, of course, signatures are expected at every place.

Step #3: Withdraw The Remaining Amount.

You will be getting the option to withdraw your cash either in a cheque or in cash, or you can transfer from your current PNB account to another PNB account, or a transaction can be made from PNB to any other bank account that you prefer. 

Step #4: PNB Account Closure Form Submission

Once you are done with fulfilling all the details that are asked in the form, you have to visit your home branch of Punjab National Bank and hand over the fulfilled account closure form to the bank official in charge. You will also be asked to surrender your current savings account’s passbook, debit card, and cheques.

Additionally, you must also provide the bank officials with your KYC documents, that is, Know Your Customer documents which basically include your ID and address proof, which you have to submit along with the debit card, passbook, and cheque.

Step #5: Account Gets Closed 

After completing the above-mentioned steps, the bank will carry the account closure procedure further, and you will be asked to withdraw the deposited amount in your account in whatever way you prefer. Don’t forget to get the receipt from the bank. 

Also Read: Difference Between Interbank and Intra Bank

Important Things Keep In Mind Before Closing Punjab National Bank 

Therein, we concluded the points that you need to keep in mind while closing the PNB account to experience a smooth and hassle-free account closing procedure. 

• You can easily withdraw your deposited amount even if it is less than the minimum bank balance, though it must be more than zero.
• If your bank balance is less than zero, that is, negative, then you will be asked to pay the bank maintenance fee.
• If your Punjab National Bank account is connected with the bank facility, then you have to close the facility before you close your bank account. So, delink the automation payments connected with your bank cards. 
• It is suggested to open a new bank account first before you close your PNB account. That is going to help you in money transactions and many other things.
• Make sure to keep a soft copy of your bank statement as it will require in the future for various things. 
• To make the PNB account closing easy and hassle-free, pay all the dues and penalties, if any, charged by the bank.  

Note: If any problem occurs in the process of closing the PNB bank account, directly contact the Punjab National Bank branch, their contact number is – 1800 180 2222. 

Also Read: How to Get Money from a Closed Bank Account?

Punjab National Bank Account Closure Form 

You can easily download the bank account closure form of Punjab National Bank from the link given below. Along with this, an image is provided here as a reference only, for you to get the idea of the account closure form :

Minimum Balance To Maintain In Punjab National Bank Account

There are different bank balances to be maintained in Punjab National Bank. Below here it is clearly mentioned for you-

• PNB in a rural area = Rs. 500/-
• PNB in any semi-urban area = Rs. 1000/-
• PNB in Urban area = Rs. 2000/-
• PNB in Metropolitan = Rs. 2000/-

Charges Required To Pay For Closing Punjab National Bank Account

The bank will not charge any amount for closing your PNB bank account if you are closing your bank account just after depositing your first amount in the bank within 14 days. However, the charges are there to be paid if the account is being closed after 14 days or after some years. The charges are as follows:

Closing SF account within one year of opening – 

• For non-individuals – Rs. 500
• For individuals – Rs. 200

Closing current account within one year of opening – 

• For non-individuals – Rs. 800
• For individuals – Rs. 500

Recommended:

Punjab National Bank Timings & Working Hours

Dormant Account: Definition, Re-Activation Process

Difference Between Current Account and Savings Account

Frequently Asked Questions