Product Details
Bank Name
Punjab National Bank
Account Name
PNB Rakshak Plus Scheme
Account Type
Saving account
Interest Rate
Upto 1 lakh -2.70%p.a and Above 1 lakh but less than 100cr - 2.75%p.a
Free Debit Card
Yes
Account Opening Fees
0
Debit Card Charges
Nil
Annual Maintenance Fees
0
NEFT Charges
Free
Minimum Account Balance
Sweep Facility: Initial threshold amount – Rs. 10000, Minimum Sweep In/Out – Rs. 1000.
IMPS Charges
Free
Fees and Charges of
PNB Rakshak Plus Scheme
PNB Rakshak Plus Scheme
Special Features
Specially designed for all three wings of defence, police, special forces, etc.
No minimum balance requirements.
Concession in rate of interest and service charges under housing, car, education and personal loan schemes.
Eligibility Criteria
Defence Personnel are eligible to open salary account under the scheme i.e. all three wings of Defence.
PNB Rakshak Plus Scheme also includes BSF, CRPF, CISF, ITBP, State Police Force, 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), Indian Coast Guard Personnel, Para-Military personnel, Gentlemen cadets and Special Forces at Central & State level.
PNB Rakshak Plus Scheme will also cover salaried of Assam Rifles, Special Forces, SSB, RPF, NSG, Special Protection Group, NDRF, Firefighter, personnel including trainees
Benefits of PNB Rakshak Plus scheme are also extended to all the pensioners (Defence/ eligible as above) who choose to draw their pensions through PNB Branches and pension is directly credited through CPPC or any other statutory or government pension disbursing body e.g. SPARSH, state treasury etc.
Benefits
Features, Eligibility and Benefits of
PNB Rakshak Plus Scheme
Pros & Cons of
Pros
No ‘Cash Handling Charges’ would be levied for transaction implying thereby that all branches of PNB, PAN-India, would be considered as ‘Home’ branch.
Overdraft upto last 3 months Net Salary/ Pension amounting from Rs.75000/- to Rs.3,00,000/- lakh.
Concession in rate of interest and service charges under Housing, Car, Education and Personal Loan Schemes.
Education loan under “PNB Pratibha” is available for wards of a Primary Account holder who take admission in premier Institutes and the Army Educational institutions.
Zero balance saving account to family members.
Concession in locker rent - 25% Annual Maintenance Charges(AMC) waived off for three years from date of issue
Unlimited free DDs / POs with a ceiling of Rs 50,000/- per free DD/ PO.
Gorkha personnel can remit amount from his PNB a/c in India to their linked account in Everest Bank Limited (EBL) at Nepal and vice-versa, free of charge.
Free SMS Alerts for transactions in the account and on the connected Debit / Credit card.
Cons
Low interest rates.
PNB Rakshak Plus Scheme
PNB Rakshak Plus Scheme Review
The account offers extremely low interest rate. The account is tailored for defense and police personnel. It comes loaded with value add benefits. Account can be considered by individuals who want to avails its value add benefits.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Review of
PNB Rakshak Plus Scheme
Account Opening and Procedure of
How to open an Account?
Visit a PNB Branch: Locate the nearest PNB branch to you.
Required Documents:
Proof of Identity: Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License.Proof of Address: Aadhaar Card, Passport, Voter ID, Driving License, or utility bills.
Photographs: Two recent passport-sized photographs.Account Opening Form: Obtain an account opening form from the bank representative. Fill in the form accurately and completely with all the required details.
Submit Documents and Open Account: Submit the completed form and all the required documents to the bank representative. The bank representative will guide you through the account opening process.