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Online bank account opening with zero balance in PNB

Over the years, the banking system in India has retooled itself and evolved significantly to become a more robust and vibrant structure. There have been several major changes in the banking system and one such dynamic feature that has dug its heel into the lives of bank customers is the facility of opening online zero balance bank account.  

Though different banks are devising new strategies to satiate the huge range of users, online bank account opening with zero balance in PNB too is working tirelessly to keep its existing line of customers and lure new ones simultaneously. 

The idea behind this facility of opening an internet-enabled zero balance account is to facilitate more people – including those in remote areas – with better access to banking facilities and enjoying many advantages. 

Let us take a look at some of the provisions that PNB online account customers enjoy. 

No minimum balance required: No minimum balance required: Many banks require their customers to maintain a minimum amount in their respective accounts. But online bank account opening with zero balance in PNB users don’t have to worry about getting penalised for non-maintenance of minimum balance as it is a zero balance account. There’s no restriction for maintaining minimum average balance in the bank accounts and thus, the accountholders are given a free-hand to access their funds without any penalty concerns.

Banking facilities: Banking facilities: People take a good look at the assistance provided by banks before opening an account as it is going to be a long-term association between the two. This is equally true for online PNB account holders who get to enjoy all facilities that regular savings account holders have the privilege of. The users can make utility bill payments by using the mobile banking services, make electronic transactions at the ATMs, and more.

Transactional limit: Generally, online users enjoy working with banks that give them a free hand while making transactions. The National Electronic Funds Transfer (NEFT) users of PNB’s zero balance online bank account get to make transactions up to Rs 500 lacs, while those using the Real Time Gross Settlement System (RTGS) are required to make a minimum transaction of Rs 2 lacs.

Freebies: Freebies have always existed and they have always been a major attraction with people of all age groups. Even the banks have learned how to make the most of it and PNB is no exception. PNB issues a free chequebook to its customers in the first year. The customers are also are given free ATM-cum-debit cards.

The bottom line

The shifting of banking from physical to digital form is a reflection of rapidly evolving technological developments. As far as the 

internet-based account holders 

are concerned, the PNB is tirelessly working to make sure they get a lot more from the cashless mode of transaction.    

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How saving bank interest could help you sail through the air?

Financial independence is what we all dream about and this could be only possible if we make timely decisions. As financial health is a matter of serious attention, it is advised to have at least one basic savings account to keep an eye on your spending habits. Undeniably, savings account is the right place to park your hard-earned money, while earning some interest on the deposits. Here, many would argue that there are several other investment instruments that give high return over a period of time.

However, the fact is only half baked as such instruments don’t guarantee the returns as the investments are subject to market risk. Besides this, the investors have no access to the invested amount as the funds are locked for certain period of time. These restrictions are not available with the savings account, which makes it a highly preferred tool for financial management. While the account keeps the funds safe and secured, it also gives a chance to earn saving bank interest on the deposits. In addition, the saving account deposits are not subject to market risk, i.e. no matter how the market fluctuates, it won’t put your account at risk.

So, without wasting much of time and energy, let’s move forward to check out the benefits of earning interest on savings account.

Emergency corpus – This year has taught us that how important it is to have a good emergency corpus to sail through any such crisis. Saving bank interest rates allows you to earn some extra money on the deposit balance, and these additional funds can be parked to cope with any unexpected financial crisis in future. The high liquidity of savings account allows you to withdraw the funds whenever required, so as to keep you free from debt traps.

Asset protection – They say ‘Capital is the biggest asset one can ever have’, which stands completely true. This is the reason why savings account comes as a first choice for uninterrupted financial dealings. Even though the market is flooded with investment instruments like shares, bonds, and mutual funds, which promises high returns upon maturity, they also involve high risk of market volatility. Therefore, savings account is probably the best place you can park your hard-earned funds within. Notably, bank accounts are not subject to market fluctuations, thus, keeping the asset safe and protected from any uncertain times.

Easy bill payments – While you earn high saving bank interest, it would be easier for you to make timely payments of due bills without even shelling out funds from the deposits. Savings account gives you the required freedom to access your own funds anytime with zero restrictions. Therefore, you can make the bill payments on the go using online saving account.

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