Punjab National Bank has started Junior Saving Fund account for the safe future of your children. The initial deposit and minimum balance for this account is zero.
Punjab National Bank is ready to secure the future of your child and taking a step in this direction, it has started Junior Saving Fund Account. Talk about the details of this account, it can be opened at any age. If the age of a minor is more than 10 years, then he can open this account in his own name also. KYC is necessary to open this account. In this, along with the photo, identity proof and address proof are also necessary.
The minimum balance for this account is zero. Talking about the features of this account, the minimum quarterly average balance is zero. The initial deposit is zero. A 50-page check book is available for free every financial year. NEFT transaction fee will be up to 10 thousand on daily basis. There will be no charge for issue of demand draft for school and college. Rupay ATM card is issued to the child on this account, from which a maximum of Rs 5000 can be withdrawn in a day.
Open a Junior Saving Fund account for your champ and get a secured future in return.
Know more: https://t.co/WFcuHsGZeY#JuniorSavingFund pic.twitter.com/psF57X3YTm
— Punjab National Bank (@pnbindia) July 10, 2021
Talking about internet banking, it works but digital transactions cannot be done. Similarly, online transactions cannot be done with mobile banking, but all the information can be taken. There is no overdraft facility with this bank account. No charge is deducted for not maintaining the minimum balance.
Nomination facility is provided
Keeping in mind that the minor should not misuse this account, he can avail all the concessions only after the completion of 18 years. At the time of opening the account, it is taken in writing from the student that this account will be converted into General Category Savings Fund Account as soon as he completes 18 years. There is no overdraft facility in this account but the facility of nomination has been given.
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