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PNB SF Prudent Sweep for the accounts of institutions

Eligibility

ELIGIBLE institutions permitted for opening Saving Fund Accounts

Features

Initial Deposit: Rs. 500/- (For Govt. Accounts, it is NIL).

Minimum Quarterly Average Balance: Rs. 5000/- for Rural/Semi-Urban & Rs.10000/- for Urban/Metro areas. (For Govt. Accounts, it would be NIL).Incidental Charges: Rs.150/- per quarter for not maintaining stipulated QAB for Rural/Semi-Urban areas and Rs.300/- for Urban/Metro areas.

SWEEP IN AND OUT:

Sweep in/out shall take place after the cut off balance of Rs.10.00 lacs and in multiples of Rs.1.00 lac. Sweep out will be on daily basis.

Tenor:

7 days to one year at the option of the customer

The funds will be swept in i.e. cancellation of Fixed Deposit, in case of need on Last In First Out Basis (LIFO).

Various Free Facilities:

Upto 2 remittances with the maximum amount of Rs.25,000/- (For both remittances) in a month 100 cheque leaves in a F.Y.
Internet banking services (IBS),
Free Collection of Outstation Cheques- Upto the maximum amount of Rs.25,000/- in a month.

For other details, please visit any of our branch.

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