Punjab National Bank - PNB Online Account Opening Zero Balance Process
We try to save time wherever we can in our hectic daily lives. With the help of internet banking, the trips to the bank are becoming less frequent. Going online and establishing a bank account in a matter of minutes in one’s own house is a tremendous convenience, and that facility is offered by Punjab National Bank (PNB).
Furthermore, PNB account holders may enjoy numerous additional benefits when they establish an account online. Here are some of the advantages:
Given that PNB offers one of the most crucial online banking services, such as establishing the account with zero balance, it is a very safe environment. Information technology utilizes encryption devices to guarantee that all of PNB’s customer information is secure and no security breach occurs.
To secure you against online frauds and account hacking, it finally offers you with the protection you want. Thus, a PNB Online Account Opening Zero Balance Process is extremely safe and secure from hacks or fraud.
Even if you are moments away from incurring a penalty for late payment, you can count on your online banking. With an online PNB account, internet transactions may be made from the comfort of your home anytime of the day. Moreover, you may send money at any moment, totally hassle-free.
3. There are no hidden fees.
There are no hidden costs connected with after a opening PNB account online. What you pay is only a convenience fee, and everything else is handled by your bank.
4. 100% Satisfaction Guaranteed
Another of the advantages of internet banking is that it’s simple to use. The need to wait in lengthy lines at the bank is totally removed. With mobile banking enabled once a PNB zero balance account opening online is done by you, transferring money, and making payments are simpler.
You may finish transactions when you are delayed in traffic or at work. Avoiding humiliation is a lot simpler now that it’s much easy to find out whether or not your account has enough money to buy everything on your shopping list before making cashless transactions.
5. You can keep a close eye on your Account
The last thing to know about online process is that budgeting and maintaining your account becomes much easier when you have access to e-banking and a decent budgeting tool. Tracking your real-time expenditures when you make a purchase or while calculating your monthly savings and expenses is possible.
6. Video KYC
The most important advantage of PNB zero balance account opening online process is that it now offers video KYC. After the lockdowns and various restrictions brought about by the pandemic PNB account opening via online mode has almost become a dire necessity.
In these circumstances, considering their customers’ needs PNB has now introduced video KYC for pnb online account opening. Video KYC has been enabled with the help of GIEOM Digital Validator.
The PNB bank is the first public sector financial institution in India to offer a video authentication service to aid clients with all of their banking services without needing to visit a branch or ask a bank staff for assistance.
PNB online account open process is designed to help the bank increase its distribution reach and reduce its acquisition costs for customers.
On April 12, 2021, on the occasion of their 127th Foundation Day, Mr. Debasish Panda, IAS, Finance Secretary of India and Mr. S. S. Mallikarjuna Rao, MD, PNB formally unveiled the solution and said that rather than building their own technology, banks may work with fintech and startups for digital transformation while remaining focused on their broader mission of credit development and financial inclusion for the country.
About PNB Online Account Opening Process Scheme
PNB online account opening with zero balance can be done on the savings account named as PNB Basic Saving Bank Deposit Account. The account is part of the financial inclusion program of the Government of India called as Pradhan Mantri Jan Dhan Yojana. .
This scheme's goal is to offer formal banking services to economically disadvantaged people. Some banks provide clients with a zero-balance account or a basic savings account. .
The online bank account opening with zero balance in PNB is one such offer that is done to help the unbanked to open bank accounts and receive the various benefits of banking services.
In PNB, different types of savings accounts exist. One such kind of a savings’ account is the Basic Saving Bank Deposit Account or Zero Balance Account. Because of its name, it is an open and simple savings account that is straightforward to establish and maintain. .
These accounts which are usually done via the online bank account opening with zero balance in PNB are established with the goal of promoting financial inclusion for people and reducing the barriers to opening a bank account.
Criteria for Opening a Zero-Balance Account in PNB
Every bank has its own set of criteria and restrictions, which benefit consumers, but customers must first confirm the fact that they can actually do PNB account opening by checking that they meet each and every requirement PNB has requested.
Becoming a PNB member means you must do so just after applying for an online account and verifying yourself and doing a PNB online account open by yourself. In order to join the bank, you must meet the following requirements:
The account holder must be a citizen of India if they wish to establish an account with Punjab National Bank. He or she should thus be an Indian citizen and have a certificate of citizenship.
The account holder must be at least 18 years of age to create an account in PNB. The person in question must have done something noteworthy in order to be eligible.
The individual if he or she happens to be under the age of 18, in such cases in order to open and hold the bank account if he or she is a minor (in other words, has yet to become an adult), a parent of a legal guardian will have to be assigned as the holder of the bank, and they will hold all the rights and manage the account on the boy or girl’s behalf.
To state the obvious, we have previously addressed the fact that the applicant must be an Indian citizen, which implies his claims should be substantiated and proved with legitimate papers. Documents issued by the government must be authorized, or they must have been created by the government itself.
Some of the documents that are required for the account opening include: Mandatory document: PAN card or Form No. 60; Proof of Identity & Address: Voter ID Card or Passport or Driving License or NREGA Job Card & Others or Letter issued by National Population Register containing details of name, address..
Finally, once everything is considered, and all the paperwork has been sent to the bank, the bank will examine the papers to see whether they are accurate. If they deem it worthy, they may either refuse it or accept it and accordingly you can be successful with your PNB account opening.
One advantage of establishing a zero-balance saving account with PNB is that the bank does not demand an initial deposit. Creating an account regardless of the amount put in will follow the same procedure.
In order to set up an account in the PNB bank, the user must fulfil all of the stated requirements. It will be simpler to open the account after they’ve met all of them.
The Step-By-Step Procedure for PNB Zero-Balance Account Opening Online
Even for those who like to establish an account in the local branch, there are others who prefer to do it in their own house through the PNB online account open. To be quite honest, the procedure of creating an internet account is extremely simple and fast as well.
It will help you save time. Mentioned below are some of the essential steps that you need to take to open your zero-balance account from the comfort of your home.
When you access the PNB site , you must start from the beginning.
- Now click on the “savings accounts” tab, and then fill all the details that it asks you to.
- From this point on, you will see a variety of selections from which you must press “new request”.
- A form for establishing a number of saving accounts will be provided to you.
Now, provide your personal information, including your name, date of birth, and cellphone number, then finish filling out the application form.
- Click on the submit button now.
- You will get a TCRN (Temporary Customer Reference Number) when you submit the proposal.
- In order to provide you with more convenience, your assigned number will be mailed or delivered through the text to your registered mobile number and email ID.
- The TCRN code must be entered where it is needed now.
- Additionally, you will also have to submit all of the required KYC papers with the form to enable verification.
- It will be shown to be correct.
- If the bank determines that your form represents what you said, and the bank has seen that it accomplishes those goals, your PNB online account will be activated within 3-5 working days.
Document Proof for PNB Zero-Balance Account Opening Online
In order to ensure that you do not face any hassles while you open your account, please ensure that you have these documents with you at the time of opening the account. The article has previously explained that in order to establish an account in a bank, certain identity papers are required.
To verify their identity, their residence, their date of birth, and other facts, the document must be with you at the time of opening and has to be submitted on the online portal of the PNB website. When creating an account, you will need the following:
- Proof of identity: The proof of identity could be a passport, driver’s license, voter ID card, or another type of document.
- Proof of address – The proof of address may be a passport, driver’s license, voter ID card, or any other government issued identification.
- Additionally, you must have your PAN card with you at the time of opening.
- Also, Form 16 can be used if the PAN card is not accessible.
- Two passport-size photos, one shot on a white backdrop in the last several days is also necessary for opening of the account.
When it comes to creating an online account, there are a number of variables that affect people’s decisions. But with the online option they will no longer need to leave their home in order to find the nearest bank branch to them.
You may just go to the PNB’s official website and fill out the registration form to get started with creating an account. It assists you in saving time. You are not obliged to wait in line for the start of your period of employment. It is also straightforward and risk-free.
Both the online and the offline method is a carbon copy of the others. As long as the application procedure remains the same whether you submit your application online or in person, you won’t have to worry about missing out on anything.
The two alternatives for establishing an account with one of the Punjab National Bank’s branches are the online approach that we have provided in this post and has been discussed in detail. However, till this day the offline approach, is preferred by many people.
The second type which is the zero-balance account creation online alternative, which has been embraced by many technologically savvy people. Therefore, you now understand what documents you will be needed to submit as proof of your citizenship, along with any additional information that may be requested of you while you embark on your journey of creating a PNB zero-balance account online.
Is there anything more you want to do? What are you waiting for? You have every piece of information under lock and key from this article that you would need for setting up your account. If you wish, you can sign up for a free account right now.
Opening a PNB account online is a simple process when you follow the instructions provided in this article. Our goal is to make the process of creating an account as easy as possible for you, so we have included instructions on how to do so online. I really hope it has been of help to you.