Alert! PNB To Close These Savings Accounts From July 1, Check If Yours Is Included

Punjab National Bank (PNB) has declared a crucial change that impacts savings account holders. The bank will close savings accounts that haven't been utilized in a tenure of three years and have no balance, the government-owned bank announced in a post on X. The move will impact a large number of savings accounts that are not being used to do any sort of transactions and there is no fund in it.

First, check the status of your PNB savings account

If you have a savings account with PNB Bank, first check its status. The central bank has explained that if there were no transactions in the accounts for 3 years would be closed.  The bank said that an alert had been sent to these customers. If you need to keep these accounts functional, visit your bank branch and complete your KYC process immediately.

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Complete KYC to reactivate

As per the notification, if the account becomes inactive and the customer needs to reactivate the account, these customers will need to go to the branch and fill out the KYC form. After that, their account will be reactivated. Customers need to provide additional documents to complete the KYC.

These PNB accounts won't be shut

In a post shared on X, the bank said PNB will not close accounts opened for plans like Sukanya Samriddhi Yojana (SSY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana ( APY). It won't likewise close the savings accounts of minors.

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