PNB To Close These Savings Accounts: June 30th Deadline For Customers, Know The Reason

Punjab National Bank ( PNB ), a government-owned financial institution, has recently announced a crucial update for its savings account holders . The bank will be closing savings accounts that have been inactive for the past three years with no transactions or balance. This step aims to enhance account security and prevent potential misuse.

The bank has set a deadline of June 30 for account holders to deposit funds and reactivate these dormant accounts . Notifications regarding this decision were disseminated through PNB’s official website and social media channels.

In an announcement shared on PNB’s official account on X, the bank stated, “We have observed that many accounts have seen no activity from the customer over the last three years and have no balance. To safeguard against misuse, we have decided to close these accounts, mitigating inherent risks.” The notice also included the initial closure date of June 1, which has now been extended by a month to provide more time for account holders.

Certain types of accounts will not be affected by this policy. Exemptions include DEMAT accounts, lockers, accounts with active standing instructions, student accounts for customers under 25, minor accounts, accounts opened under specific PNB schemes, and accounts frozen by court orders, income tax orders, or other statutory authorities.

After the deadline, any closed accounts can only be reactivated by visiting the respective branch and completing a Know Your Customer (KYC) form along with submitting the necessary documentation.

For further information, PNB account holders are encouraged to visit the bank’s official website or contact their local branch.