Easy Saving Deposit Scheme
New Interest Rates Effective From 16 March 2009
0.75% AER / 0.75% Gross for all Accounts
Interest payable monthly
Interest payable only if Minimum Interest during a month is £1 or more
No minimum balance required
No resitrictions on deposits and withdrawls
Free Money Transfer to accounts with PNB in India
No Debit Card or Cheque Book to be issued.
Recommended if purpose is only for Money Transfer or use as an Operative Account for opening Fixed Rate Deposit Account(s).
NETbanking is not available if only purpose is Opening of Fixed Rate Deposit Account.
Basic Rate Tax (BRT): We are obliged to deduct a Basic Rate Tax at the prevailing rate, presently 20%, on the interest paid by us in accounts maintained by the individual customers. Individual accountholder(s) not liable to pay tax depending upon their income level may provide us specified HMRC Form (R85 for residents and ordinarily resident persons and R105 for Not Ordinarily resident persons) so that the Gross Interest may be paid without deducting the Basic Rate tax.
Nominal charges for deposits, withdrawal, BACS/ CHAPS Credit, Direct Debits.

Steps for Opening an Account with us.

In case you come to the branch to open your account
Please bring with you the following documents
- Original current signed passport or photo-card full UK driving licence to provide proof of ID
- Recent (not older than 3 months) original Bank statement or utility invoice (telephone, gas, electricity, water, council rates) with full name and address to provide proof of address
- Separate documents as noted above required for each applicant
- Account Opening Form

In case you send the documents by post to open your account
Please send the following documents
- Copy of the current signed passport or photo-card full UK driving licence to provide proof of ID (please do not send the original documents)
- Copy of recent (not older than 3 months) Bank statement or utility invoice (telephone, gas, electricity, water, council rates) with full name and address to provide proof of address
- A cheque of minimum amount of £1 from your existing UK bank account
- Separate documents as noted above required for each applicant
- Account Opening Form

• You may also give us a cheque in your favour to create an opening balance in your account
• The account will be opened as soon as all the formalities are completed and a welcome letter will be mailed to your mailing address providing all the necessary information to operate the account along with our schedule of terms and conditions.

Submit by post or in person the required items to any of our offices at
Branches : London :GuildHall House, 87 Gresham Street,London EC2V 7NQ.
: Southall :90 South Road, Southall,Middlesex UB1 1RD, UK.
: Leicester :160 Belgrave Road, Leicester, LE4 5AU, UK.
: Birmingham :290 Soho Road, Birmingham, B21 9LZ, UK.
: Ilford : 47 Cranbrook Road, Ilford IG1, UK.


PNBIL is a UK incorporated banking subsidiary of Punjab National Bank, India (PNB). PNBIL is Authorized and Regulated by the Financial Services Authority. PNBIL is a member of the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS). PNBIL is authorised for accepting deposits by the Financial Services Authority (FSA).
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