Online Deposit Schemes
Presently we are not accepting Deposits under these schemes
PNBIL NET Save Account

- Any number of transactions
- Interest payable monthly on daily average balance of over £1000
- Credit into/withdrawals only through linked A/C
- Account currency GBP only
- Account management only by NETBanking service. No counter /cash services
- No fixed period. It is a running A/C
- No Cheque Book or Debit Card
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PNBIL NET Fixed Account

- Term Deposit
- Minimum Amount £1000 and maximum amount £10 Million
- Duration of Deposit 6/12/18/24/36/48/60 months
- Account currency GBP only
- Interest payable only if Deposit runs complete period
- Account management only by NETBanking service. No counter /cash services
- Interest compounded on Yearly basis
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Steps involved in Account Opening

- You register online
- On successful registration, get unique Reference Number
- If electronic verification is not successful, you may be required to submit physical document for verification
- On successful verification, you are requested to submit a cheque signed by you of any amount between £1 and £100. In case of Joint Account, we need cheques signed by each account holder separately and these cheques should be in the name of A/C holders (Joint Holders)
- On Realisation of Cheque(s), you get the PNBIL NET Save Account Number and PNBIL NETbanking User-Id
- Your PNBIL NETbanking password will be sent by post at your address
- There are No Charges on Inward Funds into your accounts with us, Normal outward BACS transfer from your Accounts and transactions between your NET Save and NET Fixed Accounts.
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Tax Liability

We, as a UK bank, are liable to deduct a Basic Rate Tax on all interest paid by us to our clients' accounts. The present rate of the deduction is 20%. After the close of financial year, a Tax Deduction Certificate would be issued to you for completion of your tax related returns. However you may get exemption from above deduction by submitting Form R85 to us.
Download Form R85


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