This is for the information of all saving A/C holders:
Frequently Asked Questions.
- With effect from 1st Oct 2013, interest on savings accounts will be credited to account holders on half yearly basis.
- From 1st Oct 2013, interest will be paid to saving fund account holders in the month of Mar & Sep, i.e. interest from Sep 2013 to Feb 2014 will be credited in the month of Mar 2014.
PNBIL will be discontinuing sending all monthly savings account statements
through post. Customers will receive saving account statement once in a quarter.
i.e. every Jan, Apr, July & Oct.
In case any account holder wants the statement, customers can use our IBS
services and print statement without visiting branches.
New Interest Rates Effective From 16 March 2012
- 0.75% AER / 0.75% gross for all accounts.
- Half yearly interest payable (applicable only if minimum interest during a month is £1 or more).
- No minimum balance required.
- No restrictions on deposits and withdrawals.
- Free money transfer to accounts with PNB in India
- Recommended for purpose of money transfer or as a linked operative account for opening fixed deposit accounts.
- NET banking facility
- Debit Card or cheque book facilities not available.
- We are obliged to deduct a Basic Rate Tax (BRT) at the prevailing rate, presently 20%, from the interest earned.
- Accountholders may provide H M Revenue & Customs form R85 if they believe that their income is not taxable so that no tax deducted from interest earned.
- Accountholders who are not ordinarily resident may provide H M Revenue & Customs form R105 so that no tax deducted from interest earned.
- Click here for Schedule of Charges and refer Schedule of Terms and Conditions for details.