Punjab National Bank Hikes Service Charges On NEFT, RTGS, NACH And Immediate Payment Service Transactions

PNB charged Rs 2.00 at the branch and zero for online transactions on NEFT transactions up to Rs 10,000. This has now been increased to Rs 2.25 at the branch and Rs 1.75 for online transactions.

New Delhi: Public sector lender Punjab National Bank has revised the service charges for Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) transactions along with National Automated Clearing House (NACH) e-Mandate verification and use of Immediate Payment Service (IMPS). As per the notification issued on May 20, the bank is now deducting the revised service charges on RTGS, NEFT, and NACH eMandate and IMPS transactions.

Revised RTGS Charges

Earlier, for slabs of Rs 2 lakh to Rs 5 lakh, Punjab National Bank charged Rs 20.00 at branch and NIL for online RTGS transactions. Now, this has now been increased to Rs 24.50 for branch and Rs 24.00 for online transactions.

For transactions above Rs. 5 lakh, the service charge has been increased to Rs 49.50 in-branch and Rs 49 for online transactions from Rs 40.00 in-branch and NIL online.

Revised NEFT Charges

Earlier, PNB charged Rs 2.00 at the branch and zero for online transactions on NEFT transactions up to Rs 10,000. This has now been increased to Rs 2.25 at the branch and Rs 1.75 for online transactions.

For service charges on transactions over Rs.10,000 and up to Rs.1 lakh, the bank previously charged Rs 4.00 in-branch and nil online, which has now been hiked to Rs 4.75 in-branch and Rs 4.25 for online transactions.

Service charges for transactions beyond Rs.1 lakh and up to Rs.2 lakh that were Rs 14.00 in-branch and zero online earlier, have now been increased to Rs 14.75 in-branch and Rs 14.25 for online transactions.

On NEFT transactions above Rs.2 Lakh, the service charges at branches have been hiked from Rs 24.00 to Rs 24.75 in-branch and 24.25 for online transactions.

All the above charges are exclusive of applicable GST. “No charges from Savings Bank account holders for NEFT funds transfers initiated online,” PNB said on its website.

Revised NACH EMandate Charges

The charges for inward National Automated Clearing House (NACH) e-Mandate verification as of May 28, 2022 , bank will charge Rs 100 on every acceptance. This service charge is exclusive of any applicable GST for the National Automated Clearing House (NACH) mandate.

Revised IMPS Charges

The bank would not charge any fee on transactions up to Rs 1000 using the Immediate Payment Service (IMPS). However, service charges on IMPS transactions between Rs 1001 and Rs 1 lakh has been increased from Rs 5 to Rs 6 + GST, while service charges on IMPS transactions beyond Rs. 1 lakh have been increased from Rs 10 to Rs 12 + GST.