Now, get upto Rs 3 lakh even if you have zero balance in the account, here’s how

Now, get upto Rs 3 lakh even if you have zero balance in the account, here’s how

Good news for employed people. Punjab National Bank (PNB), the second-largest government bank in the country, has brought a special salary account for the employed. Its name is PNB MySalary Account.

The Zero balance account can be opened by regular employees of central/state Govt, PSU, Govt-semi Govt Corporation, MNCs, Reputed Institutions, Reputed Corporate, Reputed Educational Institutions. However, the accounts of employees on contract basis will not be eligible under these variants.


The salary account is divided into 4 categories – Silver, Gold, Premium and Platinum. These divisions are based on Variants/Drawing Gross Salary per Month/Scheme Code as follows:

Silver: Rs 10,000 & above upto Rs 25,000

Gold: Rs 25,001 & above upto Rs 75,000

Platinum: Rs 1,50,001 and above

Overdraft facility of up to 3 lakh

Primary account holder of the Punjab National Bank Salary Account may avail overdraft up to a sum representing last two months’ NET Salary at Rate of Interest of ‘RLLR + 3.70% per annum. The Overdraft limit will be sanctioned manually by taking physical application form and loan agreement and will be fixed as per eligibility.

The same will have to to be adjusted in six months and fresh Overdraft limit will be allowed only after adjustment of the previous one.

In aforesaid cases, an undertaking will be obtained from the employer that the salary account of the customer will not be changed/ transferred to other Banks during the currency of the loan. The maximum amount of OD is as follows:-

SILVER: Rs 50000

GOLD: Rs 1,50,000

PREMIUM: Rs 2,25,000

PLATINUM: Rs 3,00,000

Sweep facility

Savings Bank accounts opened/maintained under the scheme will have Sweep-In/Out facility. On authorization by primary account holder, it will automatically get initiated after ensuring an initial threshold amount of Rs 20,000/- in salary account, subject to a minimum Sweep-in/out of Rs 1,000/- and in multiples of Rs 1,000/- thereafter.

TDRs/STDRs created through Sweep facility will be issued for a period of 7 to 365 days. Account holder will get the prevailing Fixed Deposit card interest rates for single Term Deposit on the amount Swept-In/Out in the account provided it had remained under FD for a minimum period of 7 days. Frequency of sweep will be as per extant guidelines of the Bank.

Personal Accidental Insurance Cover

Additionally, account holders across all the variants will also get Personal Accidental Insurance Cover of Rs 20 lakh.

However, account holders must note that in case, salary is not credited for continuous three months in a calendar quarter, the account will be transferred to Saving Fund General and all freebies will be withdrawn by system.

For more information, visit