Punjab National Bank's salary scheme for Kerala Govt employees

Punjab National Bank has announced a special salary savings account package for Kerala State Government employees.

Under this ‘Total Freedom Salary Account scheme,' employees can maintain a zero balance account . There will not be any type of charges under the scheme. On the day of salary the amount will be credited instantly. There is also a provision for advance salary in the form of overdraft facility, Mr K.V. Rajesh, Circle Head of the bank, said.

Employees can operate their account in any of the PNB branches without any charges. They will be provided with ATM/Debit Card, Internet Banking, SMS alerts and free RTGS/NEFT transfer facilities. The bank will issue multiple ATM/debit cards for the use of the close relatives of the account holders. Cheque books will be issued without any charge. There will be interest concession for those who avail car loan and housing loan.

Car loan

At present the bank offers car loan with the lowest interest of 11.25 per cent for loans up to 3 years and 11.75 per cent up to 7 years repayment. Under the salary account scheme, there will be further concession in interest rates for the account holders besides 50 per cent concession in processing /documentation charge.