PNB - Punjab National Bank India

The Punjab National Bank (PNB) is one of the leading commercial and banking organizations operating in India. It has been considered as the second biggest government-owned and coordinated commercial bank in India, and is known for offering many dedicated financial services and solutions across a huge number of sectors. As a matter of fact, almost everyone in India knows well about Punjab National Bank. Let us take you deeper.

It has been reported that nearly 37 million consumers are assisted by PNB on daily basis. The tailored banking-related services and facilities that it provides to its customers has helped it in becoming one of the most trusted names in the entire vertical of banking in India.

Services offered by Punjab National Bank

PNB provides financial services and solutions in a wide array of banking sectors. The most important aspect is that all the different services that are provided by this bank constantly maintain pace with the varying global market trends so as to fulfill the requirements and expectations of its consumers.

Some of the renowned divisions on which the major functionalities of the PNB are based are:

• Corporate Banking

• Personal Banking

• Industrial finance services

• Agriculture finance services

• International banking services

• Trade financial services

It also maintains commercial affiliation with more than nearly 200 prestigious, global banks around the globe. The bank offers provision of Rupee drawing procedures with almost fifteen exchange companies based in the UAE, and another in Singapore.

When talking about personal banking services, PNB provides many tailored solutions to entertain all types of financial requests of the consumers. Some of the popular services that are provided by this bank include:

• Savings Fund Account

• Current account

• Fixed Deposit scheme

• Loan services

PNB is one of the most popular bank names when it comes to home loan benefits, and it is known for offering both short and long term loan facilities. Its interest rates are very competitive to what SBI and LIC offer, facilitating all consumers to pay within a specific time. The housing loans are provided for many different purposes, including:

• Building of a new home

• Buying a new ready-to-occupy flat or house

• Buying a new house on the basis of first power of attorney scheme

• Renovation of an old house

Usually, PNB housing loans approve nearly 80 percent of the total project cost, and the maximum loan amount limit is Rs. 50 Lakhs, while the maximum housing loan limit for renovation purpose is just around Rs. 5 Lakhs.

Xoom is another service that runs with the support of Punjab National Bank, and allows Indian residents to receive money from foreign nations in the form of Rupees. The exchange rates of Xoom are much better than what HDFC, Axis Bank, and most of the other banks offer. However, you don’t have to open an account with PNB to make use of Xoom services.

A Brief Note on the Growth of PNB

PNB was first registered under the Indian Government Companies Act on May 19th, in the year 1984. The bank’s very first office was established at Anarkali Bazaar, in Lahore. Ever since its inception, PNB has developed into a great name in the realm of banking in India. The bank is hugely favored by its customers for the broad range of banking services that it offers. At present, the bank has nearly 4,904 branches that are widely spread across 764 different cities in the country.

PNB has been always been the receiver of a large number of esteemed awards because of its high standards of banking services and facilities. According to the latest study conducted by the Bakers Almanac in London, PNB has been declared the 248th largest bank in the whole world. That’s a pretty great accolade!

Economic Times has also scheduled the bank as 38th among the 500 premier companies of the world, and also the 9th among the highly trusted trademarks in India. The entire asset value of PNB amounts to a massive US $60 Billiion. It also has a subsidiary branch in the U.K. Additionally the bank has branches in other major international cities including Hong Kong, Kabul, Oslo, Dubai, Shanghai and Almaty.