what is ifsc code of Punjab national bank?
A bank’s IFSC (Indian Financial System Code) is an alphanumeric code that uniquely identifies a particular branch of the bank. This code is used for electronic fund transfers between banks, such as NEFT and RTGS. It is also used to track payments made by means of cheques. Punjab National Bank (PNB) is one of the largest public sector banks in India, with numerous branches across the country. In this article, we will discuss what an IFSC code is and what the IFSC code of Punjab National Bank is. We will also look at how you can use the PNB IFSC code to transfer money online or withdraw cash from your account. Read on to learn more!
What is an IFSC code?
An IFSC code is an 11-digit code that identifies a bank branch for the purposes of transferring money. The code is used by banks in India to process interbank transfers. Punjab National Bank is a state-owned bank with branches all over India. In order to find the IFSC code for a particular branch, you can use the bank’s online branch locator tool.
What is the Punjab National Bank?
Punjab National Bank is an Indian multinational banking and financial services company headquartered in New Delhi, India. It is a public sector bank owned by the Government of India. As of March 31, 2018, the bank has over 80 million customers and about 11,000 branches across 764 districts in India. The bank has a strong presence in 19 countries with over 5,000 branches.
Punjab National Bank offers a wide range of banking products and services to its retail and corporate customers. These include savings and current accounts, fixed deposits, credit cards, personal loans, home loans, car loans, and investment products. The bank also provides a range of digital banking services such as online banking, mobile banking, and UPI (Unified Payments Interface).
The history of the Punjab National Bank
The Punjab National Bank (PNB) was founded in 1894 by a group of Indian businessmen in Lahore, Punjab. The bank initially operated as a joint-stock company with an initial paid-up capital of Rs. 2 million. The PNB was the first Indian bank to be nationalized in 1969 by the Government of India.
The PNB has a long and illustrious history. It was founded in 1894 by a group of Indian businessmen in Lahore, Punjab. The bank initially operated as a joint-stock company with an initial paid-up capital of Rs. 2 million. The PNB was the first Indian bank to be nationalized in 1969 by the Government of India.
Over the years, the PNB has grown to become one of the largest banks in India with over 5,000 branches and 10,000 ATMs across the country. The bank has also expanded its operations globally with branches in Hong Kong, Dubai, and Sydney.
The different types of accounts offered by the Punjab National Bank
The Punjab National Bank (PNB) offers a wide range of account types to suit the needs of its customers. The different types of accounts offered by PNB are:
- Savings Accounts: A PNB savings account is a basic bank account that allows customers to save money and earn interest on their deposits. Customers can open a savings account with a minimum deposit of Rs.500.
- Current Accounts: A current account is a type of bank account that is designed for businesses and individuals who have a high volume of transactions. PNB’s current accounts offer customers a number of benefits such as higher withdrawal limits, free chequebooks, and online banking facilities.
- Fixed Deposit Accounts: A fixed deposit account is an investment account where customers can earn interest on their deposits for a fixed period of time. PNB offers fixed deposit accounts for periods ranging from 7 days to 10 years.
- Recurring Deposit Accounts: A recurring deposit account is similar to a fixed deposit account, but the customer can make deposits at regular intervals (monthly, quarterly, etc.) instead of making a lump sum investment. Interest is earned on the deposited amount and the customer can withdraw the money at the end of the term or choose to reinvest it.
- NRI Accounts: NRI accounts are special bank accounts that are designed for non-resident Indians who wish to send money back home or invest in India. PNB offers various NRI accounts such as
How to find the IFSC code for the Punjab National Bank
There are a few ways that you can find the IFSC code for Punjab National Bank. The first way is to look it up on the bank’s website. You can usually find the IFSC code under the ‘Contact Us’ or ‘About Us sections.
Another way to find the Punjab National Bank IFSC code is by searching for it on an online banking directory such as RBI’s official website. Here, you’ll need to input the name of the bank and the state in which it’s located. Once you’ve found the correct listing, the IFSC code will be displayed.
Lastly, you can also find the Punjab National Bank IFSC code by calling up the bank’s customer care number and asking for it.
Understanding the concept of IFSC code helps in making payments and transactions much smoother. We hope that this article has helped you understand how to identify and use the Punjab National Bank’s IFSC codes to make your banking transactions convenient. If you have more queries or need more information, please feel free to reach out to us through our website or give us a call directly so we can provide further assistance.