PNB
offers facility of immediate credit of collection cheques as under:
- OUTSTATION CHEQUES
UPTO Rs. 7500/-
- LOCAL CHEQUES UPTO
Rs. 7500/-
- CHEQUES DRAWN ON
& DEPOSITED AT MAJOR CITIES UPTO Rs. 10000/-
- PAYMENT OF INTEREST
ON DELAYED COLLECTIONS
- HOWEVER, THE CUSTOMERS
WILL HAVE TO BEAR THE USUAL SERVICE CHARGES AS WELL AS THE POSTAL CHARGES.
IN THE EVENT OF CHEQUES BEING RETURNED UNPAID, THE CUSTOMER WILL HAVE
TO PAY INTEREST FOR THE PERIOD FOR WHICH FUNDS UTILISED.
Outsation
Cheques Upto Rs. 7500/-
We provide immediate
credit of outstation cheques upto Rs.7500/- to our account holders on
fulfilling the following conditions :
- The facility is
available in ACCOUNTS OF INDIVIDUALS ONLY excluding accounts of minors.
- The account should
be satisfactorily operated.
- The cheque should
have been drawn in favour of the account holder only. Third party cheques
are not covered under the scheme.
- Any cheque
purchased earlier should not have been returned for want of funds during
the last three months.
- More than
one cheque can be purchased within the limit of Rs.7500/-.
- No discounting
charges are payable. Only the collection charges are to be paid.
Local Cheques Upto
Rs. 7500/-
- Immediate
credit against local cheques upto Rs.5000/- is also given, subject to
fulfilment of conditions mentioned above for outstation cheques. A nominal
charge of Rs.5/- per cheque is payable for this facility.
Cheques
Drawn On & Deposited at Major Cities Upto Rs. 10000/-
- Credit
is provided against the outstation cheques upto Rs.10000/- within a
short period without the bank waiting for the credit advice,
as per schedule given below
- Cheques
drawn on and deposited at} The cheque will be credited to your
account latest by the Delhi, Mumbai, Calcutta & Chennai }
same day in the following week.
- Cheques drawn
on and deposited at } The cheque shall be credited to your account
within 10 days of state capitals & other centres having } the
date of deposit. more than 100 bank offices }
Paymentof
Interest on Delayed Collection
If any cheque
deposited with the bank for collection is not credited to your account
within a period of 8 days for cheques drawn on metropolitan cities,
10 days for drawn on state capitals other than North Eastern states, and
14 days on other centres, interest will be paid for the period of delay
beyond the above said limit at the following rates :
- In case
of deposit accounts : at the rate applicable for appropriate
tenure of fixed deposit for the Period of delay beyond the stipulated
days mentioned above. Further, if the delay is abnormal then penal interest
at the rate of 2% above fixed deposit rate applicable will also be paid.
- In case of loan
accounts: At the bank's minimum lending rate.
High
Value Clearing
This
facility is available for the clients of selected branches at the designated
centres. Cheques of high value (of not less than Rs 1 lac per instrument)
are cleared on the same day.
Collection
of Govt. Dues
The
Bank handles collection of various taxes on behalf of Govt. of India through
selected designated branches.