GSL / Offshore and International Law. Offshore companies registration. / Offshore Banking / Punjab National Bank (PNB)

How to open a bank account in Punjab National Bank (PNB)

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

July, 2023

Last contact

April, 2024

Last update

October, 2023
  • Punjab National Bank – started operations in 1984;
  • opens accounts only for local companies, does not work with non-residents;
  • opening an account requires a visit to the bank by the director of the company;
  • cards can be issued;
  • Internet bank in English;
  • account opening period, please check with a consultant
GSL rating
Beginning of cooperation
July, 2023
Last contact
April, 2024
Last update
October, 2023
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General information and rating

Not rated
Global rating
Not rated
Countrywide rating
—
Countrywide rating of the head bank
—
Global rating of the head bank
Year of foundation
1984
History
Punjab National Bank is a state-owned enterprise in India. The bank was incorporated in 1894. PNB is the first Indian bank based solely on Indian capital to survive to this day.

The bank has more than 10,000 branches across India, besides having nearly 200 million customers who have access to more than 12,000 ATMs across the country
Personnel
Staff speaks English
Bank’s shareholders
Government of India - 73,15%;

Life Insurance Corporation of India (Investment Portfolio) - 8,335%;

Money Managers Ltd. - 1,092%;

SBI Funds Management Ltd. - 0,8666%;

The Vanguard Group, Inc. - 0,7175% и etc.
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements

    0
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Transactions permitted per month
    No restrictions on the number of transfers
    Minimum turnover, €/year
    No turnover restrictions
    How fast payments are executed
    Same day or next day

    Tariffs and services

    75
    Outcoming transfer, €
    0
    Incoming transfer, €
    N/A
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Transfer fee is ~ 0,10% - 0,15%
    Incoming transfer, €
    No commission for enrollment incoming transfer
    Distant access to the account
    Internet banking in English
    Financial products
    The bank provides a wide range of financial and banking services including credit/debit cards, savings/current accounts, loans, investments, etc.
    Credit/debit cards
    Yes

    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    Opening an account requires a personal visit of the director of the company to the bank
    Required
    Completed bank forms, client passport / ID, standard set of corporate documents, etc.
    Types of accounts
    Savings; Current
    Chances to open an account
    Predictable
    Business description
    Requirements to the description of the activity are standard: a story about the current state of the business and its formation, disclosure of the source of origin of funds, biography of the account beneficiary and contact information
    Offers
    Registration of a Private Limited Company in India. Service offer

    India is gradually becoming a fully-fledged player on the international market. It is no secret that the country attracts a growing number of foreign investors an...

    7600 USD

    Buy

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