Many lenders use credit scoring to help them decide whether to offer you credit
Credit score is designed to be a prediction of how likely you are to repay a loan, on time
Your credit score will change over time as your financial circumstances change
For example, paying off a debt could improve your score, while having a court judgment made against you would reduce it
Credit Score ranges from 300 to 900
Those with a higher score are more likely to have their financial application accepted
Lower score means fewer credit opportunities
How to Search for Punjab National Bank & MICR Codes?
You can find the IFSC and MICR codes for any Punjab National Bank branch printed on the cheque books issued by the bank. Each cheque book has the IFSC code of the branch from where it has been issued.
You can find the IFSC or MICR CODE for any branch of Punjab National Bank via IndiaLends which provides information in a very easy format. All you have to do provide the information such as the bank name, the state and district and the particular branch that you’re looking for. Once you’ve provided that information, the page will immediately display the IFSC and MICR code for the bank that you’ve chosen, along with other relevant information like the address and contact details of the bank.
How do transfer funds using Punjab National Bank Limited RTGS & NEFT
Punjab National Bank customers can transfer fund using National Electronic Funds Transfer (NEFT), Real Time Gross Settlement System (RTGS) as well as IMPS platforms. You can use either of these facilities to send money across different banks, different accounts, different states and different cities.
Real Time Gross Settlement System (RTGS):
RTGS funds transfer can be used to send amounts of Rs. 1 lakh and above. You can go RTGS transfer through net banking or by walking into any of the branches. You must fill up a Fund Transfer Instruction form which is available at the Punjab National Bank. You need to provide the following information.
Name of the recipient
Account number and type of account of the recipient
Bank Name, branch, IFSC code of the recipient
Transfer amount
Remark to the receiver
RTGS is available for customers to use on weekdays and Saturdays. It will not be available on Sundays and National holidays.
Fees & Charges for RTGS Transaction by Punjab National Bank :
Amount
Charge(per transaction, excluding taxes)
INR 2 lakh(Minimum Amount)
Sum between INR 2 lakh to INR 5 lakh
INR 25 + Applied Taxes
Sum betwwen INR 5 lakh to INR 10 lakh
INR 50 + Applied Taxes
National Electronic Funds Transfer (NEFT)
NEFT can be used to transfer smaller amounts of money that do not exceed Rs. 99,999. To use this platform, customers can follow the same procedure as stated for RTGS. Fill up the Fund Transfer Instruction form available at the bank. You will need to furnish the information given below.
Name of the recipient
Account number and type of account of the recipient
Bank name, branch, IFSC code of the recipient
Transfer amount
Remark to the receiver
Fees & Charges for NEFT Transaction by Punjab National Bank :
Transaction Charges
NEFT
Cash up to INR 10,000
INR 2,50 + Applied Taxes
Sum between INR 10,000 and INR 1 lakh
INR 5 + Applied Taxes
Sum between INR 1 lakh and INR 2 lakh
INR 15 + Applied Taxes
Sum between INR 2 lakh and INR 5 lakh
INR 25 + Applied Taxes
Sum between INR 5 lakh and INR 10 lakh
INR 25 + Applied Taxes
NEFT Transaction timings specified by Punjab National Bank:
Transaction Timings
NEFT
All days except Sundays, 2nd and 4th Saturdays
8:00 AM to 6:30 PM
About Punjab National Bank
Punjab National Bank is a multinational banking and financial services company based in New Delhi, India. Founded in 1895, the bank commenced its operations from Lahore, the bank has me By 2017, the bank already had a customer base of over 80 million along with 6937 branches and 10,681 ATM’s in 764 cities.
