PNB DSP account benefits
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PNB DSP Account Benefits and Eligibility

If you are a defense person and have a savings account with Punjab National Bank, then there is good news for you. Punjab National Bank has introduced a scheme called the PNB Rakshak Plus Scheme for defense personnel. 

This scheme is available to both serving and retired defense personnel. You can open a zero-balance salary or pension savings account with Punjab National Bank to enjoy a range of benefits and facilities offered by this scheme.

In addition, the scheme offers benefits to all pensioners who receive their pension through a PNB branch, and the pension is deposited through CPPC. However, it is important to note that accounts in which pension is received via cheque, NEFT, RTGS, and other methods are not included in this scheme.

 

In this article, we will provide information about PNB DSP account, its eligibility criteria, and its benefits. So, stay tuned until the end. 

What is the PNB Rakshak Plus Scheme?

PNB Rakshak Plus Scheme is a DSP account facility started by Punjab National Bank that offers special benefits  to serving, retired, and trainees of the defense forces, having their salaried account with PNB Bank

Eligibility for PNB DSP Account (Rakshak Plus Scheme)

Here are the eligibility criteria for opening an account under the PNB Rakshak Plus Scheme.

  • Defense personnel from all three Defense wings are eligible to open salary accounts under the PNB Rakshak Plus Scheme which is also known as PNB DSP account.
  • The scheme also includes BSF, CRPF, CISF, ITBP, State Police Force, Metro Police (in cities following the Police Commissionerate System like Delhi Police, Mumbai Police, Kolkata Police, etc.),
  • Research and Analysis Wing (RAW), Intelligence Bureau (IB), Central Bureau of Investigation (CBI), Indian Coast Guard Personnel, Para-Military personnel, Gentlemen cadets, and Special Forces at the Central and State levels. 
  • Additionally, the PNB Rakshak Plus Scheme will cover salaried personnel of Assam Rifles, Special Forces, SSB, RPF, NSG, Special Protection Group, NDRF, Firefighters, and trainees.
  • However, the scheme benefits differ for PNB DSP account for defense wings and paramilitary forces.

PNB Rakshak Plus Scheme Account Benefits

Detailed benefits of the PNB DSP Account (PNB Rakshak Plus Scheme) are given in the below table. 

Details as per the official website of Punjab National Bank.

Benefits

Amount

Personal accident insurance (Death) cover

Rs.50 Lakh

Personal accident insurance (Death) cover through Debit card

Rs2 lakh

Rs10 lakh* (* Rupay Debit Card Only)

Personal accident insurance (Death) cover through Credit card

Rs10 lakh

Air Accidental insurance cover(death cover)

Rs100 lakh

Personal Accident Permanent total disability

(PTD) Insurance

Rs 50 lakh

Funeral Expenses

Rs 0.20 lakh

Emergency Medical Expenses

Rs 0.25 lakh

Ambulance Charges

Rs 0.10 Lakh

Permanent Partial Disability

Rs 50 Lakh (% of Disability will be as per our GPA Schedule max 50 % of the capital sum insured)

Additional PAI Cover on Death due to Action Against Anti-national/Terrorist/Naxalites/ Foreign Enemy Activities

Rs 10 lakh

Girl Child Cover - (For Marriage as an additional benefit) (18-25 Yrs) (for one girl child only)

Rs 5 Lakh

Cost of Plastic Surgery/ Burns

Rs 10 lakh

Transportation of Imported Medicine

Rs 10 lakh

Death after Coma

Rs 2 Lakh

Education cover for dependent children

Educational benefits (Uniform, Stationary,

Transportation and Tuition Fees) Rs 5 Lakh in aggregate per year for 4 years for any 2 dependent children in case of accidental death of Defence personnel and other eligible account holders.

Travel Expenses of two family Members

Rs 0.40 Lakh

Body Repatriation Cost

Rs 0.30 Lakh

Other benefits of the PNB DSP Account Rakshak Plus Scheme

PNB bank covers Agniveers under the PNB Agni Rakshak scheme. 

PNB Agni Rakshak for Agniveers

Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Indian Army to provide specially designed products for Agniveers under the bank's exclusive scheme known as 'PNB Agni Rakshak'. The scheme includes personal accidental insurance, air-accidental insurance covering all Agniveers, as well as a Zero balance salary account with a Sweep facility, Internet banking, and Alerts.

Benefits of PNB Agni Rakshak for Agniveers 

Here is the overview of the benefits of the PNB Agni Rakshak for Agniveers. 

  • Personal Accidental Insurance policy of Rs. 50 Lakh and Air Accidental Insurance policy of Rs. 1 Crore.
  • Zero Balance salary account.
  • Sweep facility.
  • OD facility: Up to Rs 50000/- 
  • No cash handling charges.
  • The benefit of having a free and unlimited supply of cheque book for your use.
  • Passbook updation for all your accounts including non-home branches will be free of cost. 
  • Free fund transfer.
  • Unlimited free demand draft (DD)/pay order(PO).
  • Get a 25% rebate on the Annual Maintenance Contract (AMC) of lockers when you sign up for a 3-year package.
  • Get free SMS alerts.
  • Free Debit cum ATM Card.
  • Credit Card Facility available .
  • Additional Insurance on debit card.
  • Parents, spouses, and dependent children of the "Agni Rakshak" primary account holder can open a zero-balance savings account.

You can download Agni Rakshak Scheme press release by clicking here.

Frequently Asked Questions - FAQs

What is the initial deposit amount required to open the PNB Rakshak scheme account?

No initial deposit is required. You can open a zero-balance savings account under the PNB Rakshak Scheme.

Who is eligible for a PNB DSP account?

Defense personnel from all three Defense wings are eligible to open salary accounts under the PNB Rakshak Plus Scheme. This scheme also includes the Research and Analysis Wing (RAW), Intelligence Bureau (IB), Central Bureau of Investigation (CBI), Indian Coast Guard Personnel, Para-Military personnel, Gentlemen cadets, and Special Forces at the Central and State levels. 

What is the overdraft facility for a DSP account in PNB?

If you open a PNB DSP Account then the maximum amount that can be overdrawn is equal to the net salary or pension received in the last three months, ranging from Rs.75000/- to Rs.3,00,000/- lakh.

What is the PNB Pratibha scheme?

PNB Pratibha is an education loan facility in PNB that offers education loans to children of primary account holders who are admitted to premier institutes and Army educational institutions.

Which bank is best for a Defence salary account?

If you are serving or retired defense personnel and looking for a bank that caters to all your banking needs, Punjab National Bank's Rakshak Plus Scheme & the SBI DSP account are the best options. By opening a zero-balance salary or pension account with PNB, you can avail a Personal Accidental Insurance policy of Rs. 50 Lakh and an Air Accidental Insurance policy of Rs. 1 Crore. This makes PNB the go-to bank for all your banking requirements.

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