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Following concessions are allowed subject to recovery of out of pocket expenses 

Concession To Staff/ Ex-Staff Members

Following concession to staff members / ex - staff members of the Punjab & Sind Bank are permitted

  • Entry Charges: - No entry charges are to be levied in current accounts.
  • Remittances: - All Demand Drafts/ Electronic Fund Transfers shall be free of charge. However, actual out of pocket expenses shall be recovered.
  • Collection Charges: - All Cheques / drafts etc. shall be collected free of charge.
  • All negotiation of cheques / drafts up to Rs.5000/- shall be negotiated at par without levying collection charges regardless of the Bank on which the cheque is drawn for credit.
  • Besides above, no service charges be levied to the existing Staff and Ex-Staff members of Punjab and Sind Bank except locker rent and out of pocket expenses on actual usage basis where ever chargeable.

Concession To Pensioners

No Service Charge is to be levied to pensioners on collection / discount of pension bills / cheques of Central / State Government and Armed Forces.

Concession To Freedom Fighters

No service charges are to be levied on collection / discounting of pension bills / pension cheques of freedom fighters.

Concession To Defense Personnel

In the account of defense personnel in active service as well as ex - servicemen, collection of outstation cheques and issuance of DD shall be free of charge, subject to collection of out-of-pocket expenses.

Concession To Religious, Welfare Service, Charitable Institutions, Differently abled Individual and Institutions Set Up for their benefit

The facility of collection of upcountry instruments at par, payment of DD to their own benefit at par are permitted provided these institutions are exempted from payment of Income Tax Act and copy of Certificate is obtained by branch.

Account Of Government Department / Ministries

Cheques issued by Government Department representing subsidies under IRDP and other special program shall be collected at par.

Co-Operative Banks, Land Development Banks, Regional Rural Banks, Service Co-Operative, District Rural Development Agency etc.

Concession of 50 % of service charges shall be extended to Co-operative Banks for issuance of DD/RTGS/NEFT, which maintain their account with the Bank. The Urban Co-operative Banks shall give an undertaking at their Head Office level that they shall levy the charges of Public Sector Banks to Customers.

Bank Under Agency Arrangements

Service Charges are as per agency arrangement to be levied provided benefit is not passed on to customers.

Concession To Educational Institutions

Salary bills of teachers employed in Government run schools may be done at par and discounting free of charge also for sum up to Rs.5000/- per individual in case the employee’s salary accounts are maintained in our Bank.

Concession To Regional Rural Banks

No Collection charges are to be levied by Bank for collection of cheques / draft tendered by RRB irrespective of whether RRB is sponsored by the Bank or not.

Payment To Suppliers While Disbursing Loan Under Government Sponsored Schemes

No charges are to be levied for remittance under above scheme.

Concession in Remittance / Collection

  • No collection charges to be levied for collection of local Cheques / Drafts.
  • No remittance / collection charges for transfer of funds to Prime Minister / Chief Minister Relief Fund are to be levied.
  • Dividend Warrant and Gift Cheques up to Rs.100/- to be collected at par subject to collection of out-of-pocket expenses.

No Service Charge is to be levied on Rupee Draft issued by Correspondent Bank and Exchange Companies favouring NRI Customers provided Rupee Draft favouring NRI customer is issued by branches of same Bank abroad or Correspondents / Foreign Officers of any Foreign / Indian Banks or ECS maintaining accounts with this bank or any other bank. Draft should be payable through rupee accounts maintained at branches in India nominated by the Banks.

Sharing of service charges with other Banks


When outstation cheque / bills sent or received for collection, where we do not have our branch / other bank does not have their branch, then collection charges are to be shared with other bank in the ratio of 50:50 and & Out of pocket expenses be charged on actual basis from the depositor of the instrument as per existing practice.

Transfer Of Funds - Deposit Accounts

No service charges to be levied on cheques issued as per court order for placing the amount in term deposit.


“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”