Punjab National Bank Int Ltd

steady__eddie

I don't know if it is possible to make an appointment or not but I just walked in off the street a couple of weeks ago. The branch had a "secure" area with tellers behind screens and a more informal area with a desk and an "advisor" who opened my account for me. There were a few customers in front of me and as far as I was able to ascertain they were transferring assets from the U.K. to the sub-continent. The application process itself took about 20 minutes comprising of photostating my I.D. and a verbal explanation of the a/c. even though I was supplied with a hard copy of same. I was embarrassed to a point by the courtiesness of the gentleman with whom I dealt, (The Raj may have had some benefits) "Sir" was liberally sprinkled in his conversation. I thought that this approach disappeared with the demise of George Mainwaring.
Parking is a bit dodgy, They have taken over premises which I believe were once owned by Flights Coaches if you are familiar with the area but parking is available a 2 minute walk away which is FREE and nore importanly safe round the corner in Booth Street.
Currently I am unable to locate the T + Cs re the EAsy Savings Deposit account due to the fact that it is Sunday afternoon and I am currently enjoying my afternnon off listening to Vintage and sampling this years toil on the home brewing front.:beer: I'll dig the T + Cs out tomorrow and post if you want.

soulsaver

Reaper wrote: »

I take that to mean you will only receive the interest payments at the end of the 5 years, so no compounding will take place. I assume that is why the 4.5% AER is a little lower than I would otherwise have expected from the annual rates quoted. Even so it is indeed a good rate and does come with FSCS protection.

To
PND: June 2012. Can you confirm by email my understanding of what you said was the Premium Deposit product:

3.0 % interest on principal paid into ac at 1st anniversary of account opening/deposit.

4.2% paid at 2nd year anniversary on principle and accrued 1st year interest.

4.7% paid at 3rd anniversary on principal and accrued1st & 2nd year interest

5.3% paid at 4th anniversary on principal and accrued1st, 2nd & 3rd year interest

5.8% paid at 5th anniversary on principal and accrued1st, 2nd, 3rd & 4th year interest

No interest if (total?) w/d before 1st anniversary.

No interest paid for year of withdrawal (on w/d amount?) between anniversaries.

She confirmed this in reply.

It may have changed now - because I thought this progressive had been withdrawn ages ago?

I got caught once by ICICI - shorted me by £375 interest. Not happen again.

soulsaver

Further - watch for this:
No partial w/ds they said - only close the account.
Me: You allow multiple PD accounts?
PND: Oh yes you can have as many as you wish.
Me: Ok I'll divide my funds between 4 a/cs so I can just close the one should I need access to a portion.
PND. Okie Kokie.