RS 17.02 CRORES DISBURSED UNDER PNB RAKSHAK PLUS SCHEME
PNB Rakshak Plus Scheme
Dated 23.06.2025 : Punjab National Bank (PNB), one of India’s leading public sector banks, has disbursed Rs 17.02 crores under the bank’s Rakshak Plus Scheme, which aims to provide critical financial and insurance support to uniformed personnel and their families during times of loss or injury .
According to news reports , PNB has extended financial support of ₹17.02 crore to the families of 26 deceased defence and paramilitary personnel under its Rakshak Plus Scheme . This highlights the ongoing commitment of PNB to provide financial assistance and support to the families of those who have made the supreme sacrifice while serving the nation. The claims include benefits from the personal accident insurance and air accident insurance components of the scheme.
What is PNB RAKSHAK PLUS SCHEME?
The PNB Rakshak Plus Scheme is a specialized financial product offered by Punjab National Bank (PNB) designed to provide comprehensive banking and insurance benefits to serving and retired personnel of the Indian Armed Forces, Paramilitary Forces, and various Police Forces.
It’s essentially a salary/pension account with a host of added advantages, particularly focusing on financial security and support for the uniformed personnel and their families.
Here are the key aspects of the PNB Rakshak Plus Scheme:
1. Beneficiaries:
- Serving Personnel: Indian Army, Navy, Air Force, BSF, CRPF, CISF, ITBP, SSB, RPF, NSG, Special Protection Group, NDRF, firefighters, Research & Analysis Wing (RAW), Intelligence Bureau (IB), Central Bureau of Investigation (CBI), Indian Coast Guard, and trainees.
- Pensioners: Defence, Central, and State Police pensioners whose pensions are credited directly to their PNB accounts (via SPARSH/CPPC or other government systems, not by cheque/NEFT/RTGS).
- Agniveers: Covered under a similar scheme called PNB Agni Rakshak.
- Family Members: Parents, spouse, and dependent children of the primary account holder can often open zero-balance savings accounts.
Key Benefits (Varying slightly for serving personnel and pensioners):
- High Insurance Coverage:
- Personal Accident Insurance (Death/Permanent Total Disability): Up to ₹1 Crore for serving personnel, ₹50 Lakh for pensioners.
- Air Accident Insurance (Death): Up to ₹1.5 Crore for serving personnel, ₹1 Crore for pensioners.
- Partial Disability Coverage: Also included.
- Additional Cover for Death during Operations: ₹10 Lakh.
- Other insurance benefits: Including death after coma, emergency medical expenses, ambulance charges, and air ambulance charges.
- Zero Balance Account: For serving personnel (salary account) and family members.
- Sweep Facility: Automatically shifts excess funds from savings to fixed deposits to maximize interest earnings.
- Overdraft (OD) Facility: Up to the last 3 months’ net salary/pension (ranging from ₹75,000 to ₹3,00,000).
- Concessions on Loans: Preferential interest rates and reduced service charges on Housing, Car, Education (like “PNB Pratibha” for premier institutes/Army Educational institutions), and Personal Loans.
- Waiver of Charges:
- No cash handling charges across all PNB branches (treated as “Home” branches).
- Unlimited free Demand Drafts (DDs) / Pay Orders (POs) with a ceiling.
- Free SMS alerts, free debit/ATM card, free passbook updation, free fund transfers.
Locker Rent Concession: 25% annual maintenance charges (AMC) waived off for three years.
Education Cover for Dependent Children: Financial assistance (e.g., ₹5 Lakh per year for 4 years for two dependent children in case of accidental death of the primary account holder).
Girl Child Cover: For marriage as an additional benefit (e.g., ₹10 Lakh for one girl child or ₹2 Lakh for each of two girl children).
Body Repatriation Cost and Travel expenses for two family members.
Free remittance facility for Gorkha personnel to Everest Bank Limited (EBL) in Nepal.
ACCOUNT OPENING PROCESS :
I. For Serving Personnel (Opening a Salary Account):
This is typically a zero-balance salary account.
- Visit a PNB Branch: Go to your nearest Punjab National Bank branch.
- Request Application Form: Ask for a “Savings Bank Account Opening Form” specifically for the PNB Rakshak Plus Scheme or DSP (Defence Salary Package) account.
- Fill the Application Form: Provide all necessary details accurately.
- Submit Documents: You’ll need to provide KYC (Know Your Customer) documents and proof of your service.
- Proof of Identity (any one):
- PAN Card
- Aadhaar Card
- Passport
- Voter ID Card
- Driving License
- Proof of Address (any one, if different from Identity Proof):
- Aadhaar Card
- Passport
- Voter ID Card
- Driving License
- Utility bills (Electricity Bill, Telephone Bill – not older than 2-3 months)
- Bank account statement (from another bank)
- Letter from employer (to the satisfaction of the bank)
- Proof of Service:
- Service ID card (mandatory)
- Latest salary slip (usually for the last 1-3 months)
- Joining letter/appointment letter (if recently joined)
- Any other document requested by the bank to verify your status as serving personnel.
- Passport-sized Photographs: Usually 2-3 photographs.
- Proof of Identity (any one):
- Initial Deposit (Optional): While it’s a zero-balance account, you might make an initial deposit for immediate transactions.
Account Activation: Once your application and documents are verified, your PNB Rakshak Plus salary account will be activated. You will receive your new passbook, chequebook, and debit card.
II. For Pensioners (Converting Existing Account or Opening New):
You are eligible if you’re a pensioner and your pension is credited directly to your PNB account (via SPARSH/CPPC or other government systems, not by cheque/NEFT/RTGS).
Request Conversion/Application Form:
- For Conversion: Request a form to convert your existing savings account to a PNB Rakshak Plus Pensioner account.
- For New Account: Request a “Savings Bank Account Opening Form” for the PNB Rakshak Plus Scheme.
For more information contact us