PNB Bank Demat Account opening form for Individual from Download

Here are the key points of the Punjab National Bank (PNB) Demat Account Opening Form (Individual), structured for quick reference:

• Core Purpose: Forms the standardized registration path for individual retail investors to open a depository account (1 Individu… p. 1).
• System Capabilities: Accommodates standard Individual accounts, Hindu Undivided Family (HUF) holdings, and Basic Services Demat Accounts (BSDA) (1 Individu… pp. 1, 5).
• Dual Depository Platform: Operates as an authorized Depository Participant (DP) allowing applicants to register with either NSDL or CDSL (1 Individu… p. 1).

To process the application, all attached copies must be self-attested and physically verified against original papers by a bank official (1 Individu… p. 2):

• Identity Proof: Mandatory submission of Income Tax PAN card with photograph, alongside secondary choices like a Passport, Voter ID, Driving License, or Aadhaar Card (1 Individu… p. 2).
• Address Proof: Acceptable documents include Aadhaar letters, valid driving licenses, standard state-accepted Ration cards, or utility bills (Electricity, Gas, or Landline Telephone) not more than 3 months old (1 Individu… p. 2).
• Special Address Waiving: High Court and Supreme Court judges are permitted to submit a custom self-declaration to confirm a new residential address (1 Individu… p. 2).

• The Irrevocable Authorization: The applicant must provide an irrevocable written mandate authorizing PNB to auto-debit their linked Savings or Current Account to recover all active depository service charges and annual maintenance fees (1 Individu… p. 8).
• Non-Payment Penalties: If an account holder defaults on service fee payments for more than 30 days from the formal demand date, PNB can charge interest (1 Individu… p. 18). Furthermore, after serving a brief 2-day notice, the bank has the legal right to completely freeze and halt the processing of all further transactional instructions until the balance is cleared (1 Individu… p. 18).
• Signature Variance Clause: By signing, the holder takes full responsibility for any minor stylistic mismatches between their active bank record signature and their physical PAN card signature, agreeing to completely indemnify PNB against subsequent transaction claims (1 Individu… p. 9).

• Eligibility Boundaries: Nomination is restricted strictly to individuals holding accounts on their own behalf singly or jointly (1 Individu… pp. 9, 14). Non-individual entities—including societies, corporate bodies, partnership firms, trusts, or Power of Attorney (PoA) holders—are legally prohibited from creating a nomination (1 Individu… pp. 9, 14).
• Nominee Capacity: A demat account allows a maximum of three distinct nominees (1 Individu… pp. 9, 14). While a minor can be nominated, the account holder must declare a mature adult guardian; however, a trust, society, or corporate firm cannot be named as a nominee (1 Individu… pp. 9, 14).
• The Default Split Option: Applicants must specify the exact percentage allocation for each nominee, totaling 100% (1 Individu… p. 14). If multiple nominees are recorded but no financial percentage is indicated, the default system rule dictates that claims will be settled equally among all named nominees (1 Individu… p. 14).

• Fee Transparency Rule: In strict alignment with SEBI rules, PNB declares that no upfront charges are payable for opening a demat account (1 Individu… pp. 11, 17).
• Grievance Redressal: PNB is contractually and legally obligated to address and resolve all investor grievances and formal service complaints within a maximum timeline of 30 days from the receipt date (1 Individu… p. 18).
• Rate Alteration Window: PNB is prohibited from increasing any preset depository tariff structure or service fees unless it serves a formal, prior notice in writing to the account holder at least 30 days in advance (1 Individu… p. 17).
• FATCA/CRS Tax Compliance: Any applicant declaring a US Person status or holding a tax residency jurisdiction outside of India must disclose their high-integrity Taxpayer Identification Number (TIN) or functional equivalent (such as a Social Security Number or National Insurance Number) (1 Individu… pp. 10, 15). If a foreign tax connection is flagged but a TIN is unavailable, the user must complete a formal physical Self-Certification under Part IV (1 Individu… pp. 15-16).

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