Cheque Book of these Banks will not Work from Next Month

Finance

Punjab National Bank (PNB) had issued a tweet on Wednesday, alerting its customers and account holders of a new change. From next month onwards the bank has stated that the existing cheque books of the Oriental Bank of Commerce (OBC) and United Bank of India will be discontinued. The lender said that this change would come into effect from October 1, 2021. Additionally, Punjab National Bank has also requested its customers to replace their old chequebooks as soon as possible.

The tweet that was issued from their official Twitter account read: “The old cheque book of eOBC and eUNI are going to be discontinued from 1-10-2021. Please replace your old cheque book of e-OBC and e-UNI with the PNB cheque book with updated PNB IFSC and MICR.”

It was also mentioned that these account holders who are looking to make the changes could do so in a few different ways. The bank stated that you can apply for your new cheque book through either ATM, internet banking, PNB One or via a call centre.

“Get your new cheque book from your branch or apply through ATM/IBS/PNB ONE. All customers are requested to use new PNB Cheque Book with updates PNB IFSC and MICR only from now onwards to avoid any transactional inconvenience. Please contact our toll-free number 1800-180-2222 for any assistance or query,” said Punjab National Bank on its Tweet.

Both the Oriental Bank of Commerce and the United Bank of India were merged with Punjab National Bank back in April of 2020.

Other Changes by Punjab National Bank

As the festival season rounds the corner, the lender has decided to waive all service charges and processing fees on retail products as part of the holiday season offers. The bank will also be waiving the documentation charges on its retail products such as home loans, vehicle loans, property loans, personal loans, pension loans and even gold loans.

It also offers a refreshed interest rate starting from 6.80 per cent on home loans. For car loans, the bank has started offering an interest rate of 7.15 per cent. Additionally, the bank will also be offering an attractive interest rate for its home loan top-up. It mentioned that customers will be able to avail of these offers till the end of this year, i.e., December 31, 2021.

Allahabad Bank Cheque Book Changes Next Month

Along the same line as Punjab National Bank, erstwhile Allahabad Bank will also be discontinuing its cheque books and the MICR code from the start of next month. This came from a Twitter post expressing that the bank would halt these processes come October 1, 2021. The tweet itself was issued earlier on July 31, 2021. The bank told its customers to get the new cheque books from their nearest branches or to apply for them via internet/mobile banking.

The tweet from the India Bank account read: “Enjoy smooth banking transactions without any glitch. The MICR code and cheque books of the erstwhile Allahabad Bank will be discontinued from 01.10.2021. Get new cheque books from your nearest branch or apply through internet banking/mobile banking.”

 

Source: news18

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