Sending Money to Punjab National Bank in India
How to send USD directly to Punjab National Bank accounts in India. Transfer times, IFSC codes, limits, and how Root delivers INR to any Punjab National Bank br
This guide is designed for NRIs in the USA sending money from the United States to Punjab National Bank accounts in India. Root enables direct INR transfers to any Punjab National Bank branch nationwide. You’ll learn how to send money quickly, avoid common mistakes, and understand key details like IFSC codes and tax implications. Whether supporting family or managing expenses back home, this page covers everything you need for a smooth remittance experience.
Punjab National Bank (PNB) is a major Indian public sector bank with an extensive branch network, especially across North India. It offers various account types including NRO, savings, and current accounts, all supported by Root for incoming remittances. While NRE account support is upcoming, NRO and domestic accounts are fully functional for receiving money via Root.
Quick Facts
Transfer Fee
$0 — Root charges zero fees
Exchange Rate
CHECK_LIVE (interbank rate)
Transfer Time
1-4 business days to Punjab National Bank
Account Types
NRO, Savings, Current accounts at Punjab National Bank
IFSC Required
Yes — 11-character code for recipient's branch
How to Send — Step by Step
Create and verify your Root account
Download the Root app or visit the website to sign up using your US ID and address. Complete identity verification as required under US financial regulations.
Enter recipient's Punjab National Bank details
Add the beneficiary name, full bank account number, and ensure the account type (e.g., NRO or savings) is correct.
Pro tip: Double-check the spelling of the name and account number to prevent failed transfers.
Find the correct IFSC code for the Punjab National Bank branch
Use the official Punjab National Bank IFSC finder tool or ask your recipient to check their passbook or net banking. The 11-character IFSC is mandatory for successful delivery.
Pro tip: An incorrect IFSC can delay or reverse your transfer — always confirm it with the recipient.
Enter the USD amount to send
Root displays the live interbank exchange rate and shows exactly how many INR will be credited to the Punjab National Bank account.
Pro tip: For amounts over ₹7,00,000 in a financial year, 5% TCS may apply on the remittance value.
Review and confirm the transfer
Verify all details, especially the account number and IFSC, then authorize the transaction using your secured Root login.
Track the transfer in-app
Root provides real-time updates. Most transfers reach Punjab National Bank within 1-4 business days.
Send Money to Punjab National Bank with Root
Zero fees, interbank rate. INR credited directly to any Punjab National Bank account.
Send with RootFrequently Asked Questions
Can I send money from the USA to any Punjab National Bank branch in India?
Yes, Root supports direct INR deposits to over 11,000 Punjab National Bank branches across India, provided you have the correct 11-digit IFSC code for the specific branch.
What happens if I enter the wrong IFSC for a Punjab National Bank account?
If the IFSC is invalid or doesn’t match the account, the transfer will typically be reversed within 2-5 business days, delaying receipt of funds by at least 72 hours.
Is there a minimum or maximum amount I can send to a Punjab National Bank account?
Root allows transfers as low as $1 and up to $25,000 per transaction. For annual remittances over ₹7,00,000 (~$8,400), 5% TCS applies under Indian tax rules.
Do recipients need to pay tax when receiving money in a Punjab National Bank NRO account?
While NRO account credits are not taxed at source, interest earned is taxable in India. TCS at 5% applies if total LRS remittances exceed ₹7,00,000 in a financial year.
How fast does money reach Punjab National Bank from Root?
95% of transfers sent via Root reach Punjab National Bank accounts within 1-4 business days, depending on banking partner processing times and intermediary checks.