Can I Buy Bitcoin with Punjab National Bank?

Punjab National Bank (PNB) does not offer cryptocurrency trading through its online banking platform or PNB ONE. However, customers can buy Bitcoin by transferring Indian rupees (INR) from their PNB account to a regulated exchange in India that supports local bank deposits.

Deposits can be made through UPI, IMPS, NEFT, or RTGS. Once funds reflect in the exchange wallet, investors can use them to purchase Bitcoin or other digital assets instantly.

PNB permits transfers to exchanges that comply with India’s Financial Intelligence Unit (FIU-IND) reporting requirements and follow strict Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.

How to Buy Crypto with Punjab National Bank

The best way for Punjab National Bank customers to buy crypto is through Bybit, a regulated exchange that supports INR deposits from Indian banks. Bybit is trusted for its security, low trading fees, and fast transfers through UPI, IMPS, NEFT, or RTGS directly from PNB accounts.

The platform lists more than 2,000 cryptocurrencies with strong liquidity across Bitcoin and USDT pairs, offering tight spreads and quick order execution.

Step-by-step guide to buy Bitcoin with Punjab National Bank:

1. Create an Account: Register on Bybit and complete KYC verification.
2. Select Buy Option: Choose INR under “One-Click Buy” or “P2P Trading.”
3. Choose Payment Method: Transfer funds from your Punjab National Bank account using UPI, IMPS, or bank transfer.
4. Confirm and Receive: Once payment is confirmed, Bitcoin is credited to your Bybit wallet for trading or withdrawal.

Fees and Deposit Limits for Punjab National Bank Customers

Punjab National Bank users should review Bybit’s fees and transaction limits before transferring funds.

• Deposits: INR deposits through UPI, IMPS, NEFT, or RTGS from PNB accounts are free. The minimum deposit is about ₹500, with no conversion fees when funding in rupees.
• Withdrawals: Only a small blockchain fee applies, with no added platform charges. Withdrawals can be returned to the same Punjab National Bank account used for deposits.
• Limits: Verified users can move up to ₹10 lakh daily, while higher KYC tiers allow larger monthly transfers.
• Trading: Bybit charges a 0.1% trading fee. By comparison, platforms like Coinbase often charge around 1.5% on buy and sell orders.

This pricing makes Bybit a cost efficient, practical choice for Punjab National Bank customers investing in crypto.

Punjab National Bank Cryptocurrency Policy

Punjab National Bank has not released formal guidelines on cryptocurrency transfers but follows India’s banking and compliance standards under the Reserve Bank of India (RBI) and the Financial Intelligence Unit (FIU-IND).

While crypto is not legal tender, investors can use FIU-registered exchanges that follow strict KYC and AML rules. These platforms are authorized to receive INR deposits from Indian banks, including PNB, as long as they meet regulatory reporting and verification requirements.

PNB permits transfers to compliant exchanges, aligning with India’s broader regulatory framework focused on transparency and consumer protection.

Best Alternative Exchanges for PNB Customers

Punjab National Bank users who prefer not to use Bybit can choose from several reliable exchanges available in India:

• BloFin: Enables trading without mandatory KYC for faster access and privacy. Lists 600+ cryptocurrencies with strong BTC and ETH liquidity, plus Copy Trading and grid or DCA bots. Fees start at 0.1%, with INR deposits via cards and third-party processors.
• Binance: The largest global exchange offering deep liquidity and 500+ assets. Supports INR funding through its zero-fee P2P marketplace and charges a 0.1% trading fee. Complies with global AML and KYC rules but is not FIU-IND registered.
• CoinSwitch: FIU-IND registered and used by over 25 million Indians. Lists 350+ cryptocurrencies, accepts INR deposits from ₹100 via UPI, bank transfer, or cards, and offers staking, SIPs, and SmartInvest tools. Fees average 0.2%.

Investors should compare fees, assets, and deposit methods before choosing an exchange compatible with Punjab National Bank transfers.

About Punjab National Bank

Punjab National Bank is one of India’s largest state-owned banks, serving over 180 million customers through 12,000+ branches. Founded in 1894 and based in New Delhi, it offers savings and current accounts, fixed deposits, home and business loans, and credit cards under the Global and Rupay brands.

Its digital app PNB ONE supports mobile and online banking, while services like MetLife Insurance, Rakshak Salary Account, and Balika Shiksha Scheme extend coverage to retail, corporate, and government clients nationwide.

Final Thoughts

Punjab National Bank customers can safely invest in crypto by using regulated exchanges that accept INR deposits, such as Bybit or CoinSwitch. 

These platforms comply with India’s KYC and AML standards, ensuring transparent and secure transactions. 

Before funding an account, investors should compare fees, supported assets, and verification levels to choose the option that best aligns with their trading goals and comfort with regulation.