Digital Savings Account – India Post Payments Bank
| Eligibility | Anybody above 18 years with KYC |
|---|---|
| Initial Minimum Deposit | NIL |
| Minimum Account Balance | NIL |
| Maximum End of Day Balance | INR 1,00,000 |
| Nomination Facility | Available |
| Linkage of POSA Account | NO |
| Monthly Average Balance (MAB) | NIL |
| Non-maintenance charges on MAB | NA |
| Annual Interest Rate | 2.75% |
| Interest Payment | Quarterly |
| SMS Alerts | INR 10 Quarterly |
| Account Statement | Free Monthly e-statement* |
| QR Card | NA |
| Setting of Standing Instruction Charges | Free |
| Account Closure Charges | NIL |
| Balance certificate per Instance | INR 50 |
| Card/ KIT returned due to wrong address | INR 50 |
| Bill Payments/ Re-charge | Free |
| Cash deposit charges | Free |
| Cash withdrawal charges | Free |
| Virtual Debit Card Issuance | INR 25 |
| Virtual Debit Card Reissuance | NIL |
Notes :
- Aadhaar & PAN card is mandatory for opening Digital Savings Account.
- To avail of unrestricted banking services kindly upgrade your Digital Savings Account to Regular Savings Account within 1 year by visiting any IPPB access point.
- The total cumulative deposit permissible in the account is INR 2 Lakhs within a year.
- Please complete your full KYC within 1 year. Non-compliance of the same can result in account closure.
- *If customer updated his/her valid email ID. On request Physical Statement @ INR 50
- The above charges are subject to change. IPPB reserves the right to change the above charges as per its discretion.
- Doorstep services and services at access point/branch are available for Digital Savings Account, only when the customer has completed biometric authentication.
- All charges are exclusive of GST. Virtual Debit Card issuance charge is including all Taxes.
Digital Savings Account
For the people who are tech savvy and comfortable with technology, IPPB’s Digital Savings Account is the best way to onboard yourself through the IPPB Mobile App. This app can be downloaded from the play store on your Android phone and also available on app store for iPhone users. Anyone above the age of 18 years, having Aadhaar and PAN card, can open this account. The account can be opened instantly from the comfort of your home, which means banking anytime, anywhere.
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