India Post payment bank's accounts do not have to be kept in the minimum balance, you will get these benefits
IPPB Offers Zero Balance Account, Know the Account Holders What Are the Benefits ...
New Delhi (Business Desk) Prime Minister Narendra Modi has launched India Post Payments Bank (IPPB) last week. It offers three types of savings accounts to customers - Regular, Digital and Basic. For information, let us know that digital Savings accounts can be opened through the IPPB mobile app, whereas regular and basic post office or postman can be opened. The most important thing about these savings accounts is that there is no mandatory minimum balance remaining. For instance, the IPPB Savings Account offers Zero Balance Account.
Know What is Minimum or Maximum Balance Rule?
Since these accounts are zero balance accounts, hence the minimum basic rules do not apply. However, customers have to take care of maximum balance in them. According to the Reserve Bank of India guidelines, account holders can keep up to a maximum of one lakh rupees. Therefore, as soon as the limit of one lakh rupees is crossed, the transaction is automatically rejected.
To avoid all these things, it is better to open a Post Office Savings Account and link it to your IPPB account. If the balance crosses one lakh rupees then the additional amount will be transferred to the post office account. This is called Regular Savings Bank Account.
How much is the interest on the IPPB account?
All types of IPPB accounts get interest of four per cent annually. Interest is paid on a quarterly basis.
Know What are the rules of deposit / withdrawals?
Regular and Digital Savings Account can withdraw or withdraw money from the customer as often as possible. There is a four time withdrawal limit on the Basic Savings Account. At the same time, for cash withdrawal / deposit, it has to go to its nearest post office where IPPB services are available. Consumers can call the Postman or the Rural Postal Service (DGS) by calling both the digital and cash transactions through the QR card. However, banking access to your door is not free. For this, the customer has to pay 25 rupees for the transaction made in cash and Rs 15 for the digital.
At the same time, if you pay through the IPPB app then you will not have to pay any kind of charges. For information, please note that ATM cards are not provided with IPPB accounts, so can not withdraw cash from ATMs.
Know what the rules of the Digital Savings Account
Like other payment banks, IPPB allows customers to open digital saving, which you can open without having to sit at home. It is valid only for 12 months. Within this year, the customer has to convert it into a regular account. For this, the account holder has to provide his biometric data to the postman. In the event of not doing so, the account is closed.
Click here to read in hindi
IPPB Offers Zero Balance Account, Know the Account Holders What Are the Benefits ...
New Delhi (Business Desk) Prime Minister Narendra Modi has launched India Post Payments Bank (IPPB) last week. It offers three types of savings accounts to customers - Regular, Digital and Basic. For information, let us know that digital Savings accounts can be opened through the IPPB mobile app, whereas regular and basic post office or postman can be opened. The most important thing about these savings accounts is that there is no mandatory minimum balance remaining. For instance, the IPPB Savings Account offers Zero Balance Account.
Know What is Minimum or Maximum Balance Rule?
Since these accounts are zero balance accounts, hence the minimum basic rules do not apply. However, customers have to take care of maximum balance in them. According to the Reserve Bank of India guidelines, account holders can keep up to a maximum of one lakh rupees. Therefore, as soon as the limit of one lakh rupees is crossed, the transaction is automatically rejected.
To avoid all these things, it is better to open a Post Office Savings Account and link it to your IPPB account. If the balance crosses one lakh rupees then the additional amount will be transferred to the post office account. This is called Regular Savings Bank Account.
How much is the interest on the IPPB account?
All types of IPPB accounts get interest of four per cent annually. Interest is paid on a quarterly basis.
Know What are the rules of deposit / withdrawals?
Regular and Digital Savings Account can withdraw or withdraw money from the customer as often as possible. There is a four time withdrawal limit on the Basic Savings Account. At the same time, for cash withdrawal / deposit, it has to go to its nearest post office where IPPB services are available. Consumers can call the Postman or the Rural Postal Service (DGS) by calling both the digital and cash transactions through the QR card. However, banking access to your door is not free. For this, the customer has to pay 25 rupees for the transaction made in cash and Rs 15 for the digital.
At the same time, if you pay through the IPPB app then you will not have to pay any kind of charges. For information, please note that ATM cards are not provided with IPPB accounts, so can not withdraw cash from ATMs.
Know what the rules of the Digital Savings Account
Like other payment banks, IPPB allows customers to open digital saving, which you can open without having to sit at home. It is valid only for 12 months. Within this year, the customer has to convert it into a regular account. For this, the account holder has to provide his biometric data to the postman. In the event of not doing so, the account is closed.
Click here to read in hindi