Important points about the Digital Savings Account of India Post Payment Bank (IPPB)
India Post Payment Bank (IPPB) facilitates the opening of all types of savings accounts like regular, digital and basic. These three types of savings accounts are given at the rate of 4 percent interest. This information is available on IPPB’s official website ippbonline.com. Important points about the Digital Savings Account of India Post Payment Bank (IPPB)
IPPB offers all kinds of services like Savings and Current Account, Money Transfer, Direct Benefit Transfer, Bill, and Utility Payment and Enterprise and Merchant Payment. India Post Payment Bank provides services of RTGS, IMPS, and NEFT for fund transfer.
Important points about the Digital Savings Account of India Post Payment Bank (IPPB)The Digital Savings Account of India Post Payment Bank can be opened through the Payment Bank Mobile App. Anyone whose age is 18, has the base and PAN card, he can open this account.
You have to complete the formalities related to KYC within the next 12 months of opening this account, in case of not doing so, this account can be closed. The KYC formalities can be completed by going to any access point or with the help of GDS / Postman (Rural Postal Servants). After this, the Digital Savings Account will be upgraded to a regular Savings Account.
In this account, the account holders have the freedom to deposit the maximum amount up to Rs 2 lakh. In this account, interest is paid on an annual basis with a rate of 4 percent on the deposited amount, which is paid on a quarterly basis.
India Post Payment Bank’s Digital Savings Account can be opened with Zero Balance and customers do not have to pay Monthly Hours Balance on this.
Digital Savings Account can be linked with POSA (Post Office Savings Account). However, for this, you have to complete KYC formalities within 12 months of opening the account.
India Post Payment Bank Digital Savings Account terms and conditions that you will have to complete while opening your account.