From the new year, customers of India Post Payments Bank (IPPB) account holders will be charged more for depositing cash as well as for cash withdrawals beyond the set limit. According to the bank’s website, it offers 3 savings accounts namely – regular A / c savings, digital A / c savings and basic A / c savings in addition to checking account.
|IPPB Savings Type of air conditioning and air conditioning current||Cash deposit fee||Cash withdrawal|
|Basic S / BA / c||Free up to any amount||Free up to 4 transactions per month and post a fee will apply at 0.5% of the value, with a minimum charge of Rs. 25 / withdrawal transaction|
|Regular S / BA / c and Current A / c||Free up to Rs. 10,000 / month and after that cash deposit will incur a fee equal to 0.5% of the value, subject to Rs. 25 / transaction||Free up to Rs. 25,000 per month and display 0.5% of withdrawal value, subject to minimum charge of Rs. 25 / transaction will apply|
“This is to inform all those concerned that the fees for depositing and withdrawing cash mentioned will come into effect on January 1, 2022. These prices do not include GST / CESS which will be levied at the applicable rates”, indicated IPPB on its website. .
The bank had notably revised its home banking fees which, as of August 1, 2021, amounted to Rs. 20 per request per customer.
One of the features of this type of IPPB savings accounts is its “Banking with QR card” function whereby a customer without remembering their bank account number or any other identifier can simply engage in activities. banking because the authentication process is completed via the biometrics client.
Note: According to RBI rules, customers cannot maintain an amount greater than Rs. 1 lakh in all payment banks, but they can open an account with the post office and any amount over the prescribed limit will be transferred to it. this.
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Article first published: Tuesday, December 21, 2021, 9:43 a.m. [IST]