India Post Payment Bank Account Opening Online

India Post Payment Bank Account Opening Online –Through the IPPB mobile app, the India Post Payments Bank (IPPB) offers a digital savings account opening service. You will be able to contribute to a PPF or Sukanya Samriddhi account at a post office using this account, as well as open recurring deposits and conduct transfers to third parties.

To open a digital savings account through the IPPB application, the individual must be an Indian citizen over the age of 18 and possess an Aadhaar number, PAN, and an Aadhaar-linked mobile number. Within one year of opening a digital savings account, the account holder must complete the KYC authentication process at the relevant post office branch to convert it into a regular savings account. You can download the IPPB app and follow the steps below to create an IPPB account.


India Post Payment Bank Account Opening Online

What's In the Article

Digital facilities are being used by modern financial institutions to carry out the majority of their services. The change makes financial tracking services better, saves time, and increases security. Users can conduct financial transactions without having to visit a bank thanks to digital banking. Additionally, it permits unretract international transfers of funds by the sender. E-wallets, mobile apps, and digital accounts are just a few of the systems that have been introduce by technology.

Customers can now conduct business from the convenience of their offices or homes thanks to the adoption of the new digital system by the Indian banking industry. Under the India Post Payment Bank Account Opening Online , Department of Post, and Ministry of Communication governments, there is a reputable bank known as the India Post Payment Bank (IPPB). Since its inception in 2018, the bank has had millions of registered customers.

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India Post Payment Bank Account Opening Online

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India Post Payment Bank Account Opening Online Details

Name of the Bank India Post Payment Bank
Name of the  Article India Post Payment Bank Apply Online 2024
Type of Article Latest Update
India Post Payment Bank CSP Apply Mode? Online and Offline.
Category How To Guide
Official Website

Features of IPPB account

The India government owns 100% of the equity in the India Post Payment Bank Account Opening Online , which was establish under the Ministry of Communication’s Department of Post. IPPB has expand its reach throughout India to include post offices through a network of 650 core-model IPPB branches and control offices. IPPB offers three types of savings accounts: a regular savings account, a digital savings account, and a basic savings account. The three types of savings accounts each have a set annual interest rate of 4%. The most significant information regarding the IPPB’s Digital Savings Account can be found below:

  • You can use your PAN, Aadhaar, and register mobile number to create an account on the app if you already have an IPPB savings account with a KYC (know your customer) feature.
  • It is essential to keep in mind that an IPPB savings account is vastly different from a post office savings bank (POSB) account.
  • The account would be close if the KYC procedure was not complete within a year. The KYC procedure must be complete at any of the access points or with the assistance of the GDS/postman (Gramin Dak Sevaks), according to the IBBP website
  • After that, the Digital Savings Account can be convert to a Regular Savings Account. You can use the app to transfer money to your post office schemes, such as RD, PPF, and SSY, after creating an IPPB account.
  • The app only allows transfers under these plans, not account creation.
  • You can also move money to the IPPB account from your POSB account.
  • To move to the appropriate post office schemes, select the scheme that is display in the app’s “post office services” section.
  • The app will ask for your post office customer ID and the scheme account number you invest in.
  • The IPPB app will notify you after each successful money transfer.
  • Post office customers can also borrow against some programs, like the RD and PPF, with some restrictions.
  • The IPPB app lets you make loan repayments if loans are taken out against your deposit.

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IPPB account current deposit and withdrawal rules

If you have an India Post Payment Bank Account Opening Online “basic savings account,” you can make four transactions for free. After that, there will be a fee of Rs 25 per transaction (only withdrawals), or 0.50% of the total amount that is withdrawn. There will be no additional costs associate with deposits of any kind. If you have a savings account other than the “basic savings account,” you can withdraw up to Rs 25,000 per month. Any subsequent withdrawals will incur a fee of Rs 25 per account, or 0.50% of the total amount spent on the transaction. This account allows you to deposit up to Rs 10,000 per month without paying any additional fees.

After that, you’ll have to pay Rs 25, or 0.50% of the total. If you have an account that is not with the IPPB, you are entitle to three free transactions. These transactions include things like mini statements, deposits, and withdrawals. You will be require to pay Rs 20 for each withdrawal once your free transactions have been used up. You must pay Rs 5 for a statement. Additionally, fees will be assess for fund transfers. The IPPB also requires that everyone keep a minimum balance of Rs 500. In the event that your minimum balance falls below the stated amount, an additional fee of Rs 100 will be assess.

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Eligibility Criteria for IPPB Digital Saving Account

  • The user must be at least 18 years old to qualify.
  • The KYC procedures must be complete within one year or earlier. Keep in mind that the bank will close the account if the user does not complete the information.
  • The IPPB account holder should go to the bank’s branch, access points, or GDS/postman to complete the KYC process. The account is made into a regular savings account after the details are enter.
  • The bank lets you put down a maximum of Rs. 15,000 in the account.
  • The digital savings account is link to the Post Office Savings Account (POSA) after the KYC details are complete. The digital savings account can be used to make payments in merchant stores and post office savings programs.
  • Any balance below Rs. 1,000 is subject to a 2.25 percent interest rate. 1 lakh.
  • The applicant should provide either their PAN or Aadhaar number.

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Services of IPPBS

The following goods and services are provide by the India Post Payments Bank Scheme:

  • Savings account
  • Current account
  • Mobile banking
  • SMS banking
  • Missed call banking
  • Phone banking
  • QR card
  • Doorstep banking
  • Payments
  • Insurance
  • Banking for merchants (business banking)

Types of IPPBS Saving Accounts

There are three types of savings accounts offer by IPPBS:

  • Regular
  • Digital
  • Basic – current account

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India Post Payment Bank Helpline Number

You can access your IPPB phone banking account at any time and from any location. You can get answers to your questions and information about your account, IPPB’s products, and services. Call the toll-free number 155299 or the toll-free number 1800-180-7980 and request the phone banking service. Depending on the type of transaction, phone banking services will offer a combination of IVR (interactive voice response) and interaction with an assist operator.

Transactions that cannot be complete via IVR can be assist by a specialize phone banking officer. You can use IPPB’s products and services right away because phone banking services are currently available in 13 languages via IVR and eight languages via the agent-assist network. In the not-too-distant future, these languages will be expand to 13 additional languages. You can also send an email to contact at India Post Payment Bank.

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How To Apply India Post Payment Bank Account Opening Online?

The applicant must first download the IPPB Mobile Banking application to their mobile phone and then follow the steps below to open a digital savings account.

  • Click “Open Account” in the IPPB Mobile Banking application.
  • Now, enter your Aadhaar number and PAN card. You will now receive an OTP on your register mobile number that needs to be enter in order to verify your identity.
  • Now you need to fill in personal information like your mother’s name, education, address, and details about your nomination.
  • Your account will be create after you submit the information, and you can access it through the app.

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register for IPPB mobile banking services

You can take advantage of mobile banking services by linking your register mobile number to your IPPB account, which you open at the Post Office or through the concern Postman or GDS at your door. A platform that is easy to use powers the mobile banking services. You can now use mobile banking to do a lot of things, like check your balance, get an account statement, transfer money within the bank or to other banks, pay your utility bill, recharge your phone or DTH, and manage your money in the register POSA (Post Office Savings Account) with the Sweep-in and Sweep-out facility. Follow these steps to sign up for the mobile banking services:

  • Open the IPPB app on your mobile device, enter your account number, date of birth, customer ID (CIF), and register mobile number, and then close the app.
  • You will now receive an OTP on your register mobile device that must be verify.
  • You will be prompt to generate a MPIN following the successful verification of the receive OTP.
  • You will be able to use mobile banking services once you have successfully create an MPIN.

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