IPPB Zero Balance Savings Account | IPPB Zero Balance Account Opening Online | Post Office Zero Balance Account Opening Online | IPPB Interest Rate | IPPB KYC Point Near Me
There are several benefits of holding Zero Balance Account. There is no need to maintain Minimum Average Balance in this type of accounts. Further, there is no need to pay any Account Maintenance Charge. Most of the Zero Balance Account can be opened instantly from your Mobile. In this post, we are going to discuss about IPPB Zero Balance Savings Account.
India Post Payments Bank Zero Balance Savings Account
IPPB Savings Accounts are products of India Post Payments Bank (IPPB) which was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India. At present IPPB offers three types of savings accounts – Basic, Digital, & Regular. All these three types of savings accounts are zero balance account and can be opened easily. Although, IPPB is controlled by Department of Post, but IPPB savings account is completely different from Post Office Savings Account.
IPPB Basic Savings Account
To provide the primary banking services; especially to the financially weaker section of the society at a very low cost, IPPB offers the facility of Basic Savings Account. In terms of features & benefits, this savings account is similar to the IPPB’s Regular Savings Account. The only difference in this type of account is, it allows only four cash withdrawals in a month.
Features and Benefits of IPPB Basic Savings Account
- Instant and paperless account opening by using Aadhaar.
- Banking at your convenience.
- Easy and convenient Non-eKYC account opening.
- No monthly average balance required to be maintained.
- The account can be opened with zero balance.
- Free monthly e-statement.
- Mini statement through SMS.
- Simplified banking services through QR card.
- Instant fund transfer through IMPS.
- Easy bill payment and recharges.
- This account can be linked to a Post Office Savings Account and can be accessed through IPPB Mobile Application.
- Free account opening at your doorstep.
- Assisted services through the GDS, as and when required.
- Availability of funds at your doorstep, upon request.
- Bill payment facility at your doorstep
- Simple and secure banking with QR card
- Multilingual customer support
- No commitment of minimum balance
- Nominal charges
- Day end balance above Rs. 2 lakh can be swept out to a linked POSA (Post Office Savings Account).
- Access to the growing merchant network of IPPB through IPPB QR card.
Interest Rate on IPPB Basic Savings Account
- Balance up to INR 1 Lakh – 2.50% per annum.
- Balances above INR 1 Lakh & up to INR 2 Lakh – 2.75% per annum.
- In this case, Interest is payable quarterly.
IPPB Digital Savings Account
IPPB’s Digital Savings Account can be opened through the IPPB Mobile App. This app can be downloaded from the play store; it is 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.
Features and Benefits of IPPB Digital Savings Account
- Banking at your convenience
- Instant self on-boarding
- No monthly average balance required to be maintained
- The account can be opened with zero balance
- Free monthly e-statement
- Easy bill payments and recharges
- Some Information about IPPB Digital Savings Account:
- Individuals must be above 18 years of age.
- Complete the KYC formalities within 12 months. Otherwise, the account will be closed after 12 months of account opening.
- KYC formalities can be done by visiting any of the access points or with the help of the GDS/Postman, after which the Digital Savings Account will be upgraded to a Regular Savings Account.
- A maximum yearly cumulative deposit of Rs. 2 lakhs is allowed in the account.
- The Digital Savings account can be linked to a POSA (Post Office Savings Account) after completion of KYC within 12 months and can be accessed through IPPB Mobile Application.
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Interest Rate on IPPB Digital Savings Account
- 2.50% per annum.
- In this case, Interest is payable quarterly.
IPPB Regular Savings Account
The Regular Savings Account can be opened at the bank’s access points and on your doorstep. This account can be used to keep funds secure, withdraw cash, deposit money, and perform easy remittances, besides a host of other benefits. In addition, interest can be earned on the money kept in this account and the cash withdrawals allowed in this account are unlimited.
Features and Benefits of IPPB Basic Savings Account
- Banking at your convenience
- Instant and paperless account opening using Aadhaar as per the applicable rules
- Easy and convenient Non-eKYC account opening
- No monthly average balance required to be maintained
- The account can be opened with zero balance
- Free monthly e-statement
- Mini statement through SMS
- Simplified banking services through QR card
- Instant fund transfer through IMPS
- Easy bill payment and recharges
- Can be linked to POSA (Post Office Savings Account)
- What makes us different
- Free account opening at your doorstep
- Assisted services through the GDS, as and when required
- Availability of funds at your doorstep, upon request
- Bill payment facility at your doorstep
- Simple and secure banking with QR card
- Multilingual customer support
- No commitment of minimum balance
- Nominal charges
- Day end balance above Rs. 2 lakh can be swept into linked POSA (Post Office Savings Account).
- Access to our growing merchant network
- Unlimited cash deposits and withdrawals
Interest Rate on IPPB Regular Savings Account
- Balance up to INR 1 Lakh – 2.50% per annum.
- Balances above INR 1 Lakh & up to INR 2 Lakh – 2.75% per annum.
- In this case, Interest is payable quarterly.
IPPB Customer Care
IPPB Customer Care Contact Number | IPPB Toll Free Number
- 155299
IPPB Helpline Email ID
IPPB Address for Complaint
- India Post Payments Bank Ltd., Corporate Office, 2nd Floor, Speed Post Centre, Bhai Veer Singh Marg, Market Road, New Delhi-110001.
IPPB KYC Point Near Me
- To locate the nearest IPPB KYC Point, at first click the link below.
- Then, Choose By Address, /By Pincode, or By Current Location option as per your convenience.
- Then Fill the Search box with appropriate text and click the ‘Submit’ button.
- After that, the nearest IPPB KYC Point near you will be shown to you.
Download the India Post Payment Bank (IPPB) Application by clicking on this link
We hope that you will like this post. If you have any doubts or queries, please let us know in the comment box or email us at [email protected].
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