Basic Savings Account - India Post Payments Bank
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Service Charges / Fees for Basic Savings Account
Eligibility | Anybody above 10 years with KYC |
Initial Minimum Deposit | NIL |
Minimum Account Balance | NIL |
Maximum End of Day Balance | INR 2,00,000 |
Nomination Facility | Available |
Linkage of POSA Account* | YES |
Monthly Average Balance (MAB) | NIL |
Non-maintenance charges on MAB | NA |
Annual Interest Rate | Balance up to INR 1 Lakh - 2.00% Balances above INR 1 Lakh & up to INR 2 Lakh – 2.25% |
Interest Payment | Quarterly |
SMS Alerts | Free |
Account Statement | Free Monthly e-statement** |
QR Card | FREE |
Setting of Standing Instruction Charges | Free |
Account Closure Charges | NIL |
Balance certificate per Instance | INR 50 |
Card/ KIT returned due to wrong address | INR 50 |
Bill Payments/ Re-charge | Free |
Cash deposit charges | Free |
Cash withdrawal charges | Free, up to 4 transactions per month. Post free limit, Charges 0.50% of the transaction value subject to minimum Rs. 25 per transaction |
Virtual Debit Card Issuance | Free |
Virtual Debit Card Reissuance | NIL |
Notes :
- *POSA (Post Office Savings Account)-In case customer have linked POSA account, amount above 2 lakh at the end of the day will be transferred to Linked POSA account.
- **If customer updated his/her valid email ID. On request physical statement @ INR 50+GST upto 1 year and above the 1 year Rs. 100 + GST.
- The above charges are subject to change. IPPB reserves the right to change the above charges as per its discretion.
- For any services availed at doorstep, doorstep banking charges will be applicable.
- All charges are exclusive of GST.