Basic Savings Account - India Post Payments Bank
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|
|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%
|Account Statement||Free Monthly e-statement**|
|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|
- *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.