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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**
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
Virtual Debit Card Annual Maintenance NIL
Notes :
  1. *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. Cumulative transaction limit for sweep-in is ₹50000/- for the first 3 days post successful linkage.
  2. **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.
  3. The above charges are subject to change. IPPB reserves the right to change the above charges as per its discretion.
  4. For any services availed at doorstep, doorstep banking charges will be applicable.
  5. All charges are exclusive of GST.