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Basic Savings Account

This savings account has all the features and benefits offered by the Regular Savings Account (except that it allows only four free customer induced debit transactions in a month). The aim of the basic savings account is to provide primary banking services at a very nominal charge.

Key Account Features and Benefits

  • Banking at your convenience
  • Instant and paperless account opening using Aadhaar as per the applicable rules
  • *Easy and convenient Non-eKYC account opening
  • RuPay Virtual Debit Card for online transactions
  • 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 a POSA (Post Office Savings Account)
  • Send and receive money using BHIM UPI

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 out to a linked POSA (Post Office Savings Account)  
  • Access to our growing merchant network through IPPB QR card


Annual Interest rates Frequency of payout

Balance up to INR 1 Lakh – 2.00%

Balances above INR 1 Lakh & up to INR 2 Lakh – 2.25%

(Application from 1st of June 2022)


Click here to see the detailed Schedule of charges.

Click here to see the detailed remittances/fund transfers charges.

Call 155299 to avail doorstep banking services to open a Basic Savings Account with IPPB.

*Visit your nearest IPPB branch to open Non-eKYC account

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