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Service Charges / Fees for Regular 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% per annum
Balances above INR 1 Lakh & up to INR 2 Lakh – 2.25% per annum
Interest Payment Quarterly (Interest shall be paid in the subsequent month of each quarter)
SMS Alerts@ Actual usage of SMS alerts quarterly, INR 0.25 + GST per SMS
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, up to Rs. 10,000 per month. Post free limit, Charges 0.50% of the transaction value subject to minimum Rs. 25 per transaction
Cash withdrawal charges Free, up to Rs. 25,000 per month. Post free limit, Charges 0.50% of the transaction value subject to minimum Rs. 25 per transaction
Virtual Debit Card Issuance INR 25
Virtual Debit Card Reissuance INR 25
Virtual Debit Card Annual Maintenance INR 25
AePS Cash Withdrawal over non IPPB Network INR 20 per transaction post free limit.***
AePS Cash Deposit over non IPPB Network INR 20 per transaction post free limit.***
AePS Mini Statement over non IPPB Network INR 5 per transaction post free limit.***
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. *** One transaction is free over Non-IPPB Network (Issuer Transactions) per month (including AEPS Cash Deposit, Withdrawal and Mini-Statement): IPPB Customer transacting on other Network.
  4. The above charges are subject to change. IPPB reserves the right to change the above charges as per its discretion.
  5. For any services availed at doorstep, doorstep charges will be applicable.
  6. All charges are exclusive of GST. Virtual Debit Card issuance/reissuance/Maintenance charge is including all Taxes.
  7. @ SMS alerts @ Rs. 0.25 + GST per SMS. Maximum capping of SMS charges per quarter for customers shall be Rs.100 + GST and for Merchants, maximum capping of SMS charges per quarter shall be Rs. 50 + GST effective from 1st October 2024.