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 1,00,000|
|Linkage of POSA Account*||YES|
|Monthly Average Balance (MAB)||NIL|
|Non-maintenance charges on MAB||NA|
|Annual Interest Rate||4.00%|
|Account Statement||Quarterly Statement Free (e-statement/ Physical statement**) |
Additional Physical Statement @ INR 50
|QR Card Reissuance||INR 25|
|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|
|Cheque Book on request||NA|
|Cheque Bounce/ Return Charges (Inward)||NA|
|Cheque Bounce/ Return Charges (Outward)||INR 50|
|Bill Payments/ Re-charge||Free|
|Cash deposit charges||Free|
|Cash withdrawal charges||Free (Limited to 4 withdrawal in a month)|
- *POSA (Post Office Savings Account)-In case customer have linked POSA account, amount above 1 lakh at the end of the day will be transferred to Linked POSA account.
- **Physical Statement quarterly free, subject to minimum one customer-induced transaction in that quarter.
- 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.