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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 1,00,000
Nomination Facility Available
Linkage of POSA Account* YES
Monthly Average Balance (MAB) NIL
Non-maintenance charges on MAB NA
Annual Interest Rate 4.00%
Interest Payment Quarterly
SMS Alerts Free
Account Statement Quarterly Statement Free (e-statement/ Physical statement**)
Additional Physical Statement @ INR 50
QR Card FREE
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)
Notes :
  1. *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.
  2. **Physical Statement quarterly free, subject to minimum one customer-induced transaction in that quarter.
  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.