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Digital Savings Account

    Important Notice: Opening of new digital savings account has been suspended w.e.f 18th May 2023 till further notice.

 

For the people who are tech savvy and comfortable with technology, IPPB’s Digital Savings Account is the best way to onboard yourself through the IPPB Mobile App. This app can be downloaded from the play store on your Android phone and also available on app store for iPhone users. Anyone above the age of 18 years, having Aadhaar and PAN card, can open this account. The account can be opened instantly from the comfort of your home, which means banking anytime, anywhere.

Key Account Features and Benefits

  • Banking at your convenience
  • Instant self on-boarding
  • 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
  • Easy bill payments and recharges

 

Key Points to remember while opening a Digital Savings Account:

  • Individuals must be above 18 years of age
  • Complete the KYC formalities within 12 months
  • KYC formalities can be done by visiting any of the access points or with the help of the GDS/Postman, after which the Digital Savings Account will be upgraded to a Regular Savings Account
  • A maximum yearly cumulative deposit of Rs. 1,20,000 is allowed in the account
  • The account is subject to closure if the KYC is not completed within 12 months of account opening
  • The Digital Savings account can be linked to a POSA (Post Office Savings Account) after completion of KYC within 12 months
  • Make Bill Payments, in store merchant Payments and payment towards eligible Post Office Savings Schemes
  • Overall transaction value cap on monthly basis
  • Not having Aadhar based OTP account with any bank nor shall be opened after opening digital account with IPPB

What makes us different

  • Multilingual customer support
  • No commitment of minimum balance
  • Nominal charges

 

Rates

Annual Interest rates Frequency of payout

2.00%

(Applicable from 1st of June 2022)

Quarterly


Click here to see the detailed Schedule of Charges.


Download our Mobile app to open a Digital Savings Account with IPPB.

 

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