Current Account - India Post Payments Bank
- Personal Banking
- Digital Life certificate
- Domestic Money Transfer
- IPPB Apps
- Life Insurance
- General Insurance
- Social Security Schemes
FAQs - Current Account
Q. What benefits will I receive from my current account?
A. You can avail yourself of services such as easy bill payments, Doorstep Banking services, instant money transfer through IMPS and other remittance services. In addition, you will also get the benefit of QR card, phone banking, free quarterly email statements, SMS alerts.
Q. Can I have more than one current account?
A. No. You are allowed to hold only one account under a particular product category.
Q. Do I need to submit physical documents to open a current account?
A. We are promoting paperless banking. You would not be required to carry any physical documents to open a current account. However, physical documents may be required in some cases. IPPB will soon provide facilities for non-individual current accounts also.
Q. What documents are required to open a current account?
A. Your Aadhaar number, PAN card or Form 60 and biometric validation (fingerprint verification) details would suffice to open a current account at IPPB.
Q. Do I need an initial minimum deposit to open this account?
A. No minimum deposit is required to open an IPPB current account.
Q. Is there a maximum balance limit for this account?
A. You can only hold a maximum of Rs. 2 lakh in your current account.
Q. Will I get a debit card with the current account?
A. Yes, RuPay Virtual Debit card is available in this account and this card can be generated using IPPB mobile application. Please visit (Virtual Debit Card section) for more information.
Q. Do I need to have a minimum monthly average balance (MAB) to be maintained in my current account ?
A. No, You need not to maintain a nominal monthly average balance (MAB)
Q. What is the QR card offered by IPPB?
A. The QR card is the digital form of a QR code or a barcode that is used to identify the bank account holder.
Q. Can I use the IPPB QR card in an ATM?
A. No. You cannot use the QR card in an ATM since it is not a debit card.
Q. What if I lose my QR card?
A. There is no financial loss or risk associated with the loss or theft of your QR card. You can contact us on 155299 or visit our nearest bank branch office to re-apply for the QR card.
Q. Do I get any interest on my current account?
A. No. The current account does not offer interest on the balance in the account.
Q. Is the nomination facility available for a current account?
A. Yes. The nomination facility is available for a current account.
Q. Can I request for a chequebook?
A. No. Currently, we do not provide this facility for the current Account.
Q. Can I request for a demand draft?
A. No. Currently, we do not provide demand draft facility for current accounts.
Q. What are the charges for Doorstep Banking services?
A. You can use the Doorstep Banking services at nominal charges of Rs. 20 excluding GST.