According to the IPPB press release, “This is to inform all concerned that India Post Payments Bank has temporarily stopped the opening of New Digital Savings Account, through all channels w.e.f May 18, 2023. Please Note: existing account holders will not be impacted and will continue to avail existing services,” the IPPB press release stated.
IPPB Digital Savings Account
IPPB’s Digital Savings Account can be downloaded from the Play Store on your Android phone and also available on the 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.
Individuals looking to open an account with IPPB can consider other options for now. Here are some important features and benefits of a regular savings account, as per the website.
Key Account Features and Benefits of Regular savings account
Banking at your convenience
- Instant and paperless account opening using Aadhaar as per the applicable rules
- *Easy and convenient Non-eKYC account opening
- 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
- Mini statement through SMS
- Simplified banking services through QR card
- Instant fund transfer through IMPS
- Easy bill payment and recharges
- Can be linked to POSA (Post Office Savings Account)
- Send and receive money using BHIM UPI
IPPB Premium savings account
Customers who want to subscribe to the Premium account services and use our value-added services can choose the Premium Khata variation of the IPPB Savings Bank Account.
Key Account Features and Benefits:
- Free Doorstep Banking
- Free Cash Deposit and withdrawal
- Average annual balance of Rs. 2000 need to be maintained
- Can be linked to a POSA (Post Office Savings Account)
- *Cashback on Virtual Debit Card induced transactions.
- *Cashback on Electricity Bill Payment.
- *Cashback on issuance of Digital Life Certificate/ Jeevan Pramaan Certificate.