Service Charges / Fees for IPPB Basic Savings Account

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.