Service Charges / Fees for IPPB Merchant Current Account

Service Charges / Fees for IPPB Merchant Current Account

 

 

Eligibility	Individual
Initial Minimum Deposit	NIL
Minimum Account Balance	NIL
Maximum End of Day Balance	INR 1,00,000
Nomination Facility	Available
Linkage of POSA Account*	NO
Monthly Average Balance (MAB)	INR 1,000
Non-maintenance charges on MAB**	INR 100
Annual Interest Rate	0.00%
Interest Payment	NA
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	Within 14 days of Account Opening- NIL, From 15th day of Account Opening till 6 months-INR 250, Post 6 months of Account Opening-NIL
Balance certificate per Instance	INR 50
Card/ KIT returned due to wrong address	INR 50
Cheque Book on request	First 50 Cheque leaves free; subsequently INR 2 per leaf
Cheque Bounce/ Return Charges (Inward)	INR 200
Cheque Bounce/ Return Charges (Outward)	INR 50
Bill Payments/ Re-charge	Free
Cash deposit charges	Free upto INR 15,000/ day****
Cash withdrawal charges	Free
Cheque Stop Payment per Instrument	INR 25
Cheque Stop Payments per Series*****	INR 100
ECS Return Charges (Financial Reason)	INR 25
Cheque Collection (Local Clearing)	Free
Outstation Cheque Collection upto and including INR 5,000 per instrument	INR 25
Outstation Cheque Collection above INR 5,000 & upto INR 10,000 per instrument	INR 50
Outstation Cheque Collection above INR 10,000 & upto INR 1,00,000 per instrument	INR 100
Outstation Cheque Collection above INR 1,00,000 per instrument	INR 200

Notes :

1. *Physical Statement quarterly free, subject to minimum one customer-induced transaction in that quarter.
2. **Non-maintenance charges on Current Account-INR 100 Per Month/Recovered Quarterly.
3. ***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.
4. ****Cash Deposit Charges (Current Account): Above INR 15,000 – INR 1.50 per incremental INR 1000 or part.
5. *****Cheque in series is considered when cheques are in continuous series of 4 or above. Kindly note cheque book facilities are available for Current Account only.
6. The above charges are subject to change. IPPB reserves the right to change the above charges as per its discretion.
7. For any services availed at doorstep, doorstep charges will be applicable.
8. All charges are exclusive of GST