India Post Payments Bank: Aapka Bank Aapke Dwaar
Prime Minister Narendra Modi on 1st September 2018 launched India Post Payments Bank (IPPB). IPPB aims to take banking to the doorstep of every common people through the vast network of post offices in the country.
Initially, IPPB services are available at 650 branches and 3,250 access points and will be soon available to all 1.55 lakh post offices by December 2018.
Motto / Tagline of IPPB is: Aapka Bank Aapke Dwaar
10 Important facts about India Post Payments Bank (IPPB)
1. India Post Payments Bank has been set up under the Department of Posts, Ministry of Communication, with 100% equity owned by Government of India.
2. IPPB started its operations on 30th January, 2017 by opening two pilot branches, one at Raipur and the other at Ranchi.
3. India Post Payments Bank will offer a range of products such as savings and current accounts, money transfer, direct benefit transfers (DBT), bill and utility payments, and enterprise and merchant payments.
4. India Post Payments Bank accounts can be opened instantly through their respective mobile apps just by providing details like Aadhar number with KYC verification.
5. India Post Payments Bank will offer 4 per cent interest rate in savings accounts.
6. IPPB doesn’t charge any fee for withdrawals made from its own ATM or any Punjab National Bank ATM.
7. Doorstep banking service is one of the most distinct features of the IPPB, making it very accessible. The IPPB’s doorstep banking facility will offer the following services:
- a. Account opening;
- b. Cash deposits/withdrawals;
- c. Money transfers;
- d. Recharge and bill payments;
- e. Third-party services like insurance, loans and investments; and
- f. other account-related services like updating PAN/nomination details, requesting account statement, and issuing standing instructions.
IPPB Savings Accounts
8. IPPB offers following savings account: Regular Savings Account, Digital Savings Account and Basic Savings Account
9. India Post Payments Bank will offer forex services also at charges lower than banks.
10. Unlike other banks, no need to maintain a minimum quarterly average balance in case of IPPB accounts. So, no levy of charge if one fails to hold minimum balance in the account.
IPPB QR Card
11. QR card is another important service IPPB is offering. IPPB QR card redefines the way banking is done. With the help of a QR card, you can access your bank account and make transactions without the hassle of remembering your account number. All transactions will be authenticated via bio-metric verification.
12. IPPB is offering free debit card with a very minimum annual maintenance fee of Rs 100 from the second year.
India Post Payments Bank (IPPB) is expected to reach customers mainly through their mobile phones rather than traditional bank branches.
The IPPB has teamed up with other financial services providers like PNB and Bajaj Allianz Life Insurance for third-party products like loans and group term insurance.
IPPB helpline / Toll free Number
Here, we are sharing contact details of IPPB if you people want to open a new account or just want to know more about IPPB products and services:
IPPB helpline or toll free number: 155299 or 1800-180-7980
Email: [email protected]
To Visit nearest Branch / Access Point of IPPB: Click here