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India Post Payments Bank: Rules instead of opening bank account, what will be the effect on existing customers

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New Delhi: IPPB Digital Savings Account: India Post Payments Bank (IPPB) has banned the opening of new digital savings bank account. There is a temporary moratorium on opening new digital savings accounts. You cannot open a new digital account with any IPPB.

You can open an account in IPPB’s offline savings account. A customer can open an account in Regular Savings Account, Premium Savings Account or Basic Savings Account.

What will be the effect on existing customers?

India Post Payments Bank has temporarily banned new digital savings accounts on May 18, 2023, but existing account holders will not be affected. That is, if you have a digital account of IPPB, then you will get all its services. The bank has banned the opening of new accounts.

IPPB Digital Savings Account

IPPB’s Digital Savings Account App can be downloaded from Google Play Store on Android phones. Any person above 18 years of age having Aadhaar card and PAN card can open an account in it. You can open an account from the comfort of your home. This means you can bank anywhere.

What are the features of IPPB Premium Savings Account?

You have many more options once the digital savings account is banned. There is no risk. It provides doorstep banking facility to the customers without any charges. You can open this account for Rs.149 only.

Also, no guarantor is required to open this account. It can be opened only through Aadhaar card. You can withdraw or deposit any amount in this account. There is no charge of any kind.