India Post Payments Bank

Benefits of India Post Payments Bank Doorstep Banking 

There are several benefits to doorstep banking. Here are the major benefits of India Post Payments Doorstep Banking: 

1. Easy access to banking services for people in rural areas. 

1. Offers all key banking services to the customers. 

1. There is no fee charged for opening a bank account. 

India Post Payments Bank Doorstep Banking Services 

India Post Payments Doorstep Banking offers a wide variety of banking services to its customers. They are as follows: 

1. Opening a bank account 

1. Cash withdrawal 

1. Cash deposit 

1. Repayment and bill payment 

Fees on India Post Payments Bank Doorstep Banking 

There are minimal fees for banking services offered by the India Post Payments Bank. The fees range from Rs.15 to Rs.25 for every transaction. The maximum limit for doorstep banking is Rs.10,000. The fees for India Post Payments banking services are as listed below: 

How to Access India Post Payments Bank Doorstep Banking 

To avail the doorstep banking services by the India Post Payments Bank, follow the easy steps given below: 

Step 1: Dial 155299 to book an appointment with the India Post Payments Bank representative. 

Step 2: You will receive confirmation through SMS. 

Step 3: Bank representatives will visit your house as scheduled. 

Step 4: Provide your bank account number and mobile number to the bank representative to access banking services. 

Banking Services Offered by India Post Payments Bank 

India Post Payments Bank offers a multitude of banking services. Here is a comprehensive list of banking services provided by India Post Payments Bank. 

Savings Account: India Post Payments Bank provides three types of savings accounts for its customers. They are regular savings accounts, basic savings accounts, and digital savings accounts. 

1. Regular Savings Account: A regular savings account can be opened through doorstep banking or by visiting the bank branch. It allows instant account opening with an interest rate of 4% p.a. paid quarterly on EOD daily balance. It also has an unlimited cash withdrawal and deposit facility. There is also no monthly average balance requirement. 

1. Basic Savings Account: Unlike a regular savings account, a basic savings account only allows 4 cash withdrawals in a month. Except for this major change, other features are the same as those of a regular savings account. 

1. Digital Savings Account: A digital savings account can be opened through the IPPB mobile app. The maximum yearly cumulative deposit allowed is Rs. 2 lakhs. For a digital savings account, the full KYC must be done within one year of account opening, or else the account will be closed. 

Current Account: Current accounts can be opened by individual businesspersons and small merchants. These accounts can be opened through doorstep banking. The current accounts are digital transaction-friendly with a monthly balance requirement of Rs.1,000. The maximum EOD balance is set at Rs.1 lakh. 

Eligibility Criteria and Documents Needed 

To open a savings account, the applicant must be over the age of 18. The major documents required to open a savings account are an Aadhaar, a PAN card, and your Aadhaar-linked mobile number. 

Digital Banking Services by India Post Payments Bank 

Apart from traditional banking facilities, India Post Payments Bank offers a wide range of digital banking services. Through these facilities, customers can check their balance and view account statements from the convenience of their homes. The banking services are as follows: 

1. Phone Banking: Account holders can call the toll-free number 155299 to make any banking-related enquiries. 

1. Mobile Banking: Through mobile banking, you can make account balance queries, check the details of the last five transactions, and view account statements. 

1. SMS Banking: To register for SMS banking, customers can send an SMS “REGISTER” to 7738062873 from the mobile number linked to their bank account. This facility allows customers to check their balance and mini statements. 

1. QR Code: India Post Payments Bank offers a QR Code scanning facility for transactions. You can scan the QR code, authenticate using biometrics, and make transactions easily. 

1. Missed Call Banking: Customers can give missed calls to the designated numbers to make enquiries about their bank accounts. Account holders can dial 8424 046556 for balance enquiry, 8424054994 for registration, and 8424026886 for checking mini statements.