New Delhi: India Post Payments Bank (IPPB) customers are in for some sad news from next month. The account holders of this bank will have to pay a fee for withdrawing and depositing an amount of Rs 10,000. The new rule will come into effect from January 1.
There are three types of savings accounts for India Post Payments Bank customers: (a) Basic Savings Account, (b) Savings (other than Basic SA) and Current Accounts, and (c) Savings (Other than Basic SA) and Current Accounts .
IPPB has informed all concerned that the charges on cash deposit and cash withdrawal transactions mentioned below will be effective from January 01, 2022 at the rates mentioned below.
New Rate/Charge on Cash Transaction Fee View Table
account type
Transaction Type
free limit
charge
basic savings account
cash withdrawal
Free, up to 4 transactions per month
Post Free Limit, 0.50% of the value Minimum Rs. 25 per transaction
basic savings account
cash deposit
free
No
Savings (Other than Basic SA) and Current Accounts
cash withdrawal
Free Rs. 25,000 per month.
Post Free Limit, 0.50% of the value Minimum Rs. 25 per transaction
Savings (Other than Basic SA) and Current Accounts
cash deposit
Free Rs. 10,000 per month.
Post Free Limit, 0.50% of the value Minimum Rs. 25 per transaction
IPPB said that the above prices will be applicable at the applicable rates excluding GST/Cess.
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