Post Office DigiSmart Savings Account opens instantly via the IPPB mobile app with an initial deposit of ₹200 through India Post Payments Bank (IPPB). It is designed for individuals aged 18 and above with Aadhaar and PAN.
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Investment Plans
Generate wealthEarn 1 Cr# in maturity with Zero LTCG tax¶
Double tax savings^On premiums (under 80C) and on maturity (under
10(10D))
A Post Office DigiSmart Savings Account is a fully digital account. It can be opened instantly using the IPPB mobile banking app on iOS or Android. The account allows a maximum end-of-day balance of ₹1,00,000. You can immediately transact within the set limits and upgrade it to a full-service account by completing biometric KYC at any IPPB outlet or post office within 12 months.
Key Features of Post Office DigiSmart Savings Account
Here are the key features of the Post Office DigiSmart Savings Account, useful for everyday banking:
Deposit Limit: A maximum yearly cumulative deposit of ₹2,00,000 is allowed in the Post Office DigiSmart Savings Account.
POSA Integration: After completing KYC within the required timeframe, the Post Office DigiSmart Savings Account can be connected to a Post Office Savings Account to access additional benefits.
Digital Banking: The Post Office DigiSmart Savings Account allows you to use the IPPB mobile banking app to make payments for DoP schemes like PPF and Sukanya Samriddhi. You can also use it for e-commerce and bill payments, with a monthly transaction limit of ₹10,000.
Virtual Debit Card Issuance: A virtual RuPay debit card can be issued for the Post Office DigiSmart Savings Account for a minimal charge of ₹25.
Annual Interest Rate: The Post Office DigiSmart Savings Account offers 2% per annum interest for balances upto ₹1 lakh, with payouts made quarterly in the month following each quarter.
How to Open a Post Office DigiSmart Savings Account?
The DigiSmart Savings Account can be opened either online through the IPPB mobile app or offline by completing biometric KYC within 12 months. Choose your preferred method from the steps below:
Online Method
Download the IPPB Mobile Banking app on your Android or iOS device.
To open an online IPPB or Dismart Savings Account, enter your Aadhaar, PAN, and Aadhaar-linked mobile number.
Authenticate using the OTP sent to your registered mobile number.
Fill in personal details, including address, nominee, mother’s name, and education.
Submit the details and pay ₹149 + GST; the account opens instantly digitally.
Transfer ₹200 or more from any KYC-compliant account to activate the account.
Access the app and use limited services until full KYC is completed.
Offline Method
Visit the nearest IPPB banking outlet or post office, or request doorstep service through a Gramin Dak Sevak (GDS) or postman.
Provide Aadhaar biometric verification and PAN for identity confirmation.
The account will then be upgraded to a Premium Savings Account with full features after completing full KYC at any IPPB banking outlet.
Eligibility to Open a Post Office DigiSmart Savings Account
To open a Post Office DigiSmart Savings Account, you need to meet the following eligibility criteria:
Must be 18 years or older
Must have a valid Aadhaar and PAN card
Mobile number should be linked with Aadhaar.
Must complete biometric KYC within 12 months to keep the account active
Only one digital savings account is allowed across all banks
Key Takeaways
DigiSmart Savings is a fully digital account from IPPB designed to make everyday banking simple and accessible. Once biometric KYC is completed within 12 months, the account is upgraded to a Premium account with wider features and higher transaction limits. However, if biometric KYC is not completed within the stipulated time, the account will be closed with a closure fee of ₹150 + GST.
FAQs
Does the Post Office DigiSmart Savings Account require a minimum balance?
No, the Post Office DigiSmart Savings Account has no minimum balance requirement, so there are no charges for not maintaining a balance.
What minimum end-of-day balance is allowed in the Post Office DigiSmart Savings Account?
The Post Office DigiSmart Savings Account allows a maximum end-of-day balance of ₹1,00,000.
How much interest does the Post Office DigiSmart Savings Account offer?
˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
Past 10 Years' annualised returns as on 01-08-2025
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
Tax benefit is subject to changes in tax laws. Standard T&C Apply
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years’ fund performance data (Fund Data Source: Value Research).
Generate wealth Earn 1 Cr# in maturity with Zero LTCG tax¶
Double tax savings^ On premiums (under 80C) and on maturity (under 10(10D))
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