Can I open an IPPB Saving Account with zero balance?

IPPB allows zero-balance opening for most savings accounts, including Regular, Basic, and DigiSmart, offering flexibility and convenience for customers across banking needs.

What is the interest rate on IPPB Savings Accounts?

IPPB offers 2% interest annually on balances up to â¹1 lakh and 2.25% on balances between â¹1â2 lakh, except DigiSmartâs flat 2% rate.

Can I link my IPPB Savings Account to the Post Office Savings Account (POSA)?

Yes, IPPB savings accounts can link to a Post Office Savings Account, offering added benefits and sweep-out facilities for easier combined account management.

Does IPPB provide doorstep banking?

Yes, Doorstep banking is provided with Premium, Regular, Basic, and Aarogya accounts, allowing customers to access essential banking services conveniently from their home.

What happens if DigiSmart KYC is not completed within 12 months?

If DigiSmart KYC is not completed within twelve months, the account will be closed, and closure charges of â¹150 plus GST will apply.

IPPB Saving Account

IPPB saving account options are designed for customers across India. With its extensive postal network, doorstep banking, and easy digital services, IPPB makes banking accessible, secure, and affordable. Whether you need basic features, added benefits, health-focused services, or a fully digital experience, IPPB has an account to suit your financial needs.

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What is an IPPB Saving Account?

An IPPB Saving Account is a deposit account offered by India Post Payments Bank that enables customers to save money securely while enjoying convenient banking services through access points, doorstep banking, and digital platforms. These accounts offer interest on deposits, cash deposit/withdrawal options, fund transfers, QR-based transactions, and integration with Post Office Savings Account (POSA).

Types of IPPB Savings Accounts

IPPB offers five types of savings accounts, each suited for different Post Office customer requirements. Below is the detailed overview:

Premium Savings Account

The Post Office Premium Savings Account is an enhanced version of the IPPB Savings Bank Account designed for customers seeking value-added services. It offers exclusive benefits such as doorstep banking, cashback rewards, and POSA linkage. It is ideal for customers who prefer personalised services along with digital convenience.

Features & Benefits

Feature / Benefit	Details
Doorstep Banking	Free
Cash Deposit & Withdrawal	Free
POSA Linkage	Available
Cashback Benefits	Virtual debit card transactions, electricity bill payments, and Digital Life Certificate
Account Opening Charges	₹149 (New/Existing customers) + GST
Annual Subscription Fee	₹99 + GST
Interest Rate	2.00% p.a. (≤ ₹1 lakh), 2.25% p.a. (₹1–2 lakh)
Interest Payout	Quarterly

Regular Savings Account

Post Office Regular Savings Account is a flexible, zero-balance account that offers unlimited transactions and doorstep service. It suits customers looking for simple banking services with instant digital onboarding. It includes fund transfers, bill payments, a virtual debit card, and POSA linkage.

Features & Benefits

Feature / Benefit	Details
Account Opening	Instant, Aadhaar-based, paperless
Minimum Balance	Not required
Doorstep Banking	Free account opening and cash availability on request
Digital Services	IMPS, BHIM UPI, QR card, bill payments
Virtual Debit Card	RuPay Virtual Debit Card
Statements	Free monthly e-statement
POSA Linkage	Available
Cash Transactions	Unlimited deposits & withdrawals
Interest Rate	2.00% p.a. (≤ ₹1 lakh), 2.25% p.a. (₹1–2 lakh)
Interest Payout	Quarterly

Basic Savings Account

The Post Office Basic Savings Account is designed to offer essential banking services at nominal charges while retaining key features of the Regular Savings Account. The only limitation is that customers can conduct four free customer-induced debit transactions each month. It is suitable for customers who require basic banking functionality.

Features & Benefits

Feature / Benefit	Details
Account Opening	Instant, Aadhaar-based
Minimum Balance	Zero
Free Transactions	4 free debit transactions/month
Virtual Debit Card	RuPay Virtual Debit Card
Digital Services	IMPS, QR card, bill payment
POSA Linkage	Available
Monthly Statement	Free e-statement
Cash Services	Doorstep accessibility
Interest Rate	2.00% p.a. (≤ ₹1 lakh), 2.25% p.a. (₹1–2 lakh)
Interest Payout	Quarterly

Premium Aarogya Savings Account

The Post Office Premium Aarogya Savings Account combines digital banking with healthcare benefits, offering unlimited online doctor consultations and discounts on diagnostics and medicines. It is ideal for customers who want both financial security and wellness services. The account also includes cashbacks, doorstep facilities, and POSA linkage.

Features & Benefits

Feature / Benefit	Details
Doorstep Banking	Free
Cash Deposit & Withdrawal	Free
POSA Linkage	Available
Cashback Benefits	Virtual debit card (first transaction), electricity bill payment (monthly), Digital Life Certificate
Wellness Benefits	Unlimited tele & video consultations, up to 40% discount on diagnostics, up to 15% pharmacy discount
Entry Age	18–70 years
Waiting Periods	All waived
Account Opening Charges	₹149 + GST
Annual Subscription Fee	₹99 + GST
Interest Rate	2.00% p.a. (≤ ₹1 lakh), 2.25% p.a. (₹1–2 lakh)
Interest Payout	Quarterly

DigiSmart Savings Account

Post Office DigiSmart Savings Account is a fully digital account designed for tech-savvy users who prefer mobile-based onboarding. It offers cashbacks, digital payments, monthly e-statements, and the flexibility to upgrade to a Premium Savings Account after KYC completion. The account is accessible through the IPPB Mobile Banking App on Android and iOS.

Features & Benefits

Feature / Benefit	Details
Account Opening	Instant, digital onboarding via mobile app
Eligibility	18+ with Aadhaar, PAN, and Aadhaar-linked mobile number
Cashback Benefits	Electricity bill payments & virtual debit card transactions
KYC Requirement	Must complete verification within 12 months
Upgrade Option	Free upgrade to Premium Savings Account post-KYC
Deposit Limit	Up to ₹2,00,000 yearly cumulative
Account Closure	₹150 + GST if KYC not completed
POSA Linkage	After KYC completion
Monthly Statements	Free e-statements
Virtual Debit Card	Available
Interest Rate	2.00% p.a.
Interest Payout	Quarterly

Key Takeaways

IPPB savings accounts are designed to promote financial inclusion by allowing zero-balance accounts, instant digital onboarding, and multilingual support across the network. With options like Premium, Regular, Basic, Aarogya, and DigiSmart accounts, customers can choose the account type that best suits their financial habits, transaction needs, and lifestyle preferences. Whether you prefer health benefits, unlimited withdrawals, digital-only banking, or cashback rewards, IPPB ensures that every customer has access to secure and affordable financial services.

FAQs

Can I open an IPPB Saving Account with zero balance?

IPPB allows zero-balance opening for most savings accounts, including Regular, Basic, and DigiSmart, offering flexibility and convenience for customers across banking needs.
What is the interest rate on IPPB Savings Accounts?

IPPB offers 2% interest annually on balances up to ₹1 lakh and 2.25% on balances between ₹1–2 lakh, except DigiSmart’s flat 2% rate.
Can I link my IPPB Savings Account to the Post Office Savings Account (POSA)?

Yes, IPPB savings accounts can link to a Post Office Savings Account, offering added benefits and sweep-out facilities for easier combined account management.
Does IPPB provide doorstep banking?

Yes, Doorstep banking is provided with Premium, Regular, Basic, and Aarogya accounts, allowing customers to access essential banking services conveniently from their home.
What happens if DigiSmart KYC is not completed within 12 months?

If DigiSmart KYC is not completed within twelve months, the account will be closed, and closure charges of ₹150 plus GST will apply.

˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Past 10 Years' annualised returns as on 01-11-2025

^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).

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