India Post Payment Bank Fixed Deposit Rates

India Post Payment Bank

India Post Payment Bank has started its operations from 30th  January 2017. It is offering savings bank account facility with the limit of Rs 1 lakh along with digital and third party products like mutual funds, pension funds and more.

India Post Payments bank

 

Banking Account/Services offered by India Post Payment Bank :

A) Regular Savings Account - Safal Account

B) Basic Savings Bank Deposit Account (BSBDA) – Sugam Account and

C) BSBDA Small Account - Saral Account

Common Features of India Post Payment Bank Account Types

  1. 4 Free Free monthly customer induced transactions. Subsequently @ INR 20 per transaction at branch and Customer Service Points. Charge Frequency of such transactions is Monthly.
     

    ATM Related Monthly Transaction and Charges

  1. Free at All India Post and PNB ATM's.
  2. 3 Transactions free at other (not India Post or PNB ) bank's ATMs (Metro) and
  3. 5 Transaction free at other (not India Post or PNB ) bank's ATMs (Non Metro).
  4. In addition to this there is Rs 20 for Financial and Rs 8 Non Financial Transaction at other bank ATM's.
  5. Maximum ATM withdrawal allowed per day by India Post Payment Bank is Rs 25000 and per transaction is Rs 10000.
  6. Maximum cumulative spend allowed by India Post Payment Bank at POS outlets and e-commerce sites per day is Rs 65000.

Account Features of India Post Payment Bank

Eligibility for all three accounts - Anybody 10 years and above with KYC

Minimum account balance to be maintained - NIL

Maximum account balance at India Post Payment Bank - Rs 1,00,000. In addition to this Free ATM card and Mobile alerts are provided

Annual Interest Rate by India Post Payment Bank is 5.5%


Remittances charges applicable irrespective of the type of Savings account in India Post payment Bank
Mode of Outward
Remittance
Transaction sizeCharges (excluding
service tax) at branch
and doorstep banking
Charges (excluding
service tax) for
mobile
banking
NEFTUp to INR 10,000INR 2.5 per transactionNA
NEFTINR 10,000 to INR 1LakhINR 5 per transactionNA
AEPSUpto INR 10,000
(max. limit)
FreeNA
UPIUpto INR 1 Lakh
(max. limit)
NAINR 4 per transaction
*99#Upto INR 5,000
(max. limit)
NAINR 4 per transaction
The charges are subject to any regulatory changes that might be intimated from time to time.


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