Digital Savings Account - IPPB

Digital Savings Account

For the people who are tech savvy and comfortable with technology, IPPB’s Digital Savings Account is the best way to onboard yourself through the IPPB Mobile App. This app can be downloaded from the play store on your Android phone. Anyone above the age of 18 years, having Aadhaar and PAN card, can open this account. The account can be opened instantly from the comfort of your home, which means banking anytime, anywhere.

Key Account Features and Benefits

• Banking at your convenience
• Instant self on-boarding
• Interest rate of 4% p.a. on EOD daily balances, paid quarterly
• No monthly average balance required to be maintained
• The account can be opened with zero balance
• Free quarterly account statement
• Simple and instant fund transfer through IMPS
• Easy bill payments and recharges

What you need to open a Digital Savings Account

• Individuals must be above 18 years of age
• Complete the KYC formalities within 12 months
• KYC formalities can be done by visiting any of the access points or with the help of the GDS/Postman, after which the Digital Savings Account will be upgraded to a Regular Savings Account
• A maximum yearly cumulative deposit of Rs. 2 lakhs is allowed in the account
• The account is subject to closure if the KYC is not completed within 12 months of account opening
• The Digital Savings account can be linked to a POSA (Post Office Savings Account) after completion of KYC within 12 months

What makes us different

• Multilingual customer support
• No commitment of minimum balance
• Nominal charges

Rates

Interest rates	Frequency of payout
4.00% p.a	Quarterly