Basic Savings Account
This savings account has all the features and benefits offered by the Regular Savings Account (except that it allows only four cash withdrawals in a month). The aim of the basic savings account is to provide primary banking services at a very nominal charge.
Key Account Features and Benefits
- Banking at your convenience
- Instant and paperless account opening
- 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
- Mini statement through SMS
- Simplified banking services through QR card
- Instant fund transfer through IMPS
- Easy bill payment and recharges
- Can be linked to a POSA (Post Office Savings Account)
What makes us different
- Free account opening at your doorstep
- Assisted services through the GDS, as and when required
- Availability of funds at your doorstep, upon request
- Bill payment facility at your doorstep
- Simple and secure banking with QR card
- Multilingual customer support
- No commitment of minimum balance
- Nominal charges
- Day end balance above Rs. 1 lakh can be swept out to a linked POSA (Post Office Savings Account)
- Access to our growing merchant network through IPPB QR card
- Four cash withdrawals allowed in a month
Interest rates Frequency of payout
4.0% per annum Quarterly
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