1. Summary
  2. IPPB
  3. Importance of Indian Post Offices
  4. ​​Salient features


India Post Payments Bank may be a specialized division of Indian Post that is beneath the jurisdiction of the Department of Post a department beneath the Ministry of Communications of the govt. of India. Opened in 2018, the bank had no inheritable regarding 4.0 large integer customers by December 2020. Let’s see regarding the IPPB below in short


India Post plays a significant role in India’s socio-economic development. It’s the government’s agent for providing walk delivery of presidency schemes to the poor. These embrace providing banking services at the doorstep and also the direct transfer of advantages through the Republic of India Post Payments Bank or IPPB

India Post Payments Bank (IPPB) has revised its sill banking charges, effective on August 2021, and can charge Rs20 and applicable GST for every request per client. As of now, there’s no charge on sill banking (DSB).

The Importance of Indian Post Offices

  • Communication and Business Services: within the early years, once communication facilities were few and undeveloped, India Post provided Indians with pioneering communication services delivering mail, telegrams, and parcels.
  • Generations of Indians are accustomed to the standard card or the interior letter.
  • Today, a bunch of premium services like Speed Post, specific Parcel, acknowledgment Post, and e-Post are on provide. Several services play a vital role within the business world.
  • The immense infrastructure of India Post is additionally getting used for custom business solutions like specific Parcel, Business Parcel, Business Post, supplying Post, and Bill Mail.
  • Mobilizing Savings: Mobilizing even the littlest of savings from the foremost vulnerable sections of society and channelizing them into safe and engaging investment choices is a very important performance of India Post.
  • Schemes like a bank account, continual Deposits, Time Deposits, Monthly financial gain Schemes, PPF, NSC, Kisan Vikas Patra, Senior voters Savings Schemes and Sukhanya Samriddhi facilitate money inclusion.
  • India Post Payments Bank: Banking services to suit different client desires are currently out there through accounts.
  • Customers of the bank will use the Domestic payment Services to transfer funds.
  • Doorstep Banking is obtainable on services like depositing and retreating money, balance inquiry, and transfer of funds from Aadhaar to Aadhaar accounts.
  • Direct profit Transfer facilities are often accustomed get subsidies and direct edges from Government schemes to the bank accounts of the meant person/s at once or outflow.
  • Insurance: India Post conjointly performs the important perform of providing insurance through its communicating life assurance and Rural communicating life assurance Schemes. The premium applicable is at the bottom of the market these days.
  • Army communicating Service: This extremely sponsored mail and package perform by Indian Post is for the militia of India. Military mail is shipped between duty stations in India or abroad and is additionally out there to military personnel in combat zones. In several cases the service is free!
  • Promoting Philately: India Post promotes stamp collection by publication a stamp collection magazine, supporting a stamp collection repository, and supplying ceremony or special issue postage stamps with first-day covers.
  • Money Transfer, Forex, and different necessary Functions: With the economic process, Indian Post conjointly provides necessary money services like cash payment and Forex Services. As usual, the services are fast, reliable, safe, and reasonable.

Salient Features


  1. A single adult
  2. Two adults solely (Joint A or Joint B)
  3. A guardian on behalf of a minor
  4. A guardian on behalf of a person of unsound mind
  5. A minor higher than ten years in his name

 (b)Deposit and Withdrawal: – All deposits/ withdrawals shall be in whole rupees solely.

  • Minimum deposit amount: – Rs. five hundred (subsequent deposit not but ten rupees)
  • Minimum withdrawal amount: – Rs. 50
  • (ii)Maximum deposit: – No most limit
  • (iii)No withdrawal is permissible that results in reducing of minimum balance of Rs. 500
  • In case account balance not raised to Rs. 500 at the top of monetary year Rs. 100 are subtracted as Account Maintenance Fee and if account balance became null the account shall stand mechanically closed


  • Interest are calculated on the idea of minimum balance between a tenth of the month and finish of the month and allowed in whole rupees solely
  • No interest is allowed in a very month if the balance between the tenth and end of the world of the month falls below Rs. 500
  • Interest shall be attributable in an account at the top of every fiscal year at the rate of interest prescribed by the Ministry of Finance
  • (iv)At the time of closure of an account, interest is paid up to the preceding month during which the account is closed
  • (iv)u/s 80TTA of the revenue enhancement Act, from all Savings Bank Accounts, interest up to Rs. 10,000 earned  in a very fiscal year is exempted from dutiable financial gain

(d)Silent Account

  1. If no deposit/withdrawal takes place in an account throughout continuous 3 money years, the account shall be treated as silent/dormant
  2. Revival of such account are often done by submitting an application alongside contemporary KYC documents and bankbook at involved Post workplace

(e)Additional Facilities out there on PO bank account

To avail below facilities on your PO bank account, kindly transfer and submit various types at the involved Post workplace

  • Cheque book
  • ATM Card
  • Banking/mobile banking
  • Aadhaar Seeding
  • Atal Pension Yojana (APY)
  • Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • Pradhan Mantri Jeevan Jeevan Jyoti Bima Yojana (PMJJBY)