What is IPPB? IPPB Full form, Types of IPPB Account

Hi friends, hope you are doing well, today we will talk about What is IPPB, IPPB Full form, Types of IPPB Account, Indian Post Payment Bank, What is IPPB Account, what is ippb account in post office.

Even today there are many people who due to some reasons are not able to take advantage of the facility of the bank. And in view of these facilities, the government has launched the scheme of IPPB. If you are wondering what is this IPPB scheme, then today we are going to give you complete information about what is IPPB, what is the full form of IPPB, through this post. You will also know IPPB Meaning today through this post.

IPPB i.e. Indian Post Payment Bank is such a bank whose main objective is to provide the service of the bank to the people from the cities to the rural areas in India. Under this, you can get many facilities like mobile banking, phone banking, QR code banking, 24×7 money transfer, cash deposit, insurance, recharge and bill, account opening from the comfort of your home.

With this scheme, those people will also be able to take advantage of all kinds of facilities of the bank who were deprived of its benefits till now. Will explain Hope you like all our posts. And in the same way, keep liking all the upcoming posts on our blog. To know about what is IPPB Full Form, read this post from beginning to end. Then you will get complete information about it.

What is IPPB?

The main function of IPPB is to provide the service of the bank to the people from door to door. It has been launched across the country from 1st September 2018. Under this, you will get many facilities like 24×7 money transfer, cash deposit, insurance, recharge & bill, account opening.

In the IPPB scheme, the 12 digit Aadhar card number of your Aadhar card will be your account number, which you can use in your IPPB account. Even if your Aadhar card is not linked with any bank, you can send and receive payment in it.

Full Form IPPB

IPPB Full Form is Indian Post Payment Bank.

Types of IPPB Account

In this, three types of accounts can be opened. Indian Post Payment Bank is currently providing the facility of savings accounts. And further it is also planned to provide the facility of current account:

Regular Saving Account

This account is the best savings account of Indian Post Payment Bank. This account can also be opened with zero balance, this account gets the most facilities. The bank charges you Rs 100 for maintaining the account for a year. You can also link this account with the post office savings account, in which up to a maximum of 1 lakh can be deposited, and more than 1 lakh is transferred to the post office savings account.

Basic Savings Account

This is also a kind of savings account. But its account holder gets less facilities than a successful account. A person above 10 years of age or a minor can open his Basic Savings Account (Sugam Account) with normal KYC documents.

Digital Savings Account

Anyone above the age of 18 years can open a digital savings account, for this it is necessary to have KYC. There is no charge for making transactions in this account like Basic Savings Account.

Interest Rate of IPPB

A maximum interest of 5.5 percent can be earned on the amount deposited in IPPB. But up to 50 thousand rupees should be deposited in your account. If less amount is deposited than this then interest will also be less. What is the interest rate of IPPB, know further:

  • 50 thousand to 1 lakh rupees : If you have a deposit of 50 thousand to 1 lakh rupees in your account, then you will be given 5.5 percent interest.
  • 25 thousand to 50 thousand rupees : 5% interest will be provided on the deposit of 25 thousand to 50 thousand rupees in your account.
  • 25 thousand rupees : If you have a deposit of 25 thousand rupees in your account, then you will be provided 4.5 percent interest rate and you will not have to pay any kind of Charges for Cash Withdrawal.

Services of IPPB

IPPB provides some such services to the customers through its services, know about it:

  • IPPB provides the facility of intra bank fund transfer to its customers, in which IPPB provides the facility to transfer money through NEFT and RTGS, the charge of which is Rs 2.5-50. IPPB charges up to Rs 2.5-25 for transferring money to any other bank account through IPPB’s NEFT (National Electronic Fund Transfer) service. And to transfer money from your account through RTGS (Real Time Gross Settlement), 25-50 charges have to be paid.
  • IPPB Services will provide Mobile Banking SMS Banking, Phone Banking and Missed Call Banking and QR Services. Under Payment Services, the customer will be able to pay and recharge his bill.
  • You will also be able to take advantage of Fund Transfer and Direct Benefit Transfer (DBT). The main objective of DBT is how to transfer the subsidy amount provided by the government to the bank account of the consumer.
  • Doorstep Banking is a very big step of Banking Services. It reaches the bank at the doorstep of the customers. With the help of Doorstep Banking, you can get many services only by making some payment like – Cash Withdrawal, Balance Inquiry, Cash Deposit etc.

Advantages of IPPB

Know now some more special things about IPPB and what benefits we get from it, we will know further:

  • By opening a savings account in this bank, you will get more interest than government banks. Indian Post Payment Bank will give up to 5.5 percent interest on savings account.
  • In this, you can open three types of accounts: Regular Savings Account, Basic Savings Bank Deposit Account, Small Savings Account.
  • Customers are not required to maintain any minimum balance in their account. And there will be no fine for this.
  • Funds are transferred in real time using the services of Imps, Neft, Upi, Ussd.
  • You will get all the facility like other banks including mobile banking, SMS banking, phone banking. And you can also open a digital savings account here.

Registration Process in IPPB Mobile Banking

  • Download IPPB App on your phone to activate banking services on the move.
    • IPPB App download for android users, click here.
    • IPPB Mobile Banking app download for IOS users, click here.
  • Open the app and select the language of your choice. India Post Payments Bank online services are available in English, Hindi and various regional languages.
  • After selecting the language, tap on the “Login Now” option.
  • Enter the details like Account Number, Customer ID, Date of Birth and Registered Mobile Number. Tap on the “Register” tab. During the online account opening process, you have already received your account number and customer ID on your mobile number.
  • After this OTP will be sent to your registered mobile number for authentication.
  • Set MPIN.
  • Enter the OTP received and click on “Submit” tab for authentication.
  • This completely completes the IPPB Mobile Banking registration process.

New Customer

  • Download IPPB Mobile App on your phone to activate banking services on the go.
  • Open the IPPB app. Select the language of your choice. IPPB online services are available in English, Hindi and various regional languages.
  • After selecting the language, tap on the option “Open your account now”.
  • Enter your mobile number and PAN number here.
  • Enter your Aadhaar number on the next screen.
  • Specify whether you have an Aadhaar based OTP account with any other bank.
  • After this OTP will be sent to the given mobile number for authentication.
  • Enter the OTP to complete the account opening process.

Services available on IPPB App

IPPB Mobile Banking online services are hosted on a platform that is modern and secure. Through this app you can get following facilities.

  1. You can check your account balance.
  2. Request for your account details.
  3. Request a check book for your current account.
  4. Stop payment on check.
  5. Transfer funds to other India Post Payments Bank accounts.
  6. Transfer money to other bank accounts.
  7. You can pay water, electricity and other utility bills.
  8. Recharge your prepaid mobile and DTH services.
  9. Manage your funds with the linked Post Office Savings Account.
  10. You can open a digital savings account.

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