India Post Payments Bank Scheme...Positive Move!!
The India Post Payments Bank (IPPB) has been recently incorporated as a Public Limited Company under the Department of Posts. IPPB will offer demand deposits such as savings and current accounts up to a balance of Rs 1 Lac, digitally modified payments and remittance services of all kinds between entities and individuals and also offer access to third-party financial services such as insurance, mutual funds, pension, credit products, and more. IPPB has launched on January 30th,2017 in Ranchi and Raipur with the objective of being present in all areas of India by the year. READ MORE
Great Philosophy of IPPB’s!!
Here are the 3 features central to IPPB’s operating philosophy:
Banking Services for Everybody!!
IPPB offers 3 distinct accounts, tailored to suit the demands and needs of people everywhere:
Here’s What Payments Banks Can & Cannot Do!!
A bank or credit union usually gives you a debit card when you open a checking account. First, Compare the services and fee amount at some banks and credit unions. Go to the website or visit in person. Find out what the fee is if you:
Plan Behind Three Tiered Structure!!
Interest on deposits in IIPB has a three-tiered structure, which depends on the quarterly average balance (QAB) in an account. Interest rates have been secure as 4.5% if the quarterly average balance is up to rupees 25,000, 5% if it is between rupees 25,000 and 50,000, and 5.5% if above 50,000. Besides, it is paid out quarterly as opposed to per annum.
Most Attractive key Features of IPPB!!