Digital Savings Bank Account Account can be opened by any person above 18 years of age who has Aadhaar and PAN card.
If you have opened a Savings Account in India Post Payment Bank (IPPB), then this news is important for you. As such, IPPB has introduced Digital Savings Account closure charges. This charge will be Rs 150 plus GST. The new rule will come into effect from 5 March 2022. According to IPPB, this charge will be applicable only if the digital savings account is closed after one year due to non-KYC updation. At the same time, there is no charge for closing the account. Let us tell you that India Post Payments Bank is a division of India Post, which is owned by the Department of Posts.
Let us tell you that India Post Payments Bank has reduced interest rates on savings account with effect from February 1, 2022. IPPB has reduced the interest rate on savings accounts by up to 0.25 percent. The current interest rate on a balance of Rs 1 lakh in a savings account is 2.50 per cent per annum. But now it has come down to 2.25 percent.
The rule will be applicable from March 5
According to the Economic Times report, IPPB said that everyone is informed that India Post Payments Bank has introduced Digital Savings Bank Account Closure Charges. This charge will be Rs 150 + GST and will be applicable from 5th March 2022. Charges will be applicable only if the Digital Savings Bank (DGSB) account is closed at the end of the period of one year due to non-updation of KYC.
According to the India Post Payments Bank website, please upgrade your Digital Savings Account to Regular Savings Account within 1 year by visiting any IPPB Access Point to avail banking services without any interruption.
Digital savings bank account
Digital Savings Bank Account Account can be opened by any person above 18 years of age who has Aadhaar and PAN card. There is no need to maintain monthly average balance and the account can be opened with zero balance. The interest rate on the account is 2.25 percent from February 1, 2022.
Keep these things in mind
>> The account holder has to complete the KYC process within 12 months.
>> Digital Savings Account will be upgraded to Regular Savings Account after completion of KYC formalities.
>> In this you can deposit maximum 2 lakh rupees.
>> Account will be closed if KYC is not completed within 12 months of account opening. >> After completing the KYC within 12 months, the digital savings account can be linked with the Post Office Savings Account (POSA).
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