IPPB has informed all the concerned that charges of on Cash Deposit & Cash Withdrawal transactions as mentioned below will be effective from 01 January, 2022 at the below mentioned rates.
New Delhi: Customers of India Post Payments Bank (IPPB) are in for some sad news starting next month. Account holders of this bank will have to pay a charge for withdrawing and depositing cash amounting to Rs 10,000. The new rule will come into effect from January 1.
There are three types of savings accounts for India Post Payments Bank customers: (a)Basic Savings Account, (b) Savings (other than Basic SA) & Current Accounts, and (c) Savings (other than Basic SA) & Current Accounts.
IPPB has informed all the concerned that charges of on Cash Deposit & Cash Withdrawal transactions as mentioned below will be effective from 01 January, 2022 at the below mentioned rates.
Check out the new rate/fee table on Cash Transaction Charges
| Account Type | Transaction Type | Free Limit | Charges |
| Basic Savings Account | Cash Withdrawal | Free, up to 4 transactions per month | Post free limit, 0.50% of the value subject to minimum Rs. 25 per transaction |
| Basic Savings Account | Cash Deposits | Free | N A |
| Savings (other than Basic SA) & Current Accounts | Cash Withdrawal | Free, up to Rs. 25,000 per month. | Post free limit, 0.50% of the value subject to minimum Rs. 25 per transaction |
| Savings (other than Basic SA) & Current Accounts | Cash Deposits | Free, up to Rs. 10,000 per month. | Post free limit, 0.50% of the value subject to minimum Rs. 25 per transaction |
The above prices are exclusive of GST/ CESS which will be levied at the applicable rates, said IPPB.
