India Post Payments Bank Stops Opening Digital Bank Accounts

India Post Payments Bank (IPPB) has announced a temporary halt in the opening of new digital savings accounts through all channels.

Effective from May 18, 2023, individuals will not be able to open this type of account for the time being.

However, existing account holders need not be concerned as they can continue to enjoy the bank’s services.

While the opening of new digital savings accounts is currently on hold, individuals still have the option to open other savings accounts with IPPB.

These include Regular Savings Account, Premium Savings Account, Basic Savings Account, and more.

To open an IPPB digital savings account, simply download the app from the Play Store for Android users or the App Store for iPhone users.

Individuals above 18 years of age with an Aadhaar and PAN card can easily open this account from the comfort of their homes,

providing convenient banking anytime and anywhere.

However, interested individuals may explore other account options until the digital savings account service becomes available again.

IPPB has recently introduced a premium service called the Premium Savings Account.

This account offers numerous benefits and is considered a secure investment option.

Customers can enjoy doorstep banking services at no additional cost. Opening the Premium Savings Account requires a minimal fee of Rs 149.

and no guarantor is needed. Aadhaar card verification is the only requirement for account opening.

One of the key advantages of the Post Office Premium Savings Account is the freedom to deposit and withdraw funds without incurring any charges.

Account holders have the flexibility to manage their finances as per their needs, making it a convenient and cost-effective option.