Of course! Almost every one of us has one or more savings account with the banks! Apart from getting assured about the security and safety of the deposits, the account holders get numbers of benefits including the interests on the deposits.
Recently, India Post officially announced to launch payment bank services with an aim to leverage the network of the postal department as well as ensure financial inclusion for the public.
The network of 1.55 lakhs post offices across the country will get linked to the IPPB- India Post Payment Bank that will certainly augment the reach of Indian Banking sector.
IPPB will offer a wide range of services and products like current and savings account, direct benefit transfers, money transfers, utility and bill payments, enterprise and merchant payments.
IBBP will offer the services and products across multiple channels, i.e., ATM, mobile banking, SMS, and IVR. India Post will use the State-of-the-art technology platform used by the banks.
Steps to Open India Post Payments Bank Account
Opening India Post Payment Bank Account following few steps is easy. Open the web browser on your system with the internet connectivity.
Visit the official site at www.ippbonline.com. Explore the site and collect maximum information about different accounts and services offered by India Post.
You need to download the relevant account opening form.
Fill up the form and submit it to the nearest post office offering banking facilities. You can locate the nearest Post Office providing the services online through the site.
IBBP offers doorstep banking services. You can make the queries and collect the info about the process of opening the India Post Payment Bank account.
Few points to remember
- You can open the account only with cash.
- You need to maintain a minimum balance of Rs 50 if you avail non-cheque facility and for cheque facility, you need to maintain Rs 500 as the minimum balance.