Indian Post Payments Bank now offers you a Mobile Banking Application at your doorstep with maximum benefits for the account holder. IPPB was launched by our Prime Minister Narendra Modi on September 1,2018 as an excellent step towards the financial inclusion of the remote areas of India.
By using this application, People can access maximum services related to banking and they can also pay their utility bills at their finger prints. If you are having a smart phone then its more than enough for you to use this application.
There are many types of services provided through IPPB some of them are: Regular Savings account, Current account, Payment of utility bills, Enterprise and merchant payments, Pension, Mutual Funds, Foreign Exchange and so on.
Especially Money transfer(RTGS,IMPS,NEFT) can also be done through this service and it has no ceiling limit for cash deposits and withdrawal. These services can be availed any citizen through Post office counters, ATMs,Mobile banking application, Text messages or through phone calls.
Ok guys now we are going to see about Digital Savings Account which will be easily created using your android device. For opening this account you need not have to step into the IPPB and it can be done at your doorstep.
Steps for opening a Digital Account:
(1) Every citizen can opt this digital savings account by fulfilling the following criteria:
* Citizen should be above the age of 18 years.
* Must have Aadhar card and PAN card.
* KYC formalities should have to be completed within 12 months of opening account and you can convert this digital account into regular savings account by visiting any of the access points with the help of the postman.
(2) If you are eligible and satisfies all the above requirements then there will be no delay in opening your account.
(3) Download and Install the IPPB Mobile Banking application on your Android device.
(4) Enter your basic credentials, PAN number,Aadhar card number and the phone number with which you want to link with your account.
(5) Click on the check box if you have an Aadhar based OTP with another bank account.
(6) Once you click on the Sign up button ,an OTP will be automatically sent to the registered mobile number for authentication purpose.
(7) Finally you have to create an MPIN for completing your signup process.
(8)Now you are provided with all the services opted for digital savings account.
Benefits of this Banking app:
* IPPB Mobile banking app provides banking services for you at any where, and at any time.
* Digital Savings account can be opened using this application at your convenience.
* To get full benefits of banking you can later convert this Digital savings account to Regular savings account.
* Interest rate is 4% and it is calculated at the end of every day daily basis and it is paid quarterly.
* Accounts can be opened with zero balance.
* In IPPB digital banking service there is no need to maintain monthly average balance.
* In this digital account you can make an yearly deposit up-to Rs.2 lakh as a cumulative deposit.
* You can make utility bill payments, Mobile recharges, DTH recharges and many more.
* Customers can avail free quarterly account statement.
* Transferring funds has now made simple through IMPS and hence it will be easy for the account holders.
Make use of this application and avail banking services at your convenience.