India Post Payments Bank alert! IPPB to revise banking fees for select services from August 1

New Delhi: India Post Payments Bank (IPPB) has introduced a change in some of its banking charges that will be applicable from August 1, 2021. If you have an account in IPPB, then let us tell you that the bank has updated the charges related to doorstep banking and other services. IPPB was providing doorstep delivery service to its customers for free of cost till now. However, customers will now have to shell a little amount to use the facility helpful in curbing COVID-19 cases.  

According to a notification by IPPB, customers will have to pay Rs 20 plus GST charge from August 1 to use doorstep banking services offered by the bank. Cash transactions (withdrawing or depositing cash) in doorstep banking service will attract 20 per transaction along with GST. 

The bank’s website points out that customers will have to pay 20 plus GST per service from August 1 for remittances, DoP products, and mobile payments (excluding prepaid), among other services. 

However, for services such as passbook update, balance check and last 10 transaction details, nominee update, PAN update, Aadhar seeding, mobile number/email ID update, IPPB won’t charge a single penny from its customers. 

Meanwhile, IPPB has cut the interest rates available on its regular savings account. The bank is paying 2.5 per cent interest on deposits up to Rs 1 lakh on its savings account, down from 2.75 per cent earlier. Also Read: India’s first 5 star hotel atop railway track in Gujarat, Check details in pics

At the same time, 2.75 per cent interest will be available on deposits above Rs 1 lakh and up to Rs 2 lakh. These new interest rates have already come into effect from July 1, 2021. Also Read: IT stocks drive Indian shares higher ahead of Infosys results