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.


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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.  


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