THIS Bank will charge for depositing, withdrawing more than Rs 10,000 from January 1 --Check new rates here

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.

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.