India Post Payments Bank

India Post Payments Bank-Steps to open Online Account

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India Post Payments Bank (IPPB) is one of the largest payments banks under the department of post. IPPB offers different services Like a digital saving bank account, current account, third party transfer, loans, insurance, etc. one of the most important attractions of the IPPB is, it is working through the biggest network in India, the India Post. so banking services can be reached in each and every corner of India. especially the rural area.

It is very easy to open an account with India Post Payments Bank. You must be an Indian citizen and your age should be 18 years and above. also your Aadhaar number must be link with your mobile number to open a digital saving account. KYC verification is a must, you have to verify your KYC within one year of opening an account. You need to visit the nearest branch for physical verification of KYC. In this post, we will discuss the steps to open an IPPB Account online.

Also read: India Post Payments Bank Account – IPPB Mobile App

Steps to open IPPB account Online

First, you have to download the IPPB mobile application on your mobile from the google play store. after downloading this application on your mobile, follow the steps given below.

  • Open the IPPB Mobile banking app and click on the link – Open Your Account Now. click DGSBA -Digital Saving Account. it will be the default option.
  • Enter your mobile number and PAN card number. You will receive an OTP on your mobile number. Enter that OTP for mobile number authentication.
  • The next step is to fill up your personal details such as your name, address, educational qualification, nomination, etc. by submitting these details, your account will be opened.
  • You can access this account via the IPPB application. You need to provide your account number, customer ID, date of birth, and mobile number in order to register on the IPPB application.
  • After you register and access your account through your mobile application, you will be prompting with an OTP on your mobile.
  • On successful authentication, you will be asked to create a Mobile PIN which is known as MPIN. Once your MPIN is ready, you can access mobile banking services.

Also read: Top 5 Payments Banks in India

Features of IPPB Digital Saving account

  • A digital saving account can be accessed anywhere anytime using IPPB mobile app.
  • You can manage your account and services like account balance checking, account statement downloading, transfer of funds within the bank, transfer of funds to other bank accounts with the app.
  • You can pay your mobile, broadband, water, gas, etc. bills using the mobile app.
  • easy and fast account opening.
  • Offering an interest rate of 2.75% on the account balance. and it is paying on a quarterly basis.
  • Zero balance account. No need to maintain an average monthly balance for this account.
  • You will get a free monthly e-statement through your email.
  • Multilingual customer support.
  • separate UPI mobile application DAKPAY is available.

Also read: DAKPAY- All you need to know about DakPay

Points to note before opening IPPB Digital Saving Account

  • Your age must be 18 years and above. You have to complete the KYC within 1 year after opening the account.
  • If you don’t complete KYC formalities within 1 year, your account will be subject to closure.
  • ₹2 Lakh is the maximum yearly cumulative deposit possible in this account.
  • You can link your IPPB account to a Post office saving account.

Final Thoughts

India Post Payments Bank is one of the best payments banks in India. IPPB is having a wide network because of its mother India post. IPPB services are available throughout the length and breadth of the country. It provides banking services to rural areas. in this post, we discussed Steps to open an Online IPPB Account, I hope this post will give an idea to open the IPPB account online.

Happy banking

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