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For the people who are tech savvy and comfortable with technology, IPPB’s Digital Savings Account is the best way to onboard yourself through the IPPB Mobile App. This app can be downloaded from the play store on your Android phone and also available on app store for iPhone users. Anyone above the age of 18 years, having Aadhaar and PAN card, can open this account. The account can be opened instantly from the comfort of your home, which means banking anytime, anywhere.
Key Account Features and Benefits
Banking at your convenience
Instant self on-boarding
RuPay Virtual Debit Card for online transactions
No monthly average balance required to be maintained
Key Points to remember while opening a Digital Savings Account:
Individuals must be above 18 years of age
Complete the KYC formalities within 12 months
KYC formalities can be done by visiting any of the access points or with the help of the GDS/Postman, after which the Digital Savings Account will be upgraded to a Regular Savings Account
A maximum yearly cumulative deposit of Rs. 1,20,000 is allowed in the account
The account is subject to closure if the KYC is not completed within 12 months of account opening
The Digital Savings account can be linked to a POSA (Post Office Savings Account) after completion of KYC within 12 months
Make Bill Payments, in store merchant Payments and payment towards eligible Post Office Savings Schemes
Overall transaction value cap on monthly basis
Not having Aadhar based OTP account with any bank nor shall be opened after opening digital account with IPPB
