Some of the most important things related to INDIA POST PAYMENTS BANK

By | July 23, 2019

Some of the most important things related to INDIA POST PAYMENTS BANK

In India, Prime Minister Narendra Modi launched India Post Payments Bank (IPBB) in September 2018. This service has been started by the government to make banking and accessible in the country. Its main objective is to promote banking facilities in the remote areas of the country. Apart from this, people can easily access banking. This service is to be run using around 1.55 lakh branches of the country. Alone from this, please let us know that it has to be run through about 650 chapters of the country and 3,250 access points. This means that you will get the benefit of this facility as an extensive network in the country.

It is believed that the government has a big plan to add all the post offices of this country to this service by the end of this year. However, one thing here is also to note that this service is not going to get you fancy banking. However, its primary purpose is to open the account without any further division of the bank account quickly, so that you can do it through post offices.

In the last few days, this service has attracted people on a large scale through some of their unique offers, and it can be said that this service has been the reason for much discussion. Let’s take a look at its most significant five factors, due to which this service is going to be widely seen across the country.

5 Significant Facts of India Post Payments Bank

If you discuss the most notable five facts about this service, which is why users are going to like it, then here we are going to tell you about them today. Let us show you that this service is beneficial for you because of being close to you in your area. Let’s now take a look, that’s what you get in it, and how this service will give you a profit in the coming future.

4% interest rate

If you use the India Post Payments Bank’s Savings Account, then you tell you that you will get a 4 per cent interest rate. Apart from this, you can deposit up to Rs 1 lakh in it. Apart from this, small industrialists can also open their accounts in this bank. Alone from this, let us know that in India Post Payments Bank (IPBB) you are not getting a credit card like other banks. However, you will get the benefit of other partnerships with this service.

17 million postal savings accounts will now be created for IPBB accounts

Under this initiative, approximately 17 million postal savings accounts of the country are now being linked to IPBB accounts. This means that those who have old accounts are also going to take advantage of this new service without any other effort.

IPBB service started in 2017

If we discuss the history of this service, this service is not new in the country this year. The service was introduced on January 30, 2017, and firstly its operations in Raipur and Ranchi.

Advantages of Saving and Current Accounts

In this service, there are no savings accounts only, through this service, you can also use services like Money Transfer, Direct Benefit Transfer, Bill and Utility Payments, Enterprise and Merchant Payments, besides the Current Account. In addition to this, you will get counter service. You will also get services like micro-ATM, mobile banking app, SMS and IVR.

IPBB service is going to grow in the future

Looking at this service, it can be estimated that in the future, it is going to give you new offers, and in a big way across the country, its domination will be visible in a short time. However, we will have to wait for this service to be fully dispersed across the country.

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