Apart from the basic savings account, there will be no charge for withdrawal of 25 thousand rupees every month from other savings account and current account. However, after the free limit, at least 25 rupees will have to be charged on every withdrawal.
India Post Payment Bank (IPPB) account holders will have to pay a charge for withdrawing and depositing cash beyond a certain limit. This charge will start levying from January 1, 2022. According to India Post Payments Bank, cash withdrawal from Basic Savings Account will be free four times every month. But after this, at least Rs 25 will have to be paid on every withdrawal. However, there will be no charge for depositing money on Basing Savings Account.
How much will be charged on withdrawal
Apart from the basic savings account, there will be no charge for withdrawal of 25 thousand rupees every month from other savings account and current account. However, after the free limit, at least Rs 25 will have to be charged on every withdrawal. Apart from the basing savings account, there will be no charge for depositing ten thousand rupees in a month in savings and current accounts. But depositing more than this limit will attract a charge of at least Rs 25.
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What happened in Doorstep Banking Charges?
GST or Cess will also be applicable on this charge. Earlier, India Post Payments Bank had implemented the new rates of doorstep banking charges on August 1, 2021. For this a charge of Rs 20 was fixed per customer. Interest rates on savings accounts were revised with effect from July 1, 2021. These rates were based on the balance in the account. The interest rates on deposits of Rs 1 lakh were made at 2.5 per cent per annum. At the same time, the interest rate on deposits of more than one lakh was fixed at 2.75 percent.
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