IPPB News: The new year is about to come and from January 1, many terms and conditions of your work are going to change. In this episode, a bank has fixed a limit for its customers to withdraw cash and deposit money through a new rule. If you deposit more than Rs 10,000 in the savings account in this bank, now you will have to pay a charge.
India Post Payment Bank has a new rule
In India Post Payment Bank, you will be able to deposit only Rs 10,000 in a month without any charge in savings and current accounts. IPPB has given information on its website that customers will have to pay additional charges for depositing more than this limit of 10,000. Actually, three types of savings accounts are opened in India Post Payment Bank, in which there are different rules for Basic Saving Account, Saving Account.
Different charges for different bank accounts
Apart from the basic savings account of IPPB, there will be no charge for withdrawing Rs 25,000 every month from the current account. However, every time you withdraw money after this free limit, you will have to pay at least Rs 25, after which it will become more expensive for you to withdraw and deposit money from IPPB.
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New rules of IPPB are a setback for account holders
Three types of savings accounts or savings accounts are opened in IPPB and in this, you can withdraw cash from Basic Savings Account four times every month for free i.e. without any charge. But after this, customers will have to pay at least Rs 25 on every withdrawal. There will be no charge for depositing money in Basic Savings Account.
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IPPB gave additional information
India Post Payment Bank has informed that the new charges will be applicable from January 1, 2022 and GST/Cess will be levied on them as per other rules of banking.
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