What are features of India Post Payments Bank (IPPB)? Branches

Short Answer

India Post Payments Bank or IPPB, a Government of India owned payment bank was launched on 1st September 2018 offering doorstep banking especially in rural areas of India. The features include 4% Internet on savings banks accounts, easy money deposit, withdrawals, doorstep banking facilities, micro-ATM facilities and much more.

Detailed Answer

India Post Payments Bank branches (IPPB) has some unique features to offer. Learn more about them and information on various branches of this payment bank.

On 1st September,2018 the much awaited IPBB services were made available in the first phase which includes 650 branches(one in every district) and 3250 post offices as access points. IPPB further working upon at a fast pace for growing its presence throughout India.

Some key features of India Post Payments Bank are:

  • Doorstep banking, mobile banking, paperless banking.
  • Instant bank account opening, micro-ATM facility etc.
  • Easy money transfer, deposits & withdrawals.
  • Convenient option for paying utility and other bills.
  • IPPB can accept savings and current account deposits <= Rs.1 lakh only.
  • A 4% interest rate on savings account shall be offered.
  • IPPB can't lend directly but can act as a banking correspondent for other banks to provide credit services to rural areas.

With the intent of providing a one step financial solution to your banking needs, the India Post Payment Bank branches have been functioning across:

  • Odisha
  • Punjab
  • Telangana
  • North East
  • UP
  • Gujarat
  • Maharashtra
  • Rajasthan
  • Kerala
  • Uttarakhand
  • West Bengal
  • Chattisgarh
  • Haryana
  • Karnataka
  • Andhra Pradesh
  • Bihar
  • J&K
  • Madhya Pradesh

Ready to give a new and fresher look to the rural banking, India Post Payments Bank (IPPB) is set to benefit the remote customers. What do you think of India India Post Payments Bank (IPPB)? Will it actually prove good for the people and give them requisite access to useful services? Feel free to give any feedback on the same.

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Categories: Finance
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Discussion (1)

These payment banks seem to be a good initiative only if they actually provide what they promise to give to the rural community. Banking has still not reached far flung areas and if such banks branches can actually make it possible and easy, it would be great. There are other popular payment banks also like Airtel Payments bank, Paytm Payments bank, Fino Payments bank. But, how does one differentiate as to which one to choose? I think all these are similar in functioning and benefits. Any idea on this.

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