Mumbai: The India Post Payments Bank (IPPB) announced that cash deposits and withdrawals will be charged If the free limit is exceeded. The new charges will come into effect from January 1,2022.
In the Basic Savings Account, cash withdrawal will remain Free up to 4 transactions per month and after that the withdrawal charge will be 0.50% of the value subject to minimum Rs. 25 per transaction. The cash deposit up to any amount will remain free in the Basic Savings Account.
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In the Savings and Current Account, the cash withdrawal will be free up to Rs. 25,000 per month and thereafter a charge of 0.50% of the value subject to minimum Rs. 25 per transaction will be levied. In the Savings and Current Account, the cash deposits will be Free up to Rs. 10,000 per month and thereafter, a charge of 0.50% of the value subject to minimum Rs. 25 per transaction will be levied.
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