India Post Payment Bank (IPPB) provides the facility of digitally opening budget accounts through its mobile app. Post office account holders can easily conduct basic banking transactions through the IPPB mobile app. Earlier customers had to go to their nearby post office for depositing money, doing balance checks, transferring money and other financial transactions. Now you can also transfer money to your post office RD, PPF and Sukanya Samriddhi Account.
If you do not have time to go to the post office to open an India Post Payment Bank (IPPB) account and you want to avoid the hassle of standing in line outside the post office for opening the savings account, then you can open a digital savings account by downloading the IPPB app from home. The applicant must be an Indian citizen over 18 years of age to open an account.
These are the steps to start the digital IPPB account from home:
Step 1. Download the IPPB Mobile Banking app on your mobile phone. After this, open the IPPB Mobile Banking app and click on ‘Open Account’.
Step 2. Here you have to enter your pan card number and Aadhaar card number.
Step 3. After entering the pan card number and Aadhaar card number, you will get an OTP on the linked mobile number. Enter that OTP.
Step 4. Now you have to give the details of your mother’s name, educational qualification, address and nominee etc.
Step 5. After entering this information, click Submit. With this, the account will be opened.
Step 6. You can use this instant bank account through the app.
Digital saving account is valid for one year only. Within one year of opening the account, you have to complete biometric authentication for that account, after which it will be converted into a regular savings account.