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Service Charges / Fees for SHG

Eligibility Self help groups
Initial Minimum Deposit NIL
Maximum End of Day Balance INR 2,00,000
Nomination Facility Not Available
Linkage of POSA Account* Not Available
Monthly Average Balance (MAB) NIL
Non-maintenance charges on MAB NIL
Annual Interest Rate Balance up to INR 1 Lakh - 2.00% per annum
Balances above INR 1 Lakh & up to INR 2 Lakh – 2.25% per annum
Interest Payment Quarterly (Interest shall be paid in the subsequent month of each quarter)
SMS Alerts Actual usage of SMS alerts quarterly, INR 0.25 + GST per SMS
Account Statement One Free Physical Monthly statement
QR Card Free
Setting of Standing Instruction Charges Not Available
Account Closure Charges NIL
Balance certificate per Instance INR 50
Card/ KIT returned due to wrong address Not Available
Bill Payments/ Re-charge Not Available
Cash deposit charges Free
Cash withdrawal charges Free
Virtual Debit Card Issuance Not Available
Virtual Debit Card Reissuance Not Available
Virtual Debit Card Annual Maintenance Not Available
AePS Cash Withdrawal over non IPPB Network INR 20 per transaction post free limit.**
AePS Cash Deposit over non IPPB Network INR 20 per transaction post free limit.**
AePS Mini Statement over non IPPB Network INR 5 per transaction post free limit.**
Notes :
  1. *POSA (Post Office Savings Account)-POSA account not offered for SHG accounts.
  2. ** Currently not live
  3. The above charges are subject to change. IPPB reserves the right to change the above charges as per its discretion.
  4. For any services availed at doorstep, doorstep charges will be applicable.
  5. All charges are exclusive of GST.
  6. @ SMS alerts @ Rs. 0.25 + GST per SMS. Maximum capping of SMS charges per quarter for customers shall be Rs.100 + GST and for Merchants, maximum capping of SMS charges per quarter shall be Rs. 50 + GST effective from 1st October 2024.