Post Office Savings Account link with IPPB account: By doing this, any account balance which is more than Rs 2 lakh is transferred to the linked Post Office Savings Account (POSA).
Post Office Savings Account link with IPPB account: You have a savings bank account in the post office. You can link this account with India Post Payment Bank (IPPB) savings account. By doing this you get many benefits. You can do this easily. According to the information available on the official website of India Post Payment Bank, by doing so, any account balance which is more than Rs 2 lakh is transferred to the linked Post Office Savings Account (POSA).
How to link account
To link the India Post Payment Bank Savings Account, the customer should have an active Post Office Savings Bank account. The Post Office Savings Bank account can be linked at the time of opening of India Post Payment Bank Savings Account or thereafter through doorstep service or at IPPB access point. While linking the Post Office Saving Bank Account, the customer needs to present his/her Post Office Saving Bank Account passbook to GDS/Postman at the doorstep service or to the counter staff at the access point. After successful linkage of Post Office Savings Account, information is sent through SMS to the registered mobile number of the customer.
Know its benefits
The amount is automatically transferred to the Post Office Savings Account as soon as the limit of 2 lakhs is crossed in India Post Payment Bank Savings Account. If the balance at the end of the day exceeds the limit instead of rejecting the transaction, then The system will transfer the extra amount to the post office savings bank account. India Post Payment Bank can transfer the entire balance amount from the savings account to the post office savings account in one go, as there is no maximum balance limit.
Customers can manage funds through IPPB mobile banking app with swipe-in and swipe-out facility. Account holder can withdraw and deposit cash through India Post Payment Bank Savings Account.
