IPPB Launches Zero-Balance SHG Savings Account to Empower Women-Led Self Help Groups
In April 2026, India Post Payments Bank (IPPB), under the Department of Posts (DoP), Ministry of Communications, launched a dedicated Self Help Group (SHG) Savings Account across India to advance financial inclusion and empower women-led micro-enterprises across rural India by providing a zero-balance, zero-cost banking solution accessible via the postal network.
About IPPB’s SHG Banking Account:
Features: Provides zero balance and zero charges account with no Monthly Average Balance (MAB), free cash deposits and withdrawals, no closure or Quick Response (QR) card charges, one free monthly statement, and paperless digital onboarding via Post Offices, Postmen, and Gramin Dak Sevaks (GDS).
Data: Allows a maximum balance of Rs. 2 lakh with quarterly interest payouts at 2% up to Rs. 1 lakh and 2.25% between Rs. 1–2 lakh, supported by a vast network of over 1.65 lakh post offices and nearly 3 lakh postal workers serving 5.5 lakh+ villages through biometric-enabled mobile platforms.
Services: Supports SHG-led livelihoods across various micro-enterprises while enabling basic savings and transactions, with exclusions such as mobile banking, nomination, standing instructions, Post Office Savings Account (POSA) linkage, bill payments, and virtual debit card services.
Linkage: Aligned with National Rural Livelihoods Mission (NRLM) under Ministry of Rural Development and supported by National Bank for Agriculture and Rural Development (NABARD).
In April 2026, India Post Payments Bank (IPPB), under the Department of Posts (DoP), Ministry of Communications, launched a dedicated Self Help Group (SHG) Savings Account across India to advance financial inclusion and empower women-led micro-enterprises across rural India by providing a zero-balance, zero-cost banking solution accessible via the postal network.
About IPPB’s SHG Banking Account:
Features: Provides zero balance and zero charges account with no Monthly Average Balance (MAB), free cash deposits and withdrawals, no closure or Quick Response (QR) card charges, one free monthly statement, and paperless digital onboarding via Post Offices, Postmen, and Gramin Dak Sevaks (GDS).
Data: Allows a maximum balance of Rs. 2 lakh with quarterly interest payouts at 2% up to Rs. 1 lakh and 2.25% between Rs. 1–2 lakh, supported by a vast network of over 1.65 lakh post offices and nearly 3 lakh postal workers serving 5.5 lakh+ villages through biometric-enabled mobile platforms.
Services: Supports SHG-led livelihoods across various micro-enterprises while enabling basic savings and transactions, with exclusions such as mobile banking, nomination, standing instructions, Post Office Savings Account (POSA) linkage, bill payments, and virtual debit card services.
Linkage: Aligned with National Rural Livelihoods Mission (NRLM) under Ministry of Rural Development and supported by National Bank for Agriculture and Rural Development (NABARD).
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