India Post Payments Bank – End-Users Incentive
w.e.f April 2024
Revised IPPB incentive Structure for AEPS and CELC
| Products/Services | Rate per Unit | Incentive to End User (L0) |
|---|---|---|
| Aadhaar enabled Payment System | Free (*0.50% of transaction amount subject to max. ₹15/- per transaction. No income for transaction of less than ₹10/-) |
₹ 3.90* |
| CELC- Aadhaar-Mobile Update Service | ₹ 50 | ₹ 11 |
| CELC- Child Aadhaar Enrolment | Free | ₹ 10 |
Revised IPPB incentive Structure for Life Insurance and Health Insurance
| Products/Services | Rate per Unit | Incentive to End User (L0) |
| Digital Life Certificate | ₹ 70 | ₹ 15.40 |
| Life Insurance – Term | ₹ 10,000 (Ex. Premium) |
₹ 1040 |
| Life Insurance – Annuity | ₹ 2,00,000 (Ex. Premium) |
₹ 2080 |
| Health Insurance | ₹ 8,000 (Ex. Premium) |
₹ 264 |
Revised IPPB incentive Structure for General Insurance
| Products/Services | Rate per Unit | Incentive to End User (L0) |
| General Insurance – Motor | ₹ 5,000 (Ex. Premium) |
₹ 165 |
| Group Accident Guard (GAG) – TAGIC | ₹ 520 (Ex. Premium) |
₹ 17 |
| Group Personal Accident (GPA) – BAGIC | ₹ 699 (Ex. Premium) |
₹ 23 |
| Group Personal Accident (GPA) – NIVA | ₹ 755 (Ex. Premium) |
₹ 25 |
| Group Personal Accident (GPA) – ABHI | ₹ 749 (Ex. Premium) |
₹ 25 |
| Group Personal Accident (GPA) – STAR | ₹ 799 (Ex. Premium) |
₹ 26 |
| Group Hospi Cash + Cancer Care + Health Service | ₹ 1094 (Ex. Premium) |
₹ 36 |
| International Money Transfer Services (RIA MONEY – Inward remittance) | ₹ 20,000 (Avg. Amount) |
₹ 52 |
Revised IPPB incentive Structure for PMJJBY
| Products/Services | Rate per Unit | Incentive to End User (L0) |
|---|---|---|
| Life Insurance – PMJJBY | ₹ 436, ₹ 343, ₹ 228 & ₹ 114 |
₹ 10.60, ₹ 8.60, ₹ 5.70, & ₹ 2.80 |
Revised IPPB incentive Structure for IPPB Account Opening
| Products/Services | Rate per Unit | Incentive to End User (L0) |
|---|---|---|
| Premium Account (without Aadhaar seeding) | ₹ 149 + GST (= ₹ 176) | ₹ 26.00 |
| Premium Account (with Aadhaar seeding) | ₹ 149 + GST (= ₹ 176) | ₹ 33.90 |
| Premium Account (with Aadhaar seeding & Virtual Debit Card) | ₹ 176 + 25 (VDC) (= ₹ 201) | ₹ 48.30 |
Revised IPPB incentive Structure for IPPB Loan
| Products/Services | Rate per Unit | Incentive to End User (L0) |
| Home Loan/Loan Against Property (Average Loan Amount – ₹ 7 Lakh) | – | ₹ 1092 – ₹ 1547 |
| Personal Loan (Average Loan Amount – ₹ 2 Lakh) | – | ₹ 364 – ₹ 1040 |
| Tractor Loan (Average Loan Amount – ₹ 5 Lakh) | – | ₹ 1300 |
| Vehicle Loan (Two / Four Wheeler) (Average Loan Amount – ₹ 3 Lakh) | – | ₹ 546 – ₹ 780 |
| Gold Loan (Average Loan Amount – ₹ 0.80 Lakh) | – | ₹ 104 – ₹ 167 |
*TDS applicable on the incentive earned as per guidelines.
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