IPPB Launches Zero-Balance Savings Account for Women-Led Self Help Groups (SHGs)

Financial Inclusion: IPPB’s Dedicated Banking for SHGs

India Post Payments Bank (IPPB) has launched a specialized Self Help Group (SHG) Savings Account to empower women-led micro-enterprises and promote financial inclusion in rural India. The account is aligned with the National Rural Livelihoods Mission (NRLM) and supported by NABARD.

Key Features of the SHG Account:

• Zero Balance & Zero Charges: No requirement for Monthly Average Balance (MAB) and no charges for cash transactions or account closure.


• Digital Onboarding: Paperless account opening through Postmen and Gramin Dak Sevaks (GDS) using biometric authentication.


• Interest Rates: Offers 2% interest up to ₹1 lakh and 2.25% for balances between ₹1–2 lakh.


• Accessibility: Designed specifically for rural SHGs to manage their collective savings and internal lending efficiently.

For TNPSC and Banking aspirants, this is a milestone in 'Rural Development' and 'Women Empowerment' through digital banking.