Airtel Payments Bank: First Bank to pay 7.25% Interest on Deposits

India’s first payment bank goes live. Airtel payments bank starts its pilot services in Rajasthan, here about 10,000 Airtel retail outlets are going to establish in towns and cities of Rajasthan and it will work as the banking points for the convenience of customers.

Airtel will have a network of over 1 lakh merchants across Rajasthan accepting digital payments from Airtel payments bank. This concept is introduced for the convenience of cashless purchase of goods and services using their bank accounts.

This Airtel payments Bank is the subsidiary of Bharti Airtel Limited. It has decided to start pilot services, at present in Rajasthan they are testing, if this plan is succeeded, they will launch throughout India.

Airtel bank is the digital and paperless bank. Here check out the information for How to Open Airtel Payments Bank

  • Digital Banking: It is Quick and paperless account opening using Aadhaar card. No documents are required and customer’s Aadhaar number is enough
  • Customer’s Airtel mobile number is bank account number
  • Interest rate  given for 7.25 % per annum on deposits in account of savings
  • Money can transfer to any bank account in India and they are offering free money transfer from Airtel to Airtel numbers by using Airtel Bank
  • They are also providing Personal Accidental Insurance of Rs. 1 Lakh for every Savings Account
  • Deposit and withdrawal is easy across the wide network of Airtel retail outlets
  • No debit or credit cards are provided with this bank account
  • Customers can access their money through airtel money app
  • Airtel payments company CEO Shashi Arora said “We fully committed to the government vision of financial inclusion and banking for all. The money app accesses These bank services by dialing *400#. All transaction charges are free from airtel to airtel.

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