Edition: India  
 
> >

Airtel Payments Bank Announces Additional Benefit on Savings Deposits

NewsVoir Friday, 2 December 2016
· Airtel Payments Bank offers interest rate of 7.25% p.a. on savings accounts deposits, the highest in India

· A customer’s Airtel mobile number will be his/her bank account number  

· Will have a network of over 100,000 merchants (shops) across Rajasthan accepting digital payments from Airtel Payments Bank, offering customers the convenience of cashless purchase of goods/services using their bank accounts/ wallets


*Airtel Payments Bank,* the first payments bank in India to go LIVE, today announced a major additional benefit on savings account deposits, offering unmatched value to customers.


Any customer opening a savings account with Airtel Payments Bank, will get one minute of talk time*  on his/her Airtel mobile for every Rupee deposited. For e.g. if a customer opens an account with a deposit of Rs 1000 then he/she will get 1000 minutes of free talk time on his/her Airtel mobile number. The talk time can be used for calling all over India. This benefit is applicable on first time deposits only.


Airtel Payments Bank has rolled out pilot services in Rajasthan with the objective of testing its systems and processes ahead of full scale pan-India launch. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services. Airtel Payments Bank will commence the pilot with banking points at 10,000 Airtel retail outlets.  


*Shashi Arora, MD & CEO, Airtel Payments Bank* said, “We are leveraging Airtel’s telecom ecosystem to bring banking services to the doorsteps of every Indian. We are confident that this additional benefit along with the industry-best interest rate on deposits will encourage customers to open accounts with us and give a big boost to customer acquisition. We are also undertaking a massive drive to enroll over one lakh merchants in Rajasthan by the year-end, who will not be charged anything for accepting digital payments from Airtel Payments Bank customers. We believe this will boost the digital payments ecosystem hugely and reduce dependence on cash.” 


A wide network of merchants (sellers/shops) across Rajasthan will accept digital payments from Airtel Payments Bank from day one, offering customers the convenience of cashless purchase of goods and services via their mobile phones in a quick and secure manner. Airtel Payments Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year, giving a big boost to digital payments ecosystem. 


Airtel Payments Bank is a fully digital and paperless bank. Its banking points will offer bank account opening services and cash deposit & withdrawal facilities. 


· *Digital Banking:* Quick and paperless account opening using Aadhaar based e-KYC. This requires no documents at all, only the customer’s Aadhaar number is needed

· *Customer’s Airtel mobile number will be his/her bank account number*

· *Interest rate of 7.25 % p.a.* on deposits in savings accounts, the highest in India

· *Money transfer to any bank account in India* (Free money transfer from Airtel to Airtel numbers within Airtel Payments Bank)

· *Personal Accidental Insurance of Rs. 1 Lac* with every Savings Account

· Easy deposit and withdrawal facility across a wide network of Airtel retail outlets


Any customer, including non-Airtel customers can open a savings account with Airtel Payments Bank by visiting a designated Airtel retail outlet in his/her neighbourhood. No documents are required, only the customer’s Aadhaar number is needed for opening an account. The account will be opened through a paperless process within minutes through Aadhaar based e-KYC authentication.


Airtel Payments Bank’s services can be accessed by Airtel customers on their mobile phones through the Airtel Money app, through USSD by dialing *400#; or via a simple IVR by dialing 400. Both the USSD & IVR options are available in Hindi and English language and work on simple feature phones as well. Non Airtel customers can access Airtel Payments Bank’s services by dialing 8800688006. Customers can also visit any designated Airtel retail outlet to access services (and not just the outlet where they have opened the account).


***Airtel to Airtel mobile minutes for calling all over India. Validity of 30 days
0
shares
Share on
Facebook
Share on
Twitter
Post on 
Reddit
Share by
Email
 

You Might Like


Recent related news

Airtel, HPCL partners for digital payments in Telangana, Andhra Pradesh

Customers of Airtel Payments Bank can now make digital payments for fuel purchase at 1,500 HPCL fuel stations across Andhra Pradesh and Telangana. The...
BGR India - Technology

Reliance Jio likely to launch Jio Payments Bank by the end of 2017: Report

If the service gets launched then it would be directly giving competition to recently launched Airtel's Payments Bank.
DNA - Money


Other recent news in Press Releases

More Than Half of Americans Think Fraud Is Inevitable When Shopping ONLINE and Want Businesses to Heighten Security MeasuresNaturi Naughton Hosts “BET HER FIGHTS: BREAST CANCER” Concert SPECIAL Premiering Sunday, October 22, 2017 at 7pm ET/PT on BET Her and 10pm ET/PT on BET
Quick-service RESTAURANTS Market - Innovation in Food Packaging Drives Growth | TechnavioUltimate Ears BLAST and MEGABLAST Deliver Breakthrough Portable Sound With AMAZON ALEXA Hands-Free Voice Control
Thai Union Fills New Position of NORTH AMERICA Sustainability DirectorThe Howard Hughes Corporation® Announces the Initial Funding of TIF Infrastructure for Downtown Columbia, MARYLAND
Retailers Call SENATE Budget Resolution ‘Important First Step’ Toward Tax ReformFire Emblem Warriors for NINTENDO SWITCH and New Nintendo 3DS Launches on Oct. 20
Devicare Ushers in Lit-Control® to the UNITED KINGDOMDiamond Resorts International® Members to Cheer on ARIZONA COYOTES® from Private, Luxury Suite

Twitter

Environmentally friendly: newsR is hosted on servers powered solely by renewable energy
© 2017 newsR / One News Page Ltd. All Rights Reserved.  |  About us  |  Disclaimer  |  Terms & Conditions  |  Privacy Policy  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Help  |  Contact us  |  DMCA / Content Removal
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter