Airtel Payments Bank which has rolled out pilot services in Rajasthan at 10,000 Airtel retail outlets with the objective of testing its systems and processes ahead of full scale pan-India launch, has announced one more attractive offer for its customers. It will offer one minute of talk time for every Rupee deposited for the first time.
For instance, 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 Payment Bank is the first bank to offer interest rate of 7.25% p.a. on savings accounts deposits, the highest in India.
Airtel Payments Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year. Non-Airtel customers can also open a savings account with Airtel Payments Bank based on their Aadhaar card.
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.
Highlights of Airtel Payment Bank:
· 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
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”