Airtel has launched the Airtel Payments Bank, a completely digital bank, with special offers for savings account deposits. You can also open new accounts, deposit cash, and withdraw cash in any of its banking points.
Offer for new customers.
Open a savings account with Airtel Payments Bank, and for every Rupee you deposit, you’ll get one-minute talk time on your Airtel mobile. So if you deposit a hundred rupees in the Airtel Payments Bank, you will get a 100 rupees of talk time which you can use for all national calls. Valid for 30 days.
Starting in Rajasthan.
Airtel is testing out the banking service in Rajasthan before launching it to the rest of India. You can open an Airtel Payments Bank account from any of the 10,000 Airtel stores in the towns and villages across Rajasthan.
Commenting on the launch, MD and CEO, Airtel Payments Bank, Shashi Arora had this to say:
“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.”
In an attempt to promote cashless transactions, and to encourage more people to adopt Airtel Payments Bank, the company has made arrangements with a wide network of sellers across Rajasthan so that users can shop more conveniently and securely. And this service is available from today.
How it works:
- You can open an Airtel Payments Bank account even if you’re not an Airtel user.
- To open an account, you need just your Aadhaar card. No other documents or signatures required.
- Your Airtel mobile number will act as your bank account number as well.
- For all your savings, you’ll get an interest of 7.25% per annum.
- You can transfer cash to any bank account in India. And if you’re transferring from one Airtel Payments Bank to another, it’s free.
- Every savings account holder gets a Personal Accidental Insurance of INR 1 lakh.
Accessing the bank’s services:
You can avail the services of the bank by visiting any of the Airtel Payments Bank outlets. There are also other ways to access the service:
- From the Airtel Money app on your smartphone.
- Through USSD, where you have to dial *400#. (Available in Hindi and English.)
- Through IVR, in which you have to call 400. (Available in Hindi and English.)
And if you’re not an Airtel customer, you can access the bank by dialing 8800688006.