Airtel Launches Airtel Payment Bank ( Interest-...

Airtel Launches Airtel Payment Bank ( Interest- 7.25℅)

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Airtel Payments Bank Ltd on Wednesday became the first to launch a payments bank service in India. The company, a subsidiary of Bharti Enterprises that has started the service as a pilot in Rajasthan, also said it would provide an interest of 7.25% a year on deposits in the payments

Who can open an Airtel payments bank account?
Anyone with an Aadhaar card can open a Savings Account with Airtel payments bank.

Do I need to be an Airtel mobile subscriber to open an account?
No, if you have an Aadhaar card, you can open an account even without being an Airtel mobile subscriber.
What is the process to open an account?
You can open an account by visiting a designated Airtel retail outlet in your neighbourhoodalong with your Aadhaar number. The account will be opened through a paperless process within minutes through Aadhaar-based paperless electronic know-your-customer process.
Will there be a debit/credit card facility?
Airtel payments bank initially won’t offer an ATM/debit/credit card facility. You can deposit and withdraw cash at any of the designated Airtel retail outlets, which will function as Airtel banking points.
How do I check my account balance?
Since it is a paperless bank, you can check your account balance and access other services using the Airtel Money app, USSD or IVR over your mobile phone.
How do I transfer money to a friend or family?
You can access money transfer services on your Airtel Money app or through USSD by dialling *400#. Money transfers made from one Airtel number to another within the bank will be free.
What is the interest rate that I get for depositing money in my Airtel payment bank account?
The company has said that it intends to give an interest rate of 7.25% a year on deposits in savings accounts.