New Delhi: Airtel Payments is good news for bank account holders. Airtel Payments Bank has increased the interest rate on deposits of more than Rs 1 lakh in savings account to 6 per cent per annum. On the balance of up to Rs 1 lakh, customers will continue to get 2.5 percent interest annually. Explain that the Reserve Bank of India (RBI) recently raised the deposit limit for Payments Bank account holders from Rs 1 lakh to Rs 2 lakh. After RBI, Airtel Payments Bank became the first payment bank to be allowed to hold accounts up to Rs 2 lakh.
Banking in Airtel Payments Bank
Airtel Payments Bank is a one-stop center for many traditional banking facilities. With this, you can avoid long queues and complicated processes to open a savings account. Opening a savings account with Airtel Payments Bank is a completely paperless process, which will take only a few seconds. You get many benefits by opening a savings account with Airtel Payments Bank. These include cash deposit / withdrawal, money transfer, mobile / DTH recharge, utility bill payment, online / offline shopping at any of its more than 5 lakh branches across the country.
Here’s how to manage your account
You can visit the nearest banking center to open or manage your Airtel Payments Bank Savings Bank Account. You can also use the My Airtel app to manage your Airtel Payments bank account. The bank also operates a Rewards 123 digital savings account, in which customers get more benefits when they use the account for online transactions.
Use Airtel Safe Pay
Customers can also use Airtel Safe Pay from Airtel linked to their savings account. With only a secure key, one can deposit cash at the Airtel Payments Banking Point and one can withdraw cash from any Airtel Payments Bank banking point using the Aadhaar biometric verification process. Know further benefits of Airtel Payments Bank Account.
You get lot of benefits
The remaining benefits of Airtel Payments bank account include high interest rate. Also you will not need to maintain minimum balance in the account. You will get a virtual debit card and easy cash withdrawal and deposit facility from the nearest banking point. Using the Airtel Thanks App, you can pay your utility bills and send money to your friends. More than 1 lakh ATMs across the country can withdraw cash without a card.
How to open account
Now you can open a savings account with Airtel Payments Bank using the Airtel Thanks App. KYC can be processed at any time from anywhere through video interaction. May your data connectivity be good during video KYC. Keep PAN card with you. You will also have to enter your details on the Airtel Thanks App. After this, the bank representative will investigate through video interaction. After the completion of the video KYC, you will be given a full bank account by Airtel Payments Bank.