Airtel Payments Bank Opens Over 1 Lakh Savings Accounts In Uttra Pradesh

Airtel Payments Bank On Thursday claimed to have opened over one lakh savings accounts in Uttar Pradesh within the first two weeks of its launch. As many as 60 per cent of these accounts have been opened in rural areas.

The Bank uses over 12,000 Airtel retail outlets In Uttar Pradesh, as banking points. Nearly two-thirds of these banking points across the State are in rural areas.

Shashi Arora, managing director and CEO, Airtel Payments Bank said, "We are delighted with the response received from the customers in Uttar Pradesh and look forward to building on this momentum and serve even more customers in the days to come. Airtel Payments Bank is fully committed to taking its simple and convenient services deeper into the state and contribute towards financial inclusion and banking for all." 

Here are the details of benefits being offered to account holders.

1) Digital Banking:Paperless account opening using Aadhaar based e-KYC.

2) The customer's mobile number will be his/her bank account number.

3) Interest rate of 7.25 % per annum on deposits in savings accounts.

4) One minute of Airtel mobile talk-time for every Rupee deposited at the

time of opening a savings account.

5) Money transfer to any bank account in India (Free money transfer from Airtel-to-Airtel numbers within Airtel Payments Bank).

6) Free Personal Accidental Insurance of Rs. 1 Lakh with every Savings Account.

7) An online debit card in partnership with MasterCard that can be used to make payments across all online merchants like Flipkart, Amazon and Uber etc. No transaction charges for digital payments

8) No transaction charges for digital payments between customers and merchants.