HomeNewsAirtel Payment Bank now running successfully across 200 villages in India

Airtel Payment Bank now running successfully across 200 villages in India

For those who are not aware, Airtel Payment Bank is basically a digital payments bank which provides complete digital and paperless banking services to its customers.

Airtel Payment Bank has today announced that over 200 villages across India will go cashless as part of its online banking services into rural/unbanked areas. These villages will now have access to basic banking facilities including opening account, cash deposit, withdrawal and make digital payment.

For those who are not aware, Airtel Payment Bank is basically a digital payments bank which provides complete digital and paperless banking services to its customers. Through this service, every village will now have at least one Airtel Payment Bank outlet that will provide basic banking services and one will also be able to bank or transact with a basic feature phone. With this, the company also aims to enable 500 villages across the country to go under this initiative.

Talking about the benefits of this new Payments Bank service, one will get an interest rate of 7.25 % on deposits in savings accounts. For comparison, banks such as Axis, ICICI, and HDFC offer 4 percent interest, while Yes Bank and Kotak offer 6 percent. Further, your Airtel mobile number will your bank account number and one can easily transfer funds to any bank account in India for free.

Every subscriber to a Saving Account with Airtel Payments Bank also gets a free personal accidental insurance of Rs 1 Lac. On top of this, one would also get free Talktime for the amount deposited in his or her Airtel’s Bank account. In other words, every rupee you deposit into your Airtel Bank account will fetch you a rupee talk-time free.

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