After introducing the Airtel Payment Banks in many cities, Bharti Airtel rolled out the banking service across 29 states at 250,000 banking points in the country. According to the company, all the Airtel Stores will also work as banking points. Just like in any other bank, the users can open Savings account, withdraw and deposit cash from them.
In order to develop digital payments ecosystem and a pan India banking network, the company will invest 3000 crores. The telecom-giant already has nearly one million customers in this program. A nation-wide digital payments ecosystem will be developed with over five million merchants.
The company is also saying that this service can also be availed by people who are not Airtel customers. All they will require is an Aadhar card to open Savings Account with Airtel Bank.
- Digital Banking: Quick and paperless account opening using Aadhaar based e-KYC. This requires no documents at all, only the customer’s Aadhaar number is needed
- Customer’s Airtel mobile number will be his/her bank account number
- Interest rate of 7.25 % p.a. on deposits in savings accounts
- Money transfer to any bank account in India (Free money transfer from Airtel to Airtel numbers within Airtel Bank)
- Personal Accidental Insurance of Rs. 1 Lac with every Savings Account
- Easy deposit and withdrawal facility across a wide network of Airtel retail outlets
- USSD and IVR in 12 languages for non-smartphone customers.
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