Airtel Payments Bank Opens 1 Lakh Accounts In 2 Weeks

More than one lakh people in Uttar Pradesh have opened their savings account with Airtel Payments Bank, the banking services arm of Bharti Airtel,  within just two weeks of rolling out the services, the company said today.

Of this, 60% accounts are opened in rural areas. Providing banking access in rural areas and bringing the unbanked population into the banking system was the primary objective of a payments bank.

The company has created a network of 12,000 retail outlets across the state to provide the banking services of which around 8,000 are set up in rural areas.  Consumers can open their savings accounts, deposit and withdraw money across in these stores.

 

“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. We are also building a digital payments ecosystem that will enable customers to make cashless payments for goods and services across millions of merchants across the country and invite merchants across Uttar Pradesh to be a part of this ecosystem,” said Shashi Arora, MD & CEO, Airtel Payments Bank.

Airtel payments Bank was launched on 12 January, 2017, though the pilot project was going on in few states since November.

What You Can Do With Airtel Payments Bank

  • Like a traditional bank, one can open a savings account in a payments bank.
  • Your Airtel mobile number is your account number
  • You may get a debit/ATM card
  • You will not get a credit card
  • You can earn interest of 7.25% p.a on your deposit
  • You can deposit upto Rs 1,00,000
  • You can transfer money to any bank account
  • You can do online shopping, ticket booking, transactions etc
  • You can withdraw cash
  • You get Rs 1 lakh personal accident insurance with a new savings account

Also Read

Leave a Reply

 
%d bloggers like this: