Airtel Payments Bank is India's first payments bank to go LIVE in Rajasthan. People across villages and towns will now be able to open bank accounts at Airtel retail outlets.
These outlets will also act as Airtel banking points and offer a range of basic, convenient banking services. Airtel Bank is a fully digital and paperless bank. Airtel banking outlets will offer bank account opening services and cash deposit & withdrawal facilities.
Airtel Bank will work similar to other commercial banks, while commercial banks in India can lend, payment banks cannot lend.
Here are main features of Airtel Bank:
- Individuals can open savings bank account using Aadhaar based e-KYC, as this does not require documents at all.
- However, the customer's Aadhaar number is needed and customer's Airtel mobile number will be his/her bank account number.
- The bank offers an interest rate of 7.25 % per annum on deposits in savings accounts.
- The bank offers free money transfer from Airtel to Airtel numbers within Airtel Bank.
- The bank also covers Personal Accidental Insurance of Rs 1 lakh with every Savings Account
- Airtel Bank customers can easily deposit and withdraw across a wide network of Airtel retail outlets.
1) Who is eligible to open an account with Airtel Bank?
Anyone including non-Airtel customers with an Aadhaar card can open a savings account with Airtel Bank.
2) How to open an account with Airtel Bank? What documents are required?
Individuals who are interested to open an Airtel savings account can do it by visiting a designated near by Airtel retail outlet. No documents are required. The account can be opened within minutes through Aadhaar based e-KYC authentication.
3) How can a customer check their account balance?
As Airtel Bank is a paperless bank. Airtel Bank customers can check their account balance, access other services using Airtel Money app, USSD or IVR over their mobile phones.
4) How can one transfer money from Airtel Bank to family and friends?
Bank customers can access money transfer services using the Airtel Money app or through USSD by dialing *400#. Individuals can transfer from one Airtel number to another Airtel number within the bank for free.