5 Important Things to Know Before Opening a Savings Account With Airtel Payment Bank

Airtel recently rolled out India's first live payment bank, allowing users to open a savings account easily. Here's everything you should know before availing the service.

By Sneha

It is just past few days ago that Bharti Airtel had introduced the first live payment bank in Rajasthan, and is soon expected to spread out to the rest of the country, with the aim to offer banking services, and boost the digital payments ecosystem.

5 Important Things to Know Before Availing Airtel Payment Bank Service

Soon after Airtel payment bank have been rolled out, the company could manage to open up to 10,000 saving accounts in a span of 2 days.

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India's best network will now be known as Airtel payment bank or Airtel bank, as the company with the new move will help customers to easily open a savings account at the Airtel retail outlets to boost the economic and financial condition of the country.

However before a customer opens an account with the Airtel payment bank, there are a few important things take into consideration. Have a look, to conduct a hassle free process of opening an account.

Need Not Be an Airtel Customer

Yes! Customers are often thinking that to open a savings account at the Airtel payment banks, they need to have an Airtel connection.

Just in case if you're thinking the same, you're wrong, as to open a saving account with Airtel payment bank, you need not be an Airtel customer.

eKYC and Biometric Verification

To open a savings account with Airtel payment bank, the customer can simply try out the paperless process, via Aadhaar eKYC verification in just a matter of few minutes.

Annual Interest With Airtel Payment Banks

Annual Interest With Airtel Payment Banks

Opening a savings account with Airtel payment bank will fetch the user with 7.25 percent of annual interest, which seems to be a lot more than the rest of the bank competitors.

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No Debit or Credit Card Facility Yet!

Well, as of now, Airtel payment bank has not yet decided about offering debit or credit cards, however, people can deposit and withdraw cash by visiting any the designated Airtel retail outlets that have been registered Airtel banking point.

Access Airtel Account With Airtel Payment Bank

Smartphone users can also access their new Airtel payment bank savings account via the Airtel Money App, be it transfer money, check balance, and do everything with just a click on the mobile App.

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