According to a press release by Airtel, every customer of Airtel Payments Bank, who opens a savings account will get one minute of talktime on smartphone against every rupee that is deposited with the bank. This means that if you deposit, say Rs 500 in the bank, you will get 500 minutes of talktime on your Airtel phone number. This amount can be used for calling any number all over India. However, this benefit is only for deposits made in the bank for the first time.
Airtel Bank’s services can be accessed by Airtel customers on their mobile phones through the Airtel Money app, through USSD by dialling *400# or via a simple IVR by dialling 400. Both the USSD & IVR options are available in Hindi and English language and work on simple feature phones as well. Now Airtel customers can access Airtel Bank’s services by dialling 8800688006.
Highlights of Airtel Payment Bank:
- Account can open using Aadhaar based e-KYC
- Customer’s Airtel mobile number will be his bank account number
- Interest rate of 7.25 % p.a. on deposits in savings accounts
- Money transfer to any bank account in India
- Personal Accidental Insurance of Rs. 1 Lac with every Savings Account
- A customer can deposit maximum Rs. 1 lakh in the payment bank account as per the Reserve Bank of India (RBI) guidelines
- A Customer can’t open an NRI account.