As advertised by Airtel, Airtel Payments Bank is the first Payments Bank to be operational in India. It started its operations on thursday January 12, 2017 at Delhi. A dozen of other companies also applied for Payments Bank Permission but only a few have really come out in their implementation. Paytm Payments Bank may be the second one to start in this regard. Payments Banks are one step ahead of e-wallets offered by various companies.
Following are the highlights of the Airtel Payments Bank.
- Your Mobile Number is the Account Number
- Interest rate on amount present in the account is 7.25%
- Free Talk Time equals to the amount deposited
- Free personal accident insurance cover of 1 lakh rupees.
- Do any transactions any where using Airtel Debit Card
- Account opening in less than 3 minutes using eKYC Aadhar Finger Print Authentication
- Send money to friends and family using just mobile number itself
- Withdraw cash any where at its banking points or partners
Customers are expected to get more benefits in future with the introduction of Payments Banking System. Customer need not visit bank for any purpose. He can avail all facilities using just an Airtel App on Smartphone. You can register with Airtel Payments Bank online using the Airtel website link.
MyAirtel App is the one stop app for all Airtel banking needs.