New Delhi: Airtel Payments Bank has mentioned that its clients will get an elevated interest price of 6% p.a. on financial savings account deposits of over Rs 1 lakh.
This follows Airtel Payments Bank changing into the primary funds financial institution to implement the improved day-end financial savings restrict of Rs 2 lakh as per the Reserve Bank of India (RBI) tips.
Airtel Payments Bank Savings Account Interest Rates from May 1, 2021
Rs 1-2 lakh: 6% p.a.
Upto Rs 1 lakh: 2.5% p.a.
The new interest price regime is a crucial addition to the Bank’s suite of straightforward, safe, and rewarding options. Customers can now open an Airtel Payments Bank account inside jiffy with a video name from the Airtel Thanks app, the corporate mentioned.
The financial institution affords a digital financial savings account – Rewards123, which supplies extra worth to clients once they transact digitally utilizing the account. Furthermore, clients who’ve an Airtel quantity linked to their financial savings account also can allow Airtel Safe Pay – India’s most secure mode for making digital funds.
Airtel Payments Bank has over 55 million engaged customers throughout its operations.
Anubrata Biswas, MD, and CEO, Airtel Payments Bank, mentioned, “RBI’s increased savings deposit ceiling is a major milestone for payments banks as this was a key ask from customers. With an attractive 6% p.a. rate of interest on deposit sums in excess of one lakh, we are making our banking proposition even more rewarding. Our unmatched footprint of 500,000 banking points and a global first secure and simple experience delivered digitally, Airtel Payments Bank offers a market leading proposition for both the urban digital and the rural underbanked customer.”
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