Airtel Payment Bank

Airtel Payment Bank It is the oldest payment bank. After getting the license, Bharti Airtel has opened this payment bank through its subsidiary. The Kotak Mahindra Bank has also a stake in this bank.

Network

The Airtel Payment Bank boasts of 1.5 million retailers across the country. These retailers can double up as the banking point. Today, Airtel has 4 lakh banking point. It is more than all ATMs together. At these points, you can withdraw or deposit money. Interest Rate

The Airtel Payment bank gives the interest rate of 5.5% in its saving account. This rate is higher than regular banks which gives 3.5-4.0% interest rate. Initially, Airtel Payment Bank was giving 7.5% rate. Also Read: Airtel Payments Bank Money Transfer Charges Features

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The bank supports UPI payment system for fund transfer. The UPI is the most advanced mechanism of fund transfer. It is free, instant and always available. It gives a free digital debit card in association with the MasterCard. There would not be an annual charge for this card. The bank opens your account instantly and requires no documents. It only needs your Aadhaar along with the fingerprints. Your Airtel number would be your bank account number. Free Personal Accident Insurance cover of ₹1 lakh.

Know More: Airtel Payment Bank Customer Support Airtel Payments Bank is a public limited company with its headquarters in New Delhi, India. The company is a subsidiary of Bharti Airtel. It is the first company in India to receive a payments bank license from the Reserve Bank of India and it became the first live payments bank in the country. Wikipedia CEO: Anubrata Biswas (24 May 2018–) Headquarters: New Delhi India Founded: 2016 Parent organization: Bharti Airtel Subsidiary: YTS Solutions Pvt. Ltd.