How To Open an Account in Airtel Payments Bank?
1. You have to visit nearest Airtel retailer.
2. You should have your Aadhar Card information and Pan Card information with you to open the account.
3. You can create Payments Bank account on your any mobile number (It may be of Airtel or Non-Airtel). This mobile number will be your Bank account number.
4. Minimum Rs. 100 is to be paid to open the account. But, you will get Rs. 50 in your account. Because Rs. 50 will be deducted as fee to open the account.
5. Your account will be live within few seconds.
Benefits Of Opening an Account in Airtel payments Bank
1. Airtel Payments Bank gives the huge interests of 7.25% on your savings. No need of fixed deposits.
2. Interests will be paid to you on the first of every month.
3. You will be provided free Accidental Insurance of up to Rs. 1 lakh by Bharti Axa Life Insurance.
4. You will be given an Online Virtual MasterCard by Airtel which can be used anywhere in India.
5. The Bank is now listed in approximately all the payment options around India.
6. 5% cashback on your first two airtel prepaid or DTH recharges is offered when you pay through Airtel payments bank.
7. If, You create Bank account on your Airtel Number, You will be offered free Airtel to Airtel minutes of the same amount you have deposited in your account. (Means, If you have deposited Rs. 1000, you will get 1000 Airtel to Airtel minutes)
8. You can easily handle your account in My Airtel App
NOTE: You will get Interest at the rate of 7.25% on Savings Balance per Year but the interest amount will be credited every month. See the example given below to Clearly understand this Concept.
Example: Consider you have Rs 5000 in your Airtel Payments Bank Savings Account. So 7.25% of Rs 5000 will be Rs 362.5. So you will be getting Interest amount of Rs 362.5 annually but this amount will be divided for each month & you will get paid every month.
Rs 362.5 Interest Amount / 12 Months = Rs 30.20 Approx.
So every month your account will be credited Rs 30.20 for 12 months for Principle Amount of Rs 5000. Hope this clears your doubts.
Terms & Conditions
1. Maximum of Rs. 1 Lakh can be deposited into your account. Depositing higher amounts will cause your bank account close by Bank authorities.
2. Insurance is valid for 1 month only after you have created the account. However, this insurance can be renewed for next month easily.
3. Here, we have listed necessarily terms. For more information visit to Terms & Conditions – Airtel Payments Bank
4. Airtel users can also contact on 400 (Toll free). Non-Airtel users can contact on 8800688006.
Proof of Interests by Airtel Payments Bank
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