Hyderabad, May 3, 2021: Airtel Payments Bank today said that its customers will get an increased interest rate of 6% p.a. on savings deposits of over Rs. 1 lakh.
This follows Airtel Payments Bank becoming the first payments bank to implement the enhanced day-end savings limit of Rs 2 lakh as per the Reserve Bank of India (RBI) guidelines.
Anubrata Biswas, MD, and CEO, Airtel Payments Bank, said, “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.”
Airtel Payments Bank Savings Interest Rates from May 1, 2021
| Rs 1-2 lakhs | 6% p.a. |
| Upto Rs 1 lakh | 2.5% p.a. |
The new interest rate regime is an important addition to the Bank’s suite of simple, secure, and rewarding solutions. Customers can now open an Airtel Payments Bank within few minutes with a video call from the Airtel Thanks app. The bank offers a digital savings – Rewards123, which gives more value to customers when they transact digitally using the . Furthermore, customers who have an Airtel number linked to their savings can also enable Airtel Safe Pay – India’s safest mode for making digital payments.
Airtel Payments Bank has over 55 million engaged s across its operations.
