Airtel Payments Bank has started pilot services in Rajasthan, India.
More than 10,000 Airtel retail outlets in towns and villages across Rajasthan will function as banking points and offer mobile banking services to customers.
Airtel Payments Bank offers interest rate of 7.25 percent per annum on savings account deposits.
A network of over 100,000 merchant shops in Rajasthan will be accepting digital payments from Airtel Payments Bank. Customers can make cashless purchase of goods/services using their bank accounts / mobile wallets.
Airtel Bank is the first payments bank in the country to start digital banking. Customers in Rajasthan’s towns and villages can open bank accounts at Airtel retail outlets. Airtel shops will function as Airtel banking points and offer basic banking services.
Facts about Airtel Bank
Airtel’s Digital Banking offers paperless account opening using Aadhaar based e-KYC facility. Customers need not offer any documents to start an account. They need only their Aadhaar number.
Customer’s Airtel mobile number will be his/her bank account number.
Customers can make money transfer to any bank account in India. Airtel Bank is offering free money transfer from Airtel to Airtel numbers within Airtel Bank.
Customers will get Personal Accidental Insurance of Rs 1 lakh with every Savings Account.
“With this pilot, we have taken a big step towards the launch of our banking services and will be testing our operational readiness for full-scale launch across India,” said Shashi Arora, MD and CEO of Airtel Payments Bank.
Airtel customers can access Airtel Bank’s services on their mobile phones through the Airtel Money app, through USSD by dialing *400#; or via a simple IVR by dialing 400. Both the USSD and IVR options are available in Hindi and English language and work on both feature phones and smartphones.
Non Airtel customers can access Airtel Bank’s services by dialing 8800688006. Customers can visit select Airtel retail outlet to access services and not just the outlet where they have opened the account.
Anyone (non-Airtel customers also) with an Aadhaar card can open a Savings Account with Airtel Bank.
A Customer can open an account by visiting a designated Airtel retail outlet. No documents are required. Only the customer’s Aadhaar number is needed for opening an account. The account will be opened through a paperless process within minutes through Aadhaar based e-KYC authentication.
Airtel Bank does not offer ATM/Debit Card facility, at present. Customers can deposit withdraw cash at select Airtel retail outlets, which will function as Airtel banking points.
At Airtel Bank, customers can check their account balance, access other services using Airtel Money app, USSD or IVR over their mobile phones.
Customers can access money transfer services using the the Airtel Money app or through USSD by dialing *400#. Money transfers from one Airtel number to another Airtel number within the bank will be free.
