Bharti Airtel on Sunday said over 10,000 customers have opened savings accounts with Airtel Payments Bank within first two days of going live.
Airtel Payments Bank is the first Payments Bank to go live in the country with the roll-out of pilot services in Rajasthan.
Airtel Payments Bank offers interest rate of 7.25 percent per annum on savings accounts deposits, the highest in India. Customers also get personal accident insurance of Rs 1 lakh with each account in Airtel Payments Bank.
Many customers in semi-urban and rural areas of Rajasthan opened accounts, underlining the massive potential for growth of banking services in these areas.
In Rajasthan, Airtel Bank has rolled out pilot services across 10,000 Airtel retail outlets, which also acts as banking points. Two-thirds of these banking points across Rajasthan are in rural areas. Airtel Bank plans to have a network of 100,000 merchants (shops) across Rajasthan by the end of the year.
All these merchants will accept digital payments via Airtel Bank using a mobile phone. Airtel will not charge any processing fee from merchants for this facility.
