All you need to know about Airtel saving account feature

Linda J. Dodson
Bharti Airtel hits all-time high on robust outlook; stock up 20% in 3 weeks  | Business Standard News

If you wish to open bank account online, Airtel is now offering the option to create a savings bank account with them. With Airtel Payments Bank, you can open a savings account with a paperless process within a few minutes. The process is based on e-KYC authentication through Aadhaar. If you wish to open an account, you can visit a nearby Airtel retail outlet in the neighbourhood along with your Aadhaar number. In order to complete the KYC, however, you would need an active mobile number, your Aadhaar card and PAN card.

Let us try to know a little more about the Airtel Payments Bank saving account.

Airtel Payments Bank offers a one-step solution to traditional banking problems like lengthy procedures and endless queues. You will not need to go through these bothering procedures in order to open a savings account. Airtel Payments Bank has made the entire process of opening a savings account completely paperless. Here are some of the key features that you need to know.

  • Easy accessibility with more than 5 lac banking points – No bank can provide you access to as many ATMs or branches as you can get through Airtel. This will give you easy access to your money whenever you need it. This offers an easy way out whenever you are in dire necessity of cash and you do not have enough time to wait at the queues in banks.
  • Good interest rate – Airtel Payments Bank offers 2.5% interest for the balance that stays in your account at the end of the day. If the balance in your account is somewhere between Rs. 1 lakh and 2 lakhs, you will be earning 6% interest. This is definitely a great reason to open savings account with Airtel Payments Bank.
  • Free personal accident insurance cover – The online saving account from Airtel Payments Bank will also get you a free personal accident insurance cover of Rs. 1 lakh.
  • No minimum balance – A major problem with all banks is the criteria of minimum balance. If you have a savings account with a bank, you will need to maintain a minimum account balance if you would like to enjoy the benefits of a savings account. However, this is not the case with Airtel Payments Bank. This makes the savings account from Airtel Payments Bank a great choice.
  • A virtual debit card – As you open bank account online with Airtel Payments Bank, you will get a virtual debit card. Since this is a virtual card, you do not run the risk of losing or misplacing the same. This card can be used for online transactions.

You can even use the Airtel Thanks app to know about the details of your savings bank account. Airtel Payments Bank is offering a lot of features. This includes card-less withdrawals from more than a lakh ATMs in the country.

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