Airtel Payments Bank gets 100,000 savings accounts in Madhya Pradesh

Airtel Payments Bank India
Airtel Payments Bank on Monday said it has crossed 100,000 savings accounts mark – including 70 percent in rural areas — in Madhya Pradesh.

Airtel Payments Bank has a network of over 30,000 Airtel retail stores across the state offering digital banking to customers.

Airtel Payments Bank plans to enable over 160 villages across the state to go cashless.

“Our differentiated banking model coupled with Airtel’s steady ecosystem has helped us extend our services to the unbanked and underbanked in the region, effectively. We look forward to continued support from our customers as we work together in bringing in a new era on banking in India,” said Shashi Arora, MD and CEO at Airtel Payments Bank.

Airtel Payments Bank has a network of over 250,000 Airtel retail stores. This is more than the total number of ATMs in the country. The Bank aims to scale its network to 600,000 banking points. Airtel Payments Bank has committed an investment of Rs 3,000 crore across its national operations.

Airtel Payments Bank services

# Paperless account opening using Aadhaar based e-KYC.

# Customer’s mobile number will be his / her bank account number

# Offers interest rate of 7.25 percent per year on deposits in savings accounts

# Offers one minute of Airtel mobile talk-time for every rupee deposited at the time of opening a savings account

# Customers can make money transfer to any bank account in India

# Free money transfer from Airtel-to-Airtel numbers within Airtel Payments Bank

# Offers Free Personal Accidental Insurance of Rs 1 lakh with every Savings Account

Users can access Airtel Payments Bank’s services on their feature phones as well through USSD by dialing *400#; or via a IVR by dialing 400. Both the USSD & IVR options are available in 12 local languages. Customers can also access services by dialing 8800688006 in addition to visits to any designated Airtel retail outlet to access services.