Airtel Payments Bank has expanded its presence – on pilot basis — to Andhra Pradesh and Telangana with 15,000 Airtel retail outlets in towns and villages offering convenient banking services.
Earlier, Airtel Payments Bank started its operations in Rajasthan on pilot. In Rajasthan, Airtel Payments Bank has added over 100,000 savings account customers.
In Andhra Pradesh, Telangana and Rajasthan, Airtel Payments Bank is offering an interest rate of 7.25 percent per annum on savings account deposits and personal accidental insurance of Rs 1 lakh with every savings account.
Airtel customers will also get one minute of Airtel mobile talk time for every rupee deposited.
Airtel Payments Bank aims to develop a pan-India network of over three million retail merchants to offer customers the convenience of cashless purchase of goods or services by using their mobile phones.
In Andhra Pradesh and Telangana, Airtel Payments Bank is rolling out pilot services across 8,000 Airtel retail outlets in Andhra Pradesh and 7,000 outlets in Telangana, which also acts as banking points. 70 percent of these banking points are in rural areas.
“We have received an extremely positive response from customers in Rajasthan and would like to replicate the same in AP and Telangana before we rollout our services nationally,” said Shashi Arora, MD and CEO – Airtel Payments Bank.
