Airtel Payments Bank Now Offers One Minute Talk Time for Every Rupee Deposited in Bank

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Airtel Payments Bank Now Offers One Minute Talk Time for Every Rupee Deposited in Bank

Airtel Payments Bank, part of Telecom Giant Bharti Airtel, has offered customers opening a savings account one minute of talk time on their Airtel mobile for every rupee deposited. 

If a customer opens an account with a deposit of Rs 1,000 then he/she will get 1,000 minutes of free talk time on his/her Airtel mobile number, the Telco said in a statement Friday. The talk time can be used for Airtel to Airtel calling all over India. 

Note here, that Airtel’s mobile number would be the bank account number of the user, hence, implementing this offer won’t be an issue. The talktime would be applicable for all calls made insider India; and only first time deposits can be converted into talktime. Thus, it is a one-time offer.

Airtel Bank Expansion Plans

As of now, Airtel Bank’s features can be used across 10,000 merchants in Rajasthan, as their payments bank has only been launched in that state as of now. As per Shashi, Airtel will soon bring in more than a lakh merchants and traders into their platform, which will ensure wider acceptance and usage of their payment banks.

The merchants have been promised that there would be no additional charge for accepting payments via Airtel Payment Bank.

Right now, Airtel is offering 7.25% on deposits made in their payment bank (savings account), which has been described as ‘highest in the industry’.

Along with their high interest rate and innovative offers like talktime based on deposits, Airtel is aiming for maximum outreach.

Earlier, Airtel announced a blockbuster start of their payments bank as they were able to add 10,000 new customers within 2 days of their launch. Kotak Mahindra owns 19.9% stake in Airtel Payment Bank, as they have invested Rs 99 crore earlier this year.

The license of Airtel’s Payment Bank was granted by RBI to Airtel Money (Airtel’s mobile wallet) and Kotak Mahindra Bank in April this year, which made them first JV to receive the license.

All eyes are now set on Paytm which has been aggressively preparing for the launch of their own payment bank. Banking customers are certainly expecting lot more innovative features and new schemes, never seen or experienced in India before.

 

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