Telecom giant Bharti Airtel’s banking venture, Airtel Payment bank, has announced if a customer opens an account with a deposit of Rs 1,000, he or she will get 1,000 minutes of free talk time on his or her Airtel mobile number.
The talk time can be used for Airtel to Airtel calling all over India. This benefit is applicable on first time deposits only with a validity of 30 days, a media report quoted sources as saying.
Airtel Payments Bank launched its pilot services in Rajasthan last week to test its systems and processes ahead of full scale, pan-India launch. Customers residing in villages and towns of Rajasthan can now open bank accounts at Airtel retail outlets, which will also be Airtel banking points offering a range of basic, convenient banking services.
Airtel Payments Bank started the pilot with banking points at 10,000 Airtel retail outlets. Over 10,000 customers opened savings accounts with Airtel Payments Bank within the first two days of the first payments bank in India going live. Most accounts are in semi-urban and rural areas.
The payments bank, a subsidiary of the leading mobile phone operator Bharti Airtel, offers highest annual interest rate of 7.25% and insurance of Rs 1 lakh per account.
“We are confident this additional benefit along with the industry-best interest rate on deposits will encourage customers to open accounts with us and give a big boost to customer acquisition,” said Shashi Arora, Managing Director and Chief Executive Officer, Airtel Payments Bank, in the statement.