For promoting the cause of Financial Inclusion in the country, Airtel Payments Bank has launched “Bharosa” savings account services. In addition to convenient banking services, Bharosa savings account would also offer Rs 5 lakh personal accident insurance on maintaining a balance of Rs 500 along with at least one debit transaction per month.
Customers who will open an account under the ‘Bharosa’ and allow government subsidies in their Bharosa account or if they made cash deposits in it, would also be eligible for cashback, the company said in a statement.
“The benefits of this product will be further amplified through a structured roadway for the phased introduction of other features linked to formal banking. To begin with, it will be available at over a quarter-million banking points. Bharosa savings account customers can also withdraw cash, check their balance or access a mini statement of their account at over 6,50,000 AePS (Aadhaar-enabled payment system) enabled outlets across India,” it said. Airtel Payments Bank offers digital banking services through a network of 5,00,000 neighbourhood banking points spread across the country.