Highlights
New rates for deposits of over Rs 1 lakh.
Upto Rs 1 lakh @2.5% p.a. interest rate.
New Delhi: Airtel Payments Bank has said that its customers will get an increased interest rate of 6% p.a. on savings account deposits of over Rs 1 lakh.
This follows Airtel Payments Bank becoming the first payments bank to implement the enhanced day-end savings limit of Rs 2 lakh as per the Reserve Bank of India (RBI) guidelines.
Airtel Payments Bank Savings Account Interest Rates from May 1, 2021
Rs 1-2 lakh: 6% p.a.
Upto Rs 1 lakh: 2.5% p.a.
The new interest rate regime is an important addition to the Bank’s suite of simple, secure, and rewarding solutions. Customers can now open an Airtel Payments Bank account within few minutes with a video call from the Airtel Thanks app, the company said.
6 per cent interest on deposits of over Rs 1 lakh: Airtel Payments Bank
Airtel Payments Bank on Monday announced that customers with savings account deposits of over Rs 1 lakh will get an increased interest rate of 6 per cent per annum.
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| A+A A- By Express News Service
CHENNAI: Airtel Payments Bank on Monday announced that customers with savings account deposits of over Rs 1 lakh will get an increased interest rate of 6 per cent per annum.
The payments bank s offer comes after the RBI implemented guidelines for an enhanced day-end savings limit of Rs 2 lakh for payments banks.
Airtel Payments Bank currently has over 5.5 crore engaged users across its operations, its statement said, adding that the interest rate for accounts with less than Rs 1 lakh deposit will be at 2.5 per cent per annum.
Airtel Bank offers 6% interest rate for deposits over ₹1 lakh
May 03, 2021
Airtel Payments Bank has over 55 million engaged users across its operations Airtel Payments Bank on Monday said that its customers will get an increased interest rate of six per cent per annum on savings account deposits of over ₹1 lakh.
While the interest rate for deposits over ₹1 lakh to 2 lakh is six per cent, deposits up to ₹1 lakh is 2.5 per cent per annum (effective May 1), the company said in a statement.
This follows Airtel Payments Bank becoming the first payments bank to implement the enhanced day-end savings limit of ₹2 lakh as per the Reserve Bank of India (RBI) guidelines, it said.
Synopsis
Announcing the higher interest rate on savings account deposits of over Rs 1 lakh, Anubrata Biswas, CEO of Airtel Payments Bank, said, RBI s increased savings deposit ceiling is a major milestone for payments banks as this was a key ask from customers .
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Airtel Payments Bank on Monday announced its customers will get an increased interest rate of 6 per cent per annum on savings account deposit of over Rs 1 lakh. The move follows Airtel Payments Bank becoming the first payments bank to implement an enhanced day-end savings limit of Rs 2 lakh, as per the Reserve Bank of India (RBI) guidelines, the company said in a statement.
Airtel Payments Bank offers 6% per annum interest on deposits of over ₹1 lakh
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. Updated: 03 May 2021, 04:40 PM IST PTI
The move follows Airtel Payments Bank becoming the first payments bank to implement an enhanced day-end savings limit of ₹2 lakh
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New Delhi: Airtel Payments Bank on Monday announced its customers will get an increased interest rate of 6 per cent per annum on savings account deposit of over ₹1 lakh.
The move follows Airtel Payments Bank becoming the first payments bank to implement an enhanced day-end savings limit of ₹2 lakh, as per the Reserve Bank of India (RBI) guidelines, the company said in a statement.