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 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 guidelines.
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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 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.
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