Airtel’s ‘Rewards123’ Digital Savings Account now available at Rs 299 annual fee

Airtel Payments Bank last week formally launched its new saving account – Rewards123 to give more value to customers when they transact digitally using the bank account. The Rewards123 account is designed to offer consistent value with assured rewards on different types of digital transactions throughout the year. The new savings bank account gives multiple benefits to users with an annual earnings of upto Rs 960.

Airtel Payments Bank customers can easily open or upgrade to Rewards123 through the Airtel Thanks app using Video KYC. The process is simple and can be completed within few minutes from the app anywhere across the country. Airtel Payments Bank customers can get Rewards124 at an annual fee of Rs 299 only.

The benefits includes Load Money Benefits wherein customers get 1% cashback for loading Rs 1000 through UPI in their account. The customer gets a maximum of Rs 10 per month. Airtel Payment Banks customers also get Shopping Rewards wherein customers get 2% cashback on online shopping of Rs 1000 or more using the platinum debit card that comes with the account. The customer gets a maximum of Rs 40 per month. One also gets Payments Benefits including Rs 30 cashback per month on payments for prepaid recharges, postpaid, broadband, landline, and DTH payments. Apart from this one gets zero minimum balance, free Platinum online MasterCard debit card and unlimited deposits with Auto-Sweep facility.

“Our research reflected that digitally ready, time sensitive consumers, seek consistent value during transactions, and are tired of surfing for the next best deal. With this insight, we developed Rewards123, a consistent value-driven proposition, which can be used safely as a separate account for digital transactions. This is India’s only bank account that offers regular rewards every month to customers on digital transactions. This innovation is an important addition to our neo-banking proposition of simple, secure, and value-driven solutions, and will further India’s mission of digital inclusion”

Anubrata Biswas, MD and CEO of Airtel Payments