Airtel Payments Bank launches Bharosa Savings Account; maintain just Rs 500 balance

[rahul1117kumar]

Airtel Payments Bank today launched Bharosa Savings Account. This has been designed to serve the needs of underbanked and unbanked customers, and also to contribute to the government’s vision of financial inclusion. The Bharosa Savings Account offers free Personal Accident Insurance cover worth Rs 5 Lakh on maintaining a balance of just Rs 500 along with one debit transaction per month, besides offering convenient banking services, said a company statement.

Customers will be also eligible for cashback - if they decide to receive government subsidies in their Bharosa Account or if they make cash deposits in it, said the company, adding that the Bharosa has been designed on the basis of extensive market research.

Airtel Payments Bank launches Bharosa Savings Account; maintain just Rs 500 balance

 

[unirockers]

f they make cash deposits in it

How. can we deposit cash?

 

[rahul1117kumar]

How. can we deposit cash?

Customer can deposit cash at any Airtel Payments Banking Point with just a Secure KEY. SecureKEY is nothing but an OTP sent to customer's mobile after the Banking Point clicks on Cash deposit and enters customer's mobile number followed by the amount to be deposited.

 

[Abhi]

Will It applicable on existing customers also??

 

[unirockers]

Airtel Payments Banking Point

Are these same as airtel stores?

 

[rahul1117kumar]

Are these same as airtel stores?

yes

Will It applicable on existing customers also??

no information about it yet.

 

[Abhi]

Just Received This Message on my phone regarding my Airtel Payments Bank Savings Account

 

[Homer]

I closed my savings account and now wallet is also disabled.

 

[Abhi]

I closed my savings account and now wallet is also disabled.

How You have closed your savings account??

 

[Bapun]

I closed my savings account and now wallet is also disabled.

Yes. Airtel has this policy. Due to this reason i reopened my Payments bank account doing re-kyc.

Once you upgraded to payments bank from wallet there is no way to go in reverse way.

How You have closed your savings account??

Email at [email protected] or tweet them. They will ask a few things such as reason before closing. Your kyc data is removed which is why you need to do re-kyc to re access payments bank on same number again.