Bharti Airtel is entering into banking sector with Payments Bank today at New Delhi. Finance Minister Arun Jaitley will launch the banking services of Airtel Payments bank. As on January 12th, Airtel Payments Bank will be the India’s first payments bank.
PayTM also joining the league on 15th January 2017.
You can earn 7.25% interest on your Airtel Payment Bank account along with a free personal accident insurance cover of Rs.1 Lac.
Airtel has first started its payments bank as a pilot project in Rajasthan across 10,000 retail outlets on November 23, 2016, and later they rolled out pilot services in Karnataka, Andhra Pradesh and Telangana.
Now anyone can register for the Payments Bank in a few clicks on the Airtel mobile app.
How to register for Airtel Payments Bank?
Step 1: Download the latest Airtel money app or update the app if you already have and login.
Step 2: Go to the new tab “Payments Bank“
Step 3: Now click on Register for Payments Bank
Step 4: Enter your Adhaar number
Step 5: Mention your details like Occupation, Annual Income and PAN number
Step 6: Now give the nominee details to avail benefits of Insurance.
Your account is now successfully migrated to Airtel Payments Bank from Airtel Wallet. You can still use your old money in your Airtel amount, but now you will earn interest too.
After you have successfully registered, you can check in your Payments Bank profile for the Online Card and can use the card like normal debit cards for online payments. You will be provided with a card number and CVC code in the back. The Online Card registered will be valid for 4 years.