Airtel Payments Bank said that its customers will get an increased interest rate of 6% per annum on savings account deposits of over Rs 1 lakh.
“RBI’s increased savings deposit ceiling is a major milestone for payments banks as this was a key ask from customers. With an attractive 6% p.a. rate of interest on deposit sums in excess of one lakh, we are making our banking proposition even more rewarding,” said Anubrata Biswas, MD, and CEO, Airtel Payments Bank.
Airtel Payments Bank has over 55 million engaged users across its operations.