Airtel Payment Bank is a digital Indian bank that allows people to open paperless savings accounts in just a few steps. Anyone can open a bank account and deposit up to Rs. 1 lakh in the account. Bharti Airtel Limited holds 80.01% stakes, and Kotak Mahindra Bank has 19.9% stakes in Airtel Payment Bank.
There is no minimum amount to open an account, and once the account is opened, the user gets a virtual debit card which he can use to make online and offline payments. The annual interest provided by the bank is 2.5%, and it also offers free personal insurance of Rs.1 lakh.
Services offered by Airtel Payment Bank:
- Easy money transfer to friends and family
- Utility bills payment
- DTH/mobile recharges
- Deposits and withdrawals with banking points
How to open an account?
The process of opening an account is very straightforward. You just need to follow the few steps mentioned below:
- Visit a nearby Airtel retail outlet and submit your Aadhar card.
- You can also open an account by downloading the My Airtel App from the Google play store.
- Click on payments bank and finish one-time registration.
- Submit your personal details like name, email id, and mobile number. Once done, click on register now. You will get an OTP on your mobile phone, which you will need for verification.
- Once you are verified, you will need to enter a 4-digit PIN to activate your wallet.
- Under ‘my profile tab,’ you can click on Apply for a saving account.
How to recharge mobile on Airtel Payment Bank?
Using Airtel Payments Bank, mobile users can recharge their mobile easily without any payment fee. The only thing you need for mobile recharge is a savings account from Airtel Payments Bank or an Airtel money wallet. There are few steps that you can follow for prepaid mobile recharge using the website Airtel payments Bank:
- Visit the website and log in by using the MPIN.
- Now click on the payment and recharge tab.
- Select ‘post-paid’ and select the service provider.
- Once done, enter your mobile number and the amount you want to pay.
- Hit proceed and make the payment.
This is one of the simplest ways to recharge any mobile number like Airtel, BSNL, Vi, Jio recharge using Airtel Payments bank. Airtel payment bank has made prepaid recharge easy by simplifying the process of making payment. The mobile-only bank is getting popular day by day due to its benefits to its users. On every recharge, the company offers a few discounts and cashback to its users, which people are finding quite lucrative as it helps them save some money.