Online payments do away with the need of carrying cash – no need to stress if you fall short on money for entertainment or emergency, no need to stand in queues to pay utility and other bills, no need to worry about getting candy instead of change when you pay for a product, no need to fret if your loved one is stuck without money and needs it instantly - the list of advantages is quite endless. There is one additional advantage – the interest rate – a major telecom service provider in India is offering all its customer a rate of interest of 7.25% for deposits made to its payment bank.
Yes, you read that correctly, the first payment bank of India, is offering 7.25% on your savings account. It is the highest interest that is offered by a private player. It is very easy to begin earning this amount, all you have to do is ‘download my Airtel app’ and your mobile number becomes your account number. The time it takes to type in your mobile number, enter the OTP and fill in your personal details is all the time you need to open you own savings account with the company. The whole exercise takes less than three minutes.
Once you have the Airtel app on your phone, you can shop without worrying about getting cheated out of a few rupees every time you purchase something. If for some reason, there is no money in your payment bank, you can instantly recharge with an online debit card. You never have to worry about not being able to pay for necessary or emergency expenses. The app also acts as an ATM card and allows you to withdraw cash at the many banking points set up by the telecom major as well as pay all utility and other bills. Also, if your best friend or family member is stuck without money or access to their bank, with the help of the app, simply transfer an amount to them. Or use your app to recharge their plan and keep them connected on the go.
The app is not all about ease, it is about earnings also. As said earlier, you can earn an interest on your deposit. For every Rupee you deposit, you are entitled to earn an equivalent amount of talk time. So, if you deposit Rs. 500 to your account, you will get 500 minutes of additional talk time. Along with talk time, earn 7.25 per cent interest on your deposit of Rs. 500/- But, that’s not all, the company is also offering a free personal accident insurance cover, for an amount of Rs. 1 lakh. In the unfortunate scenario, if you are ever in an accident, you can concentrate your energies on getting better as your medical expenses are met with the insurance policy.
All the above advantages are available on the app installed on your mobile phone. Earning the best rate of interest 7.25 per cent - on your account, is one of the major factors on why you should choose the Airtel Payments Bank. However, spending equivalent of talk time, getting yourself insured against accident and enjoying all the other facilities that the app offers, are just as important for choosing the very easy to install, and use, app.