Airtel Payments Bank here on this Tuesday announced the launch of ‘Bharosa savings account’ initiative, planned for strengthening the economic inclusion of the country.This savings account will allow consumers to withdraw money, check account balance and also access mini bank statement linked with over 6, 50,000 Aadhaar Enabled Payment System (AePS) outlets from all across this country, Airtel Company declared in its latest statement. ‘Bharosa’ savings account will also cover a free accident insurance of rupees 5 lakh. But, this free insurance coverage for personal accident will be given only if a minimum balance of rupees 500 is maintained alongside at least one debit transaction is done every month, the company stated.
After receiving government provided subsidies in the personal ‘Bharosa savings account’ or on doing cash deposits in the account, customers might also get good cashback.
Airtel Payments Bank added that it aims to generate more formal banking behaviors in terms of usage, transactions and profiling of customers through an efficient bank account system, which can all be accessed through a vintage point more closely beneficial to the underserved population. Bharosa account has been designed on the basis of extensive market research,” it said.
The savings account would be made available in more than one quarter-million banking zones of Airtel Payments Bank. One can even visit their closest banking point to open their ‘Bharosa savings account’.
“The benefits of this product will be further amplified through a structured roadway for phased introduction of other features linked to formal banking,” added Anubrata Biswas, Managing Director and Chief Executive Officer of the Airtel Payments Bank.
Beside these, Airtel Payments Bank will also provide digital banking services to all its customers through a uniform network of around 5, 00,000 neighborhood banking points accessing almost all states India, as per as the company the release.