Today Airtel Payments Bank has announced the launch of its Bharosa Savings Account, unique savings account scheme for those who have not been able to open a savings account yet or who are still deprived of minimal ideals regarding banking. Airtel Payments Bank says that this step has been taken to make a contribution to the Government’s vision of financial inclusion.
Commenting on this announcement, Mr. Anubrata Biswas, MD & CEO, Airtel Payments Bank, said, “We are delighted to launch Bharosa Savings Account—a truly innovative, differentiated and relevant offering designed to address the needs of the financially underserved. This product stands apart in the Indian banking sector in being user-need focused, developed after months of extensive research, and designed to introduce millions of consumers to formal banking. It is an important addition to our existing bouquet of easy, accessible and convenient banking solutions that are aimed at serving the Government of India’s vision of financial inclusion.”
Anyone can open a Bharosa Savings Account at Airtel Payments Bank. Customers just need to maintain Rs. 500 minimum balance every month and have at least one debit transaction. By doing so, they will be entitled to free Personal Accident Insurance cover worth Rupees Five Lakhs. There are cashback as well for those who opt in to receive government subsidies in their Bharosa Account or if they make cash deposits in it.
Bharosa Savings Account by Airtel Payments Bank is being claimed to have been designed on the basis of extensive market research. Airtel Payments Bank is the first payments bank in India and again. this product is now available at over a quarter-million banking points. Apart from that, Bharosa Savings Account customers can also withdraw cash, check their balance or access a mini statement of their account at over 6,50,000 AePS enabled outlets across India.