Airtel Payments Bank (6% interest on deposits over 1 lakh)

mhsabir

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Wont be surprised if other banks follow as well. PPF and other savings schemes reduced. Rumours of EPF further reducing. Lower FD rates - Its a matter of before general savings rates also drop.
 

mhsabir

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And in two months time. Its down to 2.5% from June 10.

Soon they will be like bank lockers. If you want to keep anything in account, pay us charges.
 


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Cash deposit limits have been revised too.

Hello! Monthly free cash deposit limit on your Airtel Payments Bank savings a/c is revised to Rs.10,000 effective 01-July-2020. Beyond limit charge: 0.5% upto Rs.50,000 & 0.75% beyond Rs.50,000
 

Sushubh

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i mean i was surprised when yes bank added this after sbi took over management. but a company like airtel charging for them seems like crazy.
 

mhsabir

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I guess it's a polite way of telling people to close the dummy accounts, so they can wrap up with a sale
 

mhsabir

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Closed my Airtel Payments Bank account. Good riddance I suppose.

I was not keeping any money there. So did not makes sense to pay SMS charges for messages that will keep reminding me that I dont have money in that account.
 

Navjot Singh

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Airtel Payments Bank on Monday said that its customers will get an increased interest rate of six per cent per annum on savings account deposits of over ₹1 lakh.

This follows Airtel Payments Bank becoming the first payments bank to implement the enhanced day-end savings limit of ₹2 lakh as per the Reserve Bank of India (RBI) guidelines, it said.