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

[popcorn]

huh

 

[mhsabir]

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.

 

[Sushubh]

dad wants me to explore nippon mutual funds when my fd mature later this year.

 

[mhsabir]

I think these were Reliance Mutual Funds earlier..

 

[Sushubh]

yeah. nippon acquired their mutual funds business from what i heard.

 

[mhsabir]

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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[mhsabir]

Received message - Hello! Monthly free cash withdrawal limit on your Airtel Payments Bank savings a/c is revised to Rs.5,000 effective 01-July-2020. Beyond limit charge: 0.65%

 

[Navjot Singh]

At this speed, by the end of this year, it will shut down.

 

[Citrus]

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

 

[mhsabir]

Dear Customer,Your Airtel Payments Bank Savings A/c will be charged with SMS alert fee of Rs.10 every 3 months w.e.f. 1-Aug-2020.For details call 400/8800688006

 

[Sushubh]

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.

 

[ijsa]

Vinaash Kale Vipreet Budhi.

 

[mhsabir]

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

 

[mhsabir]

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]

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.

Airtel Bank offers 6% interest rate for deposits over â¹1 lakh

Airtel Payments Bank has over 55 million engaged users across its operations

www.thehindubusinessline.com