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

[mhsabir]

lol. Very straightforward strategy followed by guys like Airtel & IDFC - Promise more than anyone. - get a lot of deposits and then reduce in a matter of months.

 

[Sushubh]

Takes a second to withdraw funds. Not sure what they are trying to achieve. People looking for best interest won't just keep money in their accounts.

FD is the only way to lock funds.

 

[Smh]

With FD interest rate is also locked.

May be hoping the MAB (if any life IDFC) will be locked.

 

[Sushubh]

I have to maintain 25K in idfc. I have no reason to stay there. Indus give 5% over 1L balance. Would move there and shut down my account.

 

[ijsa]

Not sure what they are trying to achieve.

May be trying to keep up their books.... Some statutory requirement or of that sort of thing.....

 

[Sushubh]

i am otherwise quite happy with idfc. both indus and yes have fucked up yearly statement format. idfc format is fantastic. i would love to continue with them. but i cannot dump yes or indus at the moment coz of fds and other commitments. so the options are to keep it operational with 25K stuck in it or dump it. and since the bank has shown absolutely no shame in recent months. i mean they did not even send any emails about interest drop. i find out about interest rate change from here before local branch employees. lol. it's hilarious.

 

---

[Smh]

Yeah I still did not got any email about new rates 🤔

 

[mhsabir]

Airtel Payment Bank gets RBI approval to operate as scheduled bank

A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as ''Scheduled Commercial Bank''.

www.cnbctv18.com

 

[Jonas]

A maintenance charge of Rs.20(incl. GST) will be applied on your Airtel Money Wallet as you have not used it for the last 6 months. If you do not wish to have this charge applied, simply use your wallet for any transaction before 20-Jan-22. Please do refer https://i.airtel.in/Terms or call 8800688006 for details.

What the.

 

[Sushubh]

here i was annoyed with yes bank. they threaten to stop sending some sms alerts if you do not transact in a month. this is despite the fact that they started charging for sms alerts few months ago and you cannot disable them.

 

[Jonas]

I've not even done KYC for this Airtel wallet, and I don't see any option to add or send money using it. What is wrong with Airtel?

 

[Sushubh]

You have funds in this account?

 

[Jonas]

Rs. 10 in the wallet which I might have received as a cashback.

 

[Sushubh]

You would probably need to do kyc first. I would suggest forgetting about this.

 

[Navjot Singh]

Just use it for DTH or postpaid.