6 per cent interest on deposits of over Rs 1 lakh: Airtel Payments Bank

CHENNAI: Airtel Payments Bank on Monday announced that customers with savings account deposits of over Rs 1 lakh will get an increased interest rate of 6 per cent per annum.

The payments bank’s offer comes after the RBI implemented guidelines for an enhanced day-end savings limit of Rs 2 lakh for payments banks.

Airtel Payments Bank currently has over 5.5 crore engaged users across its operations, its statement said, adding that the interest rate for accounts with less than Rs 1 lakh deposit will be at 2.5 per cent per annum.