Airtel Payments Bank unveils ‘Rewards123Plus’ savings account with 6% interest


Investment

oi-Vipul Das

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Airtel Payments Bank announced the introduction of the Rewards123Plus digital savings account, following the launch of its flagship Rewards123 savings account. In addition to the benefits guaranteed on a wide variety of digital transactions, it also offers an annual subscription to Disney + Hotstar Mobile. Using the Airtel Thanks app, customers can open or digitally upgrade their old Rewards123 savings account to a Rewards123Plus account.

According to the telecoms giant’s announcement, individuals can access Rewards123Plus for an annual subscription of Rs 499 and enjoy various benefits such as:

  • Disney + Hotstar subscription 1 year Disney + Hotstar mobile subscription (value of Rs. 499)
  • Advantage Load money – Lump sum reimbursement of 10 INR once a month on adding money via UPI (minimum transaction amount 1000 INR)
  • Payment benefits – Lump sum reimbursement of INR 30 once a month on payments for prepaid mobile top-ups, postpaid, broadband, landline and SRD mobile payments (minimum payment amount INR 225)
  • Interest rate – Rewards123Plus savings account customers will also get 6% interest on balances between 1 lakh INR and 2 lakhs, a minimum balance of zero and unlimited deposits with the Auto-Sweep feature.

Airtel Payments Bank said in the announcement that “once the customer has opened or upgraded to Rewards123Plus, they can log into the Disney + Hotstar website (https://www.hotstar.com/in) or the app using their registered number to activate With this subscription, customers can access Disney + Hotstar’s extensive library of international and local content in eight languages ​​as well as LIVE streams from top sports tournaments, including the next IPL 2021 which will start on September 19. “

Ganesh Ananthanarayanan, COO, Airtel Payments Bank, said: “In keeping with our commitment to providing guaranteed monthly benefits to Rewards123 customers on digital transactions, we have introduced Rewards123Plus which also caters to their entertainment needs. We are excited to partner with Disney + Hotstar to bring the Membership Benefit to our customers. We plan to add more benefits to our Rewards123 offering in the future. “

How do I upgrade to the Rewards123Plus digital account?

1. Log into the Airtel Thanks app and go to the banking tab.
2. Click on the Rewards123Plus banner or scroll down to click on “Rewards123 Savings Account”.
3. Select Rewards123Plus from the options and complete payment to enjoy the benefits.

To note:

Currently, SBI offers an interest rate of 2.70%, Axis Bank, HDFC and ICICI Bank promise an interest rate of 3 to 3.5% on savings accounts depending on the end-of-day balance or the daily declining balance. By comparing the same rates on Airtel Payments Bank savings accounts, you are making it clear which one you should go for your short or emergency needs. Even the 6% interest rate on Rewards123Plus savings is much higher than the interest rates on SBI term deposits. In addition to the interest rate, you can digitally open and manage your Rewards123Plus account using the Airtel Thanks app, which saves you time.

Article first published: Monday, September 20, 2021, 10:06 am [IST]

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