Airtel Rewards123 Banking Account – Pay INR299 and get rewards up to INR960

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        To encourage folks across India to experience the Joy of Safe Digital Banking Transactions, Airtel Payments Bank has unveiled ‘Airtel Rewards123 Banking Account’.

        The Airtel Rewards123 Banking Account, is a subscription-based digital banking account, to encourage account holders to do all their banking transactions digitally only.



        Existing account holders viz ‘Bharosa Savings Account’ can upgrade to ‘Airtel Rewards123’, Savings Bank Account via the Airtel Thanks APP.

        The Rewards program is a unique feature to attract customers to

        Visible drawback - the insurance of free accident cover of INR5,00,000/ - offered in ‘Bharosa Savings Account’ account is withdrawn on migration from ‘Bharosa Savings Account’ to ‘Airtel Rewards123’,.

This is a major pain point, hopefully account holders’ feedback, will encourage Airtel Payments Bank product team to revisit this glitch.

Monetary Rewards linked to Airtel Rewards123 Banking Account:

Annual Cashback Rewards of Rs.960 spread over 12 months as below: -

A) 1% cashback on loading Rs.1000 through UPI (Max. Rs.10/month) i.e INR120/- per year

B) 2% cashback on min. Rs.1000 of online purchases with your debit card (Max. Rs.40/month) i.e INR480/- per year

C) Flat Rs.30 Cashback on min. Rs.225 Mobility Prepaid, Postpaid, Broadband/Landline, DTH bill payment/recharges Max INR360/- per year i.e Balance of INR960/- Minus INR 600/- = INR360/-

 

Non-Monetary Rewards: -

ii. Free Platinum Online Mastercard Debit Card

iii. Unlimited Deposits with Auto-Sweep Facility (Sweep account opened in Partnership with Suryoday Small Finance Bank, enables to you to save more than 1L (wait for few days for change from 1 Lac to 2 lacs) with Airtel Payments Bank.)

Please note as per the details available on Airtel website @ https://www.airtel.in/bank/rewards123, this is a pure digital banking account, hence

1)   No physical debit card will be issued

2)  No cheque books will be issued

Quote

"With a minimum monthly balance requirement of just Rs 500, ‘Bharosa’ account offers free accident cover of Rs Five Lakhs"

Unquote

 

Disclaimer: These are my personal views only. The bottom line is Mission #LessCashNotCashLess

 

 

 

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