How much interest rate will be offer by Airtel Payments Bank on savings accounts deposits?

Recently, the Airtel Payments Bank has officially launched its nationwide operations in all 29 states of India. It is the India’s first payments bank and is a fully-digital and paper-free bank . In it, the accounts will be opened by using e-KYC for which customers’ Aadhar number will be required. The bank is offering a 7.25% interest rate on savings accounts deposits and free personal accidental insurance cover of Rs. 1 Lac on every saving account. One can access the banking services by installing MyAirtel app on their smartphone or by registering online through Airtel site.