Airtel Payments Bank Unveils ‘Rewards123Plus’ Savings Account With 6% Interest

Airtel Payments Bank announced the introduction of the Rewards123Plus digital savings account, following the debut of its flagship Rewards123 savings account. Along with the guaranteed perks on an extensive variety of digital transactions, it also provides an annual membership of Disney+ Hotstar Mobile. By using the Airtel Thanks app customers can open or upgrade their old Rewards123 savings account to Rewards123Plus account digitally.

According to the telecom giant's announcement, individuals can access Rewards123Plus for an annual subscription of Rs 499 and enjoy a variety of advantages such as:

• Disney+ Hotstar Subscription 1 Year Disney+ Hotstar Mobile Subscription (worth Rs. 499)
• Load Money benefit - Flat INR 10 cashback once per month on adding money via UPI (minimum transaction amount INR 1,000)
• Payment Benefits - Flat INR 30 cashback once per month on payments for mobile prepaid recharges, mobile post-paid, broadband, landline, and DTH bill payments (minimum payment amount INR 225)
• Interest rate - Rewards123Plus savings account customers will also get 6% interest on balances between INR 1 lakh - 2 lakhs, Zero minimum balance, and unlimited deposits with Auto-Sweep Facility.

Airtel Payments Bank has said in the announcement that "Once the customer has opened or upgraded to Rewards123Plus, they can log in to the Disney+ Hotstar website (https://www.hotstar.com/in) or app using their registered number to activate the subscription. With this subscription, customers can access the wide library of Disney+ Hotstar comprising international and local content in eight languages along with LIVE streams of the biggest sporting tournaments including the upcoming IPL 2021 which starts on September 19."

Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, acknowledged, "Aligned with our commitment to give assured monthly benefits to Rewards123 customers on digital transactions, we have introduced Rewards123Plus that also meets their entertainment needs. We are delighted to associate with Disney+ Hotstar to offer the subscription benefit to our customers. We plan to add more benefits to our Rewards123 offering in the future."

How to upgrade to Rewards123Plus digital account?

1. Login to 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 make the payment to enjoy the benefits.

Note:

Currently, SBI is offering an interest rate of 2.70%, Axis Bank, HDFC, and ICICI Bank are promising an interest rate of 3 to 3.5% on savings accounts depending on the end-of-day balance or daily reducing balance. Comparing the same rates on savings accounts of Airtel Payments Bank, clearly states which one you should go for when it comes to your short or emergency needs. Even the 6% interest rate on Rewards123Plus savings is much higher than the interest rates on fixed deposits of SBI. Apart from the interest rate, you can open and manage your Rewards123Plus account digitally using the Airtel Thanks app which is a sign of your time-saving.