Airtel Bank now live! 7.25 interest !!

Status
Not open for further replies.
RakaKaKaka said:
Transferring to other bank costs 0.5% and cash withdrawal is expensive.
Account closure costs 50rs.
Also giving talktime same as balance

Worth adding 60-70 k like a FD and enjoy some interest without worrying ??

http://www.airtel.in/wps/wcm/connec...f452b/Schedule-of-chargesNew1.pdf?MOD=AJPERES
Click to expand...

Too many wallets popping up these days. To be very honest I am happy with my Bank's app which helps me make payments and transfer money. Before the entire digitization and de-monetization terms came into play this was actually more than sufficient and secure.

Paytm probably the biggest gainer in all of this is okay but there are complaints against that as well as seen in another thread and the customer service is appalling. Mobikwik has it's own dedicated thread of complaints as well.

With banks either the payment was done or the amount would be stuck in limbo but the amount was secure in the sense that if the merchant didn't claim it the transaction would be rolled back.

Too many wallets only result in fragmentation which will ultimately render them useless as the receiver might be using a different app. Poor customer service simply adds to the woes.
 
@^ yeah but banks give 4% interest only. This gives 7.25 interest. If u put fd in bank u cant preclose them without losing interest. To me this is like a flexi FD, keep earning interest and use the cash for normal day to day use that you dont need to withdraw in cash.
 
FDs in banks are guaranteed by the Govt till Rs. 1 lakh. Not sure about FailTel.

DBS 'online only' bank, Yes & Kotak offer higher SB Ac rates compared wth other banks.
 
Major drawback of online only banks are there are no physical places where you can go in case of any problem. Just email and phone or FB/Twitter/etc will get you nowhere. Customer support hardly do anything even in physical stores, so I doubt they'll care online.
 
  • Like
Reactions: goDofWar_skr
RakaKaKaka said:
Transferring to other bank costs 0.5% and cash withdrawal is expensive.
Account closure costs 50rs.
Also giving talktime same as balance

Worth adding 60-70 k like a FD and enjoy some interest without worrying ??

http://www.airtel.in/wps/wcm/connec...f452b/Schedule-of-chargesNew1.pdf?MOD=AJPERES
Click to expand...
If money transfer charge is 0.5%, the effective interest rate is only 6.75%.
Yes Bank gives 6% interest rate for money kept as account balance. And money transfer charge is Rs.5.75 (Rs.5 + service tax)
 
  • Like
Reactions: ssslayer and adventureguy
I would much rather go with Kotak Mahindra Bank or Yes Bank, I cannot trust FailTel to provide me a good broadband connection or Mobile connection, no way going to entrust FailTel with my money.
 
  • Like
Reactions: adventureguy
RS4 said:
I would much rather go with Kotak Mahindra Bank or Yes Bank, I cannot trust FailTel to provide me a good broadband connection or Mobile connection, no way going to entrust FailTel with my money.
Click to expand...
hotshot05 said:
If money transfer charge is 0.5%, the effective interest rate is only 6.75%.
Yes Bank gives 6% interest rate for money kept as account balance. And money transfer charge is Rs.5.75 (Rs.5 + service tax)
Click to expand...
+1 for yes bank. Also their customer care is top notch. and their branches are usually empty and clean and bank people are courteous (atleast in hyd)
 
Would never bank with a lecherous organization like Airtel. Will probably be worse than ICICI -- which is the benchmark for a bad bank.
 
  • Like
Reactions: nimod
Status
Not open for further replies.
Top Bottom