Airtel Payments Bank on Monday slashed its interest rate by as much as 175 basis points (bps) to 5.5 per cent per annum, effective Thursday.
The payments bank, first such to launch in 2017, said the management was trying to keep rates competitive and was keeping it higher than or at par with competition. “An attractive interest rate of 7.25 per cent was an introductory offer, given that Airtel Payments Bank was leading the roll-out of a completely new segment of banking services in the country. The revised interest rate continues to be the highest in the payments bank ...
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