Payments Bank is the new model of banking developed by Reserve bank on India, and Payments Bank can only have deposits of upto Rs 1 lakh only(it may be increased in future) and can be operated by Savings and Current accounts only, and can provide ATM Debit cards, net banking. Payments Bank cannot issue credit cards and loans.

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List of Payments Bank

Currently there are only 3 Active Payments Bank are operating and Airtel Payments Bank is the first one to be granted followed by Paytm Payments Bank and India Post Payments Bank. However On 19 August 2015, the Reserve Bank of India gave “in-principle” licences to eleven entities to launch payments banks.

Airtel M Commerce Services*
Paytm*
Department of Posts – India Post Payments Bank*
Aditya Birla Nuvo
Cholamandalam Distribution Services*
FINO PayTech
National Securities Depository
Reliance Industries
Sun Pharmaceuticals*
Tech Mahindra*
Vodafone M-Pesa

Where * is Active, * is they have surrendered their licenses.

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Airtel Payments Bank Interest Rate

Airtel Payments Bank gives an interest of 7.25% and Airtel mobile number is the account number.

Airtel Payments Bank Transfer Charges

Service Charges for Airtel Money Prepaid Payment Instrument
Charges applicable for both Minimum KYC (Express wallet) and Full KYC (Power wallet).
If you transfer money to any other bank account you have to pay below charges,Free for other Airtel Payments Bank account.

From Amount	To Amount	Transfer Charges
Rs 0	Rs 50	Rs 2
Rs 51	Rs 1000	Rs 20
Rs 1001	Rs 2000	Rs 40
Rs 2001	Rs 3000	Rs 60
Rs 3001	Rs 4000	Rs 80
Rs 4001	Rs 5000	Rs 100

You can only send Maximum of Rs 5000 per transaction

For withdrawls you will have to pay 0.65% of the amount, you can Withdraw cash at any of Airtel Banking Points.

Airtel Payments Bank Other Features

While opening an Airtel Payments Bank Account For every Rupee that you deposit, you get equivalent talk time.
Free personal accident insurance cover of Rs 1 lakh

Airtel Payments Bank Customer Care Number is 400 for Airtel Customers and for Non Airtel customers dial 8800688006

India Post Payments Bank (IPPB) is Incorporated as a Public Sector Bank under the Department of Posts with 100% GOI equity, IPPB has launched on January 30th, 2017 in Ranchi and Raipur.

India Post Payments Bank Interest Rate

India Post Payments Bank gives an interest of 5.5%,

India Post Payments Bank Transfer Charges

You can withdraw from the issued Rupay Debit card from Any ATM

India Post Payments Bank Customer Care Number Toll Free Customer Service Number is 155299.
You can also Email at contact@ippbonline.in

Paytm Payments Bank savings account is currently available only via invitation.

Paytm Payments Bank Interest Rate

Paytm Payments Bank gives an interest of 4% with maximum deposit of Rs 100000.

Paytm Payments Bank Transfer Charges

The account will have zero balance requirement and every online transaction such as IMPS, NEFT, UPI is free of charge.
Physical services like cheque book, demand draft and debit card will be available at a nominal fee.

Paytm Payments Bank Customer Care Number is 01203888388, you can also email them at care@paytmpaymentsbank.com