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.

1. Airtel M Commerce Services*
2. Paytm*
3. Department of Posts – India Post Payments Bank*
4. Aditya Birla Nuvo
5. Cholamandalam Distribution Services*
6. FINO PayTech
7. National Securities Depository
8. Reliance Industries
9. Sun Pharmaceuticals*
10. Tech Mahindra*
11. 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.

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

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India Post Payments Bank Interest Rates

Interest rates have been fixed as 4.5% if the quarterly average balance is up to Rs 25,000, 5% if it is between Rs 25,000 and Rs 50,000, and 5.5% if above Rs 50,000. There are no charges on cash withdrawals,

India Post Payments Bank Customer Care Number is 155299

Toll Free Customer Service Number: 155299

Email : contact@ippbonline.in

India Post Payments Bank will send money via Aadhaar sans bank account linking Last month, the government has launched Aadhaar Pay and Aadhaar Enabled Payment System (AEPS) a new payment mechanism called Aadhaar Pay which would allow any person with his Aadhaar number linked to Bank account, can make and receive payment, with a thumb impression alone. Note that this still does require linking of a bank account.
Note that Aadhaar Pay is not the same as the Aadhaar Enabled Payment System (AEPS). The AEPS is a financial inclusion product developed by the National Payments Corporation of India (NPCI) which allows cash withdrawal, deposit and funds transfer at POS (MicroATM) through a business correspondent of any bank using the Aadhaar authentication.

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