Airtel Payments Bank announces Suraksha Salary Account, an innovative salary account for the Micro, Small, and Medium Enterprises (MSME). Using this account MSMEs and other organizations can make cashless payments and also provide financial security to their employees. It also offers a wide range of benefits including Hospicash Insurance and Personal Accidental insurance cover.
Suraksha Salary Account enables businesses to disburse salaries in a seamlessly convenient manner and also maintain records digitally for future references and tax processes. As of now, the Suraksha Salary Account is available only to new to bank customers and it will be soon made available to the existing customers who wish to operate their salary accounts with Airtel Payments Bank.
Suraksha Salary Account Benefits
FREE Hospicash Insurance – In the event of hospitalization, the account holder would be entitled to a fixed cover of ₹400 per day up to a maximum of 10 days. The policy will cover COVID-19 as well and mitigate the impact on the account holder due to potential loss of pay and savings during hospitalization.
FREE Accidental Insurance – The account holder also gets free of charge group accidental cover of up to One lakh. This ensures added financial protection for the family.
Easy Withdrawals with Zero Minimum Balance – The account holder can make convenient cash withdrawals at Airtel Payments Bank’s 500,000 banking points across India. Customers can also make cash deposits and transfer money at these points. Also, the account has no minimum balance condition.
Zero charges on cash transactions – There are no charges on cash withdrawals of upto ₹50,000 and deposits of upto ₹20,000 in one month. The account holder also gets two free cardless cash withdrawal via IMT at ATMs across the country.
FREE bank to bank money transfers across India – The account holder can make online money transfers to any bank across India.
Commenting on the launch Anubrata Biswas, MD and CEO, Airtel Payments Bank said, “We are delighted to launch Suraksha Salary Account to serve the specific needs of the people employed in India’s MSME segment. Our research reflected how lack of protection makes the workforce susceptible to financial setbacks, particularly in case of illness. This innovative account is an important addition to our existing portfolio of customized products that are aimed at driving financial inclusion in the country.”