Airtel Payments Bank on Monday launched a new salary account for micro, small and medium enterprises.

Called the Suraksha Salary account, it will enable MSMEs and other organisations to make cashless payments and provide a financial security blanket to their employees.

“Suraksha Salary account offers a wide range of benefits including Hospicash Insurance and Personal Accidental insurance cover given the low penetration of insurance in India,” Airtel Payments Bank said in a statement.

The account has no minimum balance condition. It offers no charges on cash withdrawals of upto Rs 50,000 and deposits of upto Rs 20,000 in one month. The account holder also gets two free cardless cash withdrawal via IMT at ATMs across the country. The account holder can make online money transfers to any bank across India.

“To begin with the product will be available only to new to bank customers,” the bank said, adding that it will be soon made available to the existing customers.

Published on June 15, 2020

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