Airtel and Axis Bank ink m-banking deal

Bharti Airtel’s subsidiary, Airtel m-commerce services and Axis bank partnered to provide banking and payment services to India’s sub-urban and rural population.

"According to estimates, nearly 43 percent of our country's population does not have bank accounts and continues to rely on cash for majority of transactions as well as payments," said Sanjay Kapoor, chief executive officer (India and South Asia), Bharti Airtel.

The new services will allow the customers to enjoy their money transactions like sending, withdrawal, safe deposits etc. and services like. Micro-recurring deposits, small loans and micro-insurance products through their mobile device, acting as a no-frills bank account service.

Infosys, the IT giant, will service as the Technology Innovation partner.

Savings account rates differ from bank to bank

Compare the saving account rates of different banks nowadays wherein you will find a good difference in what they are offering. Some may be offering a rate of 3 % and there are others who have upgraded it to nearly 6 %. This really calls for some good amount of research on such banks and the one with a legitimate offering should not be missed out. Bank with a trusted name in the regions is always admired and should be the one you must be going with.

Such a huge difference in the Savings account rates for different banks really calls out for the competition that they are facing at their end as well. Each of the banks is trying to snatch other banks customers which in a way are helping the end user to get hold of good rate on his saving account.

Summary: With so many banks offering saving account rates at almost 6%, the customer choice has been increased to enormous level.