Airtel and Axis Bank join hands to provide savings accounts for Airtel money users.

Bharti Airtel, via its subsidiary Airtel mCommerce Services Limited, and Axis Bank, today announced a partnership for extending banking and payment services to India’s unbanked millions via mobile devices using Airtel Money.
Through this partnership, a savings account of Axis Bank will be opened for customers on Airtel Money called ‘Airtel Money Super Account powered by Axis Bank’, that will offer customers banking transactions including cash deposit, money transfer and withdrawal.
To begin with, savings and remittance solutions will be provided in the top four remittance corridors involving Delhi and Mumbai on the sending side and Bihar and East UP on the receiving side. Thereafter these services may be extended to other remittance corridors in the country. Gradually other banking products and services like micro Recurring Deposits, micro Fixed Deposits, small loans and micro-insurance products will also be provided through this platform.
The ‘Airtel money Super Account powered by Axis Bank’ offers the following key features:

• A  account of Axis Bank on the Airtel Money platform
• Cash Deposit / Withdrawal from authorized ‘Airtel money – Axis Bank’ outlets
• Remittance of funds to other ‘Airtel money Super Accounts’
• Remittance to other bank accounts through NEFT (to be enabled soon)
• Savings bank interest on balances

Mobile customers can visit nearest authorized Airtel Money – Axis Bank outlets’ and open an account on their mobile phones by submitting the prescribed application form and KYC documents.