Airtel Payments Bank has launched a Suraksha salary account for small and medium enterprises (MSMEs).

The initiative is aimed at enabling MSMEs and other organisations to make cashless payments and provide financial security cover to their employees.

The Suraksha salary account offers benefits such as Hospicash insurance and personal accidental insurance cover. In case of hospitalisation, the account holder will be entitled to a fixed cover of Rs 400 per day under the Hsopicash insurance, for a maximum duration of 10 days. In view of the ongoing COVID-19 pandemic, the policy will also cover COVID-19 related charges. In addition, the account holder can also avail free group accidental cover worth Rs 100,000.

Over and above these entitlements, the account holders will get a host of other benefits such as zero minimum balance requirement condition, easy withdrawals, free-of-charge cash transactions for withdrawals up to Rs 50,000 and deposits of up to Rs 20,000. Moreover, the account holder can also perform two free of cost cardless cash withdrawal via IMT at ATMs across the country. In addition, the Suraksha salary account holder will also be able to carry out free bank-to-bank money transfers across the country.