All You Need to Know About AU Small Finance Bank's Current Accounts

In the realm of modern banking, a current account serves as a dynamic financial tool that empowers individuals and businesses to manage their daily transactions efficiently. AU Small Finance Bank, known for its innovative and customer-centric approach, offers a range of current account options that cater to diverse financial needs. In this guide, we'll explore everything you need to know about AU Small Finance Bank's current accounts, their features, benefits, and how to open one.

Understanding Current Accounts: A current account is a versatile banking instrument designed for seamless transaction management. It allows customers to perform unlimited transactions, manage payments, and access funds conveniently. AU Small Finance Bank offers a variety of current account packages, each with its own unique set of features to cater to different customer requirements.

Key Features of AU Small Finance Bank's Current Accounts:

• Higher & Flexible Cash Deposit Limits: AU Small Finance Bank's current accounts offer higher and flexible cash deposit limits, accommodating businesses of various sizes and transaction volumes.
• Variation in Minimum Balance: The minimum balance requirement varies according to the current account package you choose, allowing you to select the option that best suits your financial needs. AU offers zero minimum balance accounts as well.
• Extended Banking Hours: AU Small Finance Bank extends its banking hours for customer transactions, ensuring you have ample time to manage your financial activities.
• Free Debit Card: All current account packages come with a free debit card, enabling you to make transactions and access funds conveniently.
• Dropline Overdraft Facility: Depending on your QR transactions, you can gain access to AU Small Finance Bank's Dropline Overdraft facility, providing financial flexibility when needed.
• Royale Business Account Benefits: The Royale Business Account allows you to link your business account with your family's savings account and offers a Royale Business Debit Card with enhanced limits.
• Sweep In and Out Facility: The AU Vishesh Account features a sweep-in and sweep-out facility, optimizing your funds' utilization and returns.
• Zero Balance Benefit: The AU Power Account provides the benefit of zero balance maintenance by completing a minimum of one transaction of INR 100 monthly on QR and POS.

Benefits of AU Small Finance Bank's Current Accounts:

• Systematic Fund Management: Current accounts allow you to manage a large volume of receipts and payments systematically, aiding in efficient financial management.
• Unlimited Transactions: With no restrictions on the number of transactions, you can perform day-to-day financial activities through pay orders, cheques, demand drafts, and more.
• Digital Convenience: Utilize the AU 0101 App or AU 0101 NetBanking to transfer funds anytime, anywhere, and perform seamless transactions using UPI or QR codes.
• Flexible Funds Access: There are no limits or restrictions on fund withdrawals and deposits, providing you with the freedom to access your funds as needed.
• Doorstep Banking: AU Small Finance Bank offers a doorstep facility for the pickup and delivery of cheques, adding to the convenience of account management.

How to Open an AU Small Finance Bank Current Account:

Opening a current account with AU Small Finance Bank is a straightforward process:

• Online Method: Any business owner or enterprise can open current account online through the bank's website.
• Offline Methods: You can also visit your nearest bank branch or apply for an account by calling the bank's customer care.

Documents Required for Current Account Opening:

To open a current account, you will need the following documents:

• Application form
• PAN Number of the business (or proprietor in sole proprietorships)
• KYC documents as per the business type
• Address proof in the name of the entity
• Beneficial Ownership Declaration
• FATCA Declaration
• Official valid documents of authorized signatories and beneficial owner
• Initial funding cheque as per the current account package

Monthly Average Balance Requirement:

AU Small Finance Bank offers two current account options that do not require maintaining a minimum average monthly balance:

• AU Digital Current Account: This account is designed for tech-savvy individuals, offering digital banking services without the obligation of a monthly balance requirement.
• AU Power Current Account: The AU Power Current Account provides additional benefits and features without the burden of maintaining a minimum balance, catering to customers who value flexibility.

Conclusion: AU Small Finance Bank's current accounts exemplify the bank's commitment to customer convenience and financial inclusivity. With a range of packages to choose from, flexible minimum balance requirements, and an array of features, these accounts empower individuals and businesses to manage their finances seamlessly. Whether you're seeking a zero balance option or enhanced benefits, AU Small Finance Bank's current accounts provide a holistic banking experience that aligns with your financial aspirations.