7 Key Benefits of Savings Account | AU Small Finance Bank
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Benefits Of A Savings Account | AU Small Finance Bank

Benefits of Savings Account

    If you are saving for some big dream or let’s, just say, a rainy day, keeping all that money in your wardrobe locker is a risky idea. To keep that money safe, and at the same time, earning some more from your own money – yes, that is exactly what a Savings Account is about. It provides interest on your deposited amount.


    Advantages of Savings Account

    There are many benefits of Savings Account; some are highlighted below:

    1. Having a Savings Bank Account is one way to encourage and inculcate the habit of saving, especially for people who get monthly salaries or fixed incomes.
    2. AU Small Finance Bank, for instance, offers a monthly interest pay-out. Hence, the interest benefit is realized every month, not just once in a blue moon.
    3. An auto-upgrade feature is also offered by AU Small Finance Bank, which enables the account holder to enjoy certain privileges and benefits after a period.
    4. In a hasty fast-paced life it is convenient to make transactions with ATM/Debit Cards instead of hard cash.
    5. Enjoy multiple payment facilities like NetBanking, NEFT/RTGS/IMPS for instant money transfer and online shopping.
    6.  Savings Accounts in banks like AU Small Finance Bank offer monthly interest pay out, extended locker hours^, easy deposit process. Such ease, right!
    7. Facilities like joint account systems are also offered to encourage joint savings of people, mainly of husband and wife. Isn't it a good way to save together?

    There are so many more perks you can enjoy from a Savings Account, especially from a bank like AU Small Finance Bank.


    Savings Account Eligibility Criteria:

    If you are looking to open a Savings Bank Account following are Savings Account eligibility criteria:

    • You need to be a resident of India
    • You need to be above 18 years old

    Documents required to open Savings Account

    To open a Savings Account, you will be to submit any one of the following Identity Proofs:

    • Passport, Voter Id, Permanent Driving License, Permanent Account Number Card, Aadhaar Card, NREGA Job Card

    The bank will also ask for any one of the documents for Residence Proof:

    • Passport, Voter ID Card, Electricity or Water or Telephone Bill, Gas Pipeline Bill, Property Tax Bill, Aadhaar Card

    Video Banking to open a Savings Account

    Now you can open a Digital Savings Account from the comfort of your home anytime, anywhere with the help of Video Banking. For instance, AU Small Finance Bank offers Video Banking for opening AU Digital Savings Account. The process is entirely paperless and is done using our Video Banking facility.

    AU Digital Savings Account is an instant account that you can open in just a few minutes. Just the way you video call your friends or family, similarly, you can connect with us anytime and complete your KYC to start operating your Digital Savings Account.

    AU Video Banking is completely safe as the mobile number is authenticated with OTP. It uses AI-based facial recognition and personalized security questions.


    Tips for selecting the best Savings Account

    • Open a Savings Account with a bank that gives you the convenience of paperless banking.
    • When you open a Savings Account, most banks also offer attractive deals on their Debit Cards which range from cash-back offers to insurance coverage. For instance, AU Small Finance Bank offers discounts and deals from top-notch brands on its Debit Card range.
    • Choose a bank that provides doorstep services in the form of cash collection or delivery services.
    • By opening a Savings Account, you can also avail yourself a wide range of services, including Mutual Funds, Demat, Lockers, Asset Products, Insurance, others.

    If you are looking to open a Savings Account, you can easily initiate the process with AU Small Finance Bank through Video Banking. All you need is your PAN Card and Aadhaar Card. It is convenient, hassle-free and saves time. If you are not comfortable with the online process, then you can visit our Bank Branch or get in touch with our customer care 1800 1200 1200.

    ^Not applicable in some select locations. To know your branch timings, click here.

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