Dual Power Finances: How Joint Fixed Deposits via AU 0101 Boost Your Savings

In the realm of financial planning, joint fixed deposits have emerged as a powerful tool, offering a unique approach to savings and investments. With the convenience of AU 0101, AU Small Finance Bank's innovative mobile banking platform, you can now explore the benefits of joint fixed deposits to maximize your savings. Let's delve into the world of "Dual Power Finances" and discover how joint fixed deposits via AU 0101 can elevate your financial journey.

Understanding Joint Fixed Deposits:

A joint fixed deposit is a savings instrument where two or more individuals pool their funds to create a single fixed deposit account. This collaborative approach to saving comes with a range of advantages, especially when managed through a user-friendly platform like AU 0101.

1. Combine Financial Strength: Joining forces in a joint fixed deposit allows individuals to combine their financial strength. This can be particularly beneficial for couples, family members, or business partners looking to achieve shared financial goals.

2. Higher Interest Rates: AU Small Finance Bank offers attractive interest rates on fixed deposits, and joint fixed deposits are no exception. Benefit from higher interest rates as you grow your savings together.

3. Flexibility in Ownership: Joint fixed deposits offer flexibility in ownership structures. Choose between "Either or Survivor," and "Jointly" to define the terms of operation and control over the fixed deposit.

4. Shared Financial Goals: Whether saving for a major purchase, a family event, or an investment opportunity, joint fixed deposits help align individuals towards shared financial goals. This collective effort fosters a sense of unity in financial planning.

5. Ease of Management with AU 0101: AU 0101, the all-in-one banking super app, simplifies the management of joint fixed deposits. Open and monitor your fixed deposit account seamlessly, enjoying the convenience of a digital banking platform.

6. Nomination Facility: Ensure a smooth transition of funds in case of unforeseen events by leveraging the nomination facility. Designate a nominee to receive the proceeds of the joint fixed deposit in the event of the demise of any of the account holders.

7. Regular Interest Payouts: AU 0101 ensures that your joint fixed deposit interest is credited directly to your account at regular intervals (only if one chooses monthly/quarterly payouts). This allows you to enjoy the fruits of your savings without waiting until maturity.

8. Transparency and Security: AU 0101 prioritizes transparency and security in all financial transactions. Experience peace of mind as you engage in joint fixed deposits, knowing that your savings are managed with the highest standards of security.

How do I open a Joint FD?

Eligibility: A customer who has a Joint Account with only two holders, and either of them can operate the account, e.g., Sita OR Geeta.

Login to AU 0101 App

• Tap on FD/RD, and select Open FD/RD.
• Select Product, enter Deposit Amount, select Interest Pay-out Frequency, Deposit Period and Debit Account (Make sure a Joint Account is selected).
• Select the Name on Deposit.
• Select Case 2, i.e., where two holder names appear to create a Joint FD (for more than 2 holders, please visit the nearest branch).
• Click on Next.
• Set Maturity Instructions and you may choose to select a Nominee.
• Proceed to book your FD/RD.

Conclusion: Joint fixed deposits via AU 0101 offer a dynamic and collaborative approach to savings, allowing individuals to harness "Dual Power Finances." Experience the convenience, transparency, and security of managing joint fixed deposits through AU 0101 and embark on a journey of elevated savings with your financial partner.