Digital Savings Account - Meaning, Benefits & Features | AU Small Finance Bank
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All About Digital Savings Account And How It Changes The Way You Bank | AU Small Finance Bank

All About Digital Savings Account and How It Changes the Way You Bank

    The Indian banking sector has fully embraced the digital wave to provide innovative products to customers. A Digital Savings Account is one such innovation. Read on to know what it is and how it can transform your banking experience. 

    'Digital India,' the government's ambitious goal, has helped the country take a technological leap. The banking sector has embraced digital technologies to innovate and offer a range of modern banking products and services. A Digital Savings Account is one such innovation. 


    What is a Digital Savings Account?

    A Digital Savings Account is an electronic version of a regular Savings Account. With a paperless, quick and secure account opening process, it allows customers to open a bank account on the go without the need to visit the bank. 

    Apart from the basic features you get with a regular Savings Account, the Digital Account offers many additional facilities, including online bill payments, Virtual Debit Cards, 24x7 account access, instant fund transfers & more. 


    Benefits of Digital Savings Account:

    • Convenient Banking: A Digital Account allows you to access all the banking services from the comfort of your home. Since it is an online account, you are free to use it 24x7.
    • Paperless transactions: Gone are the days when you had to use deposit slips at the bank for depositing funds. From account opening to fund deposits, the Digital Savings Account is fully digital and completely paperless.
    • Instant Fund Transfers: At AU Small Finance Bank, we allow customers to use their digital accounts for unlimited FREE fund transfers through IMPS/RTGS/NEFT. 
    • One-Stop Banking Solution: A Digital Savings Account is a feature-packed account that provides access to an extensive range of products and services including Mutual Funds, Home Loans, Car Loans, Insurance, Demat, FD, lockers and more. 

    How Does a Digital Savings Account Work?

    Now that you know some of the top benefits of Digital Savings Account, here is everything you should know about how to open a Digital Savings Account:

    To open a Digital Savings Account, visit our AU 0101 NetBanking portal. Select the "Apply Now" option and fill the account opening form. You will also be required to upload documents such as identity and address proofs, along with a FATCA declaration, to apply for a new account.

    The KYC for these accounts is conducted online through a secured video call. Once your new Digital Account is ready to use, you can access it using our AU 0101 App or NetBanking services.


    Features of Digital Savings Account:

    • High Interest Rate: A higher interest rate makes the Digital Savings Account an excellent source to generate additional income on your savings. 
    • Zero Minimum Balance: The Digital Account is a zero-balance account where the account holders are not required to worry about maintaining any minimum balance in their accounts.
    • Debit Card: Account holders also receive a feature-rich Debit Card to withdraw funds from ATMs and make online/offline payments.

    Services Offered Under Digital Savings Account

    Here are the services you can access when you open a Digital Saving Account:
    • Instant Fund Deposits and Transfers: A Digital Account allows you to deposit funds from other accounts through online channels instantly. You can also use the account to transfer funds to anyone you want through AU 0101 App. 
    • Access a Plethora of Products and Services: No matter if you'd like to invest in mutual funds, apply for a loan, open a Demat Account or purchase insurance, Digital Savings Account is your true banking companion that is available for you 24x7. 
    • World-Class Support: Customers can also get in touch with our support executives through online chat, email and phone as and when they need. 

    Ready to Open Your New Digital Savings Account?

    Digital Savings Account from AU Bank is an excellent way for people in India to experience new-age banking. With a simple 5-step account opening process, you can apply for a feature-packed Digital Account that will revolutionize your banking experience. 

    Visit AU 0101 NetBanking to know more about how to open a Digital Savings Account online and complete the application process.

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