A Savings Account is a basic account that helps to keep your money safe and is an interest-bearing account that'll help to fulfil your financial needs.
AU Bank is India's largest Small Finance Bank, we are committed to offering banking solutions that perfectly cater to your needs above all else. We have different types of savings accounts based on different needs of users.
We offer savings account interest rates of up to 7% p.a and monthly interest pay-outs. Now we have an easier & instant way to open a Savings Account from anywhere - via Video Banking. We ensure that you always enjoy a superior banking experience.
Online Account Opening Process:
You can open an AU Savings Account online using our Video Banking feature. Prospective customers can interact face-to-face with our representative, to begin with the AU Savings Account opening process.
Offline Account Opening Process:
Contact your nearest Bank Branch with your KYC documents and passport-sized photographs.
With an AU Bank Savings Account you not only save money but also get high interest rates of up to 7% p.a., with monthly interest credit which is much higher than the interest offered by many other banks. You can now instantly open an Savings Account online with video KYC facility via Video Banking.
We at AU Bank cater to the different needs of our customers. So, whether you are a woman, a senior citizen or a parent who wants to open a Savings Account for your children, we have exclusive account plans for everyone. We offer higher interest rates too.
As per the RBI regulation, a Savings Account interest rate is determined every day depending on your closing balance. This is how the interest on the Savings Account is calculated:
Interest = Daily balance * (Number of Days) * Interest / (Days in a Year).
If your daily balance amount is INR1 lakh and interest on the Savings Account is 5% per year, the computation will be:
1 lakhs * 30 * (5/100) / 365 = INR 410.95