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Top Features of AU Institution Account
Enjoy high-interest rates & monthly interest payouts
Manage your cash payables and receivables efficiently
Keep transacting with no minimum balance requirements
About AU Institution Account
A comprehensive account and seamless banking experience can ensure you pay heed to other important things while running an institution of any sort. Our Institution Account provides precisely that. Our customer-centric approach matches the evolving market demands, offers flexibility, and makes us your desired banking partner.
Our Institution Account is a comprehensive package specifically designed to offer a seamless banking experience to institutions. High interest rates & monthly interest payouts, Cash Management Solutions, dedicated relationship managers are some perks you get with our Institution Account. Designed to uplift non-profit entities, it is perfectly suited for Trusts, Associations, Clubs, NGOs, Hospitals, Educational & Research Institute, Section 8 Companies, and other such entities.
Features of AU Institution Account:
- High-interest rates: Earn up to 7%* on your Savings Account. Click here for Savings Account Interest Rates
- Monthly interest payouts: Receive monthly interest payouts on your hard-earned money with us
- Dedicated Relationship Manager: Enjoy the services of a dedicated Relationship Manager who will act as your single point of contact across all your banking and financial needs
- Customized & tailor-made banking solutions: Enjoy cash management solutions to manage your payables and receivables efficiently.
- Steadfast support: We offer additional benefits, including CSR activities & advisory services.
- State-of-the-art Digital Banking: Take advantage of the convenience of digital banking that also offers facilities such as bulk payments.
Benefits of AU Institution Account
AU Institution Account holders get a plethora of benefits such as:
- Free cash deposit and withdrawal: Enjoy enhanced cash deposit and withdrawal limits across any branch with no home-branch concept.
- Attractive Fixed Deposit rates: Enjoy preferential Fixed Deposit rates and see your money grow with us. Also, enjoy enhanced liquidity by using our Overdraft facilities on your deposits to meet any short-term needs.
- True Anywhere Banking: Use AU 0101 App or AU 0101 NetBanking to carry out a range of tasks from the comfort of your home or office.
- Power-packed Debit Card: With our AU Institution Account, you receive a Platinum Debit Card that comes with multiple offers and added benefits.
- Multiple investment solutions: Allow us to manage your cash flows by helping you grow your money by investing across investment products.
An Institution Account can be opened if you fall under one of these as per RBI Guidelines:
- Development of Women and Children in Rural Areas (DWCRA).
- Primary co-operative credit societies that are financed by banks.
- Both registered and unregistered self-help groups (SHGs), which promote the habit of saving among people.
- Village industries and Khadi board.
- Trusts, associations, clubs, charitable hospitals, NGOs, and certain companies are eligible to open a Savings Account as per RBI guidelines.
- Government bodies, departments, agencies formed as grants or subsidies granted for the implementation of different schemes verified and sponsored by central or state government.
- Committees formed by the agriculture produce market.
How to apply for our AU Institution Account?
You can apply for an AU Institution Account provided you are eligible basis the above-mentioned classes of applicants. You can either apply online or offline.
- Visit your nearest branch: Walk into your closest branch with your KYC documents and passport-sized photographs. You can fill in the application form at the branch to get the process started.
- Visit our website: Another easy way to apply is through our website. After filling the online form, our representative will contact you regarding the process ahead.
- Call Customer Care: You can also apply for our Institution Account by calling on customer care number 1800-1200-1200.
Documents required for AU Institution Account
Whether you are applying online, in-branch or at-home, here are the documents you need to keep in handy to apply for an AU Institution Account:
- Application form
- Copy of Trust deed/by-laws
- Certificate of Registration in case of Registered Trust/Society
- Board Resolution
- Income Tax exemption certificate, if any, from the Income Tax department
- Valid OVD of the persons authorized to open and operate the account
If you do not have all the documentation mentioned above, you can still reach out to your nearest branch to see how we can help you.
Service Fees of our AU Institution Account
We, India's best Small Finance Bank,
believe in complete transparency and provide you with a list of charges for the services offered. These include charges for your Debit Card, payment and collection services, transactions, and delivery fees. For more details, please refer to our Service Fee Reckoner
Q1. What is an Institution Savings Account Savings Account?
An Institutional Savings Account is simply a Savings Account for institutions of various sizes, whose eligibility is determined as per the RBI guidelines. These accounts are specially curated to cater to the needs of non-profit organizations like NGOs, Trusts, Clubs, and other Societies with social welfare as their working guide.
Q2. What is the Interest rate on Institution Savings Account Savings Account?
We offer attractive interest rates on savings account balances. For more information, kindly click here.
Q3. What are the features of an Institution Savings Account account?
With AU Institution Account, you enjoy various facilities such as AU 0101 App/ NetBanking, Debit Card which help in making your experience seamless.
* Terms and Conditions apply. Rates are subject to change at the sole discretion of AU Small Finance Bank.