Savings Account

Types of Savings Account

AU Small Finance Bank offers various savings accounts to suit customers' needs. AU Royale provides premium services and privileges for high-balance customers, while AU Platinum offers enhanced benefits, including higher interest rates and priority services.

The standard AU Savings Account caters to basic banking needs, and the AU Digital Savings Account enables seamless online banking with competitive interest rates and 24/7 access to funds. Each account type aims to provide a tailored banking experience, ensuring customers can efficiently manage and grow their wealth.

Savings Account Interest Rates

Earn interest rate of up to 7.25%* p.a. with monthly interest payouts into your account.

Know more about Savings Account Interest Rates

To learn more about the interest you can earn with AU Small Finance Bank, go to Savings Account Calculator.

Important Documents Required for Opening a Savings Account

To apply for a Savings Bank Account, you must submit KYC (Know Your Customer) documents for verification. Listed below are the essential documents you will be required to submit:

Identity Proof:

• Aadhaar Card
• Passport
• Voter ID

Address Proof:

• Aadhaar Card
• Passport
• Utility Bill
• Voter ID

In addition to this, you must submit two passport-sized photographs and the application form. Existing customers of AU Small Finance Bank can apply for a Savings Account through AU 0101 App or AU 0101 NetBanking.

Instant Savings Account Opening with Video Banking (Online)

• A device with a camera and speaker (smartphone, laptop, or tablet) for real-time interaction with our video banker.
• Stable internet connectivity and a well-lit environment for optimal video quality.
• A blank sheet of paper and a pen to provide your signature during the call.

To begin video banking with our dedicated representative, simply click below

Offline Savings Account Opening Process:

Contact your nearest Bank Branch with your KYC documents and passport-sized photographs.

Branch Locator

Monthly Interest Payout

AU Small Finance Bank offers a monthly interest payout feature on select savings accounts, providing customers with a consistent income stream. This option allows account holders to receive interest earnings on their deposits at regular monthly intervals, instead of waiting for the typical quarterly or annual payouts. The monthly interest payout feature is ideal for individuals seeking a predictable cash flow to support their financial needs or supplement their income, while still enjoying the security and flexibility of a savings account.

Key Features of Savings Account

• Monthly Interest Credits

• Visa Gold Debit Card

• Video Banking

• Dedicated Relationship Officer

• Easy Access to Funds

• Extended Banking Hours

Benefits of Savings Account

• Experience hassle-free fund deposits without the need for deposit slips, streamlining your banking experience.
• Take advantage of doorstep banking services, such as cash/cheque pick-up and delivery, for added convenience.
• Effortlessly automate bill payments using your Visa Gold Debit Card.
• Safeguard your money while working towards your financial objectives.
• Cultivate financial discipline by managing your savings effectively.

How to Calculate Interest on Savings Account

As per the RBI regulation, a Savings Account interest rate is determined every day depending on your closing balance. This is how to calculate interest on Savings Account:

Interest = Daily balance*(Number of Days)*Interest / (Days in a Year)

If your daily balance amount is INR 1 lakh and interest on the Savings Account is 5% per year, the computation will be:

1 lakhs*30*(5/100) / 365 = INR 410.95

Tips to Keep in Mind While Opening a Savings Account

• Choose the right account type: Understand the various savings account options offered by AU Small Finance Bank to select the one that best suits your financial needs and goals.
• Prepare your documents: Gather all necessary documentation, such as identification and proof of address, and have them ready for submission. If you're funding your account through a remittance route, make sure you have the required information handy.
• Provide accurate contact details: Ensure you share correct and up-to-date communication details, including your phone number, email address, and mailing address. This will facilitate smooth communication and updates from the bank.
• Be Video KYC-ready: If you plan on opening your account using the Video KYC process, ensure you have a compatible device and a stable internet connection for a seamless video call experience. This will help expedite the account opening process and enable you to start enjoying the benefits of your AU Savings Account sooner.

FAQs