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:
- Aadhaar Card
- Voter ID
- Aadhaar Card
- 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)
Experience the convenience of opening a Savings Account from the comfort of your own home with AU Small Finance Bank Video Banking. If you're 18 years or older and have the necessary KYC documents, you can seamlessly open a Savings Account through our virtual banking platform. To ensure a smooth and efficient video call, please prepare the following essentials:
- 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.
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
Benefit from a savings account interest rate of up to 7.25%* p.a., with monthly interest credits deposited directly into your account
Receive a Visa Gold Debit Card to access over 1000 curated lifestyle privileges, offers, and discounts from top brands across India.
Open an account effortlessly with our 100% paperless Video Banking facility, available to both new and existing AU Small Finance Bank customers.
- Dedicated Relationship Officer
Enjoy the assistance of a dedicated Relationship Officer, serving as your single point of contact for all your banking and financial needs.
Access your funds 24/7 through the AU 0101 App or AU 0101 Net Banking, with additional features like flight and hotel booking, mobile recharge, and applications for various products and services
Take advantage of extended banking hours and visit any AU Small Finance Bank branch until 6 pm^.
Benefits of Savings Account
An AU Savings Account is an ideal solution for all your banking needs. Here are some of the advantages of opening an AU 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
When opening an AU Savings Account, it's essential to keep the following tips in mind to ensure a seamless process:
- 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.
Q1. Why AU Small Finance Bank is the best bank for a Savings Account?
We are one of the best bank for savings account as we offer high interest rates and monthly interest credit that 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
Q2. What type of Savings Account should I open?
We at AU Small Finance 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 savings account with higher interest rates.
Q3. What is the minimum balance requirement in a Savings Account?
The average monthly balance required to open an AU Savings Account is INR 5,000/2,000 for urban/core branches.
Q4. How can one choose the best Savings Account?
While searching for the best Savings Account, here are some of the pointers you should keep in mind:
- Assess your Needs
- Interest Rates
- Minimum Balance Criteria
- Ease of Online Access
- Debit Card Offers