AU Bank Savings Account

An AU Bank Savings Account is designed to combine competitive interest earnings with modern digital banking convenience. Offered by AU Small Finance Bank, these savings accounts provide attractive returns of up to 6.50% p.a., along with features including monthly interest payouts, digital banking via the AU 0101 app, and video banking services. Customers can choose from multiple account types, including zero-balance digital accounts, premium savings accounts, and specialized accounts for women, students, and senior citizens.

Overview of AU Bank Savings Account

AU Small Finance Bank offers a range of savings accounts designed to suit different customer segments. These accounts combine high interest potential, digital access, and flexible balance requirements. The table below highlights key details of AU Bank savings accounts.

Key Features of the AU Bank Savings Account

AU Bank savings accounts offer several features designed to improve convenience and returns for account holders.

• High Interest Returns: Earn interest of up to 6.50% per annum on your savings balance.
• Monthly Interest Credit: Interest is credited every month, helping customers benefit from faster compounding.
• Video Banking Services: Customers can access banking services through secure video calls without visiting a branch.
• Zero Balance Digital Option: The AU Digital Savings Account allows customers to operate the account without maintaining a minimum balance.
• Feature-Rich Debit Cards: Debit cards provide 100+ brand discounts, lifestyle offers, and higher withdrawal limits.
• Advanced Mobile Banking: Manage transactions, transfers, and services through the AU 0101 mobile app.

Also Read: Zero Balance Savings Account in India

Benefits of AU Bank Savings Account

Opening an AU Bank savings account offers multiple financial and lifestyle advantages.

• Higher Returns on Savings: Competitive interest rates help your savings grow faster.
• Monthly Compounding Advantage: Monthly payouts allow interest to be reinvested more frequently.
• Digital Banking Convenience: Customers can perform transactions anytime through the AU 0101 mobile app and internet banking.
• Lifestyle and Shopping Offers: Debit cards provide discounts on travel, dining, and shopping through partner brands.
• Premium Banking Options: Premium accounts, such as AU Royale, offer additional benefits, including relationship managers and lounge access.
• Paperless Banking: Accounts can be opened digitally through Video KYC without visiting a branch.

AU Bank Savings Account Interest Rate

AU Small Finance Bank offers competitive interest rates on savings accounts, with interest credited monthly.

Also Read: Savings Bank Account Interest Rates

Fees & Charges for AU Bank Savings Account

Customers should understand the fee structure to manage their accounts efficiently.

AU Bank Savings Account Eligibility Criteria

To open an AU Bank savings account, applicants must meet certain eligibility requirements.

• Resident Individuals: Indian residents aged 18 or above can open an account.
• Non-Resident Indians (NRIs): NRI customers can open NRE or NRO savings accounts.
• Minor Accounts: Accounts can be opened for minors through parents or legal guardians.
• Segment-Specific Accounts: Special accounts are available for students, women, and senior citizens.
• KYC Compliance: Customers must complete the Know Your Customer (KYC) verification process.

Documents Required for AU Bank Savings Account

Applicants must submit valid KYC documents to open the account.

• Identity Proof: PAN card and Aadhaar card
• Address Proof: Aadhaar card, passport, voter ID, driving license, or NREGA job card
• Photographs: Two passport-sized photographs
• Income or Employment Proof: Required for certain account types
• Additional Documents: Any other documents required by the bank for verification

Steps to Open an AU Bank Savings Account Online

Opening an AU Bank savings account online is quick and can be completed through the AU 0101 app or website.

Step 1: Download the AU 0101 App
Install the AU Bank mobile application and select the Savings Account option.

Step 2: Enter PAN and Aadhaar Details
Provide your PAN and Aadhaar information to begin the e-KYC process.

Step 3: Fill Personal Information
Enter personal details such as name, address, occupation, and complete the FATCA declaration.

Step 4: Choose the Account Type
Select the savings account variant that best matches your financial needs.

Step 5: Fund the Account
Add an initial deposit if required for the chosen account.

Step 6: Complete Video KYC
Finish the process through Video KYC, where a bank representative verifies your identity and documents.

Types of AU Bank Savings Accounts

AU Small Finance Bank offers a wide range of savings accounts designed to meet the needs of different customer segments, such as digital users, families, women, students, senior citizens, and NRIs. Each account type provides different benefits, balance requirements, and lifestyle privileges. The table below provides a quick overview of the available AU Bank savings account types.

AU Digital Savings Account

The AU Digital Savings Account is designed for customers who prefer a fully digital banking experience. It is a zero-balance account that can be opened instantly using Video KYC through the AU 0101 app. Customers can earn competitive interest rates and receive a RuPay Platinum Debit Card, along with access to digital banking services such as mobile banking, online transfers, and bill payments.

AU Royale Savings Account

The AU Royale Savings Account is a premium banking option for customers who want exclusive privileges. It requires maintaining an Average Monthly Balance of ₹1,00,000 and offers benefits such as airport lounge access, dedicated relationship management, and family banking benefits that allow linking multiple family accounts.

AU Royale World Savings Account

The AU Royale World Savings Account is designed for high-net-worth individuals seeking luxury banking services. It offers premium privileges such as global concierge services, travel assistance, and personalized relationship management, making it suitable for customers who prefer high-end banking benefits.

AU Platinum Savings Account

The AU Platinum Savings Account requires an Average Monthly Balance of ₹25,000 and provides enhanced banking features such as 25% discount on locker rentals, higher ATM withdrawal limits, and exclusive debit card offers. It is suitable for customers who want premium features with moderate balance requirements.

AU Platinum World Savings Account

The AU Platinum World Savings Account is designed primarily for non-resident customers who require international banking support. It offers benefits such as priority services, lifestyle privileges, and relationship management tailored to customers with global financial needs.

AU NRI Savings Account

The AU NRI Savings Account is available as NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts for Non-Resident Indians. These accounts help NRIs manage their finances in India and abroad while earning competitive interest rates. Additional services may include tax advisory support and healthcare benefits for parents in India.

AU Women’s Savings Account

The AU Women’s Savings Account is specifically designed to support the financial needs of women. It offers monthly interest payouts, financial advisory support, and access to workshops and skill-building programs that help women manage their finances effectively.

AU Senior Citizen Savings Account

The AU Senior Citizen Savings Account is tailored for individuals aged 60 years and above. It provides benefits such as higher interest payouts, healthcare-related advantages, and discounts on locker rentals, along with personalized banking services.

AU Student Savings Account

The AU Student Savings Account is designed for students to help them manage their finances while studying. It provides digital banking access, a RuPay Platinum Debit Card, and educational offers, making it suitable for students who are beginning their financial journey.

AU Kids Savings Account

The AU Kids Savings Account is intended for children under the age of 18 years and helps inculcate saving habits at an early age. It offers zero non-maintenance charges, and children aged 10 and above may receive a debit card, while parents or guardians can monitor the account activity.

Limitations of the AU Bank Savings Account

While AU Bank offers attractive features, there are certain limitations customers should consider.

• Higher Balance Requirement in Premium Accounts: Some account variants require high average balances.
• Penalty for Balance Shortfall: Failure to maintain the required balance may result in charges.
• Debit Card Fees: Debit card annual charges may apply.
• Limited Free Cash Deposit Limits: Free deposits may be capped per month, depending on the account.

AU Bank vs Other Zero Balance Accounts

AU Bank’s digital savings account competes with several other zero-balance savings accounts offered by major banks.

Suggested Read: Post Office Savings Account

Summary

An AU Bank Savings Account combines competitive interest rates, modern digital banking tools, and flexible account options for different customer segments. With interest rates of up to 6.50% per annum and monthly interest payouts, the account helps customers grow their savings efficiently. The bank’s AU 0101 mobile app, video banking services, and paperless account opening process provide a convenient digital banking experience. Whether customers are looking for a zero-balance account, premium banking features, or specialized accounts for students, women, and senior citizens, AU Bank offers a comprehensive range of savings account solutions.

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