Do you want to open AU Small Finance Bank savings account? In this article, we will guide to AU Small Finance Bank Savings Account benefits, eligibility criteria, required documents and how to open an account. We will also explore some frequently asked questions to help you make decision.
AU Small Finance Bank Savings Account Benefits
Opening a savings account in AU Small Finance Bank offers many benefits. Here are some of benefits:
Interest Rates: AU Small Finance Bank offers attractive interest rates on its savings accounts, so that your money grows over time.
Convenience: with AU Small Finance Bank, you have access to a wide network of branches and ATMs, making banking more accessible and convenient for you.
Digital Banking: AU Small Finance Bank offers seamless digital banking services, allowing you to transact, check your balance and make payments on the go.
Account Options: AU Small Finance Bank offers a variety of savings accounts to needs of customers. Whether you are a student, salaried or a senior citizen, there is an account designed for you.
Easy Fund Transfers: Transferring funds to other accounts at AU Small Finance Bank or to accounts at other banks is quick and hassle-free thanks to the bank’s online banking platform.
Additional Benefits: Some of the savings accounts offered by AU Small Finance Bank come with additional benefits such as free insurance coverage, rewards programs and personalized financial guidance.
Eligibility Criteria
To open a savings account with AU Small Finance Bank you need to fulfill certain eligibility criteria. Although these criteria may vary depending on the type of account you choose, here are some general requirements:
Age: You must be at least 18 years of age to open an individual savings account. However, for a joint account, there is no age restriction for the second account holder.
Residence: Banks generally require you to be a resident of India to open a savings account.
KYC Documentation: To comply with regulatory norms you must provide valid Know Your Customer (KYC) documents such as Aadhar Card, PAN Card and proof of address (such as utility bill, passport, driving license).
Documents Required for AU Digital Savings Account
If you want to open an AU Digital Savings Account, you will need the following documents:
- Aadhar card
- PAN card
- Mobile number linked to your Aadhar card
- selfie photo
- signature photo
Make sure to have these documents with you when applying for an AU Digital Savings Account to ensure a smooth and hassle-free process.
How to Open AU Small Finance Bank Savings Account?
Opening a savings account at AU Small Finance Bank is a simple process. Here’s how you can do it:
Online Application: Visit AU Small Finance Bank website and go to Savings Account section. Select the type of account you want to open and click the “Apply Now” button.
Fill the Application: Provide the required details and upload the required documents as per the instructions of the Bank.
Verification: AU Small Finance Bank will verify your documents and authenticate your details through the KYC process.
Deposit funds into your account: Once your application is approved, deposit funds into your savings account with the minimum required balance specified by the bank.
Receive account details: You will receive your savings account details, including account number and internet banking credentials, via email or SMS.
Congratulations! You have successfully opened AU Small Finance Bank Savings Account.
FAQ
What is the minimum balance for AU Small Finance Bank Savings Account?
The minimum balance requirement varies depending on the type of savings account you choose. It is advisable to check with the bank for specific details.
Can I open a joint savings account with AU Small Finance Bank?
Yes, AU Small Finance Bank allows you to open a joint savings account. There is no age restriction for the second account holder.
How can I track my account balance and transactions?
AU Small Finance Bank offers a user-friendly internet banking platform and a mobile banking app that allows you to monitor your account balance, view transaction history and perform other banking activities.
Is my money safe in AU Small Finance Bank?
Yes, AU Small Finance Bank is a regulated bank and follows stringent guidelines to ensure the safety of your money. Additionally, deposits up to Rs. 5 lakh is insured by the Deposit Insurance and Credit Guarantee Corporation of India (DICGC).
Opening a savings account with AU Small Finance Bank offers a number of benefits including competitive interest rates, convenience and digital banking services. By providing the eligibility criteria and providing the required documents, you can easily open an account and start enjoying the benefits of banking with AU Small Finance Bank.
