AU Small Finance Bank Digital Account Review: It’s a bank that serves low and middle-income individuals and micro and small businesses. An individual can open a bank account in AU Small Finance Bank by sitting at home through video KYC and visiting the nearest branch.
AU Small Finance Bank offers three types of digital accounts to its customers namely AU Digital, Platinum Account, and Royale Account where interest is credited every month which allows an individual to earn interest on interest.
AU Small Finance Bank was founded by Sanjay Agarwal as a private limited company and publicly listed in an IPO on 29 June 2017. AU Small Finance Bank has over 1015 branches in 21 States and 3 Union Territories.
Open Zero Balance AU Small Bank Saving Account
Types of Digital Accounts introduced by AU Small Finance Bank
AU Digital Savings Account
AU Digital Savings Account is a basic zero-balance savings account that is completely digital. An individual can open this account by sitting at home through video KYC. In this savings account, interest is credited every month, allowing an individual to earn interest on interest.
The interest rate is between 3.50% and 7.25% for this account.
Features of AU Digital Savings Bank
High-interest rate: AU Digital Savings Bank offers upto 7.25% interest rate.
Lounge Access: Offers access to the Domestic Airport Lounge on a debit card.
No Minimum Balance: No need to worry about fines for failing to maintain a minimum average Balance
Extended Baking Hours: AU Small Finance Bank provides extended banking hours i.e. till 6 pm.
AU Platinum Account
AU Platinum Account is a digital account where the account holder can adopt a unique way of banking that seamlessly connects their family members by simply grouping all of their accounts.
The account holder will have to maintain a collective balance of INR 25,000 across the family member’s account.
Features of AU Platinum Account
High-interest rate: AU Platinum Account offers upto 7.25% interest rate.
Extended Baking Hours: AU Small Finance Bank provides extended banking hours i.e. till 6 pm.
Debit Card: Free Platinum Visa Debit Card that provides offers and discounts across leading brands in India.
Joining Benefit: Get upto INR 1250 Amazon Voucher.
Reward Points: Earn Loyalty Reward Points on Debit Card transactions.
Lounge Access: Enjoy 4 International and Domestic Airport Lounge access per year.
Royale Account
As the name indicates AU Royale Account is the most premium Digital Saving Account service provided by AU Small Finance Bank and offers exclusive offers on debit card transactions and gives high-interest rates on savings accounts with monthly interest payouts and many more.
Feature of Royale Account
High-interest rate: AU Platinum Account offers upto 7.25% interest rate.
Extended Baking Hours: AU Small Finance Bank provides extended banking hours i.e. till 6 pm.
Reward Points: Earn Loyalty Reward Points on Debit Card transactions.
Lounge Access: Enjoy 8 Domestic Airport Lounge access per year, 2 visits per quarter.
Lowest cross-currency mark-up: Get up to 1.5% on international merchant purchases and the ability to withdraw money from international ATMs.
Joining Benefit: Get upto INR 1250 Amazon Voucher.
Milestone Benefits: On achieving the annual spending target on the AU Royale Debit Card you can earn vouchers upto INR 4,750.
Entertainment: Free Movie tickets upto INR 250 through BookMyShow (2 tickets per month).
How to Open an AU Small Finance Bank Digital Savings Account
You can open a Digital Saving Account with AU Small Finance Bank by following these steps:
- Choosing Account Type: AU Small Finance offers three types of Digital Savings Accounts such as AU Digital, AU Platinum Account, and AU Royale Account, you can choose according to your requirements.
- Check Eligibility: The second step is to check the eligibility criteria of each account and ensure whether you meet the criteria or not. Eligibility criteria may include factors such as age, residency, status, and identity verification.
- Filling Application: You can open a digital savings account by visiting your nearest branch and by visiting the AU Small Finance Bank website by entering your PAN Card and Aadhar Card details.
- Provide Documents: You need to provide your PAN Card and AADHAR Card for KYC and EKYC purposes and more documents in case needed.
- Verification Process: After filling details in the application form AU Small Finance Bank may conduct further verification of the details and documents. This includes biometric verification, video KYC, and other methods.
- Activate Account: Now in this step, you need to activate your account by following the additional steps provided by the bank, generating a PIN, and completing any required security checks.
Interest rates provided by AU Bank
| AMOUNT(RUPEES) | INTEREST% |
| Below 1 Lakh | 3.5% |
| From 1 >10 Lakh | 5% |
| From 10 Lakh > 25 Lakh | 6% |
| From 25 Lakh > 1 Crore | 7% |
| From 1 Crore > 2 Crore | 7.25% |
| From 2 Crore > 5 Crore | 7.25% |
| From 5 Crore > 10 Crore | 7.25% |
AU Small Finance Bank Digital Account Review: Conclusion
So by looking at all the features provided by the AU Small Finance Bank Digital Savings Account, we can say that it gives a higher interest rate than other digital savings accounts and gives extra banking hours till 6 pm and also Domestic and International Airport Lounge access to its digital savings account holder. Don’t forget tocheck our credit cards reviews.
