Benefits of Current Account for Small & Large Organisations

In the business world, current account is now an essential tool for managing daily tasks efficiently. AU Small Finance Bank offers current accounts designed to meet the needs of Small and Medium-sized organizations. In this blog, we will explore the benefits, features and suitability of current accounts offered by AU Small Finance Bank for businesses of different sizes.

A current account is a type of bank account used by companies primarily to handle higher transactions. Unlike savings account, current accounts generally do not pay interest on deposits, but offer a wealth of features and features that meet transactional needs of businesses These accounts allow organizations to manage finances more effectively, leading to greater efficiency.

1. Unlimited Transactions

Current account allows companies to execute an unlimited number of transactions without any restrictions. This is especially important for companies that pay and receive payments on daily basis.

2. Overdraft Facility

Many accounts now come with an overdraft facility, providing businesses with a credit facility to meet short-term financing needs.

3. Multiple Access

Businesses can operate their existing accounts through various channels such as internet banking, mobile banking, ATMs and bank branches.

4. Ease of Payment and Receipt

Current Accounts offers a variety of payment services, including electronic funds transfer, demand drafts, and cheque deposits.

5. Enhanced Recordkeeping

Detailed information and transaction records help companies to maintain accurate financial records, which are important for accounting and taxation purposes

AU Small Finance Bank offers a range of current accounts tailored for Small businesses. These accounts are designed to support the unique needs of Small enterprises, providing them with the necessary tools to manage their finances efficiently.

AU Power Current Account

The AU Power Current Account is ideal for Small businesses that require a flexible and convenient banking solution. Key features include:

Digital collection options: Receive payments through RTGS, NEFT, IMPS, UPI, and Intra-Bank Fund Transfers.

Free AU QR code and UPI: With our AU Power Current Account, you can access digital payment methods such as a free AU Bank QR code and UPI.

24x7 cash deposits: We provide 24x7 cash deposits through our convenient cash deposit machines.

Cash deposit limit: You get a minimum cash deposit limit of INR 3 lakhs or five times the previous month's AMB, whichever is higher. The maximum free limit is INR 10 lakhs.

Point of Sale (POS) and Payment Gateways: You have access to POS and payment gateway services

AU Regular Current Account

The AU Regular Current Account is another excellent option for Small businesses, offering additional benefits:

Multiple collection modes: With various options to choose from, customers can make payments free of cost through NEFT/RTGS/IMPS/IFT.

Bank locations: All your cheque collections can be received free of cost at our bank locations, whether local or outstation.

Cheque clearing- First in industry, extended cheque clearing till 6 PM to ensure your funds are credited without any time restriction.

Cash deposit limits: Higher and flexible cash deposit limits across all Regular current account packages

Current Accounts for Large Organizations at AU Small Finance Bank

For Large organizations, AU Small Finance Bank offers current accounts that cater to their extensive transactional needs and provide robust financial management tools.

Also Read: [Do banks pay interest on a Current Account?]

AU Royale Business Current Account

The AU Royale Business Account is designed for Large businesses with high transaction volumes. Key features include:

Dedicated Relationship Manager: Enjoy the services of a dedicated Relationship Manager who will act as the single point of contact for you and your entire family.

Special Series Account Number: You get the option to choose a special series account number for your account.

Family Banking Program: Group Current and Saving Accounts of your family members and ensure that their business banking needs are taken care of.

Fee Waivers: Waiver of setup fees for Virtual Account collection (non-cash), Cheque Printing, Nach and E-Nach.

Preferential Processing Fee: Special Processing Fee on Bank Guarantees, letter of Credit, Auto and Personal Loans.

State-of-the-art Digital Banking: Instant access to your funds through AU 0101 App and NetBanking. What’s more, you can even book flights, hotels, recharge your mobile, and apply for a host of products and services.

AU Platinum Current Account

The AU Platinum Current Account is one of the premium offering from AU Small Finance Bank, tailored for Medium & Large organizations with flexible financial limits. Key features include:

Cash Deposit Limit: You get a minimum cash deposit limit of INR 40 lacs or 20 times the previous month's AMB (Average Monthly Balance), whichever is higher. The maximum free limit is INR 250 lacs.

Feature-Rich Debit Card: Get a complimentary Visa Platinum Business Debit Card that provides High transaction limits, purchase protection, enhanced insurance coverage, and offers & discounts across leading brands in India.

Dedicated Relationship Officer: Enjoy the services of a dedicated Relationship Officer who will act as your single point of contact across all your banking and financial needs.

Cheque payments: You get 250 free cheque leaves per month, ensuring you can make all your payments without worry.

Choosing the right account is crucial for companies to manage their finances effectively. AU Small Finance Bank offers current account designed to meet specific needs of Large and Small organizations. Whether you are a Small business looking for flexible banking solutions or a Large organization in need of comprehensive financial planning tools, AU Small Finance Bank has the right variant of current account to support your business operations. By leveraging features and benefits of these account, companies can ensure a smooth and efficient financial management system, allowing them to focus on growth and success.