Savings Account

One of the primary and traditional ways to keep your hard-earned money secure is by depositing it in a Savings Account. The account can be opened by anyone who is 18 years & above. In fact, this account is the best way to inculcate a regular habit of savings.

Let’s understand the benefits of a Savings Account along with its importance & ways how you can open an account online/offline.

Earlier, Savings Accounts only allowed users to deposit and withdraw cash. Today, it is termed as the most liquid account enabling you to manage expenses and, at the same time, grow your wealth. A Savings Account can do more than what you ask for. It is offered in different variants to meet the needs of different customers. Let’s understand the importance of a Savings Account:

• It helps you collect and make payments. When you want to transfer money to your friends and family, you can do so from your Savings Account via IMPS, NEFT or RTGS.
• Avail value-added services and other benefits with a Savings Account. For instance, If you open an AU Savings Account, you get enhanced insurance coverage and 100+ discounts on leading brands in India.
• A Savings Account helps to earn interest, just like a Fixed Deposit or Recurring Deposit Account. The earnings help to improve your income.
• Some banks like AU Small Finance Bank offers high interest Savings Account wherein you can earn higher interest rate with get Monthly Interest Payouts to manage your cashflows better.

• Get access to a Debit Card that lets you withdraw cash anytime. Plus, you also get access to purchase protection and insurance coverage through a card linked to your Savings Account.
• Access all your bank updates using Mobile Banking App or NetBanking. For instance, AU Small Finance Bank provides anytime access to the funds in your Savings Accounts using AU 0101 App / NetBanking.
• Apply for a wide array of products such as Mutual Funds, Loans, Demat, Insurance & Lockers.
• By opening a Savings Account with a scheduled commercial bank like AU Small Finance Bank, you are insured for up to an amount of INR 5 Lakh under Deposit Insurance and Credit Guarantee Corporation (DICGC).
• At AU Small Finance Bank, you get to earn higher interest with Monthly Interest Payout.

With us, you can easily open a Savings Account Online using Video Banking which provides a branch-like experience. The facility is just like when you do a video call with your family or friends. It is easy to begin the call if you take care of the following pre-requisites:

• You need to be an Indian resident.
• You need to be 18 years or above.
• You can start the video call if you have an active internet connection on your smartphone, tablet, or laptop.
• You need to ensure that there is ample light in the room to connect with our video banker.
• Keep the KYC document such as PAN Card & Aadhar Card handy.
• You will also need a blank paper and a pen to submit your signature.

If you are using the offline method, you can visit any AU Small Finance Bank Branch to open a Savings Account. Make sure you carry the KYC documents required for account opening.

Having an AU Savings Account helps you not only save but also earn Monthly Interest Payout at higher-interest rate.

At AU Small Finance Bank, we offer different types of Savings Accounts. These include AU Savings Account, AU Senior Citizen Account, AU Salary Account, AU ABHI Savings Account, AU Women Account, AU Kids Account, AU Student Account, Digital Savings Account, AU NRI Account & AU Institution Account.