7 Benefits of AU Bank Savings Account that make your finances ease
AU Bank Saving Bank Account
AU Small Finance Bank’s Savings Account offers a multitude of benefits that cater to your financial needs and aspirations. With the potential to earn up to 7.25% p.a. in interest and the convenience of monthly interest payouts, your money grows steadily. The added luxury of domestic airport lounge access via your AU Small Finance Bank Debit Card enhances your travel experience. Furthermore, the bank eliminates the stress of maintaining a minimum balance, allowing you to manage your finances with ease. The feature-rich Rupay Platinum Debit Card offers purchase protection, enhanced insurance coverage, and exciting discounts. AU Small Finance Bank’s state-of-the-art digital banking platform ensures 24×7 access to your funds, simplifying transactions and enabling you to book flights, hotels, recharge your mobile, and explore various financial products and services from the comfort of your device. With extended banking hours and a tap-and-go contactless debit card, AU Small Finance Bank prioritizes your convenience, making your financial journey more rewarding and efficient.
Benefits of AU Bank Saving Bank Account
Imagine you’re saving up for a big dream or preparing for a rainy day. Now, think about where you’d stash all that hard-earned money. Keeping it hidden in your wardrobe or under your mattress might not be the smartest idea. It’s not safe, and it’s not helping your money grow. That’s where a Savings Account comes in. It’s like a guardian for your money, keeping it secure while also letting it earn more. How? Well, it pays you interest on the money you put in. Let’s take a closer look at the advantages of having a Savings Account.
Cultivating the Savings Habit
A Savings Account is an excellent tool to encourage and build the habit of saving. This is especially helpful for people who receive monthly salaries or fixed incomes. It nudges you to set aside a portion of your earnings regularly, ensuring that you’re ready for future expenses or big goals.
Monthly Interest Payouts
Take AU Small Finance Bank, for instance. They’ve taken the concept of a Savings Account to the next level. They offer a monthly interest payout. This means you get to enjoy the benefits of your saved money every month, not just once in a blue moon. This consistent flow of interest can make a significant difference in your financial planning.
AU Small Finance Bank goes the extra mile by offering an auto-upgrade feature. After a certain period, account holders can enjoy special privileges and benefits. This not only rewards your commitment to saving but also enhances your overall banking experience.
Convenience in Transactions
In today’s fast-paced world, convenience is key. Savings Accounts provide you with ATM/Debit Cards, making transactions a breeze. You can easily make payments, withdraw cash, and check your account balance without the hassle of dealing with physical cash.
Online Banking Facilities
Savings Accounts, especially those offered by banks like AU Small Finance Bank, come with a host of online banking facilities. You can enjoy services like NetBanking, NEFT/RTGS/IMPS for instant money transfers, and the convenience of online shopping, all from the comfort of your home.
Monthly Interest Payouts (Yes, Again!)
We’re emphasizing this feature again because it’s a game-changer. AU Small Finance Bank offers monthly interest payouts, extended locker hours, and a streamlined deposit process. This level of ease ensures that you get the most out of your Savings Account.
Joint Account Option
Savings Accounts often allow joint account systems, encouraging couples to save together. This can be a wonderful way for spouses to work towards common financial goals and strengthen their financial security as a team.
The benefits of a Savings Account go beyond what meets the eye. Banks like AU Small Finance Bank offer various additional perks and features that can enhance your banking experience. These may include personalized services, access to exclusive offers, and much more.
Savings Account Eligibility Criteria
If you’re looking to open a Savings Bank Account, there are some eligibility criteria you need to meet. You need to be a resident of India, and you should be above 18 years old.
Documents Required to Open a Savings Account
To open a Savings Account, you’ll need to submit one of the following Identity Proofs: Passport, Voter ID, Permanent Driving License, Permanent Account Number Card (PAN Card), Aadhaar Card, or NREGA Job Card.
The bank will also ask for one of the following documents for Residence Proof: Passport, Voter ID Card, Electricity, Water, or Telephone Bill, Gas Pipeline Bill, Property Tax Bill, or Aadhaar Card. These documents help the bank verify your identity and address, ensuring a secure and smooth account opening process.
Open a Digital Savings Account from Home with Video Banking
Opening a Digital Savings Account is now easier than ever, thanks to Video Banking. AU Small Finance Bank, for example, offers Video Banking to open an AU Digital Savings Account. This process is entirely paperless and can be completed using their Video Banking facility.
With AU Digital Savings Account, you can get started in just a few minutes. It’s as simple as making a video call to your friends or family. You can connect with AU Bank at your convenience, complete your KYC (Know Your Customer) process, and start operating your Digital Savings Account.
AU Video Banking is designed with your security in mind. Your mobile number is authenticated using a one-time password (OTP), and they use AI-based facial recognition along with personalized security questions to ensure your information remains safe.
Tips for Choosing the Best Savings Account
- When selecting a Savings Account, consider these tips:
- Opt for a bank that offers the convenience of paperless banking.
- Many banks, like AU Small Finance Bank, provide attractive deals on their Debit Cards, ranging from cash-back offers to insurance coverage.
- Choose a bank that offers doorstep services such as cash collection or delivery.
A Savings Account can also unlock access to a wide range of services, including Mutual Funds, Demat accounts, Lockers, Asset Products, and Insurance, among others.
In summary, Video Banking makes opening a Digital Savings Account a hassle-free experience. It’s secure, quick, and can be done from the comfort of your home. When choosing a Savings Account, look for convenience, attractive Debit Card deals, and additional services that can enhance your banking experience.
In conclusion, a Savings Account is not just a place to park your money; it’s a tool that can help you secure your financial future. With features like monthly interest payouts, online banking facilities, and the convenience of transactions, a Savings Account simplifies money management. And when you choose a bank like AU Small Finance Bank, you can enjoy even more advantages that make your financial journey smoother and more rewarding. So, don’t just save; save smartly with a Savings Account that caters to your needs and goals.
To initiate the process of opening an AU Bank savings account online with the convenience of Fayda Pay partner Reijiro, please follow the steps outlined below:
Step 1: Download the Fayda Pay Partner App by Reijiro
Your first step in opening an AU Bank savings account with no 0 balance requirement is to download the Fayda Pay App from your respective smartphone’s app store.
Step 2: Register or login
Fill you mobile number, name, select pincode and submit OTP for registration or enter mobile number and password to login
Step 3: Enter Mobile number and name of the applicant
Step 4: Complete Personal Information
Upon selecting preferred account type, you will be redirected to a page where you must input your personal and contact information. This includes details such as your name, date of birth, mobile number, email address, residential address, and other necessary particulars. Ensure that all mandatory fields are accurately filled out.
Step 5: Select the ‘Bank account’ category
Once you select the bank account category select AU bank from the list
Step 6: Select the ‘Open an Account’ option
Once you are on the AU Bank website, look for the ‘Open an Account’ option. Click on the option to proceed.
Step 7: Choose Your Preferred Account Type
AU Bank provides various types of savings accounts, designed to cater to diverse financial needs. These options may include regular savings accounts, digital savings accounts, senior citizen savings accounts, and more. Select the account type that aligns with your preferences and click on “Apply Now.”
Step 8: Upload Your KYC Documents Securely
After entering your personal information, you will be prompted to securely upload your Know Your Customer (KYC) documents. These typically include your Aadhaar card, PAN card, and other relevant identification documents. It’s essential to upload clear and valid copies of these documents.
Step 9: Customize Your Account Features
Following the document upload, you will have the opportunity to customize your savings account by selecting additional features such as a debit card, mobile banking, net banking, and other relevant services. Choose the options that best align with your financial preferences before proceeding.
Step 10: Review and Submit Your Application
Before finalizing your application, take a moment to carefully review all the information you have provided. If you discover any errors, you can make necessary edits before submitting. Once you are satisfied that all details are correct, click the “Submit” button to send your application.
Step 11: Complete the Electronic KYC (e-KYC) Process
After submitting your application, you will be directed to complete the Electronic KYC (e-KYC) process. This involves verifying your details and documents through a secure one-time password (OTP) sent to your registered mobile number. Follow the provided instructions to successfully complete this step for added security.
Step 12: Receive Your Welcome Kit
Upon successfully opening your AU Bank savings account through Fayda Pay’s partnership with Reijiro, you will receive a welcome kit from the bank. This comprehensive kit will contain essential information, including your account number, debit card, and other important details.
In summary, the process of opening an AU Bank savings account online with Fayda Pay partner Reijiro is straightforward and secure. By following these steps, you can easily establish a savings account from the convenience of your own home.