Explore the AU Bank Account Charges to Manage Your Finances
AU Small Finance Bank is a customer-centric financial institution dedicated to serving individuals and businesses’ diverse financial needs. With a strong commitment to financial inclusion and innovation, AU Bank has established itself as a trusted name in the Indian banking sector. Whether you’re in search of comprehensive banking services, convenient digital solutions, or personalized financial support, AU Small Finance Bank is your reliable partner on your financial journey. Our mission is to empower our customers with the tools and resources they need to achieve their financial goals while providing a seamless and rewarding banking experience. Welcome to AU Small Finance Bank, where your financial well-being is our top priority.
AU Small Finance Bank is committed to providing its customers with a range of financial solutions, including Savings Accounts tailored to meet various needs. While these accounts offer numerous benefits, it’s essential to understand the associated charges to make informed financial decisions. In this guide, we’ll walk you through AU Bank Savings Account charges, ensuring you have a clear understanding of what you pay for and how to manage your account efficiently.
AU Bank Account Charges
Let’s take a closer look at the charges associated with AU Savings Accounts:
AU Savings Accounts do not have an annual maintenance fee. However, it’s worth noting that there is an annual fee of INR 150 for the AU Debit Card.
Average Monthly Balance (AMB):
The Average Monthly Balance (AMB) is the minimum balance required in your Savings Account each month, calculated at the end of the month. For AU Savings Accounts, the minimum balance requirement is INR 5,000 for Urban branches and INR 2,000 for Core branches.
Charges for Non-Maintenance of AMB:
It’s important to maintain the required AMB to avoid additional charges. The charges for non-maintenance of AMB vary based on the type of Savings Account:
For Urban Branches:
- If your AMB falls below INR 2,500, a fee of 5% of the shortfall amount applies, with a maximum charge of INR 200.
- If your AMB is maintained between INR 2,500 and INR 5,000, a fee of 5% of the shortfall amount, up to a maximum of INR 100, is charged.
For Core Branches:
- If your AMB is below INR 1,000, a fee of 5% of the shortfall amount, with a maximum charge of INR 100, is levied.
- If your AMB is maintained between INR 1,000 and INR 2,000, a fee of 5% of the shortfall amount, up to a maximum of INR 50, is applicable.
Issuing Subsequent Chequebooks:
AU Bank charges a fee of INR 50 for issuing subsequent chequebooks as part of the delivery charges.
When opening a Savings Account, AU Bank provides a passbook for free. Additionally, AU Savings Account holders can access their account information conveniently through the AU 0101 App or NetBanking.
DD/Cheque Cancellation Charges:
In case you need to cancel a Demand Draft (DD), there’s a charge of INR 100 per instrument. Similarly, for cheque retrieval per instruction, the charge is INR 50 per cheque.
Understanding these charges is important for responsible financial management, ensuring that you can make informed decisions regarding your AU Savings Account. Please note that these rates and terms may be subject to change at AU Small Finance Bank’s discretion, so it’s advisable to stay updated with the latest informatio Maintenance Fee: n.
In conclusion, this comprehensive guide has provided an in-depth understanding of AU Small Finance Bank’s Savings Accounts, their types, associated charges, and the importance of transparency in banking. Whether you’re looking to grow your savings, manage your finances, or achieve specific financial goals, AU Bank’s Savings Accounts offer a reliable and rewarding way to secure your financial future. With competitive interest rates, monthly interest credits, and a range of account types, AU Bank empowers you to make the most of your money while ensuring that your financial well-being remains a top priority. Always stay informed about banking charges, review the schedule of charges, and enjoy a seamless banking experience with AU Small Finance Bank.
This comprehensive guide aims to empower you with the knowledge needed to make informed financial decisions and embark on a journey towards financial well-being with AU Small Finance Bank.
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 pin code 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.