AU Bank Saving Account

AU Small Finance Bank offers a savings account that stands out in the world of banking. This savings account is designed to help you make the most of your money. What sets it apart? Competitive interest rates that can soar up to 7.25% per year, starting from September 11, 2023. These rates are not only attractive but are credited to your account on a monthly basis, ensuring that your money grows steadily and significantly. Whether you're a saver with a small balance or someone with substantial financial assets, AU Bank caters to your needs with a tiered interest rate structure. This means that the more you save, the more you earn, creating a financial snowball effect. With AU Bank's savings account, you're not just saving; you're building a stronger financial future, one month at a time.

Are you thinking about how to make more money from the money you already have? Well, here's an idea: consider opening a savings account with AU Small Finance Bank. Why, you ask? Because AU Bank offers some of the best interest rates in the banking world, and that means you can earn more from your savings.

Let's break it down in simpler terms. Imagine you have some money that you don't need to spend right away. You can put that money into a savings account at AU Small Finance Bank, and they'll pay you for keeping your money with them. This payment is called "interest," and it's like a little reward for letting the bank use your money.

Now, not all banks pay the same amount of interest. Some banks pay very little, while others pay more. AU Small Finance Bank is known for paying a good amount of interest, which is why people are talking about it.

AU Bank Interest Rates

Right now, AU Bank offers interest rates of up to 7.25% per year on their savings accounts. That's pretty high compared to many other banks. What's even better is that they add this interest to your account every month. So, not only are you earning interest on your money, but you're also getting it regularly, which can make your money grow faster.

Imagine you put your money in a savings account, and every month, a little extra money gets added to it. Over time, that little extra money can turn into a lot. This can be really handy if you have goals like buying a new phone, going on a vacation, or saving for the future.

AU Small Finance Bank wants to help you achieve your financial goals. They believe that everyone deserves the best when it comes to managing their money. That's why they offer these great interest rates. They want you to save smarter, so your financial future can be secure.

Now, let's talk about the numbers. AU Bank's interest rates depend on how much money you have in your savings account. They have different rates for different amounts. Here's a breakdown of the rates starting from September 11, 2023:

• If you have less than INR 1 Lac, you'll get 3.50% interest per year.
• If you have between INR 1 Lac and less than INR 10 Lacs, you'll get 5.00% interest per year.
• For balances between INR 10 Lacs and less than INR 25 Lacs, the interest is 7.00% per year.
• If your balance falls between INR 25 Lacs and less than INR 1 Crore, you'll still get 7.00% interest per year.
• For those who have between INR 1 Crore and less than INR 5 Crores, the interest rate is an impressive 7.25% per year.
• And even if you have a really large amount between INR 5 Crores and less than INR 10 Crores, you'll still get 7.00% interest per year.

Remember, these interest rates can change, so it's a good idea to check with the bank for the most up-to-date rates. AU Bank also calculates your interest every day and adds it to your account at the end of each month. So, you're not just earning interest on the original amount you put in; you're also earning it on the interest you've already earned. It's like a snowball effect for your money.

Now, let's say you have a balance of INR 5 Crores in your account. Here's how the interest rates would apply:

• For the first INR 99,999, you'll get 3.50% interest.
• Then, for the next chunk between INR 1 Lac and INR 9,99,999, you'll get 5.00% interest.
• If your balance falls between INR 10 Lacs and INR 24,99,999, you'll enjoy a 7.00% interest rate.
• The same 7.00% interest applies to balances between INR 25 Lacs and INR 1 Crore.
• But if you have more than INR 1 Crore up to INR 5 Crores, you get the highest rate of 7.25% interest.

It's important to note that these interest rates can change without much notice, so it's a good idea to keep an eye on them if you have a substantial amount of money in your account.

Now, let's answer some common questions you might have:

1. What is the frequency of interest payouts?
AU Small Finance Bank pays the interest on your savings account every month. This means that at the end of each month, they add the interest you've earned to your account. It's like a little bonus for keeping your money with them.

2. What is the savings account interest rate?
The interest rate on your savings account at AU Small Finance Bank is competitive, which means it's among the best rates you can find. However, it can change based on the bank's rules and the current situation in the financial world. AU Bank aims to provide you with attractive interest rates so that your savings can grow steadily.

conclusion

In conclusion, if you want to make the most out of your savings, consider opening a savings account with AU Small Finance Bank. Their high-interest rates, which can go up to 7.25% per year, can help your money grow faster. Plus, they add your interest every month, making it even better. Start saving smarter and secure your financial future with AU Bank Interest Rates. Your money deserves to work hard for you!

Open au bank saving account online with fayda app 

To initiate the process of opening an AU Bank savings account online, please follow the steps outlined below:

Step 1: Download the Fayda App

Your first step in opening an AU Bank savings account with no initial balance requirement is to download the Fayda App from your respective smartphone's app store.

Step 2: Select "Open an Account"

Once you have successfully downloaded the Fayda App, navigate to the AU Bank website within the app. Look for and select the "Open an Account" option to proceed.

Step 3: Choose Your Account Type

AU Bank provides various types of savings accounts, catering to different 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 4: Complete Your Personal Details

Upon selecting your 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: Upload Your KYC Documents

After entering your personal information, you will be prompted to upload your Know Your Customer (KYC) documents. These typically include your Aadhaar card, PAN card, and other relevant identification documents. Make sure to upload clear and valid copies of these documents.

Step 6: 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 suit your needs before proceeding.

Step 7: Review and Submit Your Application

Before finalizing your application, take a moment to thoroughly review all the information you have provided. If you spot any errors, you can make necessary edits before submitting. Once you are satisfied that all details are correct, click the "Submit" button to submit your application.

Step 8: 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 one-time password (OTP) sent to your registered mobile number. Follow the provided instructions to successfully complete this step.

Step 9: Receive Your Welcome Kit

Upon successfully opening your AU Bank savings account, you will receive a welcome kit from the bank. This 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 is straightforward and convenient. By following these steps, you can easily establish a savings account from the comfort of your own home. Should you encounter any difficulties during the process, do not hesitate to reach out to the bank's customer support for assistance.