AU Bank is a small finance bank which gives as high as up to 7.25% interest on its savings accounts. This is almost equivalent to what you get on a term deposit or a PPF. With this high interest (of course based on account balance), you get the option to choose from as many 14 types of savings accounts for women, kids, students, senior citizens and more.
Firstly, let’s give on an overview of AU Small Finance Bank Savings Account interest rates.
AU Bank Savings Account Interest Rate, 2023
Below-mentioned are the different interest rates offered by AU Small Finance Bank on savings account with different balances:
| Account Balance | Rate of Interest (per annum) |
| Less than Rs 1 lakh | 3.50% |
| Rs 1 lakh to less than Rs 10 lakhs | 5.00% |
| Rs 10 lakhs to less than Rs 25 lakhs | 6.00% |
| Rs 25 lakhs to less than Rs 1 crore | 7.00% |
| Rs 1 crore to less than Rs 2 crores | 7.25% |
| Rs 2 crores to less than Rs 5 crores | 7.25% |
| Rs 5 crores to less than Rs 10 crores | 7.25% |
Disclaimer: Effective from 12th December 2022. These rates are subject to change.
How to Open an AU Bank Savings Account Online?
Follow these instructions to open an AU savings account online:
Step 1: Open AU Small Finance Bank website (https://www.aubank.in/personal-banking/savings-account/digital-savings-account), click on Accounts and then select ‘AU Digital Savings Account’.
Step 2: Enter your mobile number linked to your Aadhaar. (How to link Aadhaar with mobile number?)
Step 3: Type in the OTP received on your mobile number and hit ‘Enter’.
Step 4: Type in your PAN and click on the ‘Confirm’ button.
If you don’t have PAN, click on the link stating the same and proceed.
Step 5: Now, enter your Aadhaar number and click on ‘Get Aadhaar OTP’.
Step 6: Enter this OTP.
Upon successfully submitting the Aadhaar OTP, follow the steps as they appear on your screen. Keep your PAN and Aadhaar with you and make sure your device has working microphone and camera for video KYC.
Documents Required to Open an AU Bank Savings Account?
You will need the following documents, in addition to any other documents that the bank may ask basis the type of savings account you’re opening, in AU Small Finance Bank:
- PAN Card
- Aadhaar Card (if opening online or wish to avail of government schemes and/or subsidies)
- ID Proof (Aadhaar Card, PAN Card, Driving License, etc.)
- Address Proof (Aadhaar Card, Voter’s ID Card, DL, Ration Card, utility bills, etc.)
- Passport-sized recent photograph in colour
- Signature on a white paper (for video KYC)
Types of AU Bank Savings Accounts
The following mentioned are the types of savings accounts offered by AU Small Finance Bank:
AU Royale
- For those residing in India (adults only)
- Can be opened online via video banking (only PAN & Aadhaar reqd.)
- Monthly interest payouts
- Average Monthly Balance: Rs 1 lakh
- AU Royale debit card offered
- Dedicated Relationship Manager appointed
AU Platinum
- Average Monthly Balance: Rs 25,000 (collective of all family members)
- Amazon vouchers worth INR 1250 as joining benefit
- Complimentary Visa Platinum Debit Card
- 24×7 access to your funds through AU 0101 App or AU 0101 Net-Banking
- 1% monthly cashback up to INR 100 on a minimum Debit Card spend of INR 2500 per month (non-fuel spends only, excluding staff)
- Extended AU bank timings from 4 pm to 6 pm
AU Royal World
- Can be opened for NRE and NRO Accounts
- Monthly Avg. Balance of INR 1 Lakh in Savings Account or combined balance in NRE & NRO Savings Account
- 50% lifetime discounts on lockers
- Complimentary Visa Platinum Debit Card with higher insurance coverage, Green PIN facility & increased withdrawal and POS limits
AU Platinum World
- A program designed to offer exceptional family banking facilities to enrich banking experience through NRI Savings Account
- Monthly interest payout
- 4 complimentary Domestic & 4 International airport lounge access per year
- Monthly Avg. Balance of INR 1 Lakh in Savings Account or combined balance in NRE & NRO Savings Account
- Complimentary Visa Platinum Debit Card
AU Savings Account
- Eligibility: Resident of India, 18 years old or above with necessary KYC documents issued by the government
- Can be opened online via video banking or offline as well
- Can also be applied by calling on 1800-1200-1200
- Average Monthly Balance: Rs 5,000 for urban branches and Rs 2,000 for core branches
AU Women Savings Account
- Eligibility: A resident of India and a woman of at least 18 years of age
- Monthly interest payouts
- Dedicated relationship officer
- Amazon vouchers up to Rs 300 as an onboarding privilege (T&Cs Apply)
- Visa Gold Debit card offered
- Average Monthly Balance: Rs 5,000 for urban branches and Rs 2,000 for core branches
AU Senior Citizen Savings Account
- Eligibility: Indian citizen residing in India and are 60 years old or above
- Option of monthly and quarterly interest payout
- Flat 50% discount on lockers
- VISA Gold Debit Card with enhanced insurance coverage
- Average Monthly Balance: Rs 5,000 for urban branches and Rs 2,000 for core branches
AU NRI Savings Account
- Eligibility Criteria
- NRI:
- An Indian citizen residing overseas for employment, studies, business, or vocation
- An Indian posted in the UN; an official deputed abroad by the Government of India; a public sector undertaking
- An Indian national mariner; stationed on an oil rig; works with a foreign-registered airline
- PIOs or OCIs:
- An individual holding a foreign passport
- Has a grandparent or parent of Indian citizenship lineage
- Spouse of an Indian citizen or spouse of a PIO
- NRI:
- Monthly interest payout
- Free of cost Hospicash facility to cover your family members in India
- Free Tax Advisory service in India
- Free Post Office Box facility
AU Digital Savings Account
- To be opened online (digitally)
- No minimum balance requirement
- RuPay Platinum Debit Card with insurance cover and discounts, etc.
- Contactless payments up to Rs 5,000 in India via debit card
Other AU savings accounts include AI Student Account, AU Kids account, AU Institution Account, AU Abhi Account and BSBDA Savings Account.
AU Bank Savings Account Customer Care
The below-mentioned are the AU Bank toll-free customer care numbers:
- 1800-1200-1200
- 1800-26-66677
Below-mentioned are the non-toll free AU Bank customer care numbers:
- 1860 1200 1200
- 0141 – 7141000
- 0141 – 6133000
- 0141 – 3071800
AU Customer Care for NRI accounts:
- Give a missed call on +91 9783037444
- Write to nriservices@aubank.in
AU Bank Savings Account: Fund Transfer Process
The below-mentioned are the steps to transfer funds from your AU Bank savings account online using the netbanking option:
Step 1: Login to your AU Bank netbanking account.
Step 2: Under the Main Menu, click on Make Payments and choose any of the following options: Own Account, Other IDBI Account, NEFT/RTGS or IMPS Payment (refer below image)
Step 3: Provide your account details, beneficiary details, amount, frequency type, transaction date, network, transaction purpose and remarks.
Step 4: Enter the OTP.
Your payment will be complete and you will receive a confirmation message.
AU Bank Savings Account: FAQs
You can earn up to 7.25% interest on your AU Bank savings account.
Yes, you can choose from AU digital savings account as well as BSBDA savings account. Both these AU savings accounts come with zero minimum balance requirement.
Yes, AU Bank has a specifically designed savings account for minors by the name of AU Kids Account. You can open it for your child if they are a resident of India and under 18 years of age.
You get the option to choose from either the monthly or the quarterly payout in AU Senior Citizen savings account.
The interest received on AU Kids account will be added in your income under ‘Income from Other Sources’ and will be taxable. That said, as per the bank website, “if the child is earning, you can claim a tax exemption of INR 1500 per minor child under Sec 10(32) of the Income Tax Act, 1961”.
