AU Abhi Savings Account is a zero balance instant savings account introduced by AU Small Finance Bank that you open using your Aadhaar number & PAN details.
Savings Account is a must-have financial product. Now, you can stay indoors and open instant savings account from the comfort of your home. Many banks such as Kotak Mahindra Bank, Axis Bank offer online savings account to their customers. Not such big banks. Small Finance banks such as Ujjivan Small Finance Bank and AU Small Finance Bank have also introduced digital savings account that can be opened instantly.
There are three ways to open AU Small Finance Bank’s Digital account: website, downloading mobile app and Whatsapp in just a few steps.
Enter your mobile number, Aadhaar number, PAN and your communication address.
Give the applicable Foreign Account Tax Compliance Act (FATCA) declaration.
Add your nominee’s details.
And that’s it.
Your AU ABHI Savings Account is open and you can see your account and virtual Debit Card details. You can keep a note of it for further reference.
Many banks have introduced WhatsApp banking to make the customer experience seamless. You can also open the bank account through within three minutes.
Step 1: Give a missed call on +91 8422992273 or click here if you are on your mobile phone to initiate conversation.
Step 2: You will receive an OTP on SMS to confirm while at the same time a conversation on WhatsApp will be initiated
Step 3: Provide Aadhaar number, PAN, and other required details as required for completing account opening.
As this account without any physical verification, the validity of this account is one year. To continue using the account and to remove transaction limits, you need to convert the account into a full-fledged savings account by completing the KYC process.
The bank account does not have a minimum average balance. This means that you don’t have to worry about keeping a minimum balance in your savings account.
With this digital savings account, you don’t have to wait for hours or fill paper documents to open a bank account. You can open it within a few minutes by downloading the mobile banking app, through the website or WhatsApp.
In a savings account, the interest is calculated daily and the interest earned is added to the customer’s account quarterly. AU Abhi Savings Account offers monthly interest payout to its customers.
As an online savings account, it offers free online transfer through IMPS, NEFT and RTGS to account holders.
After you open the savings account, the bank will provide you with a Virtual RuPay Debit Card that you can use to carry out online transactions.
Au Small Finance Bank offers attractive interest rate to its customers. The interest rates apply to incremental balances.
|Savings Account Incremental Amount slab||Rate of Interest Applicable (per annum)|
|Balances less than INR 1 lakh||4.00%|
|Balances from INR 1 lakh to less than INR 5 Lacs||5.00%|
|Balances from INR 5 Lacs to less than INR 10 Lacs||6.00%|
|Balances from INR 10 Lacs to less than INR 5 Crores||7.00%|
|Balances from INR 5 Crores to less than INR 10 Crores||6.50%|
The account comes with a number of restrictions that are lifted once you complete the KYC process.
Completing your KYC process is a quick and easy process. You can schedule an appointment through AU ABHI app or by calling AU Bank customer care at 1800 1200 1200. The verification will be carried by a bank representative. After the completion of the verification, your account will be converted into a regular savings account without any restrictions.
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