AU Small Finance Bank
AU Small Finance Bank has grown from humble beginnings into one of the leading private banks in India. Established in 1996 in Jaipur, it has rapidly expanded with over 500 branches across the country.
The bank has developed specially tailored lending programs for India’s retail market. From auto loans to home loans, AU Bank strives to make financing accessible through customized products. They provide transparent information and guidance to consumer and commercial borrowers across India.
AU Small Finance Bank has increased efforts to facilitate investments and wealth management for retail clients. With Demat account opening, trading platforms, and investment products, customers can opt for comprehensive financial services.
AU0101 (Personal Account Number System)
AU Bank introduces a one-of-a-kind account numbering platform through AU0101. This system assigns every customer a distinctive 10-digit personal account number.
- Unlike traditional bank account numbers which are random, the AU0101 system links the customer’s key personal details to their account number. This includes attributes like name, date of birth, location and more encrypted into the 10 unique digits.
- When a customer opens an account with AU Bank, the AU0101 system uses intelligent technology to generate the account number. This integrates details only related to that specific customer into the assigned account number.
- The account number then functions on par with IFSC codes to enable smooth transfers, payments, withdrawals and other transactions. By inputting the 10-digit AU0101 account number, money can be moved to/from the linked account seamlessly.
The AU0101 platform delivers noteworthy benefits in account management for both customers and the bank through:
- Ease of Use: Customers can share a single 10-digit account number for transactions rather than multiple codes.
- Security: Integrating customer details directly into account numbers enhances privacy and safety.
- Accuracy: The advanced system minimizes errors that occur with random account numbers.
- Customization: AU0101 account numbers enable customized services based on the inbuilt customer intel.
AU Small Finance Bank Accounts
AU Bank furnishes a spectrum of bank accounts to suit the diverse needs of Indian customers.
AU Small Finance Bank Savings Accounts: The standard savings accounts at AU Bank enable customers to conduct routine transactions while earning interest on balances. These accounts cater to individuals and families with key benefits like free net banking, unlimited ATM transactions, debit cards and competitive interest rates.
AU Small Finance Bank Salary Accounts: The salary account variants allow professionals and businesses to manage payroll and expenses efficiently. Perks like unlimited free transactions, locker facilities and personalized checks make these accounts ideal for bulk transacting.
AU Small Finance Bank Current Accounts: AU Bank’s current accounts are tailored for more dynamic use by businesses, companies and enterprise. By waiving minimum balance requirements on these accounts, organizations can optimize everyday functioning.
AU Small Finance Bank Fixed and Recurring Deposits
- Digital Banking: By integrating cutting-edge digital infrastructure, AU Bank enables sophisticated account management from home. Account holders can pay bills, transfer funds, manage trade services, invest and more via Net & Mobile banking.
- Paperless Accounts: New account opening and maintenance processes are fully digitized. This allows remote ID verification, e-signing on forms to reduce paperwork along with e-statements for environmental friendliness.
- Secure Transactions: Multi-factor authentication and data encryption safeguard all digital transactions on AU Bank accounts. Customers can bank without worry through verification layers for authenticity.
AU Bank Debit and Credit Cards
AU Bank offers an array of world-class debit and credit cards to complement account holders’ lifestyles. The cards are enabled with the latest chip and tap pay technology for seamless transactions.
Debit Cards: The Visa powered debit cards come integrated with all savings and salary accounts at AU Bank. Customers can opt for different variants like classic, gold or platinum based on eligibility. The cards allow everyday spending while enabling ATM withdrawals and online transactions directly from the linked account.
Credit Cards: The AU Bank credit cards are specially designed for retail consumers and business needs. Options like Journey Miles Credit Card, Rewards Signature Card, Fuel Savings Card allow customers to earn points on expenditures. These can be redeemed for shopping, travel, entertainment rewards and more. Corporate cards also provide optimized billing and payment solutions for organizations.
Benefits and Rewards: In alignment with AU Bank’s retail focus, the cards are bundled with unmatched rewards. This includes higher reward point earnings on weekend spends, birthday bonus points and complimentary movie tickets. Credit card holders also get add-ons like personal accident insurance, lounge access and deals on dining, travel, healthcare and more.
Security
- Chip and PIN protected cards
- Real-time usage alerts to mobiles
- Temporary card locking facility via SMS
- Zero liability for reported unauthorized transactions
AU Bank Loans
AU Bank provides customized loans for India’s diverse borrowing needs across categories. With transparent terms and application processes, they make accessing finance quicker for clients.
- Home Loans: AU homes loans furnish funding for purchasing or constructing a house/flat with attractive interest rates. Through simple eligibility norms related to income, credit score and property documents, home buyers can get approved rapidly.
- Personal Loans: Unsecured loans for managing expenses like weddings, travel, medical needs or consolidating debt. Eligibility factors in applicant income, company, location and credit health for approval.
- Auto Loans: 100% financing made easy by AU for new and used cars and bikes. Flexible tenure up to 7 years and tailored EMI affordability assessments to buyers budget needs.
- Business Loans: Loans for working capital, equipment and inventory purchases are furnished for SMEs and MSMEs. Eligibility basis past revenue, projected cash flows and credit scores for customized terms.
Competitive Interest Rates: By leveraging technology and data, AU Bank delivers great rates across loans starting from just 7.5% p.a. Rates get decided basis the customer risk profiling for fair pricing to all.
Application Process
- Online application with uploading key documents
- Quick video KYC-based verification
- E-signing terms sheets post approval
- Direct loan account crediting
AU Bank Insurance
Recognizing the importance of insurance for financial security, AU Bank offers protection solutions in partnership with trusted insurance providers.
Life Insurance: Various options for life insurance include – whole life policies which cover at affordable premiums, child policies for funding education, tax-saving ULIPs that invest while securing family. Key benefits beyond a death benefit payout include waiver on premium payment for terminal illness and payout for accidental or total disability.
Health Insurance: AU Bank provides customized health insurance products for individuals and families. This includes indemnity plans to cover hospitalization costs, fixed benefit plans for OPD/day care expenses, critical illness riders and senior citizen top-ups. Policies can be enhanced with domestic/international coverage, restoration benefits and no claim bonuses.
General Insurance: Protection for assets via home building/contents insurance, shop policies for professionals, and motor insurance for cars/bikes. Customers can avail add on covers for personal accident losses, equipment depreciation along with flexibility of zero depreciation.
Coverage Options: Policies can be tailored basis needs like choosing from family floater plans or individual covers with maternity, new born and ambulance assistance benefits. Sums insured between INR 3 lakhs to 1 crore cater to different profiles.
AU Small Finance Bank Investment Products
AU Bank empowers customers to grow wealth by offering a range of investment solutions under one roof.
Demat Accounts: Opening a share trading account is simplified through AU Bank’s digital demat account opening journey. Customers can instantly start investing in stocks, IPOs, derivatives etc. across NSE, BSE and MCX exchanges via the trading platform. Seamless integration with bank accounts enables direct deposit of sale proceeds and transfers for trading.
Mutual Funds: AU bank provides an array of mutual funds spanning categories like equity, debt and hybrid schemes. New and existing investors can build portfolios via SIPs or lumpsum investments with guidance from relationship managers. Complete transparency on historical returns, ratings, charges simplifies decision making.
Bonds and Debentures: Fixed income securities like tax-free bonds, corporate bonds can be purchased conveniently through AU Bank for steady returns. Regular updates on new bond issues, timely allotments and integrated ownership records made available.
AU Bank Additional Services
Safe Deposit Lockers: With robust security systems across branches, customers can rent locker spaces to safely store valuables like jewelry, property papers and other important documents. Access control is enabled only for the account holder along with notifications for locker activity.
Remittances and Money Transfers: Customers can seamlessly transfer money within India or internationally across AU Bank’s partner exchange houses. This facilitates payment collection, overseas remittances along with FOREX support. Users also get competitive exchange rates and low remittance charges.