Introduction:
In the realm of banking, individuals and businesses have two primary types of accounts to choose from: savings accounts, designed for personal needs with the benefit of interest accrual, and current accounts, tailored to meet the financial requirements of businesses with no interest on deposited funds. While many banks mandate a minimum balance for current accounts, AU Bank stands out by offering a unique opportunity to open a zero-balance current account.
Types of AU Bank Zero Balance Current Accounts:
AU Bank provides two types of zero-balance current accounts: AU Digital Current Account and AU Power Current Account. These accounts can be opened online, eliminating the need to maintain a minimum balance.
Key Features and Benefits:
- Online Account Opening: Click Here
- Both AU Digital and AU Power Current Accounts can be opened conveniently through mobile devices.
- Zero Balance Requirement:
- No need to maintain a minimum balance, making it a hassle-free banking option.
- Unlimited Online Transactions:
- Enjoy the freedom of unlimited online transactions without any charges.
- Free VISA Business Debit Card:
- Receive a complimentary VISA Business Gold Debit Card with no annual fees.
- Free Cash Deposit:
- Avail of free cash deposit facilities for amounts up to ₹3 Lakhs every month.
- Free Cheque Leaves:
- Benefit from 100 free cheque leaves every month.
AU Digital Current Account Opening, the following documents are required:
- PAN of Individual or Proprietor (in case of Sole Proprietorships)
- GSTIN for Sole Proprietorship entity
- Digitally verifiable KYC document in the name of Sole Proprietorship
- Aadhaar of Authorized Signatory
- Initial funding via IMPS or NetBanking
AU Bank’s zero-balance current account comes with the following charges:
- Product Average Monthly Balance (AMB): ZERO
- Cash Withdrawal at AU Small Finance Bank Branch: Free
- NEFT/RTGS Collections & Payments (Digital): Free
- NEFT Payments at Branches: Up to 1 Lakh – INR 2 per transaction; Above 1 Lakh – INR 10 per transaction
- IMPS and RTGS Payments at the Branch: INR 10 per transaction
- IMPS (Digital): Free
- UPI/Intra Bank Fund Transfer: Free
- Debit Card Annual Fees: Free
- ATM Transactions at AU Small Finance Bank ATM: Free
- ATM Transactions at other bank ATMs: 5 Free transactions; thereafter, INR 20 per Financial transaction and INR 8 per Non-Financial transaction
- ATM Pin Generation: Free
How to Open AU Bank Zero Balance Current Account:
- Visit the AU Bank website and click on the link to open a zero-balance current account.
- Choose the account type, such as individual or proprietorship account.
- Enter PAN number, Aadhaar number, and Aadhaar-linked mobile number.
- Set your PIN code (currently available on all PIN codes).
- Enter Aadhaar OTP.
- Provide basic information.
- Complete the video call KYC option.
- Once KYC is complete, your account will be opened.
Conclusion:
AU Bank’s zero-balance current account is a revolutionary banking solution that offers flexibility, convenience, and a range of features without the burden of maintaining a minimum balance. By embracing digital processes, AU Bank makes banking accessible and user-friendly, catering to the evolving needs of individuals and businesses alike.
