Investment
oi-Vipul Das
As of October 5, 2021, AU Small Finance Bank adjusted the interest rates on its savings bank deposits. Following the most recent adjustment, the bank is currently offering an interest rate on savings accounts of up to 7%. The bank also offers an online option to open a savings account, along with higher interest rates and monthly interest payments. The bank also offers a variety of savings account options, which are detailed below.
Types of savings accounts
Here are the types of AU Small Finance Bank savings accounts that customers should review before opening an account.
AU savings account
- Minimum balance: Rs 5000 per month
- Interest payable: up to 7% per year
- Suitable for: Any resident natural person
- Special advantage: automatic upgrade
AU salary account
- Minimum balance: Zero
- Interest payable: up to 7% per year
- Suitable for: Employee customers
- Special advantage: Tax advice and 24/7 assistance
AU institution account
- Minimum balance: Zero
- Interest payable: up to 7% per year
- Suitable for: Institutions
- Special advantage: Assistance & Tailor-made solution
UA Senior Citizen Account
- Minimum balance: Rs 5000 per month
- Interest payable: up to 7% per year
- Suitable for: Indian senior residents
- Special advantage: Exclusive offers and discounts
UA Women Account
- Minimum balance: Rs 5000 per month
- Interest payable: up to 7% per year
- Suitable for: Women only
- Special benefit: Family banking service and support
AU Children Account
- Minimum balance: Zero
- Interest payable: up to 7% per year
- Suitable for: Children
- Special benefit: Insurance coverage
NRI AU Account
- Minimum balance: Rs 5000 per month
- Interest payable: up to 7% per year
- Suitable for: NRI and PIO
- Special Advantage: Forex Transactions at Reasonable Rates
AU student account
- Minimum balance: Zero
- Interest payable: up to 7% per year
- Suitable for: Students only
- Special benefit: multiple insurance coverage
AU ABHI Account
- Minimum balance: Zero
- Interest payable: up to 7% per year
- Suitable for: Any resident natural person
- Special Benefit: Online Application Process
AU Digital Savings Account
- Minimum balance: Zero
- Interest payable: up to 7% per year
- Suitable for: Any resident natural person
- Special benefit: Instant account opening process
UA Small Finance Bank Savings Account Interest Rate
| Savings Account Incremental Amount Slab | Applicable interest rate (per year) |
|---|---|
| Balances below INR 1 Lac | 3.50% |
| Sales from INR 1 Lac to less than INR 10 Lacs | 5.00% |
| Balances from INR 10 Lakes to less than INR 25 Lakes | 6.00% |
| Balances from INR 25 Lakes to less than INR 1 Crore | 7.00% |
| Balances from INR 1 Crore to less than INR 10 Crore | 6.00% |
| Interest rates applicable on savings bank deposits on October 5, 2021, Source: Bank website |
AU Funding Bank Fixed Deposit Interest Rate
The bank’s most recent interest rates for domestic fixed deposits and NRE / NRO for amounts below Rs 2 Crore are listed below.
| Mandate | Regular interest rates | For seniors |
|---|---|---|
| 7 days to 1 month 15 days | 3.50% | 4.00% |
| 1 month 16 days to 3 months | 4.00% | 4.50% |
| 3 months 1 day to 6 months | 4.35% | 4.85% |
| 6 months 1 day to 12 months | 4.85% | 5.35% |
| 12 months 1 day to 15 months | 5.85% | 6.35% |
| 15 months 1 day to 18 months | 5.75% | 6.25% |
| 18 months 1 day to 24 months | 5.75% | 6.25% |
| 24 months 1 day to 36 months | 6.00% | 6.50% |
| 36 months 1 day to 45 months | 5.75% | 6.25% |
| 45 months 1 day to 60 months | 5.75% | 6.25% |
| 60 months 1 day to 120 months | 6.00% | 6.50% |
| Source: Bank website, wef August 25, 2021 |
Article first published: Wednesday October 6, 2021, 3:49 PM [IST]
