AU Small Finance Bank Current Account Review
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AU Small Finance Bank Current Account -- Features 2024

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AU Small Finance Bank Current Account Overview

Navigating the AU Bank Current Account: A User-Friendly Banking Experience


The AU Bank Current Account offers unique features and benefits, catering to a diverse clientele including shopkeepers, self-employed individuals, traders, merchants, farmers, and businesses of medium to large scale. This account stands out for its tailored solutions and high approval rate, making it a competitive choice in the banking sector.

Setting up a current account with AU Small Finance Bank is a seamless and paperless banking experience. With its efficient approval process and distinct offerings, you can quickly establish your AU Bank Current Account in just a few straightforward steps. With a solid commitment to financial inclusion and innovation, AU Bank has established itself as a trusted name in the Indian Banking Sector; enjoy the advantages it brings to your financial management.


Features of AU Bank Current Account

AU Bank offers a range of unique features that set it apart. Numerous benefits such as an emphasis on quick and hassle-free services, a high approval rate and efficient processing times, position it as the preferred choice for businesses and individuals seeking a reliable and convenient current account providing a streamlined banking experience.


No Minimum Balance Requirement

With AU Bank's current account, a minimum balance is not required to maintain on select current account variants; this leads to unparalleled flexibility and convenience for account holders. This means that there is no minimum amount of money that needs to be kept in the account at all times. Therefore, no additional charges were incurred. 


Unlimited Transactions

Enjoy limitless transactions facilitating cash flow with AU Bank's current account, including deposits, cash transactions, cash withdrawals, transfers, and bill payments, all without incurring extra fees and instant access. In contrast with the usual banking hours of other banks, AU Small Finance Bank also offers Extended banking hours for its current account, which allows business owners to conduct their banking transactions and activities till 5 pm.


Experience financial independence and the flexibility of unlimited online transactions, fund transfers, and monthly withdrawals without restrictions on frequency or amounts. AU Bank ensures a seamless, cost-effective banking experience tailored to your diverse financial needs.


Personalized Cheque Book and Debit Card

AU Bank's current account provides ease of banking. You can quickly request a personalized chequebook facility and debit card with AU Bank by logging into your online banking or visiting a bank branch and providing the necessary details.

AU Bank currently offers no banking charges or issuance fees for debit cards. If your Debit Card is lost or stolen, the replacement cost can be INR 150. Additionally, if you are withdrawing funds from any bank ATMs outside India, you may incur INR 100 per instance.


Online and Mobile Banking Services

Going beyond traditional regular banking hours, AU Bank ensures seamless transactions through its online and mobile banking solutions through its feature-rich financial future Mobile app AU 0101. It provides comprehensive banking services through which you can enjoy seamless payment with free QR and UPI facilities. Enjoy a superior banking experience and quick access to numerous instant banking services like a paperless method of banking, which is possible via video or video banking facility.


Overdraft Facility

An overdraft facility, offered by banks, allows account holders to temporarily withdraw more money than is available in their account, creating a brief negative balance. The limit is set based on creditworthiness, with interest charged only on the overdrawn amount. Eligibility depends on factors like credit score and income proof.

While useful for short-term needs, responsible usage requires understanding limits, interest rates, eligibility criteria and monetary benefits, ensuring a rewarding banking experience.


24/7 Customer Support

For seamless assistance anytime, accessing 24/7 Customer Care is easy. Visit the official website, navigate to the 'Customer Support' tab, and have instant access to various support options like FAQs or chat support to contact customer service. Submit queries directly through the website via a chat box or online form, providing transparency in banking.


Alternatively, for more direct communication, call your relationship manager or email the email address provided on the website, or you can visit your nearest branch for any queries like document details, document upload etc.


Eligibility Criteria of AU Bank Current Account


For a smooth banking experience and enhanced benefits, familiarize yourself with the eligibility criteria for opening a current account at AU Small Finance Bank. The following entities are eligible:

1.     Self-employed Professionals and Non-Professionals

2.     Sole Proprietorships

3.     Private Limited Companies

4.     Public Enterprises

5.     Partnership Firms, including LLPs

6.     Cooperative Societies

7.     Hindu Undivided Families (HUF)


These categories encompass a diverse range of customers, ensuring instant access to banking services tailored to the specific needs of self-employed individuals, businesses, and other entities.

Documents Required for AU Bank Current Account

To successfully initiate the AU Small Finance Bank current account opening process, ensure you have the following documents ready:

1.     Entity proof corresponding to the customer type.

2.     PAN Number of the Entity (For Sole Proprietorships, the proprietor's PAN is also required).

3.     Address proof in the entity's name is different from entity proof.

4.     Official Valid Documents of Authorized Signatories & Beneficial Owners (if applicable).

5.     Beneficial Ownership Declaration (if applicable).

6.     Initial funding as per the Regular Current Account package.

7.     Credit facility declaration.

Having these documents in order will contribute to a smooth and efficient account opening experience, ensuring financial stability and seamless access to premium banking facilities. 

Current Account Charges at AU Small Finance Bank:

1.       Minimum Account Balance (MAB) or Average Monthly Balance (AMB):

a.     AU Current Account – Basic Service requires an AMB of INR 10,000 at Urban branches and INR 5,000 at Core Branch.

2.     Non-Maintenance Charges:

a.     Non-maintenance charges apply if the AMB is not met.

b.     For AU Current Account – Basic Service at Urban branches, fees range from INR 500 to INR 1,000 based on the AMB shortfall.

3.     Charges for Current Account Facilities:

a.     Nominal charges for RTGS/IMPS, NEFT, and handling low denomination notes and coins.

b.     Fees for services like cheque pick up and issuance of chequebooks.

4.     Debit Card Related Charges:

a.     Current Account holders receive a Debit Card.

b.     The replacement cost for a lost or stolen Debit Card is INR 150.

c.     INR 100 charge per instance for fund withdrawal at non-India bank ATMs.

Understanding these fees ensures a transparent approach to banking activities, allowing for a cost-effective and seamless banking experience at AU Small Finance Bank.


Types of AU Bank Current Accounts

AU Small Finance Bank offers distinct types of accounts and a range of products to cater to the diverse needs of professionals and businesses:

1.     AU Digital Current Account:

a.     Tailored for tech-savvy professionals and entrepreneurs.

b.     Features a convenient, paperless banking process and account opening process.

c.     Zero balance account with free 100 cheque leaves monthly.

d.     Free local and outstation cheque collections at AU locations.

e.     Allows a free cash deposit limit of up to ₹3 Lakhs.

f.      Comes with a complimentary Business Debit Card.

2.     AU Power Current Account:

a.     Ideal for merchants and retailers emphasizing digital transactions.

b.     Zero balance account with instant free AU QR.

c.     Offers free cash deposit up to ₹10 Lakhs per month, based on transactions.

d.     Includes 100 free cheque leaves monthly.

e.     Provides a free Business Debit Card.

f.      Overdraft facility based on transactions with an initial payment of ₹5,000.

3.     AU Regular Current Account:

a.     Designed to meet basic transactional needs with some premium banking facilities.

b.     Low average monthly balance requirement of ₹10,000.

c.     Comes with a free business debit card.

These accounts cater to various preferences, ensuring a comprehensive range of banking services to suit the financial requirements of AU Small Finance Bank customers.



What is the minimum balance requirement for an AU Small Finance Bank Current Account?

The minimum balance requirement for an AU Small Finance Bank Current Account may vary based on the specific or preferred account type you choose. For instance, the Basic Service Account requires an AMB of INR 10,000 at Urban branches and INR 5,000 at Core Branch.


Is a GST number mandatory for an AU Small Finance Bank Current Account?

GST is not a mandatory document for opening a Regular Current Account. However, you need to provide KYC documents of the entity and authorized signatories to open the Basic Current Account.


Who is Eligible to Open a Current Account with AU Small Finance Bank?

All business enterprises (Private Limited and Public companies, Partnership Firms, Proprietorship firms, Cooperative societies, Hindu Undivided Families, etc.) and resident individuals are eligible for opening a Regular Current Account with AU Small Finance Bank.

What are the features of the current account?

Current accounts typically offer features such as:

  • Unlimited transactions
  • Overdraft facilities
  • Chequebook and Debit Card
  • Online banking services
  • Quick and easy fund transfers

What are the benefits of a current account?

Benefits of having a current account include:

  • Efficient business transactions
  • Overdraft facility for flexibility
  • Access to various banking services
  • Convenient fund management for businesses

What are the four types of current accounts?

The four main types of current accounts are:

  • Standard Current Account
  • Premium Current Account
  • Foreign Currency Current Account
  • Small Business Current Account


Does the current account have an ATM?

Current accounts come with ATM facilities, allowing account holders to withdraw cash, check balances, and perform other transactions at ATMs.


Which is the best bank for a current account

The best bank for a current account depends on individual needs, business requirements, and the features offered by different banks. AU Bank provides some of the best features and benefits for its current account holders. By opening your account today, you experience the difference in banking designed with businesses in mind.


How To Choose Between A Current Account Vs Savings Account

Choosing between a current account and a savings account depends on your financial needs. An existing account is ideal for businesses with frequent transactions, while a savings account is suitable for personal savings. Consider factors like transaction frequency, interest rates, and account features to make an informed decision.


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