How to open AU Bank Zero Balance Savings Account?

This was posted by Luka Bethala on our FinTalks Facebook Group on 5th March 2022.

AU Bank is now accepting Zero Balance Savings Accounts with a high-interest rate of 7%, compared to other banks.

Features of AU Bank:

  1. Zero Balance Account.
  2. Rupay Debit Card charges ₹180 per Year.
  3. Rupay Debit Card can be used in Amazon Add Money Offer, every Friday.
  4. 7% Interest Amount.
  5. Interest Credited to your Account Monthly.

How to Apply for AU Bank Savings Account?

Here’s the step by step guide:

  1. Download the AU0101 App: Google Play | App Store.

  2. Register for an Account using your Mobile Number.

  3. Apply for a Savings Account from inside the App. Keep your Aadhar Number, PAN Card (physical), a small white paper, and pen handy for vKYC.

  4. Fill All Basic Details Like Address, Pincode Etc.

  5. Fill Occupation Details & Income. Fill as Salaried (Useful For Pre Approved Credit Cards)

  6. Now Select AU Digital Savings Account. Zero Balance Account.

  7. Optional: If you want, you can opt for RuPay Platinum Debit Card. This can be used for Amazon Friday Add Money Offer. Else just turn off the slider if you do not wish to take Debit Card. The same goes for Passbook. No need to take it if you won’t need it.

  8. Select Nearest Branch And Fill All Details & Verify.

  9. You will get a video KYC link in email or SMS.

  10. Complete Video KYC Carefully With Proper Internet Once You received Link.

  11. Complete Video KYC in Working Hours in Working Days with PAN & Signature.

Fees & Charges: Although the Savings Account is Free if you opt for Debit Card, the Charges are ₹180 per Year. I personally didn’t take Debit Card.

As of now, this is only available In Selected Cities.

Note:

  1. In case you use this Bank Account Regularly, You May get Pre Approved Credit Card Offer Without Any Income Proof Soon.

  2. If you do not take a Debit Card, you need to activate your Account for Money Transfer via Aadhaar OTP based verification, which is enabled from 15th March 2022.

  3. You will receive a Savings Account opening kit within 7 days. It came via Bluedart for me.

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