AU Small Finance Bank Zero Balance Account Online: How to Open, Limits & Eligibility

Most banks require a minimum balance to be maintained in the savings account. This is not necessarily a bad practice, but many people find it difficult to maintain a minimum balance. Keeping this in mind, AU Small Finance Bank, like other top banks, provides its customers with the comfort of zero-balance accounts. This not only relieves them of the stress of maintaining a particular amount but also makes financial freedom accessible to all, thus making banking easy and inclusive.

In this blog, we will explore the significant details related to the AU Small Finance Bank zero balance account, allowing customers to open a savings account even with zero balance.

So, read this blog till the end to learn more.

What Is a Zero Balance Account In an AU Small Finance Bank?

Financial institutions or banks usually require account holders to maintain a minimum balance. This minimum balance can vary from bank to bank; however, it usually ranges from Rs. 5,000 to Rs. 10,000.

However, a zero-balance account at AU Small Finance Bank does not require a specific amount to stay active. Customers will also not be charged a penalty for not depositing funds. So, AU zero-balance accounts are ideal for those looking for a convenient way to manage their finances.

How To Open Zero Balance Accounts In AU Small Finance Banks?

Applying for a zero balance account at AU Small Finance Bank online involves no technological complications. There is a simple process for AU Small Finance Bank zero balance account opening online, which includes the following steps:

• Visit the official website of AU Small Finance Bank.
• Navigate to the “Personal” section from the top left corner of the home page and click on it.
• Now select the “Open Account” option under the “Savings Account” section.
• You will be redirected to another page where you need to enter your Aadhaar Card number for verification.
• Choose the zero balance account option.
• Provide the necessary details as asked.
• Now, attach the scanned copies of the required documents for KYC verification.
• Review the details you entered and submit.

After successfully verifying your application, you will be informed of your account number on your registered mobile number and email ID. You will also receive your debit card at your permanent address, as mentioned in the application.

In case you wish to apply for an AU Small Bank zero balance account through offline mode, you can also do so by following the below steps:

• Visit the nearest branch of AU Small Finance Bank in your area.
• Navigate to the necessary bank authority member and request an application form to open a zero-balance account.
• Fill in the application, attach copies of the required documents, and submit it to the bank.

Once the bank processes your application and completes the verification, you will receive your account and debit card at your registered mobile number and address.

AU Small Finance Zero Balance Account Rules

Opting for an AU Bank current account with zero balance requires you to be aware of a few rules or terms and conditions that these come with. Go through the following points to learn about the same:

• There is no requirement to maintain a minimum balance to keep your savings or current account active. You can keep your account at zero balance without any penalties.
• All customers with zero balance accounts at AU Small Finance Bank will receive an interest rate of 7.25% annually. The bank must be consulted beforehand about any changes in the interest rates.
• All customers will get services like debit cards, mobile banking, internet banking, UPI services, etc.
• There will be limits to withdrawals from ATMs and the number of transactions customers can perform in a day, which should be ensured by connecting with the bank.
• To be eligible, all individuals applying for AU Small Bank zero-balance accounts must be 18 years of age or older.
• All applicants of zero-balance accounts at AU Small Finance Bank must provide their KYC details for address and identity verification.

AU Small Finance Bank Zero Balance Account Eligibility Criteria

AU Small Finance Bank allows customers from different segments to open zero-balance accounts with them. However, there are a few eligibility criteria that you need to satisfy to apply for the same. Likewise, applicants must fulfil the eligibility parameters before applying for an AU Small Finance Bank zero balance account. These include the following:

• All individuals applying for zero balance accounts at AU Small Bank must be at least 18 years of age or above to be eligible for the same.
• All applicants must be citizens of India and hold valid Indian citizenship.
• All applicants must comply with the KYC or Know Your Customer guidelines mandated by the Reserve Bank of India (RBI).

AU Small Finance Bank Zero Balance Account  Required Documents

Along with the application form, all individuals must also submit a set of required documents. Learning about such requirements shall enable you to accumulate those well in advance. These include the following:

• Proof of identity (Aadhar Card, Voter ID Card, passport, driving licence, NREGA job card)
• Proof of permanent address (Aadhar Card, Voter ID Card, passport, driving licence, NREGA job card)
• PAN Card or Form 60 (for those applicants who do not have a PAN Card)
• Two copies of recent passport-size photographs

Please note that applicants may be required to submit additional documents depending on the type of zero-balance account they apply for. Thus, it is better to inquire about this before initiating the application process.

AU Small Bank Zero Balance Account Withdrawal Limit Per Day

AU Small Finance Bank's zero-balance savings accounts allow unlimited debit card transactions at AU Bank ATMs. Transactions at other ATMs are capped at 5 free monthly withdrawals, limited to Rs. 1,00,000, after which you will be charged Rs. 50 per withdrawal.

AU Small Bank Zero Balance Account UPI Transaction Limit

AU Small Finance Bank has various transaction limits for different types of transactions so that customers can carry out their transactions in a very secure and flexible way. The per-transaction limit and the daily transaction limit is Rs. 1,00,000. Newly registered users have their specific limits, which are ₹5,000 for the first 24 hours on Android devices and Rs 15,000 for the first 72 hours on iOS devices. 

For IPO transactions, the limit is Rs 5,00,000, and for capital market investments, collections, insurance payments, and foreign inward remittances, the cap is Rs 2,00,000. These structured limits are designed to offer convenience and security for diverse banking needs.

The AU small finance bank zero balance accounts are ideal for individuals who find it tedious to maintain a minimum balance in their savings account. Thus, with a zero balance account, you can peacefully keep your account active without depositing any amount or being charged penalties. Nevertheless, make sure to connect with the bank to resolve all your queries and proceed with your zero-balance account application in an informed way.

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