Two types of accounts are opened in a bank, savings account and current account. Savings account is used for personal needs, interest is also received on depositing money in savings account. On the other hand, current account is opened to fulfill the financial need of business, there is no limit on making transactions in current account, overdraft facility is also available. No interest is paid on keeping money in current account.
In most of the banks, to manage current account, a balance of Rs. 5 thousand to Rs. 5 lakh has to be maintained. For example, to open a current account in HDFC bank, you have to maintain Rs. 25 to 50 thousand. But AU bank is one such bank in which you can open zero balance current account without maintaining any balance.
Benefits of AU Bank Zero Balance Current Account
The name of zero balance current account in AU Bank is AU Digital Current Account and AU Power Current Account. Both these accounts can be opened online and there is no need to maintain any balance in them.
- This account can be opened online from your mobile.
- There is no charge for not maintaining balance in it, Zero Balance Current Account.
- Unlimited online transactions can be done absolutely free.
- You will get a free VISA Business Debit Card which has no annual charge.
- There is a free cash deposit limit of up to ₹3 Lakhs every month.
- You will get 100 free cheque leaves every month.
Documents Required for Digital Current Account Opening
You will need to furnish the following documents to open an AU Digital Current Account with us:
- PAN of Individual (In Sole Proprietorships, same is required of Proprietor)
- GSTIN for Sole Proprietorship entity
- KYC document in the name of Sole Proprietorship (Digitally verifiable 2nd Entity Proof)
- Aadhaar of Authorized Signatory
- Initial funding via IMPS or NetBanking.
AU Bank zero balance current account fees and charges
| Parameter | Charges Applicable |
| Product Average Monthly Balance (AMB) | ZERO |
| Cash Withdrawal at any 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 Branch | INR 10 per transaction |
| IMPS (Digital) | Free |
| UPI/ Intra Bank Fund Transfer – Payments and Collections | Free |
| Card Type | Visa Business Gold |
| Debit Card Annual Fees | Free |
| ATM Transactions at AU Small Finance Bank ATM | Free |
| ATM Transactions at other bank ATM | 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?
You can open AU Bank Zero Balance Current Account online from your mobile. Full KYC will be done online through video call and you will not need to visit the branch even once. Debit card and cheque book will be sent to your home through post. You can manage your account from AU Bank mobile app.
- Click here to open AU Bank Zero balance Current account
- Choose account type like individual or proprietorship account.
- Enter PAN number, Aadhaar number and mobile number linked to Aadhaar.
- Enter your PIN code (this account is not available on all PIN codes right now)
- After this enter Aadhaar OTP.
- Keep entering your basic information.
- In the last you will get the option of video call KYC.
- Complete the KYC and after this the account will be opened
In this you also get a debit card for free. After opening the account, the debit card and checkbook will be sent to your home by post. If you download the AU bank mobile app and login to it, you will be able to manage your bank account from there.
