AU Small Finance Bank Introduces Tailored Accounts for Rural Customers
Newzdaddy Business Updates
In a significant move towards financial inclusion, AU Small Finance Bank, India’s largest SFB, has launched two specialized accounts – ‘AU Swadesh Savings Account’ and ‘AU Swadesh Current Account’ specifically designed for customers in Swadesh branches. These innovative products underline AU SFB’s commitment to providing customer-focused banking solutions and promoting digital banking in rural and semi-urban regions.
AU Swadesh Savings Account Features:
The AU Swadesh Savings Account focuses on making transactions not only easy but also rewarding. It offers a remarkable 5% cashback on various transactions, including debit card expenditures, bill payments, and recharges through AU0101, promoting digital inclusion. Powered by the RuPay Platinum Debit Card, it provides insurance coverage for personal and air accidents, along with complimentary airport lounge access. The account offers flexibility, allowing customers to maintain balances in either a Savings Account or Fixed Deposits.
AU Swadesh Current Account Highlights:
Addressing challenges faced by businesses in cyclical rural regions, the AU Small Finance Bank introduces the AU Swadesh Current Account. This account provides flexibility in terms of balance maintenance and monthly transactions, eliminating the mandatory minimum balance requirement. It also offers a monthly cashback on debit card spending and digital transactions. The account features a cash deposit limit linked to the previous month’s Average Monthly Balance (AMB), along with 150 free cheque leaves per month and various free banking services.
Uttam Tibrewal, Executive Director’s Perspective:
Uttam Tibrewal, Executive Director of AU Small Finance Bank, expressed delight in introducing these accounts, emphasizing their unique design to cater to the specific needs of Swadesh customers. The accounts showcase AU SFB’s commitment to fostering financial and digital inclusion, offering accessible banking solutions in rural and semi-urban areas.
Strategic Establishment of Swadesh Banking Vertical:
In September 2023, AU SFB strategically established the Swadesh Banking vertical to leverage its legacy of financial inclusion and extensive knowledge of rural and semi-urban markets. The consolidation of rural branches, banking outlets, correspondents, and units under a unified umbrella aims to enhance overall benefits for the bank’s customers.
Mr. Tibrewal shared, “Our primary goal was to empower banking customers in rural and semi-urban areas of India. These specialized accounts provide enough flexibility to customers, eliminating stringent balance conditions and encouraging active participation in the banking ecosystem.”
AU Small Finance Bank’s latest initiative reflects its commitment to bridging financial gaps and empowering customers in India’s rural heartland.
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AU Small Finance Bank’s New Green Fixed Deposit Supports Eco-Friendly Projects
