AU Small Finance Bank Institution Savings Account vs State Bank of India (SBI) Savings Account

Interest Rate

Up to 7% p.a
2.70% p.a.

Minimum Balance

NIL
NIL or Metro & Urban: Rs. 3000, Semi-Urban: Rs. 2000, Rural: Rs. 1000

Monthly Average balance

N/A
NIL

Features

* Monthly interest payouts

* Relationship Manager facility

* Avail Customized & tailor-made banking solutions

* Receive additional benefits such as CSR activities and advisory services

* Avail digital banking facilities that also offers facilities like bulk payments 

* Free cash deposit and withdrawal

* Attractive Fixed Deposit rates and enhanced liquidity by using the bank's Overdraft facilities

* Use AU 0101 App or AU 0101 NetBanking to carry out range of tasks

* Avail Multiple investment solutions

Internet banking/ mobile banking facility

SMS Alerts and e-statement facility

YONO App facility

State App Anywhere

SBI Quick Missed Call Facility

ATM facility

Documents Required

* Filled application form
* Copy of Trust deed/by-laws
* Certificate of Registration in case of Registered Trust/Society Board Resolution
* Income Tax exemption certificate from the Income Tax department
* Valid OVD of the applicant authorized to open and operate the account

 

* Application form along with Photographs

(a) Proof of identity (any of the following with authenticated photographs thereon):

(i) Passport

(ii) Voter ID card

(iii) PAN Card

(iv) Govt./Defence ID card

(v) ID cards of reputed employers

(vi) Driving Licence

(b) Proof of current address (any of the following)

(i) Credit Card Statement

(ii) Salary slip

(iii) Income/Wealth Tax Assessment Order

(iv) Electricity Bill

(v) Telephone Bill

(vi) Bank account statement

(vii) Letter from reputed employer

(viii) Letter from any recognized public authority

(ix) Ration Card


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