Mumbai, May 2022: AU Small Finance Bank, the largest Small Finance Bank and one of the fastest-growing retail Banks in India, has launched two new products under its affluent banking programme AU Royale – ‘AU Royale Salary’ and ‘AU Royale Business’ Current Account.
The affluent segment in India is consistently growing. As the Hurun India Wealth Report 2021 estimates, Indian millionaire (USD) households are set to rise by 30% over the next five years. As this segment is experiencing a steady growth, its expectations from banking are ever evolving. Considering this, AU Bank had launched its Royale programme designed specifically to cater to the everyday banking requirements of this segment. While the Bank was already offering customized premium products for HNIs and NRIs, now it has launched niche products, ‘AU Royale Salary’ and ‘AU Royale Business’, specially curated for the salaried and business class respectively.
Commenting on the launch Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank said, “Over the years, we have seen growing interest from the affluent segment towards our personalized services and higher returns. While we have been a preferred choice of Bank for the self-employed business class, the number of salaried class customers has gradually started growing as we increase our footprint in Metros & Tier-I cities. As we have strategically expanded our range of services across the banking spectrum, with ‘AU Royale Salary’ and ‘AU Royale Business’, we are expanding our class leading solutions to different segments of the affluent customers. In line with our commitment to bring Badlaav in Banking, we shall continue to enhance our proposition and deliver unparalleled value to our customers.”
The AU Royale Business Current Account offers family banking which allows grouping of business and family accounts. While the Relationship Managers provides end-to-end personalized banking, customers can avail a host of benefits offered by a feature Rich Royale Business Signature Debit Card. Other benefits include best in class Merchant Solutions (QR, PoS, Payment gateway); preferential pricing on banking products; choice of Account Number and domestic airport lounge access.
The AU Royale Salary Savings account offers family banking for up to five family members and exciting cashback of upto 1% on Signature Debit Card spends. While a dedicated relationship manager provides support all the banking needs, customers can avail a host of other benefits like complimentary movie tickets on BookMyShow; low currency mark-up on international transactions and 75% discount on Lockers.