HT Bureau
Guwahati, May 24: AU Small Finance Bank launched two new products under its affluent banking program 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 steady growth, its expectations from banking are ever-evolving. Considering this, AU Bank had launched its Royale program designed specifically to cater to the everyday banking requirements of this segment. While the Bank was already offering customised 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, Uttam Tibrewal, executive director, AU Small Finance Bank said, “Over the years, we have seen growing interest from the affluent segment towards our personalised 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 into Banking, we shall continue to enhance our proposition and deliver unparalleled value to our customers.”
