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Fincare Small Finance Bank to merge with AU Small Finance Bank
- Thread starter Strange
- Start date
doraemon
TF Legend
Wait for tomorrow
It's gonna be a steady and slow process
RAMESH BABU N
TF Legend
Why in a desparate hurry ?
Integration takes about 2 to 4 months as these are smaller banks.
mayankpatel
TF Buzz
I am hoping that fin care app and networking still keeps working as usual and they just change the logo/name. It would be nice to know what happened when other banks got merged earlier.
Just like other PSU banks, I was expecting the details to be shared much in advance.
At least they should let us know until when the old IFSC code will work.
I doubt, slowly they will phase away the Fincare app as there is no point in maintaining 2 apps. They have a limited budget for IT.
This is the first time 2 small finance banks are getting merged so not much is known however if you look at Citi-Axis merger, not sure when all Citi customers will be properly onboarded.
Both AU and Fincare have "Digital Savings Account" so ideally both should merge but this should take some time. Not sure why both banks love "0_101", both have some products with this name.
mayankpatel
TF Buzz
I received it as well. Looks like app and netbanking will continue with reduced interest on saving and FD.
gabey14
TF Buzz
Yea maybe in the long run they will merge both the banks anyways AU bank has great products and services along with a prompt customer service as per my experience. Better than some of the bigger banks so hoping they grow bigger and keep on with this excellent service.
doraemon
TF Legend
I have one doubt
My mother has one ekyc fincare account
As tomorrow it will be au bank account
So after a while say 2-3 months
Can my mother walking to au branch for kyc?
She has 0 balance 101 account
Absolutely yes.
All the policies of AU Bank will be applicable for Fincare customers. Since AU has no home branch concept, you should be free to walk into any AU branch.
doraemon
TF Legend
Will she gets au digital savings account?
Point is she is not comfortable in vkyc
Sahilhenzy
TF Legend
Yes my mother is also not comfortable in vkyc. These kallu's ask so much details from parents which they don't know.
No idea.
These banks haven't shared anything apart from the fact that both are getting merged.
I called customer care to enquire if IFSC code will get changed immediately but even they aren't aware.
doraemon
TF Legend
Offer renew hone do bro ab pehle
Btw open Bob bro variant of student
Or Bob lite with 3k
mayankpatel
TF Buzz
BTW, Last day to book FD and lock higher interest rates for next few years.
doraemon
TF Legend
Merger effect
At AU Small Finance Bank, we always strive to provide you with the best banking experience and opportunities to grow your savings.
We would like to inform you that interest rates on AU Savings Account for balances less than ₹1 Lakh has been revised from 3.50% to 3%
My question can we keep our extra money in rbl bank?
Opened digitally as they have highest rate now
At AU Small Finance Bank, we always strive to provide you with the best banking experience and opportunities to grow your savings.
We would like to inform you that interest rates on AU Savings Account for balances less than ₹1 Lakh has been revised from 3.50% to 3%
My question can we keep our extra money in rbl bank?
Opened digitally as they have highest rate now
doraemon
TF Legend
Yep they reduced savings rate as well.
Worst year till now
Anil_Singh
TF Legend
I opened AU Digital Bank Account 2 days ago for sole purpose of savings. Will have to stick to RBL only as of now.
doraemon
TF Legend
Although there services are top notch
But now as there intrest rate are at par with other players
I also don't see any benefit now apart from rupay plat offer
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