AU Small Finance Bank introduces ‘AU Eternity’: A Premium Banking Program for India’s rising wealth creators, in collaboration with Mastercard

 by Priya Jadhav

●       Elite banking with tailored lifestyle and wealth management solutions for the affluent segment

●       Offers luxury services with personalized and unparalleled privileges

●       Introducing industry-first Airport Dining Experience: Savor your favourite delight on the go

●       Bespoke privileges in travel, dining, entertainment, and beyond

Mumbai, December 16, 2024: AU Small Finance Bank (AU SFB), India’s largest small finance bank, today announces the launch of its latest premium banking program – AU Eternity. Crafted specifically for the evolving financial needs of India’s growing affluent segment, AU Eternity offers a unique blend of exclusive privileges and customized solutions in collaboration with Mastercard.

Leveraging its customer knowledge, AU SFB undertook an in-depth study to identify the distinct financial and lifestyle preferences of high-income earners. This study has led to the creation of AU Eternity – an elite banking program that resonates with the rising affluent segment in India. Building on this foundation, AU Eternity leverages Mastercard’s global expertise in premium services to deliver enhanced lifestyle experiences and personalized payment solutions for discerning customers.

AU Eternity is designed to complement AU SFB’s existing premium portfolio, which include ‘AU ivy’ and ‘AU Royale’. AU Eternity extends beyond banking, offering an exclusive lifestyle privilege. Members enjoy a range of curated benefits, including Marriott Experience Certificates, movie tickets on BookMyShow, golf lessons, Eazy Diner membership and Amazon Prime membership.

Furthermore, AU Eternity brings enhanced banking convenience through dedicated relationship managers, providing personalized financial planning, tailored wealth and investment solutions, and exceptional support empowering the elite customers to achieve their goals.

Through this partnership with Mastercard, AU Eternity Debit Card holders can enjoy an array of exclusive privileges, including access to international airport lounges, curated fine dining experiences, and bespoke travel benefits. Furthermore, the AU Eternity program has introduced an industry-first airport dining experience, allowing travelers to select their favorite cuisine and beverages from popular airport outlets.

With AU Eternity, customers can group family and business accounts, enjoy a host of free banking services, get reduced cross currency markup and lifestyle benefits with complimentary AU Eternity debit card powered by Mastercard, access to personalized wealth and investment solutions from dedicated specialist teams.

Speaking on the launch, Uttam Tibrewal, Executive Director & Deputy CEO, AU Small Finance Bank, said, “India's wealth management landscape is rapidly evolving, with the affluent segment projected to reach 1.65 million by 2027, growing at a 16% CAGR. We're witnessing a shift towards value-conscious purchases and rising demand for experiential luxury, particularly in travel and hospitality. Building on our existing premium banking programs, AU ivy and AU Royale, we are proud to introduce AU Eternity, a statement of timeless luxury. AU SFB have crafted an offering that meets the evolving needs of emerging affluent segment seeking financial growth and enriched lifestyles. With holistic benefits spanning wealth management, fine dining, entertainment, and travel, AU Eternity provides a comprehensive banking solution for the modern affluent segment.”

“The growing cohort of India’s affluent consumers is increasingly seeking high-value personalized financial solutions that match with their aspirations and ambitions. Their focus isn’t just limited to wealth management or expansion but also covers experiences — from exclusive privileges, exquisite cuisine to adventure travel and a lot more. Mastercard is excited to collaborate with AU Small Finance Bank for their premium banking program as it perfectly combines travel, lifestyle, and financial benefits in one comprehensive offering for the country’s dynamic affluent segment,” said Gautam Aggarwal, Division President, South Asia at Mastercard.

About AU Small Finance Bank: AU Small Finance Bank Limited (AU SFB) is a scheduled commercial bank and has established itself as the largest SFB in India since starting its banking journey in April 2017. Established in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU SFB boasts a 29 years-legacy with deep understanding of the rural and semi-urban markets and customer segments. The Bank operates a sustainable business model that facilitates credit to the unserved and underserved retail and MSME customer segments while providing complete banking solutions to its deposit and branch banking customers. As a tech-led Bank, AU has a strong digital presence with innovative products and services like 24X7 video banking, credit cards, personal loans, UPI QRs, payments, merchant lending, WhatsApp Banking, Chatbots etc. and its digital bank application AU0101 remains among the higher rated banking apps in India.

The Bank operates from 2,408 banking touchpoints across 21 States & 4 Union Territories serving 1.09 Cr+ customers with an employee base of 47,900+ employees. As on 30th September’24, Bank has a Shareholders Funds of ₹16,041 Cr, Deposit base of ₹1,09,693 Cr, Total Loan Portfolio of ₹1,05,031 Cr and a Balance sheet size of ₹1.38 Lac Cr+. AU SFB enjoys the trust of marquee investors and is listed at both NSE and BSE. It has consistently maintained high external credit Rating and is presently rated ‘AA/Stable’ by CRISIL Ratings, ICRA Ltd., CARE Ratings and India Ratings, while the Bank’s FD is rated ‘AA+/Stable’ from CRISIL Ratings.