We understand the needs of the youth and we can assist you to fulfill your dreams. Whatever your college savings goals may be – whether it’s enjoying holidays with friends, buying a new bike or studying abroad, Yuvamitra is the right choice for you.
Take advantage of Yuvamitra, the youth savings account from Federal Bank, and you’ll discover online access and other useful benefits that make managing your money easy. Invest in your future by opening a Yuvamitra account with us and you’ll not only have a solid foundation for the future, but also be well on your way to achieving your financial goals.
Who Can Open ?
Yuvamitra accounts can be opened by students beyond matriculation level, including professional degree/diploma courses or other youth either employed or doing business, in the age group of 15 to 35.
What is the balance requirement for Yuvamitra accounts?
No minimum balance for students – for others though zero balance accounts can be opened, quarterly average balance of Rs 1,000/- to be maintained within 6 months of opening the account
Check out some salient features that Yuvamitra account offers to you:
- Free 10 Cheque leaves per year
- One monthly statement free if not opted for the passbook
- Free Debit cards - Visa International Shop n Save Debit Card / MasterCard-Classic
- Free daily Cash withdrawals up to Rs 20,000/- (using Shop n save) & Rs. 30,000/- (using MasterCard Classic)
- Free daily POS transactions up to Rs 30,000/-
- Free Internet Banking
- Free Mobile banking
- Free E-mail alerts
Other Benefits
Temporary Overdraft Facility for students of professional courses up to a maximum of Rs 5,000/-, at the sole discretion of the bank
Free assistance in sending applications to universities abroad, Bank will forward the application forms free of cost
Scholarships for selected student account holders for studies in top 50 Universities abroad for M.B.A / M.S
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