Low Minimum Opening Deposit
Specially Designed Debit Card with daily ATM/POS Limit of Rs 2500/- each
Charges waived on DD up to Rs 50,000/- per month for educational purpose.
Rewards point for opening Recurring Deposit along with the NR Young Champ account
Free Internet Banking (View facility only)
Free Mobile alerts
Free E-mail alerts
Free standing instruction facility from the NRE account of parent to children
Who Can Apply
NRI Children up to age of 18 years can apply for this account. In case of minor below 10 years the account shall be opened with parents/guardians as Authorized Signatory. Minors above 10 years may open account in their sole name and operate savings bank accounts independently.
How to open an account?
To open NR Young Champ account, you may please visit your nearest Federal Bank branch.
Perfect account for next generation
NR Young Champ account offers free Internet Banking (View facility only), Mobile Alerts, Email Alerts and FedBook !
Ready for shopping ?
NR Young Champ offers exclusively designed debit cards with daily withdrawal limit of Rs. 2500/- through ATM and Rs 2500/- through POS.
Average Monthly Balance (AQB) of Rs. 1,000/- must be maintained. AMB will be waived if NR Young Champ account is opened along with their parents' account in any of the mentioned Premium Schemes:
- Mahila Mitra
- Fed Power+
- Fed Smart
- Fed NRI Eve
- Fed NRI Privilege
- Fed Select
Save Invest & Earn Program- Reward Points for Opening Recurring Deposit
- Monthly Recurring Deposit of Minimum Rs.1000/- installment , is opened for a minimum period of 1 year
- Debit card should be issued in the NR Young Champ Account.
- All installments are promptly made.
- The maximum reward points per NR Young Champ Account will be 1000 per year.
For Minors above 10 years where account is to be opened in the sole name and operated independently-
- Photograph of the child
- Copy of Passport of the child
- Copy of VISA/PIO/OCI Card of the child
- Address Proof: If the passport contains address of the child then no further address proof is required, if not :
Address proof of the any of the Parents/ Introduction by the Principal/HOD/ Head Master in the letter head of School mentioning the address, DOB along with photograph affixed there in/ ID Card issued by school or educational institution with address, photo and DOB mentioned.
For Minors below 10 years where the account is opened with parents /guardians as Authorized Signatory
- Photograph of the child and parent/guardian
- Copy of Passport of the child and parent/guardian
- Copy of VISA/PIO/OCI Card of the child and parent/guardian
- Address Proof: If the passport contains address of the parent/guardian then no further address proof is required, if not any other valid document supporting the permanent address of the parent/guardian is to be obtained.