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CUB Young India Savings Account

The City Union Bank Young India Savings Account aims at providing students with easy access to banking facilities. Students can avoid standing in long lines to purchase books or pay their fees. These transactions can be carried out online through Internet Banking. Students also receive a free debit card which gives them access to ATMs any time they need. In order to be eligible for this card, an existing account holder or the head of the educational institution must introduce the student.

Bank City Union Bank
Category Savings Account
Initial Deposit Requirements Zero
Minimum Balance Rs.500
Eligibility Any student between 18 years and 25 years
Debit Card Offered International VISA debit card free of charge
Interest Rate 3.50% per annum

Services Offered with CUB Young India Savings Account

The following services are offered with a City Union Bank Young India Savings Account.

Passbook Passbook is issued free of cost
Cheque Book Not applicable
Cash Withdrawal Free ATM and bank withdrawals
Cash Remittance Unlimited
Internet Banking Free facility

Features of CUB Young India Savings Account:

Some of the important features of City Union Bank Savings Account have been listed below.

KYC Compliance Required. An account holder or head of the educational institution must introduce the student. Age proof and student ID proof is required.
Debit Card Students will be issued an International Debit card which can be used to purchase books, flight tickets and railway tickets online. There are no maintenance charges or annual fees.
NEFT/RTGS Free funds transfer through Internet Banking
Bill Payments Pay bills, college fees, hostel fees online
Outstation cheque Free collection
Monthly Statement Issued free of charge through e-mail
Mobile Banking Available

Fees and Charges for City Union Bank Young India Savings Account

For the Young India Savings Account, the important fees and charges applicable are listed below.

Service / Product Fees & Charges
Neft/RTGS inward Nil
Minimum Balance Shortfall Penalty Nil
Outstation cheque Nil
Transaction charges Nil
Account Maintenance Nil
Debit card replacement Rs.250 for customer requests. Bank induced replacement is free.
Account closure Closure within 12 months - Rs. 275 Closure after 12 months - Rs.125

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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