Federal Bank Yuvamitra Savings Account

The Yuvamitra Savings Account by Federal Bank is an account exclusively designed to meet the needs of students. It includes almost all modern banking features such as mobile and internet banking.

Updated On - 05 Sep 2025
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Bank

Federal Bank

Account Name

Yuvamitra Savings Account

Category

Savings Account

Eligibility

All students who have crossed matriculation are eligible. Diploma or Professional degree holders can also apply.

Average Monthly Balance

Nil

Debit Card

Available

Type of Debit Card

MasterCard Classic or Visa International Shop 'n Save

Interest Rates for Federal Bank Yuvamitra Savings Account

The following interest rates are applicable for Yuvamitra Savings Bank Account, with effect from 3 March 2018:

Slab

Balance at the end of day

Interest rates per annum (p.a.)

1

Less than Rs.50 lakh

  1. 3.5% for the entire balance

2

Rs.50 lakh or more but less than Rs.10 crore

  1. 3.5% for balance up to Rs.50 lakh
  2. 4% for the residual balance (over and above Rs.50 lakh)

3

Rs.10 crore or more but less than Rs.25 crore

  1. 3.5% for balance up to Rs.1 lakh
  2. 6.3% for the residual balance (over and above Rs.1 lakh)

4

Rs.25 crore or above

  1. 3.5% for balance up to Rs.1 lakh
  2. 6.51% for the residual balance (over and above Rs.1 lakh)

Services Offered by Yuvamitra Savings Account:

The following services can be availed in this account:

Internet Banking

Available

Mobile Banking

Available

Tele Banking

Available

E-mail Alerts

Available

ATM Services

Available

Cheque Book/Leaves

Available, 20 cheque leaves per year

Features of Yuvamitra Savings Account:

Some of the main features of the Yuvamitra Savings Account are:

Daily Cash Withdrawal Limit

  1. Rs.50,000 - Shop 'n Save
  2. Rs.50,000 - MasterCard Classic

Daily POS Transaction Limit

Rs.50,000

Charges for Services in Yuvamitra Savings Account

Yuvamitra Savings Account holders are charged the following fees:

Service

Charges

Non-maintenance of Average Minimum Balance (Monthly)

Up to 20% - Rs.27

Above 20% to 40% - Rs.54

Above 40% to 60% - Rs.81

Above 60% to 80% - Rs.108

Above 80% to 100% - Rs.135

Up to 20% - Rs.30

Above 20% to 40% - Rs.60

Above 40% to 60% - Rs.90

Above 60% to 80% - Rs.120

Above 80% to 100% - Rs.150

Card Renewal Fee

Free of charge

Card Registration Fee

Free of charge

ATM Transactions at Federal Bank ATM

Free (Both financial and non-financial transactions)

ATM Transactions at other Bank ATMs

Financial transaction - Rs.20/transaction

Non-financial transaction - Rs.10/transaction

Transaction Alerts - SMS

Rs.50 paise per SMS

NEFT Charges

Up to Rs.10,000 - Rs.2.50

Rs.10,001 to Rs.1,00,000 - Rs.5

Rs.1,00,001 to Rs.2,00,000 - Rs.15

Above Rs.2,00,000 - Rs.25

RTGS Charges

Rs.2 lakh to Rs.5 lakh - Rs.25

Above Rs.5 lakh - Rs.50

Cash Remittance at Non-Home Branch (Anywhere Banking Charges)

Rs.50 is charged per transaction or 50 paise per Rs.1000, whichever is higher. First 4 remittances lower than or equal to Rs.10,000, is allowed for free every month. If AMB is maintained at Rs.50,000 in the previous month, AWB charges are waived off.

Account Closure Charges

Between 0 - 6 months - Rs.100

After 6 months up to 12 months - Rural - Rs.50

Senior Citizens - Rs.50 Other - Rs.100

Documents Required for Yuvamitra Savings Account:

When applying for Yuvamitra Savings Account at Federal Bank, any one of the following documents are required as identity proof and address proof:

  1. NREGA's job card, validated by a State Government Officer
  2. Driving License
  3. Aadhar Card
  4. Voter's ID
  5. PAN (Permanent Account Number) 
  6. Passport

Mandatory Documents:

Students applying for the Federal Bank Yuvamitra Savings Account will have to submit the following documents, compulsorily:

  1. Recent passport size photographs of the applicant - 2 copies
  2. A bonafide letter from the institution of study (School/College) with an attested photo or introduction from the institution's head.
  3. Proof/Certificate of Matriculation.

Note: The Yuvamitra Savings account can be opened online as well as offline. You can download the application form, fill it and submit at the nearest Federal Bank branch, along with the required documents.

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

FAQs on Federal Bank Yuvamitra Savings Account

  • Who is eligible for the Yuvamitra Savings Account?

    All students who have passed matriculation are eligible. Diploma and professional course students can also apply.

  • Is there a minimum balance requirement?

    No, there is no average monthly balance (AMB) requirement for this account.

  • What debit card is offered with the account?

    Students receive a MasterCard Classic or Visa International Shop 'n Save debit card with a ₹50,000 daily limit for ATM and POS transactions.

  • What documents are required to open the account?

    You need 2 passport-size photos, a bonafide letter from your school/college, and proof of matriculation along with standard KYC documents (like Aadhaar, PAN, etc.).

  • Can I open this account online?

    Yes, you can download and submit the application form at the nearest branch or visit a branch directly to apply offline.

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