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.
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 |
Available | |
Type of Debit Card | MasterCard Classic or Visa International Shop 'n Save |
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 |
|
2 | Rs.50 lakh or more but less than Rs.10 crore |
|
3 | Rs.10 crore or more but less than Rs.25 crore |
|
4 | Rs.25 crore or above |
|
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 |
Some of the main features of the Yuvamitra Savings Account are:
Daily Cash Withdrawal Limit |
|
Daily POS Transaction Limit | Rs.50,000 |
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 |
When applying for Yuvamitra Savings Account at Federal Bank, any one of the following documents are required as identity proof and address proof:
Mandatory Documents:
Students applying for the Federal Bank Yuvamitra Savings Account will have to submit the following documents, compulsorily:
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.
All students who have passed matriculation are eligible. Diploma and professional course students can also apply.
No, there is no average monthly balance (AMB) requirement for this 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.
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.).
Yes, you can download and submit the application form at the nearest branch or visit a branch directly to apply offline.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.