State Bank of IndiaSBI Yuva Savings Bank Account

SBI offers a saving account for youth with a bunch of relevant services like net banking, mobile banking, IMPS, variety of debit cards, etc. the account can be opened with zero balance and is paid with 4% interest calculated on daily basis. The age eligibility for 'SBI Yuva' saving account is 18 to 30 years and it also has a facility of nomination. Along with basic facilities, bank offers auto sweep facility to the customers and standing instructions, which can be ordered via internet banking.

The mobile banking attached with the account renders a variety of services like fund transfer, cheque book request, utility bills, IMPS, etc ,that take care of need of the hour in youth. The bank offers free collection of one cheque per month with a ceiling limit of Rs 20,000 for this account. Also, one DD/ bankers' cheque is issued free of cost (per calendar year) favoring educational institution or job application.

Fees and charges of SBI Yuva savings account:

With a few free basic services like issuance of passbook, balance enquiry, fund transfer and operating an inoperative account, SBI Yuva account has some chargeable services too:

  • Account closure charges of Rs 337 for upto 6 months old account, Rs 225 for 6 to 12 months account. However account closure is not chargeable if the account is closed after 1 year of operation or within 14 days of opening.
  • Rs 112 (inclusive of postage) for transfer of account from one branch to another.
  • Duplicate passbook/ pass sheet is charged with Rs 112.
Multi city cheque book charges:
  • For AQB (Average Quarterly Balance) less than Rs 25000- first 20 leaves are free and subsequent every leaf costs Rs 3.
  • For AQB more than Rs 25000- first 50 leaves free and subsequent every leaf costs Rs 2.
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