City Union Bank : Junior & Young India Savings Account

Organization : City Union Bank Ltd
Facility :Junior & Young India Savings Account

Home Page :http://www.cityunionbank.com/english/Home.aspx
Juniors India :https://www.cityunionbank.com/
Young India :https://www.cityunionbank.com/

Young India Savings Account

Name of the product : CUB Young India
Date of launching : 11.12.2009

Related : City Union Bank Online Bill Payment : www.statusin.in/8046.html

Eligibility : Students of age 18 years and up to 25 years in their individual name
Introduction : By an accountholder or by the head of the educational institute where the student is studying
Age proof : The student must furnish either birth certificate or SSLC mark sheet
Identity proof : The student must furnish the identity card or a bonafide
certificate from the educational institution Opening of account : With zero balance
Minimum balance : Rs.500/-

Facilities that are offered at free of cost :
1. Free- Issue of International VISA Debit Card. Students can use VISA debit card to make online purchase of books, railway/flight tickets without standing in “Queue”.
2. Free – withdrawal through 11,00,000+ ATMs around the globe
3. Free – Collection of outstation Cheque
4. Free – Mobile banking facility
5. Free – Student can pay college fees, hostel fees etc., online without waiting in the “Queue” at any time 24X7
6. Free – Bill Payment facility through Internet Banking
7. Free – Annual card cost/ maintenance charges
8. Free – Funds Transfer facility through Net Banking to Any Branch of CUB. and also to other Banks through RTGS/NEFT
9. Free – monthly statement of account through e-mail

Juniors India :
Launching of new saving bank scheme for children – Juniors India
We are glad to inform that we have formulated a new savings bank scheme viz. “Juniors India” , for the benefits of the children. We are launching the new scheme on 02.08.2010. We give below the details of the scheme.

Name of the product :Juniors India SB a/c
Nature of account :A Savings Bank Account for children
Introduction :By an accountholder
Age proof :Birth certificate

Eligibility :
Children from the age 1 day to less than 18 years ( i.e upto 17 years) to be operated by father/ mother/ guardian/ court appointed guardian

Minimum amount to be maintained :
a. Rs.250/- (monthly average.) for cheque book a/c and
b. Rs.100 /- (monthly average.) for non-cheque book a/c

Maximum amount : No limit
Rate of interest : As applicable for ordinary Savings bank accounts. Presently 3.50% p.a
Mode of calculation and payment of interest : Similarly for ordinary domestic savings bank accounts

Other facilities offered :
For the age group of one day to 12 years :
1. One toy hundial
2. Remittance of school/ college fees at par
3. Transfer of funds from parents/ guardians a/c to the children’s a/c allowed at par
4. Funds transfer (RTGS/NEFT) at free of cost
5. Nomination facility available
6. Anywhere Banking

For the age group of above 12 years :
1. Free ATM/ Debit card for minors subject to consent by parents/ guardian to issue of ATM/Debit card
2. Internet banking subject to consent by parents/ guardians for using internet facilities
3. Remittance of school/ college fees at par
4. Transfer of funds from parents/ guardians a/c to the children’s a/c allowed at par
5. Funds transfer (RTGS/NEFT) at free of cost
6. Nomination facility available
7. Anywhere Banking

After the completion of age of 17 years, the accountholders will continue their accounts with CUB under Young India and upon completion of 25 years of age these accounts will be converted into normal SB a/c.