SIB Youth Plus Savings Account

Empowering Young Dreams, One Step at a Time

The SIB Youth Plus account is custom-made for young and dynamic individuals, providing a perfect blend of convenience, modern banking services, and investment guidance. Designed exclusively for the youth aged 18 to 35 years, this account is your gateway to modern banking, empowering you to achieve financial independence and confidently pursue your goals. Whether it’s digital convenience, investment guidance, or secure transactions, SIB Youth Plus has you covered!

Key Features and Benefits

Exclusively for individuals aged 18 to 35 years.
Unlimited transactions at all bank ATMs.
Exclusive Visa Platinum Debit Card.
Minimum balance requirement of just Rs. 5,000/-.

Features of SIB Youth Plus Savings Account

  • Convenient Digital Services: Explore a seamless digital banking experience with WhatsApp Banking for instant support and Mobile and Internet Banking for quick transactions. 
  • Complimentary Essentials: Get a free VISA Platinum Debit Card, cheque book, and more. 
  • Value-Added Insurance: Avail exclusive insurance schemes for enhanced security. 
  • Instant Transfers: Effortlessly transfer funds via IMPS and UPI facilities. 

You must meet the following eligibility requirements:

  • Indian citizens aged between 18 to 35 years are eligible to open the SIB Youth Plus Savings Account.

You need to provide the following documents to open the SIB Youth Plus Account:

  • Identify Proof: Passport, Voter's ID, Aadhaar Card, or any other government-issued ID.
  • Address Proof: Aadhaar Card, Passport, Utility Bills, etc.
  • PAN Card/Form 60: Mandatory for opening the account.

Open your SIB Youth Plus Savings Account effortlessly in just a few steps.

Offline Mode:

  •     Visit your nearest South Indian Bank branch
  •     Fill out the Account Opening Form
  •     Submit necessary KYC documents

Online Mode:

  •     Visit SIB Video KYC Portal
  •     Verify your identity using PAN & Aadhaar
  •     Complete KYC via video call
  •     Deposit funds to activate your account

Get complete clarity on the charges for managing your SIB Youth Plus Savings Account:

Category Details
Initial Funding Rs. 5,000/-
Average Balance Requirement Rs. 5,000/-
Debit Card Issuance Charges Nil*
Online NEFT Charges Nil

 

*T&C apply

Frequently Asked Questions

To get answers to the frequently asked queries

The SIB Youth Plus account is a savings account tailored to meet the financial and digital needs of young individuals. It is available to customers aged between 18 and 35 years.
 

Account holders are required to maintain a minimum Average Monthly Balance (AMB) of Rs 5,000 in the SIB Youth Plus account.

The account offers a range of free services, including 10 free cheque leaves per calendar year, free outward RTGS/NEFT transactions up to Rs 1,00,000/- per month (with a maximum of 5 NEFT transactions), and access to digital banking services such as WhatsApp Banking, Internet/Mobile Banking, and unlimited online NEFT transactions.

Customers are issued a Visa Platinum EMV NFC International Debit Card. This card is provided free of issuance charges. 

The debit card offers a daily cash withdrawal limit of Rs 1,00,000/- and a daily shopping limit of Rs 3,50,000/-. For Tap and Pay transactions, customers can make payments of up to Rs 5,000/- per transaction, with a maximum of five transactions per day.

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