Youth Ethics (YE) Savings

YE Banking is a new concept floated by RMA in 2018, with the aim to bring in to the banking system youth. Only youth below the age of 18 are eligible to hold YE banking accounts.

This concept has been designed to:
a) Inculcate the savings habit and
b) Educate our youth on practical financial knowledge on banking, insurance and others.

Features
A separate passbook will not be issued since YE banking passbook is issued by respective schools.
The account number and bank name will be provided in the passbook after opening the account.
All other operational procedures for the YE Savings Bank Account will be same as a regular savings account, including payment of interest, dormancy, closure, etc.
A child can continue maintaining the YE Savings Bank Account until the age of 18 years after which it should be converted into a normal savings account, and a new pass book issued to him/her.
In cases where withdrawal from such accounts is desired, a withdrawal authority, signed by the respective school’s Principal and Class Teacher should be obtained, based on which the parent/ guardian

of the account holder shall be allowed to withdraw the amount specified in the withdrawal authority letter.

Eligibility
Only students below the age of 18

Requirements
A copy of valid Identification Document
TWO recent passport sized photographs
A dully completed separate CIF Opening Form (for first time on boarding)

Youth Ethics (YE) Savings

Features

Eligibility

Requirements

Stay updated with the latest updates on our website. If you have any questions, don't hesitate to reach out to us at toll-free no. 1424.