PSB Yuva Connect Savings Account is a specially designed savings account for India’s youth. Whether pursuing higher education, building a career, starting a business, or embracing a digitally connected lifestyle, young customers today seek banking solutions that are convenient, innovative and aligned with their evolving needs. PSB Yuva Connect brings together seamless banking services, digital convenience and a range of value-added benefits to support customers at every stage of their financial journey. More than just a savings account, it aims to foster responsible financial habits and build a strong, lasting relationship with the next generation.
Parameter
Features
Eligibility
Resident individuals in the age group of 16 to 29 years.
Minimum Balance Requirement
No Minimum Balance Required in this Product.
Initial Deposit
No Initial Deposit is required to open this Saving Account.
Debit Card
RuPay Yuva Connect Platinum Debit Card;
Issuance Charge: NIL
Annual Maintenance Charge: Nil until the customer attains 29 years of age.
Digital and Transaction Services
Mobile banking and Internet banking are allowed for customers aged 18 years and above.
NEFT, RTGS, IMPS, UPI and DD are free of cost under this scheme through online and branch channels.
Cheque Book
Free of charge: 25 leaves per annum.
SMS Alerts
Free.
Concession on Education Loan
Customers maintaining a Savings Account under the PSB Yuva Connect Savings Scheme (SBYUV) shall be eligible for a concession of 25 basis points (0.25%) in the applicable rate of interest on loans availed under the PSB Yuva Kaushal Education Loan Scheme.
Nil Processing Fees.
Transaction Limits
For age group 16 but less than 18 years
ATM Cash Withdrawal Limit: Rs. 5,000 per day.
POS & E-Com Limit: Rs. 5,000 per day (Interchangeable).
For age group 18 and above
ATM Cash Withdrawal Limit: Rs. 40,000 per day.
POS & E-Com Limit: Rs. 50,000 per day (Interchangeable).
Personal Accident Insurance (Debit Card Linked) Subject to NPCI Card Policy
Rs. 2,00,000/-
Account Opening Channels
Branch
Kiosk
BC Point
Tab banking
Online Account Opening through VCIP for customers aged 18 years and above.
Instant Account Opening on Digital Channels for customers aged 18 years and above only.
Virtual Debit Card Facility
Available through PSB UnIC Application.
Youth-Oriented Offers through PSB RuPay Yuva Connect Platinum Card
* Subject to NPCI Card Policy
Electronics
Croma: Flat INR 500 off (Quarterly).
Travel
Uber: Rs. 100 Redeemable Coupon (Quarterly).
Food
Swiggy One – 3 Month Membership.
Lifestyle
Myntra: Rs. 250 off (Quarterly).
Big Basket: Rs. 250 off on groceries (Quarterly).
Health & Fitness
Cult.fit: 3 Month Cure.fit Live Subscription (Annual).
Netmeds: 20% off on medicines, minimum order value INR 999 (Quarterly).
Learning & Education
Edureka: Flat 25% off on Agentic AI Course (Quarterly).
Entertainment
Prime Video: 12 Month Subscription (Annual).
BookMyShow: Buy One Get One (BOGO) worth Rs. 250 (Quarterly).
Additional Features
Save as you Spend
Guidelines for “Save As You Spend”
Details
Features
Scheme Details
The Bank has introduced a “Save as You Spend” feature in PSB Yuva Connect Saving Account on consent basis to encourage customers to save small amounts whenever they make a payment through UPI.
Under this feature:
Only UPI transactions made to merchants will be considered.
Transactions made to all categories of merchants will be eligible.
For every eligible transaction, the transaction amount will be considered against the next higher ₹100.
The difference will be automatically transferred to the customer's linked Recurring Deposit (RD) account.
The minimum amount that can be transferred to the RD from a single transaction will be ₹1.
The maximum amount that can be transferred to the RD from a single transaction will be ₹40.
Accordingly, ₹60 will act as the cut-off amount within each ₹100 slab.
UPI Merchant
Transaction
Next ₹100
Amount transferred
to RD
₹190
₹200
₹10
₹260
₹300
₹40
₹275
₹300
₹25
₹360
₹400
₹40
₹399
₹400
₹1
Illustration:
If a customer makes a UPI merchant payment of ₹190, the next ₹100 amount is ₹200. The difference of ₹10 will therefore be automatically transferred to the linked RD account.
Similarly, if the customer makes a transaction of ₹260, the difference up to ₹300 is ₹40. Hence, ₹40 will be transferred to the RD.
If the transaction amount is ₹399, the difference up to ₹400 is ₹1. Hence, ₹1 will be transferred to the RD.
The minimum and maximum limits of ₹1 and ₹40 respectively will apply separately to each eligible transaction.
Who can Open the Account.
The “Save as You Spend” feature shall be an optional facility linked to the PSB Yuva Connect Savings Account and shall be available to customers between 16 and 29 years of age, both inclusive. Customers may opt for the facility by providing explicit consent during the on boarding process under the PSB Yuva Connect Savings Scheme.
The link will open only through bank's intranet and it will not open through internet
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“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsind.bank.in/ and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsind.bank.in/ and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
PSB Diwali English
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