BOP Youth Education Account

This is a current chequing account product especially designed for young students studying in schools, colleges and universities with additional feature of Free of Cost Education Insurance Coverage on maintaining Minimum Monthly Average Balance of Rs.100,000/-.

Salient Features
  • The product is especially designed for students attending any kind of educational institution.
  • This is a Non profit bearing account.
  • Students upto age of 30 years will be allowed to open the account in this scheme. If the age of student is below 18 years, minor/guardian account will be opened and new/normal YEA account will be opened upon submission of CNIC of the student, as per existing procedure.
  • Account can only be opened in Minor/Guardian and Student categories. Joint Accounts are not permitted.
  • There is no minimum balance limit hence account maintaining charges will not be applicable.
  • Free of cost ATM/Master Debit Card (issuance & subsequent renewals).
  • Issuance of free of charges Payment Orders/ Demand Drafts favouring any Educational Institution.
  • The Student qualifying for education cover must be an account holder for atleast One Calendar Month.
  • Student will be provided Insurance cover as long as he/she is less than 30 years of age or his/her parent/guardian is in the age band of 18-60 years. Frequently Asked Questions
  • Bank will provide free of cost education insurance cover to student amounting Rs.20,000/- per month for 24 months in case of Natural Death and Permanent Total Disability of Parent/Guardian (one person only), whose name has been reported to the bank at the time of account opening.
  • In case of Accidental Death, the insurance cover will be doubled to Rs.40,000/- per month for 24 months. Terms, conditions & exclusions of insurance company will apply.
  • Free e-banking facility to view account balance and statement of account is available.
  • SMS Alert facility is available subject to payment of annual charges as per bank’s schedule of charges.
  • Free of Cost Utility Bills Deposit Facility through BOP ATM Network, BOP Phone Banking and self service IVR system is available.
This page was last updated on: August 6, 2015 11:03:49 AM