State bank of India
(SBI) has opened a branch targeted at the young adult segment of
the market. SBI said that it wants to improve its image among young
customers, to counter any perception that its focus is on older
segments of the market.

The Youth Branch, based
in Hyderabad, will play the latest pop music, employ younger staff
and include a coffee shop serving snacks and soft
drinks.

The bank said it plans
to outsource the catering, music, book and video elements of the
store.

It will offer extended
opening hours, but the bank’s products will mostly remain
unchanged.

A new product, however,
will be a special savings account, Yuva, for the bank’s young
clientele. It will offer incentives and attractive interest rates,
a spokesperson for the bank said.

SBI said that it expects
target customers to be under 35 years of age.

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The branch will probably
be based in Jubilee Hills or Gachibowli, two fast developing areas
where large IT companies and multinational firms are
based.

The young adult branch
pilot follows a successful launch of SBI setting up outlets
targeted at the high net worth sector of the market.