This Private Bank Offers 7.25% Rate On Fixed Deposits To Senior Citizens Post Second Hike In A Month

Amid rising interest rate in the economy, senior citizens can now be at ease as they can still get a better return on their deposits. As the markets are highly volatile, even those nearing their financial goals and in the similar age bracket can consider moving their corpus to safer instruments as the markets are highly uncertain.

This Private Bank Offers 7.25% Rate On Fixed Deposits To Senior Citizens Post Second Hike In A Month

So, likewise, if you are to renew your FD deposit you can consider booking FD with the lender, here are the latest rates:

Senior citizen FD rates at Yes Bank

Tenure	Rate (Revised rate w.e.f. June 18, 2022
7-14 days	3.75%
15-45 days	4.00%
46-90 days	4.50%
3 months to less than 6 months	5.00%
6 months to less than 9 months	5.25%
9 months to less than 1 year	5.50%
1 year to less than 18 months	6.50%
18 months to less than 3 years	7.00%
3 years to less than or equal to 10 years	7.25%

So, a senior citizen booking a FD for 3 years to less than 10 years tenure can easily earn 7.25% interest rate per annum. Note earlier for the same bracked, the rate with effect from June 6, 2022 was at 7%. But the bank has again taken to hike the rate mirroring the broader rate hike by the RBI in repo rates by another 0.5%.

Further the interest being compounded quarterly, the annualised yield for senior citizen maintaining FD for 3 years or more will come to be 7.45%.

Other important conditions: Minimum FD amount to place to a deposit with the bank is Rs. 10000. Also, it comes with easy liquidity i.e. Customers can opt for Sweep-in facility which offers liquidity of monies in their Savings/ Current accounts (on Fixed Deposit with value less than 1 Crore).

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