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Yes Bank Offers Up To 7.25% Interest On FD Post Latest Revision: Check New Rates Here

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On its various fixed deposit (FD) schemes such as regular fixed deposit, tax-saving fixed deposit, and senior citizen deposit, the leading Indian private sector lender Youth Enterprise Scheme (Yes) Bank has recently modified interest rates on fixed deposits of less than Rs 2 Cr and the new card rates are in force from 5 August 2021. Yes Bank allows fixed deposits for a period ranging from 7 days to 10 years with a minimum initial account opening of Rs 10,000. For a minimum tenure of 6 months 1 day (actual number of days in the month), the bank also offers a reinvestment option to both regular and senior citizens. For customers who want to seek tax benefits under section 80c of the Income Tax Act, the private lender also allows Tax Saver Deposits which come with a lock-in maturity period of 5 years, and the applicable interest rates are the same as regular deposits. To know about the revised interest rates on fixed deposits of the bank, please keep on reading.

Yes Bank Regular Fixed Deposit
 

Yes Bank Regular Fixed Deposit

Following the most recent modification, the private lender now provides a 3.25 percent interest rate on deposits maturing in 7 to 14 days, 3.5 percent on deposits maturing in 15 to 45 days, and 4% on deposits maturing in 46 to 90 days. On term deposits maturing in 3 months to less than 6 months, Yes Bank offers 4.5 percent, and on deposits maturing in 6 months to less than 9 months, the bank now offers 5%. Yes Bank offers a 5.25 percent interest rate on FDs with maturity duration of 9 months to less than one year. Term deposits with a maturity of one year to less than two years will generate a 6% interest rate. Deposits maturing in 3 years to 10 years will offer 6.50 percent interest to the general public, while FDs maturing in 2 years to less than 3 years would offer 6.25 percent.

TenorRegular
Interest RatesAnnualised Yield
7 to 14 days3.25%3.25%
15 to 45 days3.50%3.50%
46 to 90 days4.00%4.00%
3 months to less than 6 months4.50%4.50%
6 months to less than 9 months5.00%5.03%
9 months to less than 1 Year5.25%5.32%
1 year to less than 18 Months5.75%5.88%
18 months to less than 3 years6.00%6.14%
3 years to less than 5 years6.25%6.40%
5 years to less than equal to 10 years6.50%6.66%
Source: Yes Bank, Rates for less than 2 Crore w.e.f 5th August 2021

Yes Bank Fixed Deposit Rates For Senior Citizens

Yes Bank Fixed Deposit Rates For Senior Citizens

On their deposits of less than Rs 2 Cr, senior citizens will get an additional card rate of 0.50% respectively across a maturity period of 7 days to less than 3 years. For deposits maturing in 3 years to less than 10 years, the bank is offering an additional rate of 0.75% to senior citizens. Post the most recent revision, the private lender is now offering the following interest rates on term deposits to senior citizens.

TenorSenior Citizen
Interest RatesAnnualised Yield
7 to 14 days3.75%3.75%
15 to 45 days4.00%4.00%
46 to 90 days4.50%4.50%
3 months to less than 6 months5.00%5.00%
6 months to less than 9 months5.50%5.54%
9 months to less than 1 Year5.75%5.83%
1 year to less than 18 Months6.25%6.40%
18 months to less than 3 years6.50%6.66%
3 years to less than 5 years7.00%7.19%
5 years to less than equal to 10 years7.25%7.45%
Source: Yes Bank, Rates for less than 2 Crore w.e.f 5th August 2021

Penalty Structure On Fixed Deposits of Yes Bank

Penalty Structure On Fixed Deposits of Yes Bank

On all new and renewed FDs made on/ after 5th July 2019 for an amount of less than Rs 5 Crs, a premature penalty will be applied to all categories of customers, including individuals, non-individuals, senior citizens, and others. According to the bank, below-listed premature FD withdrawal penalty interest shall be imposed for partial and full withdrawals, including a sweep in if any.

Tenure of Fixed Deposit (Completed)Penalty
Less than equal to 181 daysNil
182 days and above0.50%
Source: Bank Website

 

Story first published: Thursday, August 19, 2021, 10:04 [IST]
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