Yes Bank has reduced fixed deposit interest rate on a certain tenure for deposits below Rs 2 crore on certain tenures by up to 25 basis points (bps). After the revision, the bank offers interest rates between 3.25% to 7.25% to general citizens. For senior citizens, the bank offers 3.75% to 8%, according to the Yes Bank website. The revised FD rates have been effective from October 4, 2023.For domestic term deposits maturing in the next 7 to 14 days, Yes Bank is now offering a 3.25% interest rate. For domestic term deposits maturing in the next 15 to 45 days, Yes Bank is now offering a 3.70% interest rate. On deposits kept for 46 to 90 days and 91 to 120 days, respectively, Yes Bank pays 4.10% and 4.75% interest.Also read: FD interest rate up to 8.25%: These 6 banks have revised fixed deposit interest rates in October 2023
Deposits maturing in 121 to 180 days will now earn 5% interest, deposits maturing in 181 to 271 days will now earn 6.10% interest. While deposits maturing in 272 to 1 year will earn 6.35% interest. Yes Bank will now pay a 7.25% rate on FDs maturing in one year to less than 18 months (from earlier 7.50), The bank offers highest interest rate of 7.50% now on FDs maturing in 18 months to less than 36 months (from earlier 7.75%)
The deposits with maturities ranging from 36 to 60 months and will earn a 7.25% interest rate.
Deposits with maturities of between 60 and 120 months will fetch an interest rate of 7%.
After the revision, the bank offers interest rate between 3.75% to 8% on tenures ranging from 7 days to 10 years. The highest interest rate of 8% (earlier 8.25%) is offered on 18 month to less than 24 months.According to the Yes Bank website, “Premature penalty will be applicable as per above regime for Senior Citizen customers who booked/renewed FD’s for period 5th July 19 till 15th May 22. Nil premature penalty will be applicable for Senior Citizen FD booked/renewed on and after 16th May 22. Premature FD withdrawal penalty interest will be charged for partial as well as full withdrawal.”Also read: Canara Bank FD interest rates 2023: Earn up to 7.9% on this fixed deposit tenure
Yes Bank savings account interest rate
Yes Bank savings account interest rate vary between 3.50% to 7% depending on the daily balance in the savings account.
