The bank is offering an additional interest rate to senior citizens. Minimum deposit of Rs 10,000 can be made in Yes Bank
Yes Bank, one of the leading private sector banks, has made changes in the interest rates on fixed deposits (FD). A fixed deposit account can be opened in Yes Bank with a minimum deposit of Rs 10,000 and tenures ranging from 7 days to 10 years. The new rates have come into effect from August 5.
The bank is offering an interest rate of 3.25 percent on fixed deposits of 7 to 14 days, 3.50 percent for 15 to 45 days, 4 percent for 46 to 90 days.
Interest of 4.50 per cent is being offered on term deposits from 3 months to less than 6 months and 5 per cent on term deposits from 6 months to less than 9 months. FDs with tenures ranging from 9 months to less than one year have an interest rate of 5.25 per cent and for tenures less than 1 year to 18 months, the interest rate is 5.75 per cent.
The interest rate is 6 per cent for term deposits of 18 months to less than 3 years and 6.25 per cent for tenures of 3 years to less than 5 years.
For long-term deposits of less than 5 years to less than 10 years, the interest rate will be 6.50 per cent.
Senior citizens will continue to get additional interest. For senior citizens, the interest rates range from 3.75 per cent to 7.25 per cent for tenures ranging from 7 days to 10 years.
Penalty for withdrawing fixed deposits before maturity
If a fixed deposit is withdrawn or closed before maturity, it may attract penalties. It will not take place on 181 days or less. For 182 days and above, a penalty of 0.50 percent will have to be paid.
