Yes Bank has updated its fixed deposit (FD) interest rates for deposits below ₹3 crore, with the new rates effective November 5, 2024. The changes aim to offer attractive returns across a variety of deposit tenures, ranging from 7 days to 120 months. Here’s a breakdown of the revised rates:
Revised Yes Bank FD Rates (Effective November 5, 2024)
For Regular Customers:
- Short-term Deposits:
- 7–14 days: 3.25%
- 15–45 days: 3.70%
- 46–90 days: 4.10%
- 91–120 days: 4.75%
- 121–180 days: 5.00%
- Medium-term Deposits:
- 181–271 days: 6.10%
- 272 days to 1 year: 6.35%
- Longer-term Deposits:
- 1 year: 7.25%
- 1 year 1 day to 18 months: 7.50%
- 18–24 months: 7.75% (highest offered rate)
- 24–36 months: 7.25%
- 36–60 months: 7.25%
- 60 months 1 day to 120 months: 7.00%
For Senior Citizens:
- Senior citizens receive an additional 0.50% on each tenure, with interest rates up to 8.25% for deposits between 18 and 24 months. This brings higher returns across most time frames, making these FDs more appealing.
Example Returns for Senior Citizens:
- 7–14 days: 3.75%
- 15–45 days: 4.20%
- 46–90 days: 4.60%
- 91–120 days: 5.25%
- 121–180 days: 5.50%
- 181–271 days: 6.60%
- 272 days to 1 year: 6.85%
- 1 year: 7.75%
- 1 year 1 day to 18 months: 8.00%
- 18–24 months: 8.25%
- 36–60 months: 8.00%
- 60 months 1 day to 120 months: 7.75%
Premature Withdrawal Penalty
Yes Bank applies a 0.25% penalty on premature withdrawals for deposits up to ₹5 crore, applicable to both partial and full withdrawals. Exemptions are available for Yes Bank staff and senior citizens based on when the FD was booked, with no penalty for certain bookings after May 2021 for staff and May 2022 for senior citizens.
These revised rates allow Yes Bank customers to earn higher returns, particularly for FDs between 18 and 24 months, providing flexible, competitive investment options.
Disclaimer: The information provided here regarding Yes Bank’s Fixed Deposit interest rates is for general informational purposes only and is based on publicly available details as of November 5, 2024. Interest rates, terms, and conditions are subject to change at the discretion of Yes Bank. Customers are advised to visit Yes Bank’s official website or consult with bank representatives to confirm the latest rates, penalties, and applicable terms. This information should not be considered financial advice, and readers should evaluate their individual financial needs and consult a financial advisor before making any investment decisions.
Leave a Reply