YES Bank is a private-sector bank in India, established in 2004. It provides a variety of banking and financial services, such as loans, fixed deposits, current accounts, savings accounts, and many more. The competitive interest rates that YES Bank FDs offer give you a chance to increase your wealth steadily during the selected tenure. Fixed deposits offered by YES Bank have a range of tenure choices, enabling clients to match their investments to their financial objectives and liquidity needs.
The table displays the interest rates for fixed deposits (FDs) offered to normal citizens and senior citizens based on different tenures.
Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
7 – 14 days | 3.25% | 3.75% |
15 days – 1 month 14 days | 3.7% | 4.2% |
1 month 15 days – 2 months 28 days | 4.1% | 4.6% |
2 months 29 days – 3 months 28 days | 4.75% | 5.25% |
3 months 29 days – 5 months 27 days | 5% | 5.5% |
5 months 28 days – 8 months 27 days | 6.1% | 6.6% |
8 months 28 days – 11 months 28 days | 6.35% | 6.85% |
11 months 29 days – 1 year 5 months 28 days | 7.5% | 8% |
1 year 5 months 29 days – 2 years 11 months 28 days | 7.75% | 8.25% |
2 years 11 months 29 days – 4 years 11 months 27 days | 7.25% | 8% |
4 years 11 months 28 days – 9 years 11 months 27 days | 7% | 7.75% |
Eligibility Criteria for YES Bank FD Accounts
The following category of people can open a YES Bank FD account:
- Hindu Undivided Family (HUF)
- Resident individuals
- Sole Proprietorships, Partnership Firms, Companies
- Family Trusts
- Societies, Clubs and Associations
Documentation Required for YES Bank FD Accounts
The following documentation must be presented by those wishing to open an FD account with YES Bank:
- A valid ID document, such as an Aadhaar Card or passport, is required by the bank to verify the applicant’s identity and age.
- Additionally, the customer needs a PAN card.
- Utility bills that serve as the bank’s address evidence, such as gas and electricity bills, must also be submitted by the applicant.
- PAN Card KYC records
- If the FD is for corporations, they are required to present a business certificate and other pertinent documents that detail the entity they are affiliated with.
YES Bank FD Schemes
There are various schemes offered by YES Bank. Have a look at the best ones for the purpose of fixed deposits.
Regular Fixed Deposit Scheme
YES Bank offers flexible fixed deposit options with a tenure ranging from 7 days to 10 years and a minimum deposit amount of INR 1,000. Senior citizens enjoy an additional interest rate of 0.50%. Reinvestment options are available for deposits with a minimum tenure of 6 months and 1 day. The bank also provides sweep-in-facility and overdraft facilities for deposits above INR 50,000. Eligibility includes resident Indians, HUFs, joint investors, and individuals.
Tax Saver Fixed Deposit Scheme
Investors can claim a tax deduction of up to INR 1,50,000 under Section 80C of the Income Tax Act for YES Bank’s fixed deposit with a 5-year tenure. The minimum deposit amount required is INR 1,000, while the maximum is INR 1,50,000. Senior citizens enjoy additional interest rates of 0.50%. Depositors are eligible for tax exemption up to INR 1,50,000. Resident Indians, HUFs, joint investors, and individuals can apply for an FD in YES Bank.
YES Respect Fixed Deposit
The investment duration for deposits ranges from 7 days to less than 3 years. Senior citizens enjoy an extra interest rate of 0.50% on domestic deposits. The account offers a sweep-in & sweep-out facility, allowing pre-mature withdrawal in multiples of Rs 1 with the sweep-in option. Additionally, an overdraft facility of up to 90% of the principal amount is available. Customers can also opt for a re-investment FD, which offers quarterly compounding interest on the deposited amount.
YES Bank Floating Rate Fixed Deposit
The floating rate term deposit offers a unique opportunity to investors, combining the safety of a fixed deposit with dynamic returns. Customers can benefit from this flexible investment option with a deposit tenure ranging from 1 year to 3 years and a minimum deposit amount of INR 10,000.
What are YES Bank FD Interest Rates for Deposits > 2 Crores?
The table shows the interest rates (% p.a.) offered for various tenures of fixed deposits. For more details, refer to the table.
Tenure | Interest Rates (% p.a.) |
7 -30 days | 5.30 |
31 – 45 days | 5.55 |
46 – 60 days | 5.85 |
61 – 90 days | 6.35 |
91 – 150 days | 7.00 |
151 – 180 days | 7.05 |
181 – 270 days | 7.10 |
271 days – < 1 year | 7.35 |
1 year – <2 years | 7.70 |
2 years to < 3 years | 7.55 |
3 years to < 5 years and above | 7.35 |
What are YES Bank FD Interest Rates for Deposits < 2 Crores?
The table displays the interest rates (% p.a.) offered for fixed deposits for regular citizens and senior citizens. The YES Bank FD rates for senior citizens are higher than those for regular citizens, incentivizing them to invest in fixed deposits.
Tenure | Interest Rates (% p.a.) for Regular Citizens | Interest Rates (% p.a.) for Senior Citizens |
7 – 14 days | 3.25 | 3.75 |
15 – 45 days | 3.70 | 4.20 |
46 – 90 days | 4.10 | 4.60 |
91 – 120 days | 4.75 | 5.25 |
121 – 180 days | 5.00 | 5.50 |
181 – 271 days | 6.10 | 6.60 |
272 days – < 1 year | 6.35 | 6.85 |
1 year – < 18 months | 7.50 | 8.00 |
18 months – < 36 months | 7.75 | 8.25 |
36 months – < 60 months | 7.25 | 8.00 |
60 months – 120 months | 7.00 | 7.75 |
Interest Rates for Domestic/ NRO / NRE Fixed Deposits
- Table 1 represents the data for Domestic/ NRO fixed deposits
Table 1
Tenure | Interest Rates (% p.a.) |
7 – 14 days | 3.25 – 3.75 |
15 – 45 days | 3.70 – 4.20 |
46 – 90 days | 4.10 – 4.60 |
91 – 120 days | 4.75 – 5.25 |
121 – 180 days | 5.00 – 5.50 |
181- 271 days | 6.10 – 6.60 |
272 days – < 1 year | 6.35 – 6.85 |
1 year – < 18 months | 7.50 – 8.00 |
18 months – < 36 months | 7.75 – 8.25 |
36 months – < 60 months | 7.25 – 8.00 |
60 months – 120 months | 7.00 – 7.75 |
- Table 2 represents the data for NRE fixed deposits
Table 2
Tenure | Interest Rates (% p.a.) |
1 year – < 18 months | 7.50 |
18 months – <n 36 months | 7.75 |
36 months – 10 years | 7.70 |
Summing Up
YES Bank FDs are known for their safety and dependability, making them an excellent choice for risk-averse investors. To protect against changes in market rates, the interest rates on FDs are set at the time of deposit. Investors who choose YES Bank FDs benefit from stability, growth potential, and ease, making it a sensible decision for protecting and enhancing their capital. However, it’s important to consider your financial objectives, time duration, and liquidity needs before investing in YES Bank FDs.
YES Bank Fixed Deposit FAQ’s :-
YES Bank FDs can be created online from anywhere if the amount is under one crore rupees. However, it is also possible to start a fixed deposit by going to any YES Bank branch and doing so.
Yes. According to the Income Tax Act of 1956, any fixed deposit made for a duration of more than five years is covered by the tax-saver program.