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YES Bank FD Rates
YES Bank offers a number of fixed deposit schemes. The FDs can be of tenure ranging from min 7 Days to 10 Year 22 Days . The roi for different schemes starts from 3.25% to 6.75 % for the general public and 3.75% to 7.50 % for senior citizens. The min amount required to open an Fixed Deposit with YES Bank is Rs.1,000
Types Of YES Bank Fixed Deposit Schemes
Yes Bank is offering a different kinds of fixed deposits to its customers. These are :
Name of Schemes | For General Citizen (p.a.) | For Senior Citizen (p.a.) |
|---|---|---|
| Yes Bank Domestic Term Deposits FD | 3.25% to 6.75 % | 3.75% to 7.50 % |
| Yes Bank NRO FD | 3.25% to 6.75 % | -- |
| Yes Bank NRE FD | 5.75% to 7.25 % | -- |
Yes Bank Domestic Term Deposits FD
View SchemeGiven below are the latest Yes Bank Domestic Term Deposits FD, ranging from 7 Days to 10 Year 2 Days as of August, 2022.
Tenure | Interest Rates for Public (p.a.) | Interest Rates for Senior Citizens (p.a) |
|---|---|---|
| 7 Days Upto 14 Days | 3.25% p.a. | 3.75% p.a. |
| 15 Days Upto 1 Months 15 Days | 3.70% p.a. | 4.20% p.a. |
| 1 Months 16 Days Upto 3 Months | 4.10% p.a. | 4.60% p.a. |
| 3 Months Upto 6 Months | 4.75% p.a. | 5.25% p.a. |
| 6 Months Upto 9 Months 3 Days | 5.50% p.a. | 6.00% p.a. |
| 9 Months 3 Days Upto 1 Year | 5.75% p.a. | 6.25% p.a. |
| 1 Year Upto 1 Year 6 Months 2 Days | 6.25% p.a. | 6.75% p.a. |
| 1 Year 6 Months 2 Days Upto 3 Year | 6.75% p.a. | 7.25% p.a. |
| 3 Year Upto 10 Year 2 Days | 6.75% p.a. | 7.50% p.a. |
Yes Bank NRO FD
View SchemeGiven below are the latest Yes Bank NRO FD, ranging from 7 Days to 9 Year 11 Months 27 Days as of August, 2022.
Tenure | Interest Rates for Public (p.a.) |
|---|---|
| 7 Days Upto 14 Days | 3.25% p.a. |
| 15 Days Upto 1 Months 15 Days | 3.70% p.a. |
| 1 Months 16 Days Upto 3 Months | 4.10% p.a. |
| 3 Months Upto 5 Months | 4.75% p.a. |
| 5 Months Upto 6 Months | 5.50% p.a. |
| 6 Months Upto 1 Year | 5.75% p.a. |
| 1 Year Upto 3 Year | 6.25% p.a. |
| 3 Year Upto 5 Year 1 Months 7 Days | 6.25% p.a. |
| 5 Year 1 Months 7 Days Upto 9 Year 11 Months 27 Days | 6.75% p.a. |
| Upto 1 Year | 5.75% p.a. |
Yes Bank NRE FD
View SchemeGiven below are the latest Yes Bank NRE FD, ranging from 1 Year 1 Days to 10 Year 22 Days as of August, 2022.
Tenure | Interest Rates for Public (p.a.) |
|---|---|
| 1 Year 1 Days Upto 3 Year | 7.01% p.a. |
| 3 Year Upto 10 Year 22 Days | 7.25% p.a. |
| Upto 1 Year | 5.75% p.a. |
Yes Bank is an Indian-origin bank that is also one of the fastest-growing financial service providers in the country. Incorporated in 2004, Yes Bank offers various financial solutions and services, including savings accounts, current accounts, NRI savings accounts, investment banking solutions, corporate credit cards, and much more. With investment becoming a major source of income appreciation, all eyes are turning to fixed deposit schemes owing to their low-risk factor. Yes Bank Fixed Deposit scheme adheres to its traditional features and benefits whilst admonishing the financial product with an excellent customer service experience. Read about the Yes Bank Fixed Deposit investment schemes, their types, benefits, and procedure to get started with it.
Classification of Yes Bank Fix Deposit
With an array of Yes Bank Fixed Deposit types, customers have the provision to choose the one that suits their needs and situation better. With an eye to providing a better customer experience, Yes Bank has introduced various FDs. These Yes Bank Fixed Deposit Schemes are as follows.
- Floating Rate Fixed Deposit – Clubbed with low risk, Yes Bank has introduced the floating rate FD where one can enjoy the benefits of assured returns with the market rate dynamics. The floating rate Yes Bank FD goes side-by-side with the prevailing Repo rate prescribed by the RBI. This can enable maximised returns as and when interest rates are higher. Furthermore, users can enjoy liquidity with overdraft protection of up to 90% of the investment amount.
- Yes Respect Fixed Deposit – This Yes Bank FD offers a specialised interest rate offer for senior citizens and a safe and secure investment experience. The duration of the investment ranges between 7 days to 3 years. Moreover, customers can enjoy reinvestment options to avail of quarterly compounding options.
- Yes Respect Plus Fixed Deposit – For an investment that ranges for more than 3 years, Yes Bank offers higher interest rates offering customers elevated returns in the long run. Additional interest rate hike applicable for senior customers as well.
- Tax Saver Fixed Deposits – This Yes Bank fixed deposit offers triple benefits on a single investment, including attractive interest rates, tax benefits, and rewards points for claiming better services. There will be a 5-year lock-in policy effective with the tax saver fixed deposit.
Features of YES Bank Fixed Deposit
YES Bank Fixed Deposit scheme comes with various features. It is handy to be aware of what the policy has in store for the customers. Some of the important features of YES Bank FDs are as follows:
- Accessibility of FD scheme from the comfort of one’s home via digital platforms like YES Online, YES Mobile, YES WhatsApp, YES Robot, and so on.
- Benefits like YES Rewardz Loyalty points for using the YES Bank FD scheme.
- Minimum tenure starts from 7 days, extending to 10 years.
- Fixed and floating interest rate options
- Availability of facilities like sweep-in and sweep-out
- Premature withdrawal and closure possible
- Overdraft facility up to 90% available
- Different payout options available
- Auto-renewal facility available
How to Choose the Right YES Bank Fixed Deposit
There are various types of YES Bank products that customers can choose from. Each type satisfies different requirements of the consumers. With financial products such as YES Bank Fixed Deposits, savings schemes, current accounts, loans, etc., customers have the freedom to choose from this range of YES Bank products. Fixed Deposit being a stable financial tool that can cater to an advantageous financial situation, investors need to be aware of the right YES Bank FD.
- Assess the financial situation. Fixed Deposits require the customer to make a lump sum contribution. Therefore the current income situation needs to be considered of grave importance.
- Jolt down the needs and goals. It is also important to plan a financial goal regarding how much one needs to save.
- Talk to an expert. Finally, speaking with an experienced fund manager is always preferable to get a deeper understanding of how YES Bank FDs work.
Benefits of YES Bank Fixed Deposit
Fixed Deposit accounts are always an addon to the financial corpus one can assimilate within a period of time. Additionally, the involvement of interest rates offered by banks makes the investment value appreciate over time. This can benefit the contributor in several ways. They can use the money in case of emergencies, plan a vacation, plan a home or vehicle purchase, or provide financial support for children’s education. Moreover, here are some benefits of availing a YES Bank Fixed Deposit:
- Assured Returns – The major reason people invest in FDs is the assurance that they will get back their investment along with interest earned. YES, Bank also assures a return based on the prevailing interest rates.
- Easy Investing Platform – Yes, Bank services are top-notch, allowing customers to make flexible investment routines. Their platform is also noted to be customer friendly.
- Insulating a Financial Discipline – Like any savings account, the YES Bank Fixed Deposit motivates the customer to follow a steady, disciplined path of making smart financial decisions.
- Low Risk – YES Bank FD account offers its customers lower risk owing to a fixed interest rate immune from market price fluctuations. Any future inflation can also be met with the attractive interest rates offered by the bank. Moreover, for senior citizens, YES Bank offers specialised interest rates.
- Availability of calculator – Before making any investment, it is always prudent to ascertain the outcome beforehand. With the help of a YES Bank FD Calculator, one can estimate the outcome of their investment beforehand, motivating them to make a smart financial decision.
Who is Eligible to Open a YES Bank Fixed Deposit Account?
To open a YES Bank Fixed Deposit account, there are some fixed parameters that the applicant needs to adhere to. These prerequisites necessarily include the following pointers.
- The applicant can be a resident of India with a valid identity document and residential proof.
- HUF, companies, partnerships firms, sole proprietors, family trusts, associations, clubs, and societies with valid documents can open a YES Bank FD.
- There will be a requirement to nominate a relative in case of the demise of the applicant.
- A minimum deposit of INR 10,000 is mandatory
Yes Bank Fixed Deposit – Documentation Required
Document submission is essential to getting a Yes Bank Fixed Deposit account setup. This is necessary to establish the customer’s identity and their residential proof and bank details authentication. The documents required for opening a Yes Bank FD account are as follows.
| Identification Proof |
|
| Residential Proof |
|
| Other essential forms |
|
How is the Interest Rate Calculated on Yes Bank Fixed Deposit?
The computation of interest rates on Yes Bank Fixed Deposits is based on a mathematical formula which incorporates the principal amount, maturity tenure, interest rate, and the compounding rate. Furthermore, there are a couple of ways to calculate the interest rate. The first is the simple interest, and the second is the compound interest. The former can be arrived at using the formula,
Interest = p x r x t / 100
Here,
- P stands for principal,
- R stands for rate of interest, and
- T stands for tenure.
The latter can be computed using the formula,
a = p (1 + r / n ) ^ nt
Here,
- A stands for final amount,
- P stands for the principal amount,
- R stands for rate of interest,
- N stands for the number of times interest is compounded, and
- T stands for a duration of the investment.
Yes Bank FD Returns Based on Investment Amount
Now, anyone can calculate the outcome based on their Yes Bank Fixed Deposit investment amount with the help of an online tool known as Fixed Deposit Calculator. The tool takes inputs such as fixed deposit amount, tenure, interest rate, and investor category. Based on these inputs, the calculator automatically calculates the results in real-time. Here is a calculation of Yes Bank FD returns based on the investment amount.
| Investment Amount | Returns |
| INR 10,000 | INR 10,675 |
| INR 50,000 | INR 53,375 |
| INR 1,00,000 | INR 1,06,750 |
| INR 1,50,000 | INR 1,60,125 |
| INR 2,50,000 | INR 2,66,875 |
| INR 3,00,000 | INR 3,20,275 |
| INR 5,00,000 | INR 5,33,750 |
| INR 10,00,000 | INR 10,67,500 |
| INR 1,00,00,000 | INR 1,06,75,000 |
| INR 5,00,00,000 | INR 5,33,75,000 |
The calculation above has assumed that the tenure is 12 months with the interest rate being 6.75%.
Compare Yes Bank Fixed Deposit Returns with Top Banks
With Yes Bank Fixed Deposit rates ranging from 3.25% to 6.50% for regular citizens and 3.75% to 7.25% for senior citizens; here is a table that shows the fixed deposits rates of some of the other banks. This comparison can help a customer assess whether the fixed deposit rate offered by a certain bank is suitable for their financial needs and capacity.
| Bank Name | FD Interest Rates |
| Bharat Bank | 5.9% |
| Aryavart Bank | 5.5% |
| Andhra Pragathi Grameena Bank | 5.7% |
| Andhra Pradesh Grameena Vikas Bank | 5.65% |
| ESAF Small Finance Bank | 5.75% |
| Utkal Grameen Bank | 5.45% |
| Punjab and Sind Bank | 5.55% |
| SBI Bank | 5.40% |
| ICICI Bank | 5.50% |
| Axis Bank | 5.50% |
| HDFC Bank | 5.50% |
| Bank of Baroda | 5.30% |
| IDFC Bank | 5.75% |
| Kotak Mahindra Bank | 5.10% |
| Canara Bank | 5.35% |
| IndusInd Bank | 7.00% |
| Punjab National Bank | 5.25% |
How to Open a Yes Bank FD Account
To open a Yes Bank FD Account, it is assumed that the applicant is already holding a Yes Bank account. Moreover, they will be required to register their email and phone number for further communication and authentication. Lastly, there will also be a requirement of creating a net banking account from which they will have monitoring access to their fixed deposit account. Finally, one can follow the steps provided below to open a Yes Bank Fixed Deposit account.
- Go to the official website of Yes Bank.
- Log in to the net banking account by entering the login credentials.
- From the dashboard, customers can see the “open a fixed deposit account” option.
- Next, they will have to establish a few details, including the source amount, the amount they are planning to deposit, the name of the Yes Bank branch closest to them, set the maturity date, and provide a nomination name.
- Once all the information is set, click on the “open fixed deposit” option.
- A one-time password will be prompted on the registered mobile number.
- After verification, the Yes Bank FD account will be ready for use.
Frequently Asked Questions (FAQs)
What is the FD rate in Yes Bank?
The Yes Bank fixed deposit rates range between 3.25% to 6.50% for regular citizens. Furthermore, senior citizens get specialised offers that range from 3.75% to 7.25%.
What is the interest of 1 lakh in Yes Bank?
As per the interest rates offered by the Yes Bank fixed deposit, the calculated revenue on an INR 1,00,000 investment can be INR 21,467 on a 3-year duration and INR 38,282 on a 5-year duration.
How to get a fixed deposit receipt online at Yes Bank?
A fixed deposit receipt is a document banks provide on the investment a customer has contributed. You can claim your Yes Bank fixed deposit receipt by logging in to your Yes Bank account and downloading the slip from the dashboard.
How to break a fixed deposit in Yes Bank online?
You can prematurely break your Yes Bank fixed deposit by submitting an FD closure request form. The premature fixed deposit withdrawal will be chargeable as per the bank policies.
What minimum/maximum amount is required to open an FD account with Yes Bank?
The minimum amount needed to open an FD account with Yes Bank has been set at INR 10,000. The maximum amount one can deposit is INR 5 crore, which can be deposited through net banking, mobile banking, and directly from a branch.
Does Yes Bank Charge for Premature Withdrawal of FDs?
Yes Bank charges an early withdrawal fee on Fixed Deposits, around 1% to 3% of the total amount invested.
Does Yes Bank allow pre-closure of fixed deposit accounts?
Although Yes Bank allows preclosure of fixed deposit accounts, they charge a penalty based on how early the closure is requested. For example, for a premature withdrawal of fewer than 181 days, Yes Bank charges a fee equivalent to 2% of the total amount.
What is the penalty for breaking FD in Yes Bank?
The penalty for breaking the Yes Bank FD ranges from 1% to 3%, depending on how early the withdrawal is requested. The basic charge starts from 1% for withdrawal from 1 year to 3 years. It increases as maturity nears.
In how many years will FD double in Yes Bank?
As per method 72, the Yes Bank FD investment can be estimated to become double in about 14 years.
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