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Yes Bank Fixed Deposit

Yes Bank FD Scheme

Last Updated 07th Jan 2021

Yes Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 3.50% to 6.75%
Minimum Tenure 7 days
Maximum Tenure 10 years
Deposit Amount 10,000
Maximum Deposit 2,00,00,000
    Earn upto 6.95% on FD APPLY NOW

    Yes Bank FD

    Yes Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 7 days to 10 years . Apart from that, Yes Bank FD offers regular returns on fixed deposit ranging between 3.50% to 6.75%. For senior citizens, the interest rates on fixed deposits range between 4.00% to 7.50%. In addition to that, Yes Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of Yes Bank Fixed Deposit Schemes

    Different type of Yes Bank term deposit products offered to the investors are listed as follows:

    Regular Fixed deposits

    Description:

    • The scheme has been designed to help the resident individuals invest in the deposit to earn attractive and higher returns along with flexibility and security.
    • Reinvestment options available after the completion of tenure of 6 months
    • Provides Option to link with saving A/c and avail sweep-in facility.
    • Overdraft facility available for FD of above Rs. 50,000.
    • Premature withdrawal facility available, Available; a penalty of 0.5% is applicable for the FD with tenure of 182 days and more.
    • Nomination facility available.
    • Senior citizens are offered an additional interest of 0.50% over the standard rates.

    Eligibility:

    • All Indian Residents can apply for this fixed deposits, such as Individuals, HUFs, or joint investors.
    Tax Saver Fixed Deposit Scheme

    Description:

    • The scheme has been designed to help the resident individuals to save their money on tax and derive effective yields and returns on their fixed deposit. An investor can claim a deduction of a maximum of Rs. 1. 5 lakh by investing in Yes Bank tax saver fixed deposits.
    • Tax exemption up to Rs. 1.5 lakh
    • It has a lock-in period of 5 years
    • Joint account facilities available Joint account facilities available.

    Eligibility:

    • All Indian Residents can apply for this fixed deposits, such as Individuals, HUFs, or joint investors.

    Benefits of Yes Bank FD

    Yes Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

    • Guaranteed returns: The best thing about Yes Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, Yes Bank offers FD rates up to 6.75%. The interest rates offered on Yes Bank FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, Yes Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because Yes Bank fixed deposit allows one to borrow a secured loan against Yes Bank FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about Yes Bank loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.
    • Flexible tenures: Yes Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. Yes Bank offers fixed deposit for a minimum tenure of up to a maximum tenure of 10 years . Yes Bank offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, Yes Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of 10,000. Apart from that, one can invest in the Yes Bank FD up to a maximum of 2,00,00,000.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with Yes Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from Yes Bank will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of Yes Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for Yes Bank FD

    Yes Bank FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for Yes Bank FD

    Yes Bank fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    FAQs

    What is the loan against FD repayment tenure?

    Yes Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years .

    What is the minimum investment for FDs under Yes Bank?

    Yes Bank FD can be availed with a minimum deposit of 10,000.

    What is the minimum amount for a fixed deposit in Yes Bank?

    The minimum amount required for a fixed deposit investment in Yes Bank fixed deposit is 10,000.

    What is the current interest rate on FD in Yes Bank?

    Currently, Yes Bank offers an interest rate ranging between 3.50% to 6.75% on its fixed deposits.

    What is the penalty for early withdrawal?

    The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in Yes Bank?

    Yes Bank fixed deposit can be opened with a minimum tenure of 7 days .


    Yes Bank News - Jan 2021
    • 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
      Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
    • 2020-12-21 : Revised FD rates for Yes Bank
      Yes Bank changed its FD rates. The rate for 7 to 14 days is 3.50%, it is 4% for 15 to 45 days, for 46 to 90 the rate stands at 4.50% and for three months to 5 months 29 days the rate is 5%. Further, the rate for six months to 8 months 29 days is 5.50%, for 9 months to 364 days it is 5.75% and for 1 year to 3 years the rate is 6.50%. The FD rates for the tenure of 3 years to 10 years stands at 6.75%. The revised rates are in effect from 8 December 2020.
    • 2020-07-28 : Yes Bank reported a net profit of 45. 44 crore for June quarter
      YES Bank posted a 60.05% year-on-year fall in net profit at Rs 45.44 crore for the quarter ended June 30. The Bank had posted a net profit of Rs 113.76 crore in the corresponding quarter last year. Deposits at Rs 1,17,360 crore grew 11.4% QoQ aided by 26.4% QoQ growth in current account deposits and 12.6 per cent QoQ growth in term deposits which includes fixed and recurring deposits. CASA ratio stood at 25.8%. Further, Net interest income was at Rs 1,908 crore bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans.
    • 2020-07-07 : Yes Bank revised its FD rates
      Yes Bank changed its FD rates. The rate for 7 to 45 days is 5%, it is 5.50% for 46 to 90 days and stands at 6% for three months to 5 months 29 days. Further, the rate for six months to 364 days is 6.50%, for one year to 10 years is 6.75% and is 7% for 2 to 3 years. The revised rates are in effect from July 6 2020.
    • 2019-10-31 : Yes Bank revised FD rates
      Yes Bank revised its Fixed Deposit interest rates with effect from October 25, 2019. The revised rate for 7-45 days is 5.00%, for 46 days to 6 months the rate is 6.25%, for six months to 9 months the rate is 6.85%, the rate for nine months to 1 year is 7.15%, and for 1-10 years the revised FD rate is 7.25%. Further, the Bank announced special rates for certain tenures. For one year ten days- 1 year 20 days, the rate is 7.40%, for 18 months eight days to 18 months 18 days it is 7.40% and the rate set for 2-3 years is 7.50%.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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