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Yes Bank Savings Accounts

Yes Bank Savings Account

Last Updated 07th Jan 2021

  • Yes Bank offers a wide range of savings account products for specific customer groups.
  • Minimum balance requirement to open a savings account in Yes Bank is --.
  • You can get high returns up to 6.00% on a savings account.
  • Open instant Yes Bank savings account online.
  • Internet banking and mobile banking facility available.
  • The facility of safe deposits locker facility, nomination available in Yes Bank.
Apply for Savings Account

Yes Bank Savings Account

Yes Bank offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Features and Benefits of Yes Bank Savings Account

Benefits of Yes Bank saving Account are as follow:

  • Yes Bank offers an interest rate on saving account in the range of 4.00% to 6.00%.
  • Balance requirement for Yes Bank savings account is .
  • An individual can transfer the Yes Bank savings account to any other branch without changing the account number.
  • Safe deposits locker facility, nomination facility is also available.
  • Yes Bank savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
  • It provides various kinds of debit cards as per account holder’s convenience.
  • Yes Bank offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
  • No charge is levied for passbook service.

Yes Bank Savings account Charges

ProductMinimum balanceInterest RateNon Balance Maintenance Charges
Customizable Savings AccountNIL4.00% - 5.50%None
Savings ExclusiveRs. 5,0005.00% - 6.25%Rs. 500
Savings Advantage5.00% - 6.25%--
Smart Salary PlatinumNIL5.00% - 6.25%None
Smart Salary Advantage5.00% - 6.25%--
Savings Select5.00% - 6.25%--
Savings Value Account 4.00% - 6.00%--
Smart Salary ExclusiveNIL5.00% - 6.25%None

Yes Bank Savings Account Products

Yes Bank offers multiple savings account products for different purposes. Some of the popular products of Yes Bank savings are:

Customizable Savings Account

Account that gives the customer the power to choose, instead of offering off the shelf products.

Key Features:

  • Protect the customer against unwarranted charges by eliminating unnecessary account features
  • Maximum tax exemption benefit with 34 percent lesser investment in terms of balances

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Savings Exclusive

Customizable savings account will give you the higher interest rate of 6 percent p.a. and also the maximum tax exemption benefit with 34 percent lesser investment.

Key Features:

  • Tax free interest income upto Rs. 10,000 on Savings accounts
  • Options of choosing between range of cards like platinum debit card, titanium debit card and Rupay domestic debit card
  • Exclusive benefits and Offers on YES Bank products like Demat Account and locker facility

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Savings Advantage

A Smart Salary Advantage Account offers a wide range of benefits and services to meet all your banking needs.

Key Features:

  • Zero balance savings account
  • Tax free interest income upto Rs. 10,000 on Savings accounts
  • One view of your Savings Account, Fixed Deposits, and Mutual Funds with Net Banking
  • Personal Accident Insurance Cover of Rs. 2 Lacs
  • Purchase protection worth Rs. 25,000 for salaried customers

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Smart Salary Platinum

Enjoy exclusive range of privileges and benefits with YES BANK Smart Salary Platinum Account.

Key Features:

  • Zero balance savings account
  • Tax free interest income upto Rs. 10,000 on Savings accounts
  • One view of your Savings Account, Fixed Deposits, and Mutual Funds with Net Banking
  • Free Personal Accident Death Cover of Rs. 15 Lacs and Air Accident Death Cover of Rs. 25 Lacs

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Smart Salary Advantage

Enjoy the convenient banking by opening Savings Advantage account as per your convenience and requirements from home or office, by simply filling an online account. opening form

Key Features:

  • Zero balance savings account
  • Tax free interest income upto Rs. 10,000 on Savings accounts
  • One view of your Savings Account, Fixed Deposits, and Mutual Funds with Net Banking
  • Personal Accident Insurance Cover of Rs. 2 Lacs

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Savings Select

The Savings Select Account is specially designed for the customers to instil the habit of savings among them.

Key Features:

  • Sweep in facility
  • Tax free interest income upto Rs. 10,000 on Savings accounts

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Savings Value Account

This account is a complete banking package for your money offering a host of banking benefits with a minimal balance requirement.

Key Features:

  • Tax free interest income upto Rs. 10,000 on Savings accounts
  • Offers free set up of Standing instruction facility

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Smart Salary Exclusive

Smart Salary Exclusive Account offers you the wide range of benefits and privileges with exciting features, no minimum balance requirement is necessary for opening this account.

Key Features:

  • Zero balance savings account
  • Tax free interest income upto Rs. 10,000 on savings accounts
  • One view of your Savings Account, Fixed Deposits, and Mutual Funds with Net Banking
  • Personal Accident Insurance Cover of Rs. 5 Lacs
  • Purchase protection worth Rs. 25,000 for salaried customers

Eligibility:

  • This account is for resident Indians of 18 years of age and above

Yes Bank Savings Account Nomination Plan

Yes Bank asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. Yes Bank savings account provides the nomination facility in all the savings products.

Yes Bank Savings Account Welcome Kit

Yes Bank provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Top Applications Offering UPI Facility

Yes Bank Savings Account Helpline

Individuals can call Yes Bank’s 24X7 helpline number 1800-1200, which is accessible from all landlines and mobile phones in the country.

Open saving account with Other Banks online

FAQs

Can I open Yes Bank bank account online?

Yes Bank enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

What is the minimum balance for an Yes Bank savings account?

Minimum balance requirement differs with Yes Bank saving account products. The minimum balance required to open a Savings Value Account in Yes Bank is .

Which saving account is best in Yes Bank?

There are various savings account products offered by Yes Bank. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

Can I open Yes Bank account with zero balance?

The minimum balance requirement to open a savings account with Yes Bank is . If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.


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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.
  • 2020-07-28 : 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.
  • 2018-12-26 : Yes Bank to use data analytics to offer the right mix of products
    In a bid to further strengthen its retail loans segment, the bank is planning to harness data analytics to understand customer behaviour to offer them a right mix of products which suits them the most, based on a predictability model. In addition to this, the bank is trying to focus upon building their CASA (current account savings account).
  • 2018-01-05 : Yes Bank, Nearby Tech bring cardless-pinless ATM service 
    Fintech startup Nearby Technologies has joined hands with Yes Bank providing, Aadhaar- enabled cardless and pinless ATM service. Through this, the customers can deposit or withdraw money at any retailer place. A retailer who uses the PayNEARBY mobile application on a smart phone, can become an Aadhaar ATM/Aadhaar Bank branch for cash withdrawals and deposits by a customer.
  • 2017-09-26 : Yes Bank set to achieve low-cost deposit target of 40 per cent
    Yes Bank plans to achieve a higher proportion of deposits and advances from retail segment. The bank has been encouraged by a healthy growth in deposits and advances in the segment.
*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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