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Yes Bank Savings Account Interest Rates

Yes Bank Savings Account Interest 2022

Last Updated 05th Jan 2022

Saving Account Interest Rate
Customizable Savings Account 4.00% - 5.50%
Savings Exclusive 4.00% - 5.50%
Savings Advantage 4.00% - 5.50%
Smart Salary Platinum 4.00% - 5.50%
Smart Salary Advantage 4.00% - 5.25%
Savings Select 4.00% - 5.25%
Savings Value Account 4.00% - 5.25%
Smart Salary Exclusive 4.00% - 5.25%
Yes First 4.00% - 5.25%
Yes Primia 4.00% - 5.25%
Yes Bank
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Disclaimer: For balance above INR 10 lcs to INR 1Cr. For YES FIRST customers. Terms and conditions apply. For more details please visit: www.yesrewardz.com
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Yes Bank Bank Savings Accounts Interest Rate

Yes Bank offers an interest rate ranging upto 5.50% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Yes Bank Savings Account youth and minors can get additional benefits on their Savings Account. Yes Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Features and Benefits

Yes Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Yes Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Yes Bank savings account are:

  • It offers interest rates upto 5.50% p.a. You can easily access Yes Bank Savings Account anywhere through a large network of branches and ATMs .
  • If you want to transfer funds from Yes Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
  • To maintain an Yes Bank Savings account, you require a minimum balance of Customized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh.
  • Yes Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Yes Bank Savings Account.
  • With the Auto Sweep Facility of Yes Bank, your account can be linked to a Multi Option Deposit MOD account.

Yes Bank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Customizable Savings Account 4.00% - 5.50% Customized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh
Savings Exclusive 4.00% - 5.50% Rs. 5,000
Savings Advantage 4.00% - 5.50% NIL
Smart Salary Platinum 4.00% - 5.50% NIL
Smart Salary Advantage 4.00% - 5.25% NIL
Savings Select 4.00% - 5.25% Rs. 25000
Savings Value Account 4.00% - 5.25% NIL
Smart Salary Exclusive 4.00% - 5.25% Rs. 5,000
Yes First 4.00% - 5.25% NIL
Yes Primia 4.00% - 5.25% Rs. 2 Lakhs

Eligibility & Documentation Required for Opening Savings Account in Yes Bank

To open a savings account in Yes Bank, you need to fulfill the following eligibility criteria:

  • You need to have valid KYC Documents.
  • You can open a savings account singly or jointly.

Documents Required

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

  • Application Form with attested photographs
  • Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
  • Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

How is Yes Bank Savings Account Interest Rate Calculated?

As per the RBI mandate, Yes Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Yes Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

Interest = Amount (Daily balance)*(No of days)* Interest/Days in the year.

Compare Savings Account Interest Rates of All Banks

Yes Bank Savings Account Products

  • Customizable Savings Account : Yes Bank offers interest rates ranging between 4.00% to 5.50% on Customizable Savings Account.You can open a Customizable Savings Account in Yes Bank by depositing Customized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh amount as minimum balance.
  • Savings Exclusive : If you have deposited your excess funds in a Savings Exclusive, you can get interest at 4.00% to 5.50% on your account. This account can be opened by anyone with a minimum age of 18 years.
  • Savings Advantage : Yes Bank provides interest rates ranging between 4.00% to 5.50% on Savings Advantage. The minimum balance requirement to open this account is NIL.
  • Smart Salary Platinum : You can get interest at 4.00% and 5.50% respectively on Smart Salary Platinum in Yes Bank. The account can be opened in Yes Bank by depositing NIL amount.The debit card available for this account are ATM cum Debit Card).
  • Smart Salary Advantage : If you have deposited your excess funds in a Smart Salary Advantage, you can get interest at 4.00% to 5.25% on your account.
  • Savings Select : You can get interest at 4.00% to 5.25% in Savings Select. This account can be opened in Yes Bank by depositing a minimum amount of Rs. 25000 after an age of 18 years.
  • Savings Value Account : The interest that you can earn on Savings Value Account is in the range of 4.00% to 5.25% respectively.The debit card available for this product isATM cum Debit Card
  • Smart Salary Exclusive : Yes Bank provides interest rate at 4.00% to 5.25% on Smart Salary Exclusive. Further, to open this Saving Account, the minimum balance requirement is Rs. 5,000. You can open this account at a minimum age of 18 years.

FAQs

How much interest is charged by Yes Bank on Savings Account?

As per the current rates, Yes Bank offers maximum interest rate of 5.50% on Savings Account. Yes Bank provides this interest on the minimum balance maintenance of Customized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh. The interest rate may however vary across the Yes Bank savings account product.

What is the minimum amount required for opening Savings Account in Yes Bank?

The minimum amount required for opening a Savings Account in Yes Bank is Customized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh.

What are the balance non - maintenance Charges on Yes Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Yes Bank are None.The minimum balance requirement in Yes Bank savings account is Customized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh.

How does Yes Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Yes Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Yes Bank offer Debit Card to the account holder?

Yes, Yes Bank offer Debit Cards to the account holders differing according to the product. Some of the popular savings account products of Yes Bank with the type of Debit Card offered are listed in the table below.

Customizable Savings AccountYes Prosperity Element Card, YES Prosperity RuPay Domestic Card, Yes Prosperity Engage Debit Card & Yes Prosperity Explore Debit Card
Savings ExclusiveATM cum Debit Card
Savings AdvantageTitanium Debit Card
Smart Salary PlatinumATM cum Debit Card
Smart Salary AdvantageTitanium Debit Card
Savings SelectProsperity Titanium Debit Card
Savings Value Account ATM cum Debit Card
Smart Salary ExclusiveTitanium Plus Debit Card
Yes FirstECLECTIC Debit Card
Yes PrimiaYes Premia Emerge Debit Card

What is the eligibility criteria to open a savings account in Yes Bank?

To open a savings account in Yes Bank you need to fulfill the following eligibility criteria:

  • This account is for resident Indians of 18 years of age and above
  • You must have your basic KYC done

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Yes Bank News - Jan 2022
  • 2022-01-04 : Yes Bank Reports 4 Percent Growth in Advances by December-end
    Yes Bank has reported a 4 per cent growth in advances. The deposits rose by 26 per cent year-on-year to Rs 1,84,289 crore at the end of December 2021, as against Rs 146,233 crore in the same period.
  • 2021-10-27 : Yes Bank Introduces Yes Family Account
    Yes Bank has launched a new family account for its customers. This account will help customers care for well being of their family members. The bank is offering facilities like a dedicated Relationship Manager for the entire family; the flexibility to maintain minimum balance across family accounts; free domestic ATM withdrawals, fee waivers on digital transactions; YES Rewardz points and much more.
  • 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).
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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