MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹ 1,000* on Loans Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Yes Bank Savings Account Interest Rates

Yes Bank Savings Account Interest 2020-21

Last Updated 09th Sep 2020

Saving Account Interest Rate
Customizable Savings Account 5.00% - 6.25%
Savings Exclusive 5.00% - 6.25%
Savings Advantage 5.00% - 6.25%
Smart Salary Platinum 5.00% - 6.25%
Smart Salary Advantage 5.00% - 6.25%
Savings Select 5.00% - 6.25%
Savings Value Account 4.00% - 6.00%
Smart Salary Exclusive 5.00% - 6.25%

Yes Bank Bank Savings Accounts Interest Rate

Yes Bank offers an interest rate ranging between 4.00% to 6.00% 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.

Features

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 from 4.00% to 6.00% 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.
  • 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 Auto Sweep Facility of Yes Bank, your account can be linked to Multi Option Deposit MOD account.

Yes Bank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Customizable Savings Account 5.00% - 6.25% NIL
Savings Exclusive 5.00% - 6.25% Rs. 5,000
Savings Advantage 5.00% - 6.25% N.A
Smart Salary Platinum 5.00% - 6.25% NIL
Smart Salary Advantage 5.00% - 6.25% N.A
Savings Select 5.00% - 6.25% N.A
Savings Value Account 4.00% - 6.00% N.A
Smart Salary Exclusive 5.00% - 6.25% NIL

Yes Bank Savings Account Products

  • Customizable Savings Account: Yes Bank offers interest rates ranging between 5.00% to 6.25% on Customizable Savings Account.You can open a Customizable Savings Account in Yes Bank by depositing NIL amount as minimum balance.
  • Savings Exclusive: If you have deposited your excess funds in a Savings Exclusive, you can get interest at 5.00% to 6.25% 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 5.00% to 6.25% on Savings Advantage. The minimum balance requirement to open this account is .
  • Smart Salary Platinum: You can get interest at 5.00% and 6.25% 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 5.00% to 6.25% on your account.
  • Savings Select: You can get interest at 5.00% to 6.25% in Savings Select. This account can be opened in Yes Bank by depositing a minimum amount of 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 6.00% respectively. The debit card available for this product is ATM cum Debit Card
  • Smart Salary Exclusive: Yes Bank provides interest rate at 5.00% to 6.25% on Smart Salary Exclusive. Further, to open this Saving Account, the minimum balance requirement is NIL. You can open this account at a minimum age of 18 years.

Know More About Savings Account

FAQs

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

Yes Bank offers an interest rate of 4.00% to 6.00% on Savings Account.

What are the Yes Bank ATM Transaction charges on Savings Account?

Yes Bank ATM Transaction charges on Savings Account are Rs. 500.

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, various Debit Cards are offered, 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 AccountATM cum 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

Interest rate on all Yes Bank deposits products listed in the table above is 4.00% to 6.00%.

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

Eligibility criteria for Yes Bank savings account -

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

Yes Bank News - Sep 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.
  • 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.
  • 2017-08-17 : Yes Bank cuts savings account interest rate by up to 1 per cent
    Private sector lender, Yes Bank has reduced the interest rate on savings bank accounts by 1 per cent to 5 per cent for deposits of less than Rs. 1 lakh. However, the bank will continue to pay 6 per cent interest on deposits of over Rs. 1 lakh and less than Rs. 1 crore. Simultaneously, the bank has also slashed interest rate on savings accounts to 6.25 per cent from existing 6.5 per cent for deposits over Rs 1 crore. The new rates will be effective from 1st September, 2017.
*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
Loader
Please wait while your information is being processed...