Yes Bank FD Rates

Significance of Yes Bank Fixed Deposit Account

• Whether a Yes Bank Fixed Deposit scheme or a fixed deposit in any bank, it is the best risk management tool, especially if the customer is looking for a long-term financial tool
• A Fixed Deposit in Yes Bank or any bank in India is a safe bet for liabilities. In the case of uncertainties, a loan can be availed against the term deposit.
• The competitive Yes Bank FD rates or FD rates of any bank in India help the customer maintain an extra income

From protecting the depositor’s fund to boosting the economy of the country, a fixed deposit account has several benefits.

Types of Yes Bank FD Schemes

The types of Fixed Deposit Schemes offered by Yes Bank are:

Resident Fixed Deposit:

The features of this scheme are:

• The tenure of FD under this scheme ranges from seven days to 10 years.
• Auto-renewal facility of offered.
• An overdraft or loan facility against FD is provided.
• The facility of inter-city banking is offered.

Eligibility:

Any resident individual, Hindu Undivided Families, partnership firms, companies, sole proprietorship, associations, trusts, societies, and clubs are eligible.

Tax Saver FD:

The features of this FD scheme are:

• Tax saver fixed deposits of Yes Bank have a lock-in period of five years.
• Offers the facility of a joint account.
• The depositors can avail of the benefit of tax exemption u/s 80C of the IT Act.
• A loan against FD is not offered.
• The facility of premature withdrawal is provided.

Eligibility:

Any Hindu Undivided Family, resident individual, partnership firm, company, family trusts, sole proprietorship, clubs, societies, and associations are eligible.

Yes Bank Senior Citizen Fixed Deposit Scheme:

The features of this scheme are:

• Yes Bank offers an extra of 0.50% rate of interest to the senior citizens over the regular Yes Bank FD rates of fixed deposits.
• The facility of a joint account is provided wherein the first account holder has to be a senior citizen.
• The Yes Bank FD rates for senior citizens range from 5.50% to 7.75%.

Eligibility:

Indian residents who are of 60 years and above.

Yes Bank Fixed Deposit Rates

It is advisable to reconfirm the FD Rates from the bank before making any decision based on the data provided below.

For Domestic Deposits – Rs.2 Crore < 5 Crore

Note: The aforementioned Yes Bank FD rates are subject to change as per the decision of the Bank. These are revised interest rates W.E.F. 01st September 2020.

Tax Saver FD (Max Deposit - 1 LPA)

Tax Implications

• The amount invested in Fixed Deposit with a tenure of 5 years with Yes Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
• The applicable tax will be deducted at source, i.e. Yes Bank, in case the annual interest earned crosses Rs. 10,000.

For NRO Fixed Deposit - Less than Rs. 2 Cr (last revised on August 18, 2020)

Note: The aforementioned Yes Bank FD rates are subject to change from time to time as per the decision of the Bank and. These rates are for deposits less than Rs.2 Crore and are applicable W.E.F. 18. August.2020.

For NRE Fixed Deposit - Less than Rs. 2cr (last revised on August 18, 2020)

Note: The aforementioned Yes Bank FD rates are subject to change from time to time as per the decision of the Bank and. These rates are for deposits less than Rs.2 Crore and are applicable W.E.F. 18. August.2020.

Loan Against Fixed Deposit of Yes Bank

Yes Bank offers loans against fixed deposits. You can get a loan up to 90% of the amount of its fixed deposit. The bank does not offer you a loan against the FD of any other bank. The rate of interest that is offered against FD of Yes Bank is 6% to 8%. The maximum tenure of the loan is restricted to the FD tenure.

Term-Wise Yes Bank FD Interest Rates

Fixed Deposits are considered one of the best ways for investing your surplus money. As per the tenure, the Yes Bank Fixed Deposit interest rates are further categorized into long-term, medium-term, and short-term deposits.

• Long-Term Deposits: The tenure of these fixed deposits range from five years to 10 years and the Yes Bank FD rates offered are 7.25%.
• Medium-Term Deposits: The tenure of medium-term fixed deposits range from one year to less than five years. The Yes Bank FD rates for such deposits is 7.25%.
• Short-Term Deposits: The tenure of Yes Bank short-term fixed deposits range from seven days to 12 months. The Yes Bank FD rates range from 5.00% per annum to 6.75% per annum. The reason for calling them short-term fixed deposits is their tenure which is less than one year.

Note: The aforementioned rates of interest are subject to change from time to time as per the decision of the Bank and. These rates are for deposits less than Rs.2 Crore and are applicable W.E.F. 18. August.2020.