YES Bank FD Interest Rates w.e.f 8th June 2024

Here are the ways through which one can open a Yes bank FD Account-

1) NetBanking

• Visit Yes bank's website and sign in to retail net banking using your login id and password. After signing in, towards your left-hand side you will come across 'Open New Fixed Deposit'. Click on that.
• Next, select Source amount, Deposit amount, Branch name, Tenure, Nomination Required, Sweep in Required (Yes/No), and Open FD.
• An OTP will be sent on your registered mobile number and your FD will get booked.

2) Mobile App - Yes Mobile

• Sign in to Yes Mobile App.
• Choose 'Deposits' in the options.
• Choose 'Fixed Deposits'.
• Select Source Account, FD type, Deposit Amount, Tenure, Maturity Instructions, Nomination Required, Sweep in Required (Yes/No)
• Enter MPIN for validating the transaction.

3) Booking FD with Yes Robot

• Open Facebook Messenger or the Yes Bank website.
• Search for 'Yes Robot' on Facebook Messenger or click the 'Yes Robot' icon present at the bottom right of the screen on Yes bank's website.
• Say ‘Hi’ to begin chatting.
• Type 'Open FD' or 'Open Deposit'.
• Sign in using Customer ID & OTP.
• Choose the deposit type and other necessary details.

4) Phone Banking

• Call on 1800 1200
• Choose “Savings Account related query” on the IVR menu.
• Choose the option to talk with the customer care executive and book a fixed deposit.

5) Booking FD through Whatsapp

• Send “Hi” to 82912 01200 through a mobile number registered with Yes Bank.
• Choose the 'Deposits' in the main menu & then next select FD booking option.
• Enter the FD Value.
• Enter tenure in Months/Days.
• Select 'Confirm' to book your FD.

All individuals belonging to any of the following categories can open a Yes Bank FD online- 

1. Resident Indians, including minors (legal guardian is required as co-applicant)
2. Hindu undivided families
3. Non-resident Indians
4. Sole trader, partnership and joint stock Companies 
5. Co-operative societies, clubs and associations
6. Family trusts

The following documents have to be submitted by applicants for successful activation of Yes Bank FD - 

1. KYC documents such as Aadhaar card, Voter ID, driver's license, etc. for proof of identification.
2. PAN card
3. Address proof documents have to be submitted in the form of KYC documents listed above, or utility bills such as electricity bill, gas bill, etc. 
4. In the case of companies, certification of business has to be submitted accordingly. 
5. The trust deed and registration certificate are required to open an FD account for family trusts. 
6. Associations, societies and clubs need to furnish a copy of their by-laws.

An investment in Yes Bank Tax Saving FD entitles to tax saving up to Rs. 1,50,000 p.a. No other Yes Bank FDs entitle to tax saving under Section 80C of the Income Tax Act.

Also, note that the interest income from the Yes Bank Fixed Deposit is taxable according to the slab rates of income tax. Also, the interest income is subject to a TDS of 10% if the income from Yes Bank FD exceeds Rs. 40,000 p.a. For senior citizens, the limit is Rs. 50,000 p.a.

YES Bank provides loans against their Fixed Deposits. Investors can get up to 90% of the deposit amount as a loan against Yes Bank Fixed Deposit. YES bank offers loans at the rate between 6-8%. Moreover, the tenure of the loan is limited to the tenure of the FD.

YES Bank offers a premature withdrawal facility to its investors. The penalty is levied as per Yes Bank's terms and conditions. The bank permits partial withdrawals for certain requests that depend on the bank's discretion. Note that no interest payments are made for withdrawals made within 7 days from the FD booking date.