|Listed on exchange as||Yes Bank Ltd.|
|Tenure||Regular customers||Senior citizens|
For Yes Bank FDs with tenure ranging from 7 days to 12 months, the interest rate ranges from 3.00% p.a. to 5.75% p.a. These deposits are known as short term deposits as their tenure is less than 1 year.
Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 6.50%
These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 6.75%.
Here are the ways through which one can open a Yes bank FD Account-
2) Mobile App - Yes Mobile
3) Booking FD with Yes Robot
4) Phone Banking
5) Booking FD through Whatsapp
All individuals belonging to any of the following categories can open a Yes Bank FD online-
The following documents have to be submitted by applicants for successful activation of Yes Bank FD -
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.
Is there any minimum amount needed to open a Yes Bank FD account?
The minimum deposit amount for Yes Bank FD is Rs. 10,000.
What is the minimum and maximum tenure for Yes Bank FD?
Yes Bank FD tenure ranges from 7 days to a maximum of 10 years.
What is the interest frequency options available for customers?
Customers can go for monthly, quarterly or at maturity interest payout (for FDs with less than 6 months tenure)
Does Yes Bank FD provide an auto-renewal facility?
Yes, the bank provides an auto-renewal facility.
Does Yes Bank Fixed deposit have any minimum tenure for reinvestment?
Yes, the minimum tenure for reinvestment is 6 months and 1 day.
Is there any penalty levied in the case of premature withdrawal of Fixed Deposit?
Yes, premature withdrawal penalty is applicable on Fixed Deposits which is: