 "YES Bank")
YES Bank has raised fixed deposit (FD) interest rates by up to 25 basis points (bps) for specific tenures on deposits under Rs 2 crore.
Post this adjustment, regular citizens can now avail of interest rates ranging from 3.25 per cent to 7.75 per cent, while senior citizens are offered rates between 3.75 per cent and 8.25 per cent. These revised interest rates are effective from November 21, 2023.
Notably, last month, the private lender slashed its FD rates by 25 bps on selected tenure.
Here is a look at the latest FD interest rate of YES Bank
According to YES Bank’s website, for term deposits maturing in seven to 14 days, the bank now offers a 3.25 per cent interest rate, while those maturing in 15 to 45 days are eligible for a 3.70 per cent interest rate.
 "Chart")
More From This Section
For longer tenures, deposits maturing in 272 days to one year will earn a 6.35 per cent interest rate, while those maturing in one year will receive a 7.25 per cent rate. For deposits maturing in one year to less than 18 months, the interest rate is 7.50 per cent.
The highest interest rate of 7.50 per cent has been increased to 7.75 per cent for FDs maturing in 18 months to less than 24 months.
Senior citizen FD interest rate varies between offers of 3.75 per cent to 8.25 per cent. The highest interest rate of 8.25 per cent is offered on a tenure of 18 months to less than 24 months.
According to the bank website, “Senior Citizens get an additional interest rate of 0.50 per cent for tenure less than 3 years and 0.75 per cent for tenure of 3 years and above for FD valuing less than 5 Crores. This is over and above the regular FD rates.”
Key points to note before opting for YES Bank FD
The minimum amount for booking a fixed deposit (FD) with YES Bank is Rs 10,000. Interest is calculated from the value date to the maturity date. Customers can choose monthly, quarterly, or at-maturity interest payouts for FDs with less than a six-month tenure.
A premature penalty applies to all customers, with different rules for Yes Bank staff and senior citizens based on specific periods.
For FD withdrawals of values equal to or greater than Rs 5 crore, the existing penalty structure of 0.25 per cent remains applicable across all tenures and value buckets.
Interest rate offered by other banks
As of now, most private and public sector banks are offering interest rates ranging between 7 per cent and 8.50 per cent on fixed deposits, while certain small finance banks provide interest rates as high as 9 per cent on FDs.
Below is a table compiled by Paisabazaar of the highest interest rates offered by banks as of November 15, 2023:
A premature penalty applies to all customers, with different rules for Yes Bank staff and senior citizens based on specific periods.
For FD withdrawals of values equal to or greater than Rs 5 crore, the existing penalty structure of 0.25 per cent remains applicable across all tenures and value buckets.
Interest rate offered by other banks
As of now, most private and public sector banks are offering interest rates ranging between 7 per cent and 8.50 per cent on fixed deposits, while certain small finance banks provide interest rates as high as 9 per cent on FDs.
Below is a table compiled by Paisabazaar of the highest interest rates offered by banks as of November 15, 2023:
