Yes Bank revises fixed deposit rates

Yes Bank offers multiple fixed deposit (FD) schemes to both regular and senior citizens. The bank provides fixed deposit schemes for a tenure starting from a period of 7 days (short term) to 10 years (long-term). The Bank has revised the interest rate on its term deposits effective 3 November 2021. After the latest revision, Yes Bank offers an interest rate of 3.25% on deposits maturing in seven to fourteen days, 3.5% on 15 to 45 days, and 4% on 46 to 90 days FDs. 

Yes Bank gives 4.5%, 5% on term deposits maturing in 3 months to less than 6 months and 6 months to less than 9 months respectively.

For FDs with a maturity period of 9 months to less than 1 year, the Bank gives an interest rate of 5.25%.

Term deposits maturing in 1 year to less than 3 years will fetch an interest rate of 6%. FDs maturing in 3 years to less than or equal to 10 years will give 6.25%.

Yes Bank latest FD rates (below ₹2 crores) for the general public effective 3 November 2021:

7 to 14 days 3.25%

15 to 45 days 3.50%

46 to 90 days 4%

3 months to < 6 months 4.50%

6 months to < 9 months 5%

9 months to < 1 Year 5.25%

1 Year to < 3 years 6.00%

3 Years to <= 10 years 6.25%

Yes Bank latest FD rates (below ₹2 crore) for senior citizens-

Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3.75% to 7.% on FDs maturing in 7 days to 10 years.

Earlier, the Bank had revised the interest rate on its term deposits on 3 June 2021.

Advantages of FD: 

A Fixed Deposit is a good investment option for those who wish to set aside a fixed sum of money for the future and don’t need to use the same at present.

Fixed deposits offer better interest rates v/s Saving Accounts and are safe (no – risk investment) when compared to market linked investments.

Interest rates on fixed deposits increase with longer tenures and higher deposit amounts.

Source : livemint.com