Yes Bank disappointed crores of its customers, reduced the interest rate on FD, check details
Business News Desk,Private sector bank Yes Bank has shocked crores of its customers. Yes Bank has reduced the interest rates on Fixed Deposit. Yes Bank has reduced the interest rates of some fixed deposits (FD) by 25 basis points (bps). These new interest rates have come into effect from 5 November 2024. Now FD interest rates for general customers range from 3.25% to 7.75%, while for senior citizens these rates range from 3.75% to 8.25%. The highest interest rate is being given on FD of 18 months, which is 7.75% for general customers and 8.25% for senior citizens. The interest rate on 18 month FD has been reduced to 7.75% from earlier 8%, a reduction of 25 bps.
Yes Bank FD
The bank has increased the interest rates on FDs with certain periods of less than Rs 2 crore. Yes Bank has implemented these rates from May 30, 2024. Yes Bank is now offering interest rates between 3.25% to 7.75% to general citizens and 3.75% to 8.25% to senior citizens on FDs maturing in seven days to ten years.
Yes Bank FD rules
The minimum amount to start an FD should be Rs 10,000. Senior citizens get 0.50% additional interest on FDs of less than 3 years and 0.75% additional interest on FDs of 3 years or more, which is applicable on FDs of less than Rs 5 crore.
Penalty for premature withdrawal of FD
There is a penalty for premature withdrawal of FD, which will be applicable on FDs of less than Rs 5 crore.
FD Rates (Yes Bank FD Rates)
7 days to 14 days: 3.25 percent (General Public)/ 3.75 percent (Senior Citizens)
15 days to 45 days: 3.70 percent (General Public)/ 4.20 percent (Senior Citizens)
46 days to 90 days: 4.10 percent (General Public)/ 4.60 percent (Senior Citizens)
91 days to 120 days: 4.75 percent (General Public)/ 5.25 percent (Senior Citizens)
121 days to 180 days: 5% (General Public)/ 5.50% (Senior Citizens)
181 days to 271 days: 6.10 percent (General Public)/ 6.60 percent (Senior Citizens)
272 days to less than 1 year: 6.35 percent (General Public)/ 6.85 percent (Senior Citizens)
One year: 7.25 percent (General Public)/ 7.75 percent (Senior Citizens)
1 year to 18 months: 7.50 percent (General Public)/ 8 percent (Senior Citizens)
18 months: 7.75% (General Public)/ 8.25% (Senior Citizens)
18 months to less than 24 months: 7.75 percent (General Public)/ 8.25 percent (Senior Citizens)
24 months 1 day to less than 36 months: 7.25 percent (General Public) / 7.75 percent (Senior Citizens)
36 months to 60 months: 7.25 percent (General Public)/ 7.75 percent (Senior Citizens).
60 months: 7.25 percent (General Public)/ 8 percent (Senior Citizens)
60 months 1 day to 120 months: 7% (General Public)/ 7.50% (Senior Citizens)
