The YES BANK Recurring Deposit is designed to help you prepare for the future. It enables you to make a financial provision by investing a fixed amount every month for a defined period. At the end of pre-defined period you are paid back the lump sum including the principal and interest.
Features of YES Recurring Deposits:
• Easy way of paying monthly installment by providing a one-time standing instruction from your YES BANK Savings Account
• Interest rates similar to Fixed Deposit rates
• Senior citizens get an extra benefit in the interest rates (0.75% extra)
• Minimum monthly installment of Rs 1,000 and in multiples of Rs 100 thereof
• No upper cap on the maximum amount of monthly installment
• Minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years
• No TDS for interest on Recurring Deposits
Goal-based investment into Recurring Deposit:
Investing the right amount regularly can help you achieve your goals. Goal Based Savings ensure that you have the money to meet your future happiness - whether it is children’s education or marriage, paying off an existing loan, a wish to purchase a car, house or a gift for your spouse, travelling abroad or any other goal.
• Calculate the monthly installment amount required to achieve your financial goals based on the target amount, time horizon, inflation and prevailing interest rates
• Invest comfortably in installments instead of lump sum
• Track regularly how much you are closer to achieving your goal
If you are an existing YES BANK Savings Accountholder, you can log on to your NetBanking Account and calculate the exact amount you would need to achieve your goal.
Eligibility:
Resident Individuals with a YES BANK Savings Account
Interest Rates:
Interest Rates for installments upto Rs 14,99,900 per month.
|
Rates effective from 3rd October 2012* |
|
Period |
Interest Rate
(per annum) |
**Senior Citizen Rate
(per annum) |
|
6 Months |
8.25% |
9.00% |
|
9 Months |
8.75% |
9.50% |
|
12 Months |
9.00% |
9.75% |
|
15 Months |
9.00% |
9.75% |
|
18 Months |
9.00% |
9.75% |
|
24 Months |
9.00% |
9.75% |
|
36 Months |
8.75% |
9.50% |
|
39 Months |
8.75% |
9.50% |
|
48 Months |
8.75% |
9.50% |
|
60 Months |
8.75% |
9.50% |
|
90 Months |
8.75% |
9.50% |
|
120 Months |
8.75% |
9.50% |
*Rates are subject to change at the sole discretion of YES BANK. The applicable interest rates will be given based on the date and time of receipt of the funds by the bank.
|
| **Only Senior Citizens are eligible for higher rate of interest. |
How to apply:
• To open a Recurring Deposit Account and Goal Based Savings, please visit your nearest YES BANK branch.
• If you are an existing YES BANK Savings Account holder, you can open a Recurring Deposit or Goal based Savings by logging on to your NetBanking Account (installments up to Rs. 14,99,900 per month).
