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Press Release

YES BANK unlocks a full service digital Savings Account; introduces video KYC facility

Digital Savings account comes power packed with a ‘zero contact’, paperless video KYC feature

  • Now consumers can open an account digitally through e-KYC, video verification and get a virtual Debit card – digital is with you all the way

  • Higher Interest Rates

Mumbai, June 26, 2020: YES BANK announced the launch of a full service digital Savings Account in its endeavour to bring the Bank closer to citizens while ensuring physical distancing, thereby eliminating the need for a branch visit, physical documentation or any in-person interaction, in line with the Bank’s commitment to support citizens and communities while the country starts unlocking in phases. With this launch, the Bank aims to embrace inclusivity by widening its reach to cater to a diverse customer base, especially in tier 1 and tier 2 cities, in line with the Bank’s strategy of building a transformed ‘Digital Bank’.

Offering a completely contactless and paperless account opening experience, YES BANK’s digital savings account comes with a virtual Debit Card, unlocking over 100 features on mobile through YES Mobile and web including transactions, fund transfers and online shopping using the virtual Debit Card.  All that a customer needs to do is initiate an e-KYC by clicking on the link, https://www.yesbank.in/personal-banking/yes-individual/savings-account/digital-savings-account, enter mobile number, Aadhaar OTP and PAN card details in the online form, followed by a video KYC.

Key features of Digital Savings account:

  • Digital Account opening using Aadhaar card

  • Virtual Debit card which can be used for online transactions

  • Free NEFT, RTGS and UPI facility

  • Mobile banking, Net banking and Phone banking facilities

  • Instant beneficiary and biller registration

  • Avail offers on Debit Card and earn reward points for Digital Savings Account

  • Higher interest rate of 6% p.a*

  • Average monthly balance of INR 10,000 for savings account

  • Zero average monthly balance for Corporate salary accounts

Commenting on the launch, Rajan Pental, Global Retail Head, YES BANK, said “The world as we know it has transformed, wherein we are now adjusting to a new way of life, a new world which has brought us socially even closer while we continue to remain physically distant. The connecting factor binding us all is digital – video calls with family & friends, virtual workouts, e-learning and working from home, among others. Leveraging on YES BANK’s strong technology capabilities along with a higher interest rate, we are geared to serve customers in this new world with a digital solution that brings the Bank to them wherever they are, right at their fingertips.”

*Applicable on INR 10 lakh and above.

About YES BANK

YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.

YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank’s website at http://www.yesbank.in/  

 

For media queries, please contact:

YES BANK
Swati Singh
Email: swati.singh6@yesbank.in

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