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Money matters

Eligibility to apply a Fixed Deposit Account

Add significantly to your savings with a fixed deposit account from YES BANK. Any individual or entity under the following categories can apply for a fixed deposit account with YES BANK with the following documents:

  • Resident Individuals can open an account using a valid identity proof and address proof.

  • Hindu Undivided Family can open an account with valid identity proof and address proof of person operating the account.

  • Companies, Partnership Firms or Sole Proprietorships can open an account using Partnership Deed and a Letter from the partners that allows and approves the representative to open and operate the account in the name of the company.

  • Family Trusts can open an account with a copy of the Trust Deed, registration certificate, and resolution of trustees authorising the representative to open and operate the account for the trust.

  • Associations, Clubs, and Societies can open an account with the copy of the by-laws of the Association or Club and a copy of the resolution authorising the concerned members to open and operate the fixed deposit account at YES BANK for the association, club or society.

Additional Information

  • Any individual opening the fixed deposit account is also required to name a nominee who will authorise the appropriate use of the assets in case of any unfortunate or untimely event.

  • The nominee will act as the custodian of the account and has no rights over the money unless the nominee inherits it.

  • The minimum amount required to open a fixed deposit account at YES BANK is INR 10,000.

  • You can link your YES BANK Savings account with your fixed deposit to make transferring money to your fixed deposit easier.

  • No penalty on premature withdrawal.

If you want to discuss what kind of fixed deposit account would suit your financial needs and goals best, you can contact us at 1800 2000 (toll-free), or visit your nearest YES BANK branch to speak to your personal banker.

 

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