Why does anyone open a savings account? For most people, it is a mean of transacting online mode. For many people managing money is a challenging task and saving accounts can help them be more organized with their money and Money saved is money earned.
Having saving accounts is always a good idea but opening a savings account that will help you save more is a tricky thing to understand and there are many things that you need to keep in mind when opening a savings account::
- No minimum opening deposit
It is important to understand the type of savings account you are opening has any kind of minimum account balance or any kind of penalty associated in the case of non-maintenance.
- Interest Rates
Have detail information of the interest rate offered in each type of savings account by the bank. Even after the RBI deregulated interest rate in 2011, most of the banks are still offering low-interest rate on savings account.
- Service charges / ancillary fees
Now, this is interesting to know if the bank charges you to send account updates on your phone or more for the cheque-book after the minimum free quota.
- Debit-card deals
There are many banks that charge you if your swipe cards from different bank ATMs or even charge you after few swipes in their own ATMs. There are thresholds for different cardholders as well.
- Doorstep banking facilities
Now for convenience and also the hectic schedule one has, banks have started giving such facility to their account holders. Do a thorough check for the type of saving account for this facility.
- Quality of service
Association with a bank doesn’t mean associated with a person or only one branch. So there needs to be a consistency in service throughout all branches and they should be able to help you even through call or online.
YES BANK offers Savings Accounts that have been designed specifically to take care of your banking and savings requirements. Our innovative financial solutions, backed by expert advice, will provide you with truly rewarding banking experience.
There are types of savings account with interest options provided by YES BANK:
|
A/C Type |
Customizable Savings A/C |
Savings Value |
Smart Salary Platinum |
Smart Salary Exclusive |
Smart Salary Advantage |
|
Features |
- Protect the customer against unwarranted charges. - Maximum tax exemption benefit - Balance Non-Maintenance Charges: None |
- Tax-free interest income up to Rs. 10,000 - Options of choosing between a range of cards - Exclusive benefits and Offers on YES BANK products |
-Zero balance savings account -Tax-free interest income up to Rs. 10,000 -Free Personal Accident Death Cover of Rs. 15 Lacs |
-Minimum Rs. 5000 balance required -Tax-free interest income up to Rs. 10,000 on savings account -Personal Accident Insurance Cover of Rs. 5 Lacs
|
-Zero balance savings account -Tax-free interest income up to Rs. 10,000 on savings account -Personal Accident Insurance Cover of Rs. 2 Lacs
|
*With effect from September 1, 2017 interest rate of 5% p.a. for balances up to INR 1 lakh, 6% p.a. for balances of INR 1 lakh up to INR 1 Crore, 6.25% p.a. is applicable for balances of INR 1 Crore up to INR 100 Cr. For amounts greater than INR 100 Crore, please contact the branch or your designated Relationship Manager. Rates are subject to change at the sole discretion of YES BANK. Conditions apply
