As parents, you wish you could bring the world to your dear children. You want to provide adequate financial security for your children at all costs. Hence, you keep searching for methods to be able to protect their future. For that purpose, parents have conventionally relied on fixed deposits (FDs) to fund the future expenses, education and the dreams of their kids.
A fixed deposit is a safe and simple investment scheme offered by banks and non-banking finance companies. FDs offer a direct and guaranteed return on the investment, without affecting the basic principal. Since FDs are not impacted by market fluctuations, they are a great way to securely boost savings. With assured returns and steady capital growth, FDs are an ideal investment choice for securing your child’s future.
Fixed Deposits with YES BANK
YES BANK aims to be a partner in your efforts to save for the future of your children. YES BANK’s FDs are very flexible and can be chosen per your convenience of schemes and deposit amounts. Moreover, you have the freedom to choose a tenure ranging from 7 days to 10 years.
By safeguarding your savings in FDs, you will be able to accrue attractive interests, which can be helpful for your kids. The bank also provides higher returns for senior citizens. Along with secured and high returns, YES BANK also allows you to maintain your funds in accessible units. This implies that you do not need to break the entire deposit in case of fund requirements. Thus, your savings will earn better interest.
With best-in-class interest rates and features, YES BANK also provides easy liquidity. You can opt for a sweep-in facility, which provides monies in your Savings or Current account. However, this is applicable for FDs worth less than two crores.
Attractive features and benefits of YES BANK’s Fixed Deposits
Auto-renewal: YES BANK offers an auto-renewal option for your FD, in case you forget to provide instructions on the expiry of the term. The sum accrued is conveniently reinvested in the same scheme when your tenure expires.
Overdraft facility: YES BANK offers overdraft facility against your Fixed Deposits at competitive rates. You can borrow up to 90% of the amount of your account. This increases your liquidity without requiring you to break your FD.
Tax-savings: YES BANK’s five-year tax-free FD allows you to save on your tax liability while earning the same interest as regular deposits.
Enhanced reach: YES BANK’s inter-city facilities allow you to the bank at any of its branches in India.
Superior interest rates: With YES BANK, you can earn a superior interest rate on your savings. This could help you maintain a steady and dependable source of income for your kids.
Flexibility: You can choose a tenure, ranging from 7 days to 10 years, that best matches your financial goal. Moreover, easy withdrawals and flexible interest pay options (compounded or credited) enhance your liquidity. Additionally, you can break your FD even before the expiry of the term, without incurring any penalties.
The application process of YES BANK’s Fixed Deposits
You can apply for YES BANK’s FD online or via mobile or phone banking. Alternatively, you could choose to visit the nearest branch of YES BANK for personal assistance. The procedure to open a fixed deposit with YES BANK is simple and quick. You need only a valid address proof, an identity document and a completed application form.
Despite the numerous investment opportunities, fixed deposits have remained the numerouno choice for parents, when it comes to the future of the children. With YES BANK’s fixed deposits, you can be sure of steady growth, utmost safety and assurance of funds for your children’s future.