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Fixed Deposit

Fixed Deposit

Type of Customer
Tenure1
FD Option
Deposit Period
Deposit Amount

*Interest rates are subject to change at the sole discretion of the Bank
**The above maturity amount & date are tentative & subject to applicable tax deductions
***Kindly make sure to verify all details while placing the Fixed Deposit

Type of Customer
Tenure1
FD Option
Deposit Period
Deposit Amount

*Interest rates are subject to change at the sole discretion of the Bank
**The above maturity amount & date are tentative & subject to applicable tax deductions
***Kindly make sure to verify all details while placing the Fixed Deposit

Option 1
Option 2

Fixed Deposit Interest Rates-

RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)**

Period

Rates for < 2 Crore w.e.f 4th January 2022

Regular

Senior Citizen***

Interest Rates

Annualised Yield^

Interest Rates

Annualised Yield^

7 to 14 days

3.25%

3.25%

3.75%

3.75%

15 to 45 days

3.50%

3.50%

4.00%

4.00%

46 to 90 days

4.00%

4.00%

4.50%

4.50%

3 months to < 6 months

4.50%

4.50%

5.00%

5.00%

6 months to < 9 months

4.75%

4.78%

5.25%

5.28%

9 months to < 1 year

5.00%

5.06%

5.50%

5.58%

1 Year < 18 months

5.75%

5.88%

6.25%

6.40%

18 Months to < 3 years

6.00%

6.14%

6.50%

6.66%

3 Years to <= 10 years

6.25%

6.40%

7.00%

7.19%

**Interest rates are subject to change at the sole discretion of the Bank.

***Senior Citizen rates are applicable only for Domestic Deposits

^Annualized yields published, compounded quarterly.

NOTES:

 

  1. For reference purpose interest rate slabs considered are 3 months = 91 days; 6 months = 181 days; 9 months =272 days

  2. Minimum tenure for a FD is 7 days and maximum is 10 years

  3. The minimum amount for creating an FD is INR. 10,000/-

  4. Actual number of days will be calculated at the time of booking

  5. For less than 1 year deposit, please mention tenure in days

  6. Reinvestment is available for minimum tenure of 6 months 1 day (actual number of days in the month)

  7. For rates more than INR. 5Cr, Kindly visit nearest branch

  8. For Fixed Deposit Rates (INR. 2 Cr < INR. 5 Cr) please click here.

YES BANK Fixed deposits offers double benefits with a single investment. We not only offer best in class FD rates but also YES Rewardz Loyalty points for booking an FD.

Whats more? You can book FDs from the comfort of your home using our digital channels like YES Online, YES Service Portal, YES Robot, YES Mobile & WhatsApp.

Key Features:

  1. Tenure ranging from 7 Days to 10 Years

  2. Assured interest rates, independent of market

  3. Sweep-in & Sweep-out facility available

  4. FD can be pre-matured in multiple of Rs 1 with sweep-in facility

  5. Get Overdraft facility up to 90% of your Principal Fixed Deposit amount

  6. Re-investment FD option to get quarterly compounding interest

  7. Get regular income with monthly/quarterly payout options

  8. Option to get FD auto-renewed, so you need not worry for tracking the maturity date

At YES BANK, we understand your need to get better returns along with security & convenience. Our Fixed Deposits not only offer a higher interest rate for senior citizens with assured returns but also gives you the convenience of booking an FD from the comfort of your home through our digital channels like YES ONLINE, YES Service Portal, YES Mobile, YES ROBOT & WhatsApp Banking.

Also to meet your emergency requirements, customers can avail Overdraft facility against Fixed Deposit up to 90% of principal at competitive rate.

Key Features:

  • Tenure ranging from 7 Days to less than 3 Years

  • Additional mark up on regular interest rate of 0.50% for senior citizens

  • Assured interest rates, independent of market

  • Sweep-in & Sweep-out facility available

  • FD can be pre-matured in multiple of Rs 1 with sweep-in facility

  • Get Overdraft facility up to 90% of your Principal Fixed Deposit amount

  • Re-investment FD option to get quarterly compounding interest

  • Get regular income with monthly/quarterly payout options

  • Option to get FD auto-renewed, so you need not worry for tracking the maturity date

  • Additional mark-up for senior citizens available only on Domestic deposits

At YES BANK, we understand your need to get better returns along with security & convenience. Our Fixed Deposits not only offer a higher interest rate for senior citizens with assured returns but also gives you the convenience of booking an FD from the comfort of your home through our digital channels like YES ONLINE, YES Service Portal, YES Mobile, YES ROBOT & WhatsApp Banking. That’s not all! For deposits of 3 Years & above we offer even higher benefit

Also to meet your emergency requirements, customers can avail Overdraft facility against Fixed Deposit up to 90% of principal at competitive rate.

Key Features:

  • Tenure ranging from 3 Years to 10 Years

  • Additional mark up on regular interest rate of 0.75% for senior citizens

  • Assured interest rates, independent of market

  • Sweep-in & Sweep-out facility available

  • FD can be pre-matured in multiple of Rs 1 with sweep-in facility

  • Get Overdraft facility up to 90% of your Principal Fixed Deposit amount

  • Re-investment FD option to get quarterly compounding interest

  • Get regular income with monthly/quarterly payout options

  • Option to get FD auto-renewed, so you need not worry for tracking the maturity date

  • Additional mark-up for senior citizens available only on Domestic deposits

Login now or visit your nearest YES Bank branch to avail the higher interest rate.

Enjoy triple benefits with a single investment with Tax Saver Fixed Deposits. Enjoy benefits of best in class interest rates, tax exemption & earn YES Rewardz Points on booking Tax Saver FD.

Whats more? You can book FDs from the comfort of your home using our digital channels like YES Online, YES Mobile.

Key Features:

  1. Avail Tax exemption under section 80C of Income Tax Act up to INR 1,50,000 per FY

  2. Tenure: 5 Years with lock-in for entire tenure

  3. Minimum amount of INR10,000 & Maximum of INR. 1,50,000 per FY

  4. Assured interest rates, independent of market

  5. Option to avail quarterly payout or re-investment

Important Notes

  • TDS:As per section 194A of the Income Tax Act 1961, TDS at the applicable rate shall be deducted, if the interest exceeds the prescribed limit ( per Customer) as mentioned in the Income Tax Act, 1961 and Income Tax Rules as amended from time to time . The existing TDS rates and prescribed limits would be displayed by the Bank on its website.TDS will be as per Income Tax rules, currently TDS is deducted when interest payable or reinvested per customer exceeds INR 40,000/- in a financial year and for senior citizen interest payable or reinvested per customer exceeds INR 50,000/- in a financial year

  • Interest on deposits is payable either quarterly or compounded quarterly (i.e., re-investment of interest) or monthly at a discounted value at the option of the depositor

  • If the Customer prematurely withdraws the deposit, the interest rate prevailing at the date of deposit, for the period for which deposit was with the Bank shall be payable (subject to applicable penalties on the date of booking of this deposit)

  • For deposits with tenure of below 6 months 1 day, the interest is calculated at maturity as Simple Interest*

  • As per changes in the Finance Bill 2015, effective 1st June 2015, TDS on Term Deposits in now applicable at Bank level instead of branch level.

  • As per section 206AA introduced by Finance (No. 2) Act, 2009 w.e.f. 01.04.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20% (as against 10% which is the existing TDS rate) in case of Domestic deposits and 30.90% in case of NRO deposits

  • TDS, as applicable, will be deducted on interest as per the provisions of Income Tax Act. In the event, the interest accrued at the time of deduction of TDS is not sufficient for recovering the applicable TDS, the amount of TDS can be deducted from the Principal Amount.

  • The interest so paid shall be rounded off to the nearest rupee, i.e. fraction of fifty paise and above shall be rounded off to the nearest higher rupee

  • In the absence of PAN, Form 15G/H and other exemption certificates will be invalid even if submitted & penal TDS will be applicable

  • Customer can submit form 15G/H to avail benefit of TDS exemption. In case the amount in 15G/H exceeds the applicable minimum tax exemption limit, the form would not be valid

  • Please visit your nearest YES BANK branch to submit or confirm updation of your PAN with the bank

  • If the Customer prematurely withdraws the deposit, the interest rate prevailing at the date of deposit, for the period for which deposit was with the Bank shall be payable. In case of Domestic & NRO deposits no interest will be paid if the deposit is prematurely withdrawn within 7 days of the date of booking. In case of NRE/FCNR deposit no interest will be paid if the NRE/FCNR Deposit is prematurely withdrawn before the completion of 1 year from the date of booking

 

As per section 206AB of the Income Tax Act 1961, w.e.f 1st July 2021, a person shall be levied higher TDS rate if they have:​​​​​​​

  1. Not filed Income Tax returns for the last two years; and

  2. Aggregate TDS/TCS credit of INR 50,000 or more in each of the two years.

The TDS rate levied would be the highest of:

  1. Twice the rate specified in the relevant provision of the Income Tax Act; or

  2. Twice the rate in force

  3. The rate of five per cent

 

Premature Penalty on Fixed Deposits:

With effect from 5th July, 2019 Premature Withdrawal Penalty shall be applicable when a FD is either prematurely withdrawn or closed after it has run for a period of 182 days and above.

 

Penalty Structure for Fixed Deposits with value less than 5 Cr:

Tenure of Fixed Deposit (Completed)

Penalty

Less than equal to 181 days

Nil

182 days and above

0.50%

Premature withdrawal penalty shall be applicable on all fresh and auto renewed FDs booked on/ after 5th July, 2019 for fixed deposit value less than INR 5 Crs.

 

Key Points:

  • Premat penalty will be applicable to all types of customer. (eg: Individual, Non Individual, Senior Citizen, Staff etc.)

  • Premature FD withdrawal penalty interest will be charged for partial as well as full withdrawal include sweep in cases.

  • Premature penalty will be applicable as per above regime for YES BANK staff who booked/renewed FD’s for period 5th July 19 till 9th May 21. Nil premature penalty will be applicable for YES BANK staff FD booked/renewed on and after 10th May 21.

  • For value INR. < 5 Cr, Penalty for premature withdrawal will not be applicable on FDs booked/prematurely withdrawn within a tenure 7-181 days.

  • Penalty for premature withdrawal is not applicable on FCNR and RFC deposits.

  • For values >= INR. 5 Cr existing penalty structure shall continue at 0.25% for all tenure & value buckets.

Q. What is the minimum & maximum tenure for an Fixed Deposit (FD)?

Minimum tenure for an FD is 7 days and maximum is 10 years.

 

Q. Is there any minimum amount for booking an Fixed Deposit?

Yes, the minimum amount for booking an FD is INR. 10000.

 

Q. Is there any special rate benefit for senior citizens?

Resident Senior Citizen Fixed Deposits earn additional mark up vis-à-vis other customers.

 

Q. Is the value date and maturity date included for interest calculation?

Yes, interest is calculated taking into consideration both the value date as well as the maturity date

 

Q. What are the interest frequency options available to the customer?

Customer can opt for Monthly, Quarterly or at maturity interest payout (for FD with less than 6 months tenure).

 

Q. Is there any minimum tenure for reinvestment?

The minimum tenure for reinvestment is 6 months and 1 day.

 

Q. If the Fixed Deposit is booked for 181 days does it imply 6 months 1 day? Can Reinvestment be offered?

6 Months 1 Day is calculated on the actual number of days starting from the date of booking.

 

Q. What are the modes through which a customer can book a Fixed Deposit?

Customer can book Fixed deposit of less than INR 5 crore through NetBanking, Phone Banking, YES ROBOT, WhatsApp and through a YES BANK Branch for any amount.

 

Q. What is Sweep- in facility?

With Sweep-in Facility you can link your existing Fixed Deposit to your Savings or Current Account. In case of a shortfall in the account while processing a debit instruction, the deficit is taken care of by withdrawing an equivalent value from your Fixed Deposit. The deposit is broken in units of INR. 1/-, thereby giving you the convenience of honouring your payments processed with ease ensuring complete peace of mind.

Note: Sweep in facility is not available for Tax Saver.

 

Q. Is there any limit on Sweep- in facility?

The maximum amount of a single Fixed Deposit which can be linked to a Savings account through the Sweep-in facility should be less than INR 1 Crore.

 

Q. In case of multiple Fixed deposits linked through sweep-in facility, how are they withdrawn?

In case of more than one deposit linked to your Savings account for sweep-in facility, the system shall sweep in funds from the deposit which was last linked to the Savings Account on a LIFO (Last In First Out) basis.

 

Q. How can a customer opt for a sweep-in facility?

Customer can opt for sweep-in facility, either at the time of booking the FD or by submitting the request at any of the YES BANK branches.

 

Q. When is the sweep-in facility activated?

If customer books the FD and opts for sweep-in facility, it is activated at the time of creating the FD, however in case the request is placed at the branch post booking of FD then the same is processed within 2 working days.

 

Q. Is Form 15 G/H required at the time of booking of the Fixed Deposit?

Customer can submit the form 15 G/H form (if applicable) at the time of fixed deposit booking or post fixed deposit booked. 15G/H benefits would be considered from the date of submission only.

 

Q. In what conditions is the form 15G/15H required to be submitted?

Customer can submit Form 15 G (or 15H for senior citizen) to their bank to avoid paying tax on FDs. This condition applies only if you meet certain conditions viz;

- HUF or Individual customers

- Indian national customers

- Annual interest income should be lower than the minimum exemption limit for the financial year

 

Q. Can customer enable sweep-in facility through Net Banking for joint account holders?

Customer needs to visit a YES BANK branch in order to enable sweep-in facility

 

Q. Is Overdraft facility available on Fixed deposit?

Yes, minimum fixed deposit amount of INR 10,000 for a minimum tenure of 30 days

 

Q. Whom do I contact, in case I do not receive my FD advice?

You may contact our contact centre or write back to yestouch@yesbank.in or visit the nearest YES BANK Branch.

 

Q. Can I change my Maturity instructions? If yes then how and through which channel(s)?

You may visit our nearest YES BANK branch in order to change your maturity instructions. Individual customers with single holding pattern (with value less than INR 2 Crs) may also call our customer care on toll-free number 1800 1200 for the same.

 

Q. Does YES BANK allow sweep-out from FD’s to Savings/Current account

Yes, Sweep-out can be availed from link saving and current account.

 

Q. When is an FD receipt issued?

FD Receipt is issued only in case of TAX Saver FD, in all other cases a FD Advice is issued.

 

Q. Can I close a FD on a premature basis on the same day an FD is booked?

You may submit a FD premature closure request on the following day, i.e. the day after an FD is booked.

 

Q. What is the interest applicable on Fixed Deposit (FD) for premature closure within 7 days from the date of opening an FD?

In the event a FD is prematurely withdrawn within the period of 7 days from the date of Deposit, interest is not paid. No interest is paid in case NRE Deposit is closed prior to completion of 12 months tenure. Premature closure charges are also not applicable in such cases.

 

Q. Is TDS deducted on fixed deposits?

If your total interest earnings from fixed deposit investments exceeds the minimum threshold amount, the bank will deduct TDS (Tax Deductible at Source) as per the Income Tax Act, 1961. NRE FDs are exempt from TDS.

 

Q. When do I become liable for TDS?

You become liable for TDS* when the aggregate interest you earn for all deposits held under a particular customer ID is greater than INR. 40,000/- (INR 50,000 in case of senior citizen) in a financial year.

*Note: TDS is not applicable on NRE deposits.

 

Q. When is TDS deducted?

TDS is deducted every time the Bank pays/re-invests interest during the financial year in accordance with the provisions of Income Tax Act as amended from time to time.

 

Q. Can TDS be recovered from principal of deposit in any case?

In case interest amount is insufficient to recover TDS, the same is recovered from the principal of the deposit.

 

Q. Can the maturity amount of the deposit reduce due to TDS?

Yes, in case of reinvestment deposits, the interest reinvested is post TDS recovery.


Q. When and how does the Bank issue a TDS Certificate?

TDS certificates in Form 16A (if applicable) will be sent by the Bank on your registered email ID if the same is available. In case registered email ID is not available then the same will be sent by post/ courier on your registered address. TDS certificates can also be downloaded by logging into your net banking account.

 

Q. What is the minimum tenure for a FCNR deposit?

Minimum tenure for a FCNR deposit is 1 year.

 

Q. What is the interest payout frequency for FCNR deposits?

Interest on FCNR deposits is compounded & paid half yearly.

 

Q. Is TDS applicable on FCNR deposits?

No, FCNR deposits are exempt from taxes in India.

 

Q. Can a forward be booked against FCNR deposits?

Yes, a forward contract can be booked against FCNR deposits with a Premium Rupee Plan. This is an attractive opportunity to earn additional yield over & above FCNR deposit & NRE FD rates & entail maturity proceeds in Indian Rupees.

 

Q. Are FCNR maturity proceeds freely repatriable?

Yes, FCNR principal & interest are both freely repatriable.

 

Q. Is premature withdrawal permitted for FCNR deposits?

Premature withdrawal is allowed, however no interest shall be paid out for deposits prematurely withdrawn before 1 year.

Fixed Deposit

Type of Customer
Tenure1
FD Option
Deposit Period
Deposit Amount

*Interest rates are subject to change at the sole discretion of the Bank
**The above maturity amount & date are tentative & subject to applicable tax deductions
***Kindly make sure to verify all details while placing the Fixed Deposit

Type of Customer
Tenure1
FD Option
Deposit Period
Deposit Amount

*Interest rates are subject to change at the sole discretion of the Bank
**The above maturity amount & date are tentative & subject to applicable tax deductions
***Kindly make sure to verify all details while placing the Fixed Deposit

Option 1
Option 2
Tenure
Ranges

Wide range of tenures ranging from 7 days to 10 years

Easy
Liquidity

Customers can opt for Sweep-in facility which offers liquidity of monies in their Savings/ Current accounts (on Fixed Deposit with value less than 1 Crore)