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Fixed Deposit Schemes

Fixed Deposit

Fixed Deposit schemes that secure your savings & earn higher returns your future

Fixed Deposit

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A steady source of income is imperative at all points in your life. At YES BANK, we understand this need for security. Our secure Fixed Deposits provide you greater earnings with the flexibility of maintaining your funds in accessible units; therefore, you do not need to break the entire deposit. Enjoy this privilege in different ways as YES BANK offers you a range of Fixed Deposit schemes that give you a good rate of interest, thereby providing you with a strong sense of security.

Tax Saver Deposits - Five years tax-free Fixed Deposit (Interest Rates same as Regular Fixed Deposits)

Important Points:

  • 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

  • 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

  • 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

  • Fixed Deposits with value of less than Rs. 1 Crore can be booked on our Net Banking portal. For Fixed Deposit with value of more than or equal to Rs. 1 Crore, please visit our Branch or speak to your Financial Advisor

 

Fixed Deposit Interest Rates--

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

Period

Rates for < 1 Crore w.e.f 5th June 2018

Regular

Senior Citizen***

Interest Rates

Annualised Yield^

Interest Rates

Annualised Yield^

7 to 45 days

5.00%

5.00%

5.50%

5.50%

46 to 90 days

7.00%

7.00%

7.50%

7.50%

3 months to < 6 months

6.90%

6.90%

7.40%

7.40%

6 months to < 9 months

6.70%

6.76%

7.20%

7.26%

9 months to < 1 Year

6.70%

6.81%

7.20%

7.33%

1 Years to <= 10 years* 7.10% 7.29% 7.60% 7.82%

 

*Special Rates

12 Months 10 Days to
12 Months 20 Days

7.40%

7.61%

7.90%

8.14%

18 Months 8 Days to
18 Months 18 Days

7.50%

7.71%

8.00%

8.24%

36 Months 10 Days to
36 Months 20 Days

7.25%

7.45%

7.75%

7.98%

 

** 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.

Note:

  1. For reference purpose interest rate slabs considered are 3 months = 91 days; 6 months = 181 days; 9 months =272 days
  2. Actual number of days will be calculated at the time of booking
  3. For less than 1 year deposit, please mention tenure in days
  4. Reinvestment is available for minimum tenure of 6 months 1 day (actual number of days in the month)

key attractions

TENURE RANGES

Wide range of tenures ranging from 7 days to 10 years

PREMATURE WITHDRAWL

No penalty on premature withdrawal

features & benefits

Auto Renewal

Auto Renewal ensures your Fixed Deposit is safe even if you forget to give instructions

Overdraft facility

Overdraft facility against your deposits at competitive rates give your funds liquidity

Tax Saver Deposits

Five years tax-free Fixed Deposit (Interest Rates same as Regular Fixed Deposits)

reach

Our inter-city banking facility allows you to bank at any of our branches during your visit to India

Superior Interest Rates, Easy Withdrawals

You earn compounded interest by reinvesting the principal and interest.

Not only do we offer the most competitive interest rates, but senior citizens earn extra benefit on the interest rate (0.50% extra). You earn compounded interest by reinvesting the principal and interest.

We offer an easy funds withdrawal through our sweep-in facility. There is no penalty on premature withdrawal. You can withdraw your deposit in units as low as INR 1/-

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Have any other query?

Q.What is the minimum & maximum tenure for a Fixed Deposit?

A.Minimum tenure is 7 days and maximum is 10years

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Q.Is there any minimum amount for a Fixed Deposit? 

Yes its  Rs 10000

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  • FIXED DEPOSITS – YES BANK

    At YES BANK, we understand the need for financial security in life. With a fixed deposit account from YES BANK, you receive a steady source of income with a flexibility of maintaining your funds in accessible units.

    A fixed deposit is an investment account which is opened for a stipulated period of time by depositing a certain amount of money. The money with which this account is to be created is a fixed, one-time deposit with a fixed rate of interest.

    Fixed deposits are a safe investment option, with guaranteed returns, as the money you deposit earns you a certain amount of interest till the date of maturity. You can also choose to collect your income, from the interest accrued on the deposit as per your convenience on a monthly, quarterly or annual basis.

    Features and Benefits of Fixed Deposit

    Opening a fixed (term) deposit account with YES BANK is a smart way to save your money, and earn money on those savings. Following are some of its key features:

    • Choose the tenure of the deposit according to your convenience and financial goals. YES BANK offers you various fixed deposit tenures ranging from a minimum of 7 days to a maximum of 10 years.

    • Returns are guaranteed on your deposit. There is no risk involved in investing money in a fixed deposit account.

    • Investing in a fixed deposit account earns you a higher rate of interest than a savings account.

    • Choose when to collect the income earned from the interest. You may reinvest the interest, without collecting, to benefit from the effect of compounding.

    • It is easy to raise a loan against your fixed deposit. You can borrow up to 90% of the amount in your account.

    • It inculcates a habit of saving money, thereby enabling you to manage your finances and plan ahead.

    Over and above these benefits, opening a fixed deposit with YES BANK gives you the following added advantages:

    • Overdraft Facility

    • Five Years Tax-Free Deposits

    • Auto Renewal

    • Inter-City Banking Facility

    Interest Rates on Fixed Deposit

    The rate of interest on fixed deposits varies according to the amount deposited and the tenure of the deposit.

    At YES BANK, deposits of over INR 1 Crore attract a higher interest rate, while special rates and escalated rates for senior citizens form an integral part of the interest slab.

    YES BANK offers the most competitive fixed deposit rates in India and provides the utmost flexibility in terms of your deposit tenure to maximise the earning potential of your money, in accordance with your requirements.

    For reference purposes, interest rate slabs considered are 3 months = 91 days; 6 months = 181 days; 9 months =272 days, with the actual number of days calculated at the time of booking. For deposits of less than a year, the tenure is mentioned in days.

    YES BANK also provides you the option of reinvestment with a minimum tenure of 6 months and 1 day (the actual number of days in a month) with the interest calculated at maturity as Simple Interest.

    Eligibility

    Anyone falling under the following categories is eligible to open a fixed deposit account:

    • Resident individual

    • Hindu Undivided Family

    • Companies, Partnership Firms or Sole Proprietorships

    • Family Trusts

    • Associations, Clubs and Societies

    The minimum amount to open a fixed deposit account is INR 10,000.

    Documentation

    Opening a fixed deposit account with YES BANK is extremely easy and quick. If you are eligible, under the above category, you only need to present the following documents as proof:

    • Identity Proof – Passport, Aadhar Card, Driving License, Government ID, Senior Citizen ID Card, or PAN Card

    • Address Proof – Passport, Telephone Bill, Electricity Bill, Bank Statement with Cheque

    Nomination Process

    When opening a fixed deposit account, you will be asked to appoint a nominee to take care of your assets, to account for any unfortunate turn of events. Only individuals or single and joint account holders may appoint a nominee, and such a nominee must only be an individual. The nominee is a mere custodian of the account, and has no right over the money unless they inherit it, or it is specified in the will. The nominee’s role is to direct the court in terms of handling the account in the event of the account holder’s demise.

    Withdrawal of Fixed Deposit

    Withdrawal of the fixed deposit account occurs either upon maturity, or prematurely, where the account is said to be broken.

    When the fixed deposit matures, it can be directed towards withdrawal or renewal. You may choose to claim the amount accrued in your account upon its maturity and withdraw the same. However, if you are not in any immediate requirement of the funds that have been invested, renewal is the ideal option, and with the auto-renewal facility at YES BANK, you need not worry about this process even if you forget to renew the deposit.

    An urgent need for funds, on the other hand, may lead to breaking the fixed deposit before the account matures. In this scenario, your deposited amount is repaid to you with the interest accrued till that term, in accordance with the guidelines of the Reserve Bank of India.

    YES BANK offers you a sweep-in facility for premature withdrawals and does not charge any penalty on them.

    To book a fixed deposit with YES BANK, log on to our website, or visit your nearest YES BANK branch, or YES BANK ATM today.

    Fixed Deposits with value of less than Rs. 1 Crore can be booked on our Net Banking portal. For Fixed Deposits with value of more than or equal to Rs. 1 Crore, please visit our Branch or speak to your Financial Advisor.

    Know more about Non Resident Fixed Deposit Rates here.

    Know more about rates for Senior Citizens here.

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