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FIXED DEPOSIT INTEREST RATES

At YES BANK, we understand the need for security of your savings. Our Fixed Deposits provide you greater earnings and assured returns along with the flexibility of maintaining your funds in accessible units; therefore, you do not need to break the entire deposit.

Fixed Deposit Interest Rates--

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

Period

Rates for < 2 Crore w.e.f 25th October 2019

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

6.25%

6.25%

6.75%

6.75%

3 months to < 6 months

6.25%

6.25%

6.75%

6.75%

6 months to < 9 months

6.85%

6.91%

7.35%

7.42%

9 months to < 1 Year

7.15%

7.28%

7.65%

7.80%

1 Years to <= 10 years* 7.25% 7.45% 7.75% 7.98%

 

*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

7.40%

7.61%

7.90%

8.14%

2 years < 3 years

7.50%

7.71%

8.00%

8.24%

 

** 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)
  5. For rates more than 5Cr, Kindly visit nearest branch
  6. For Fixed Deposit Rates (2 < 5 Cr) please click here.

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:

  • 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 per branch exceeds INR 40,000/- in a financial year and for senior citizen interest payable or reinvested per customer per branch 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.

  • 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

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.

  • For value < 5 Crs, 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 >= 5 Crs, existing penalty structure shall continue at 0.25% for all tenure & value buckets.

 

key attractions

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 2 Crore)

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. 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

+

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

Yes its  Rs 10000

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