AMinimum tenure for an INR FD is 7 days and maximum is 10years.
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Personal Banking
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 5th August, 2021 |
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|
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 |
5.00% |
5.03% |
5.50% |
5.54% |
| 9 months to < 1 Year | 5.25% | 5.32% | 5.75% | 5.83% |
| 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 < 5 years |
6.25% |
6.40% |
7.00% |
7.19% |
| 5 Years to <= 10 years | 6.50% | 6.66% | 7.25% | 7.45% |
** 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:
- For reference purpose interest rate slabs considered are 3 months = 91 days; 6 months = 181 days; 9 months =272 days
- Minimum tenure for an INR FD is 7 days and maximum is 10 years
- The minimum amount for creating an INR FD is INR. 10,000/-
- Actual number of days will be calculated at the time of booking
- For less than 1 year deposit, please mention tenure in days
- Reinvestment is available for minimum tenure of 6 months 1 day (actual number of days in the month)
- For rates more than 5Cr, Kindly visit nearest branch
- 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:
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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
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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
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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)
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For deposits with tenure of below 6 months 1 day, the interest is calculated at maturity as Simple Interest*
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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.
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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
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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
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In the absence of PAN, Form 15G/H and other exemption certificates will be invalid even if submitted & penal TDS will be applicable
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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
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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
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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:
-
Not filed Income Tax returns for the last two years; and
-
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:
-
Twice the rate specified in the relevant provision of the Income Tax Act; or
-
Twice the rate in force
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The rate of five per cent
-
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In case of pre-maturity of Fixed Deposit, interest will be calculated at the rate applicable (as per value date of the deposit) for the period for which the deposit was held with the Bank or contracted rate of the deposit (as per value date of the deposit) whichever is lower, plus applicable penalty.
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, etc.)
-
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.
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Premature FD withdrawal penalty interest will be charged for partial as well as full withdrawal include sweep in cases.
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For value < 5 Crs, Penalty for premature withdrawal will not be applicable on FDs booked/prematurely withdrawn within a tenure 7-181 days.
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Penalty for premature withdrawal is not applicable on FCNR and RFC deposits.
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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 1 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. 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/-
X
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Have any other query?
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Q.What is the minimum & maximum tenure for an INR Fixed Deposit (FD)?
+
Q.Is there any minimum amount for booking an INR Fixed Deposit?
A.Yes, the minimum amount for creating an INR FD is INR. 10000.
Mutual fund investments are the perfect way to increase your wealth without substantial risks. Know More
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.
Who are Eligible to Invest in YES BANK Fixed Deposit?
All Resident Individual, Non-Resident and Non individual entities can invest in YES BANK Fixed Deposit.
Can I get monthly interest on YES BANK Fixed Deposit?
Yes, monthly payout option is available on YES BANK FD
What happens to YES BANK FD after maturity?
As per maturity instruction FD will get auto renewed or pay-out to saving/current account.
Can I withdraw my YES BANK Fixed deposit before maturity?
Yes, you can withdraw your YES BANK FD before maturity.
How do I premature withdraw my YES BANK FD?
Yes, you can premature withdraw your YES BANK FD through net banking or visiting nearest branch, subject to mode of operation.
How to prematurely liquidate the Fixed Deposit?
Premature liquidation of FD can be done by visiting your nearest branch or online through Retail Net Banking subject to terms and conditions.
Can a fixed deposit be made in the name of minor?
YES BANK FD can be made in the name of minor.
Can the Fixed Deposit be made in a joint name?
YES BANK Fixed Deposit can be made in a joint name.
What are the documents required to invest in YES BANK FD?
Existing customer can book the fixed deposit using YBL digital platform (Subject to mode of operation) or by visiting nearest branch basis signed application. Non existing customer to submit official valid documents to open fixed deposit.
What are the modes by which interest is paid on YES BANK Fixed Deposit?
Transfer to Current Account/ Savings Account, DD/MC or customer other bank account via NEFT.
Is YES BANK Fixed Deposit transferable?
No, YES BANK Fixed Deposit is not transferable.
What is the tax benefit associated with FD?
Customer will be eligible to tax exception u/s 80 c in case FD is booked under tax saver scheme.
Can I take overdraft facility against my YES BANK FD?
Yes, as per eligibility you can take overdraft facility against YES BANK FD.
Will Fixed Deposit amount be automatically credited in our account on the maturity date?
Yes, as per maturity instruction given while FD booking Fixed Deposit shall be credited to respective account on date of maturity.
At what frequency will I receive interest on my Fixed Deposit?
YES BANK offers monthly, quarterly and on maturity pay-out frequency on Fixed Deposit.
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