Private sector Yes Bank is offering additional interest to senior citizens on fixed deposits. Any person can start a fixed deposit in Yes Bank with a minimum of Rs 10,000.
New Delhi. Private sector Yes Bank, which was once on the verge of drowning due to cash crunch, is now paying an interest of up to 7.25 percent on fixed deposits (FD). Actually, Yes Bank has changed the interest rates on FD.
Any individual can start an FD in Yes Bank with a minimum of Rs 10,000. For this, the minimum maturity period has been kept 7 days and maximum 10 years. Yes Bank said that the new interest rates have come into effect from August 5, 2021. Let us know how much interest this private bank is paying on the FD for which period.
Yes Bank is offering 3.25 percent interest on fixed deposits of 7 to 14 days. At the same time, 3.50 percent interest is being paid on FDs of 15 to 45 days and 4 percent for 46 to 90 days. Apart from this, 4.50 percent interest is offered on deposits from 3 months to less than 6 months and 5 percent for deposits from 6 months to less than 9 months. The bank is offering an interest rate of 5.25 per cent on fixed deposits ranging from 9 months to less than one year and 5.75 per cent on fixed deposits from 1 year to less than 18 months.
Know how much interest is getting for which period
>> 6 percent interest is getting on FDs of less than 18 months to 3 years.
>> Interest is 6.25% for tenures ranging from 3 years to less than 5 years.
>> FDs of long duration ranging from 5 years to less than 10 years will get 6.50 percent interest.
Senior citizens will continue to get more profits
Yes Bank is offering higher rate of interest on FDs to senior citizens. Senior citizens are being offered an interest rate between 3.75 per cent to 7.25 per cent on FDs with tenures ranging from 7 days to 10 years. If the fixed deposit is withdrawn or closed before maturity, then it may attract penalty.
However, there will be no penalty for premature withdrawal on fixed deposits of 181 days or less. At the same time, 0.50 percent penalty will have to be paid for 182 days or more. Let us tell you that at one time Yes Bank was on the verge of sinking due to cash crunch. After this the government intervened and rebuilt the bank.