Yes Bank founded in 2003 by Rana Kapoor ranks 4th amongst the private sector financial institutions of India. Yes Bank is providing retail banking solutions to the citizens of India with its customer centric and service driven approach.
|Period||Regular Interest Rates||Senior Citizen Interest Rates|
|7 to 45 days||5.75||6.25|
|46 to 90 days||6.95||7.45|
|3 months to < 6 months||7||7.5|
|6 months to < 9 months||7||7.5|
|9 months to < 1 Year||7||7.5|
|1 Year to <= 10 years*||7.1||7.6|
The interest rates under Yes Bank short term category vary from 5.5% to 8% per annum. For the holding period of one month, the rate of interest is calculated at 5.5% per annum. Moreover, for the slab of 46 days to three months, the returns are pegged at 7.1% per annum, and it is eventually increased to 7.4% per annum for the holding period of three to six months.
On the other hand, for the holding period of 181 days to less than 270 days, the rate of interest is calculated at 7.75% per annum, and it remains the same at 7.75% per annum for the holding period of 270-365 days.
For the holding period of one year and less than ten years, the bank offers 8% per annum on the deposits. Moreover, the rate remains the same at 8% per annum for the tenures of two, three, four, five and twenty years. Other than that, Yes Bank also offers its customers with tax saver deposits at 8% per annum for the deposit period of five years.
For the individuals above 60 years of age, Yes Bank provides them with an additional 0.5% per annum on their deposits. Therefore, for the holding period of one month, they can avail 6% per annum on their deposits. Moreover, it can get to 8.5% per annum for the holding period of one year and up to five years.