Yes Bank hikes FD interest rates: These investors can earn up to 8.25% fixed deposit rate Following the change, the bank now provides general citizens interest rates ranging from 3.25% to 7.75%
Yes Bank has hiked fixed deposit interest rates for deposits below Rs 2 crore on certain tenures by 10 basis points (bps). After the revision, the bank offers interest rates between 3.25% to 7.75% to general citizens. For senior citizens, the bank offers 3.75% to 8.25%, according to the Yes Bank website.Latest Yes Bank FD Rates
The bank is now offering an interest rate of 3.25% on domestic term deposits maturing in 7 to 14 days, and Yes Bank is now offering an interest rate of 3.70% on domestic term deposits maturing in 15 to 45 days. Yes Bank is presently giving 4.10% interest on deposits maintained for 46 to 90 days and 4.75% interest on deposits held for 91 to 180 days.Deposits maturing in 181 to 271 days will now yield 6.10% interest from earlier 6%, while deposits maturing in 272 to 1 year will receive 6.35% interest from previous 6.25%. Yes Bank will offer a rate of 7.50% on FDs due between 1 year to less than 18 months, and a rate of 7.75% on FDs maturing between 18 months to less than 36 months. The bank has added new tenure with maturities ranging from 36 to 60 months and will earn a 7.25% interest rate.
Deposits with maturities of between 60 and 120 months will fetch an interest rate of 7%.
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Latest senior citizen bank fixed deposit (FD) interest rates in India for 2023
TenureRegularSenior Citizens***Interest RatesInterest Rates7 days to 14 days3.25%3.75%15 days to 45 days3.70%4.20%46 days to 90 days4.10%4.60%91 days to 120 days4.75%5.25%121 days to 180 days5.00%5.50%181 days to 271 days6.10%6.60%272 days to 6.35%6.85%1 Year to 7.50%8.00%18 Month 7.75%8.25%36 months to 7.25%8.00%60 months to 7.00%7.75%
Senior citizens
The bank offers the highest interest rate of 8.25% on tenure of 18 months to less than 36 months.
Premature Penalty on Fixed Deposits
Premature withdrawal penalty shall be applicable on all deposits booked / renewed for amount less than Rs 5 crore as per the below table.
Penalty Structure for Fixed Deposits with value less than INR 5 Cr:
Tenure of Fixed Deposit (Completed)Penalty Ratew.e.f. 5th July 2019w.e.f. 16th May 2022*w.e.f. 08th August 2022*Less than equal to 181 daysNil0.25%0.50%182 days and above0.50%0.50%0.75%
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This story originally appeared on: India Times - Author:Faqs of Insurances
