FD interest rate up to 8.25%: YES Bank cuts fixed deposit rate by 25 bps on this tenure These updated FD interest rates will take effect from November 5, 2024
Yes Bank has cut fixed deposit (FD) interest rates by up to 25 basis points (bps) for specific tenures on deposits under Rs 3 crore. These revised FD interest rates are effective from November 5, 2024.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} US Election 2024
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After the revision, regular citizens can now avail of FD interest rates ranging from 3.25% to 7.75%, while senior citizens are offered rates between 3.75% and 8.25%. The highest interest rate of 7.75% and 8.25% is provided on FD tenure of 18 months.
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The bank has reduced the fixed deposit interest rate on tenure of 18 months from 8% to 7.75%, down by 25 bps.
Latest Yes Bank FD interest rates
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Fixed Deposit Interest Rates w.e.f. 05th November, 2024 (Less than INR 3 Cr)TenureRegularSenior Citizen**Interest Rates (%P.A.)*Interest Rates (%P.A.)*7 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 7.25%7.75%1 year 1 day to 7.50%8.00%18 months 7.75%8.25%18 months 1day to 7.75%8.25%24 months to 7.25%7.75%36 months to 7.25%8.00%60 months7.25%8.00%60 months 1 day to 7.00%7.75%
Yes Bank FD booking details
The minimum amount to book a Fixed Deposit is Rs 10,000. The minimum tenure for reinvestment Fixed Deposit is 6 months and 1 day. Resident senior citizen earn additional interest 0.50% for tenure less than 3 years and 0.75% p.a. for tenure of 3 years and above on Fixed Deposits value less than Rs 5 crore.
Premature penalty on Fixed Deposits
Kindly refer the below table for applicable premature withdrawal penalty.
Premature withdrawal penalty shall be applicable on all deposits booked / renewed for amount less than INR 5 Cr as per the below table.
Tenure of Fixed Deposit (Completed) w.e.f. 03rd November 2023Less than equal to 181 days0.75%182 days and above1.00%
*Key Points:
Premature penalty will be applicable as per above regime for Senior Citizen customers who booked/renewed FD’s for period 5th July 19 till 15th May 22. Nil premature penalty will be applicable for Senior Citizen FD booked/renewed on and after 16th May 22.For values less than Rs 5 Cr, existing penalty structure shall continue at 0.25% for all tenure & value buckets.Premature FD withdrawal penalty interest will be charged for partial as well as full withdrawal and on FDs pre-closed via sweep-in facility for any amount.Premature FD withdrawal interest will be calculated at the rate applicable for the period for which the deposit was held with the bank as on the date of deposit plus applicable penalty ,if any. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
