Yes Bank, a private sector bank is offering fixed deposits (FD) to both regular and senior citizens. An FD account can be opened with a minimum deposit of Rs 10,000 for a tenure of 7 to 10 years, Goodreturns reported.
Yes Bank had recently revised its interest rates for term deposits, effective from August 5. According to LiveMint, the bank now offers an interest rate of 3.25% on deposits maturing in 7 to 14 days, 3.5% on 15 to 45 days, and 4% on 46 to 90 days FDs. For FDs with a maturity period of 9 months to less than 1 year, the Bank gives an interest rate of 5.25%.
For senior citizens, Yes Bank offers an additional rate of 0.50% for deposits maturing in 7 days to less than 3 years whereas deposits maturing in 3 years to less than 10 years, the bank offers an additional rate of 0.75%, reported Goodreturns.
For long-term deposits maturing in 5 years to less than 10 years, Yes Bank is now giving an interest rate of 6.50%.
FD rates for regular citizens
(Inputs from Goodreturns):
7 to 14 days – 3.25%
15 to 45 days – 3.50%
46 to 90 days 4.00%
3 months to less than 6 months – 4.50%
6 months to less than 9 months – 5.00%
9 months to less than 1 Year – 5.25%
FD rates for senior citizens:
7 to 14 days – 3.75%
15 to 45 days – 4.00%
46 to 90 days – 4.50%
3 months to less than 6 months – 5.00%
6 months to less than 9 months – 5.50%
9 months to less than 1 Year – 5.75%
