YES Bank Fixed Deposit Rates: Latest Updates and Details

Fixed deposits (FDs) are a popular savings tool in India, offering a low-risk way to earn interest by locking in funds for a fixed period. YES Bank provides competitive FD rates across various tenures, allowing individuals to grow their savings with guaranteed returns, unaffected by market fluctuations. With a range of flexible tenures, YES Bank helps you choose an investment period that suits your financial goals.

YES Bank’s Fixed Deposit Interest Rates

The interest rates for YES Bank FDs may vary based on the tenure and the deposit amount. Interest rates offered by YES Bank range from 3.25% p.a. to 8.50% p.a., depending on the selected tenure.

Here is a detailed table of YES Bank fixed deposit rates for various tenures:

Fixed Deposit Interest Rates for Less than ₹3 Cr (w.e.f. 08th June, 2024)
Tenure	Regular
	Interest Rates (% p.a.)*	Annualised Yield
7 days – 14 days	3.25%	3.25%
15 days – 45 days	3.70%	3.70%
46 days – 90 days	4.10%	4.10%
91 days – 120 days	4.75%	4.75%
121 days  – 180 days	5.00%	5.00%
181 days  – 271 days	6.10%	6.24%
272 days  – < 1 year	6.35%	6.50%
1 year	7.25%	7.45%
1 year 1 day to less than 18 months	7.50%	7.71%
18 months	8.00%	8.24%
18 months 1 day – less than 24 months	7.75%	7.98%
24 months – less than 36 months	7.25%	7.45%
36 months  – less than 60 months	7.25%	7.45%
60 months	7.25%	7.45%
60 months 1 day to <= 120 months	7.00%	7.19%

Disclaimer: Interest rates are subject to change at the sole discretion of the bank.
The above rates apply to deposits below ₹3 Crores. For deposits of ₹3 Crores and above, you may need to contact the bank for specific rates.

Features of YES Bank Fixed Deposits

Tenure Flexibility

YES Bank offers FDs with tenures ranging from 7 days to 10 years. This flexibility allows individuals to select the most favourable tenure based on their financial needs.

Interest Payout Options

YES Bank provides options to receive interest payouts monthly, quarterly, or annually. You can also choose to get the interest at maturity if you don’t need regular payouts.

Auto-Renewal Facility

YES Bank offers an auto-renewal feature. This means that upon maturity, the FD will be renewed automatically unless specified otherwise by the depositor.

Loan Against FD 

You can avail of a loan against your FD with YES Bank. This can be useful if you need liquidity during the deposit period. The loan amount could go up to 90% of the FD value.

Premature Withdrawal

YES Bank allows premature withdrawal of the FD. However, breaking the FD before the end of the tenure may result in a penalty or reduced interest rate.

How to Calculate FD Interest Using YES Bank FD Calculator

Understanding potential returns on your FD is important before making an investment decision. YES Bank offers an FD calculator on its website, which helps you determine the interest you could earn based on the deposit amount, tenure, and interest rate.

To use the YES Bank FD calculator:

1. Input the amount you wish to invest in the FD
2. Choose the period for which you want to invest the amount
3. You can select between receiving interest payouts periodically or at maturity
4. The calculator will display the interest amount you could get and the maturity value

Using the YES Bank FD calculator can give you a clear idea of how much you may earn based on the selected tenure and deposit amount.

Tax Implications on YES Bank Fixed Deposits

Interest earned on YES Bank fixed deposits is subject to tax under the Income Tax Act, 1961. The tax deduction is made at source (TDS) if the interest income exceeds ₹40,000 in a financial year. For senior citizens, the limit is ₹50,000.

To avoid TDS deductions, individuals with income below the taxable limit can submit Form 15G, while senior citizens can use Form 15H. If you opt for the tax-saver FD that comes with a 5-year lock-in period, you can claim tax deductions under Section 80C of the Income Tax Act.

Senior Citizens’ Benefits

YES Bank offers special interest rates for senior citizens. Senior citizens, defined as individuals above 60 years of age, may receive an additional 0.50% interest on FDs across different tenures. This additional rate is applied over and above the regular rates offered to other individuals.

Documents Required for Opening an FD with YES Bank

To open a fixed deposit account with YES Bank, you need to provide the following documents:

• Identity Proof: Aadhaar card, PAN card, Passport, Voter ID, or Driving Licence
• Address Proof: Utility bills (electricity, water), Aadhaar card, Passport, or Voter ID
• PAN Card: Required for tax-related purposes. If not provided, the bank may deduct TDS at a higher rate

How to Open a Fixed Deposit with YES Bank

Opening an FD with YES Bank is simple. You can do it either by visiting a YES Bank branch or through their online banking platform.

Offline Method

Visit the nearest YES Bank branch. Fill out the FD application form, submit the required documents, and make your deposit.

Online Method

If you are an existing YES Bank customer, you can log into YES Bank’s internet banking portal. Select the ‘Fixed Deposit’ option, fill in the required details, and complete the process online.

Conclusion

YES Bank fixed deposits offer a reliable savings tool for those looking for stable, low-risk returns. With flexible tenures, competitive interest rates, and features such as loans against FDs, it could be a good option to consider for your financial goals.

By using the YES Bank FD calculator, you can estimate the returns on your investment, helping you make an informed decision. Always review the latest rates and consult the bank for the most up-to-date information before opening an FD.