Yes Bank Hikes FD Rates Up To 10 Bps On Select Tenors Effective From Today

Yes Bank has announced a hike in interest rates for fixed deposits under Rs 2 crore. The bank made this adjustment on Monday and now provides interest rates for deposits ranging from 7 days to 120 months that range from 3.25% to 7.00% for the general public and 3.75% to 7.75% for senior citizens. On a deposit tenor of 18 months to 36 months, Yes Bank is now offering a maximum regular rate of 7.75% and 8.25% to senior citizens. According to the bank's official website, the new FD rates take effect on July 3, 2023.

Yes Bank FD Rates

The bank will continue to offer an interest rate of 3.25% on fixed deposits maturing in the next 7 to 14 days and 3.70% on those maturing in the next 15 to 45 days. The interest rates at Yes Bank will remain at 4.10% for deposits held for 46 days to 90 days and 4.75% for deposits held for 91 days to 120 days. Deposits with maturities between 121 and 180 days will now provide interest rates of 5.00% and 181 to 271 days will now offer interest rates of 6.10%, which is a 10 basis point jump above the prior rate of 6%. Yes Bank raised the interest rate on fixed deposits maturing in 272 days to one year by 10 basis points, from 6.25% to 6.35%, while maintaining the interest rate of 7.50% on deposits maturing in one year to 18 months. The current interest rates offered by Yes Bank are 7.75% for deposits with a tenor of 18 months to 36 months and 7.25% for deposits with a tenor of 36 months to 60 months. Deposits with maturities between 60 and 120 months will now earn interest at a rate of 7.00%.

"Senior Citizens get an additional interest rate of 0.50% for tenure less than 3 years and 0.75% for tenure of 3 years and above for FD valuing less than 5 Crores. This is over and above the regular FD rates," mentioned Yes Bank on its website. On recurring deposits (RD) maturing in 6 months to 5 years and above, Yes Bank is now promoting interest rates ranging from 6.10% to 7% for the general public and 6.60% to 7.75% for senior citizens. On RDs with tenors of 18 months to 33 months, Yes Bank is now offering a maximum standard rate of 7.75% and 8.25% for senior citizens.