This private sector bank has announced to increase the interest rate for a specific period on deposits of less than Rs 2 crore. These interest rates have been increased by 25 basis points (bps).
YES Bank hikes FD rates: Private sector Yes Bank has given a big gift to investors. Actually, the bank has announced to increase the interest rate for a specific period on deposits of less than Rs 2 crore. These interest rates have been increased by 25 basis points (bps). After this increase, a common citizen can now avail interest rates ranging from 3.25 percent to 7.75 percent. At the same time, senior citizens will get interest between 3.75 percent to 8.25 percent. These revised interest rates are effective from November 21, 2023.
These are the new interest rates
According to the website of Yes Bank, the bank is now offering 3.25 percent interest rate for FDs maturing in seven to 14 days. Similarly, customers will get 3.70 percent interest on deposits maturing in 15 to 45 days. For long term, deposits maturing in 272 days to one year will get an interest rate of 6.35 percent, while deposits maturing in one year will get an interest rate of 7.25 percent. The interest rate on deposits maturing in one year to less than 18 months is 7.50 percent. The highest interest rate for FDs maturing in 18 months to less than 24 months has been increased from 7.50 percent to 7.75 percent.
Interest for senior citizens
Senior citizen FD interest rates range between 3.75 percent to 8.25 percent. The highest interest rate of 8.25 percent is offered on tenures from 18 months to less than 24 months. Let us tell you that the minimum amount to book a fixed deposit (FD) in Yes Bank is Rs 10,000. Interest is calculated from value date to maturity date. Customers can choose interest payments monthly, quarterly or on maturity for FDs with a tenure of less than six months.
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