Yes Bank has revised the interest rate on its term deposits effective February 8. Yes Bank provides various fixed deposit (FD) schemes to both regular and senior citizens. The bank provides fixed deposit schemes for a tenure starting from a period of 7 days (short term) to 10 years (long-term).
Yes Bank offers an interest rate of 3.50 percent on deposits maturing in seven to fourteen days, 4 percent on 15 to 45 days, and 4.5 percent on 46 to 90 days FDs. Yes Bank gives 5 percent, 5.5 percent on term deposits maturing in 3 months to less than 6 months and 6 months to less than 9 months respectively. The Bank gives an interest rate of 5.75 percent for FDs with a maturity period of 9 months to less than 1 year.
To both regular and senior citizens, Yes Bank offers a special interest rate on FDs maturing in one year to ten years. Term deposits maturing in 1 year to less than 2 years will fetch an interest rate of 6.25 percent. FDs maturing in 2 years to less than 3 years will give 6.50 percent whereas deposits maturing in 3 years to 10 years will give 6.75 percent.
Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 4 percent to 7.5 percent on FDs maturing in 7 days to 10 years. Senior citizens will get 75 basis points extra on FDs maturing in 3 years to 10 years.