YES BANK Fixed Deposit Rates. YES BANK Fixed Deposit rates are quite competitive in the market. However, the bank can change these rates at any time. It is important to check the prevailing FD rates before booking your deposit. The FD rates given by YES BANK have been mentioned below: Fixed Deposit Interest Rates.
- Yes Bank Fixed Deposit Rates Chase Bank
- Yes Bank Fixed Deposit Rates Wells Fargo
- Fixed Deposit Interest Rate
- Canara Bank Fixed Deposit Rate
YES Bank offers multiple and flexible fixed deposit rates to its customers. Moreover. this bank is also one of the leading banks in India and, famous for providing attractive fixed deposit rates than any other private bank. You can only make a one-time deposit and lock it for the specific tenure for receiving the highest amount of interest rate than any other bank. Check Yes Bank FD rates below.
YES Bank Fixed Deposit Rates:
We know that fixed deposits are one of the safest investment, and what if the person is getting more interest rates compared to any other bank. That is more attractive? Isn’t it.
YES Bank FD rates are starting from 5.00% P.A to 7.15% P.A and that is also for the tenure of the deposit of 7 to 365 Days. The interest could be higher for the senior citizens and it is up to 7.65%.
It would be good if you deposit for the longest tenure as the interest rate for the longer tenure will be higher. It would be 7.25% for the normal account users and 7.75% for the senior citizens for fixed deposit tenure of 10 Years.
Read More – How to Register Yes Bank Net Banking Online Services
Types of YES Bank Fixed Deposits:
There are three types of YES Bank fixed deposits.
- Yes Bank offers fixed deposit schemes for Non-Resident Indians (NRIs) that have attractive interest rates of up to 6.75% p.a. With flexible tenures starting from 1 year onwards and a minimum deposit amount of Rs.10,000. The NRE fixed deposits are tax-free in India and come with auto-renewal and 24x7 internet banking options. Yes Bank NRO FD Rates.
- Yes Bank Savings Interest Rates (as on 01 Mar 2021), List of Banks for Savings Account 2021 Documents & Eligibility to Open Savings Account.
- Resident fixed deposit
- Tax saver fixed deposit
- Senior citizens fixed deposit scheme
#1 Resident Fixed Deposit:
Features & the eligibility criteria for the resident fixed deposits are mentioned below.
Features
- The tenure for this account will range from 7 days to 10 years.
- There will be no penalty for premature withdrawal.
- Auto-renewal facility is available.
- An overdraft facility is available.
- The inter-city banking facility is also available.
Eligibility
- Resident individual
- Hindu undivided family.
- The companies, sole partnerships or trusts.
- Trusts.
- Clubs, associations and societies.
#2 Tax Saver Fixed Deposit:
Features & the eligibility criteria for the tax saver fixed deposits are mentioned below.
Features
- The tax saver fixed deposit would be having the lock-in period for a minimum of 5 years.
- Tax exemption under 80c.
- No permission for premature withdrawal.
- A joint account facility is available.
- Senior citizens and NRIs are eligible
- Loan against FD is not permitted
Eligibility
- Resident individual
- Hindu undivided family.
- The companies, sole partnerships or trusts.
- Trusts.
- Clubs, associations and societies.
Also, Check – YES Bank Personal Loan
#3 Senior Citizen Fixed Deposit Scheme:
Features & the eligibility criteria for the senior citizen fixed deposits are mentioned below.
Features
- The senior citizens will get 0.50% more than average interest rates.
- The fixed deposit ranges from 5.50% to 8.20%.
- A joint account facility is available but the primary holder of the account will be the first senior citizen only.
Eligibility
- Indian residents of age 60 and above is eligible for opening senior citizen fixed deposit account in YES Bank.
Conclusion:
YES Bank is one of the fifth largest banks in India. It has more than 1000+ branches and also, more than 1800+ ATM’s are already operating in India. In this article, we have discussed and also, mentioned the YES Bank fixed deposit scheme as we all know this bank is good in providing a more FD interest rate than any other private bank.
Sudha is the senior publisher at Finance Glad. Sudha completed her education in BBA (Bachelor of Business Administration). She lives in Chennai. She is currently heading towards the banking topics. Sudha is an expert in analyzing and writing about most of the banks and credit card reviews. Sudha main hobbies and interests are reading, writing and watching the quality stuff over the internet. She usually wants to learn more productive stuff and share the best information to her readers over the internet via Finance Glad.
The highest interest rate is offered by the ESAF Small Finance Bank (for 12 months) at 8.75% per annum and Suryoday Small Finance Bank (for 12 months) at 8.50% per annum followed by Utkarsh Small Finance Bank (for 12 months) 8.25%.
| Bank | Tenure | FD Interest Rate (p.a.) | Interest Rates | Calculate |
|---|---|---|---|---|
| Abu Dhabi Commercial Bank | 12 Months | 7.50% | ||
| Indusind Bank | 12 Months | 7.00% | ||
| Rbl Bank | 12 Months | 7.00% | ||
| Yes Bank | 12 Months | 6.75% | ||
| Allahabad Bank | 12 Months | 6.75% | ||
| Idfc Bank | 12 Months | 6.75% | ||
| Bharatiya Mahila Bank | 12 Months | 6.70% | ||
| A B Bank | 12 Months | 6.50% | ||
| Dcb Bank | 12 Months | 6.50% | ||
| United Bank Of India | 12 Months | 6.50% | ||
| Standard Chartered Bank | 12 Months | 6.30% | ||
| Laxmi Vilas Bank | 12 Months | 6.00% | ||
| Tamilnad Mercantile Bank | 12 Months | 5.90% | ||
| Bandhan Bank | 12 Months | 5.75% | ||
| Punjab And Sind Bank | 12 Months | 5.55% | ||
| Karnataka Bank | 12 Months | 5.50% | ||
| Karur Vysya Bank | 12 Months | 5.50% | ||
| City Union Bank | 12 Months | 5.50% | ||
| South Indian Bank | 12 Months | 5.50% | ||
| Syndicate Bank | 12 Months | 5.50% |
The objective of bank fixed deposit is to earn better returns on idle money than savings account, FD interest rates varies from bank to bank depending upon tenure. To create an fixed deposit, you require lump sum investment for a fixed tenure and on this invested amount, banks offer you to get a fixed interest periodically till the end of the term. Now-a-days many banks offer competitive & attractive interest rates on FD for Senior Citizens and NRE/ NRO customers. You can also calculate FD interest rate, this will help you to take a proper investment decision.
Yes Bank Fixed Deposit Rates Chase Bank
The advantage of FD is that bank offers loan facility upto 90% of the amount on the FD and the interest rate to such loan is around 0.50% to 2.00% higher than the fixed deposit rate. Another advantage of FD is periodic income (interest) can be transferred periodically to savings account. To know more advantage of fixed deposit check diffrence between FD Vs RD.
The disadvantage of FD is tax deduction at source (TDS) at the rate of 10% on interest earned, if it exceeds Rs. 10,000 in one financial year.
Fixed Deposit Highlights
- Maximum Investment Amount: No such limit
- Interest Rates Variable: from 7 to 9% based on tenure
- Interest Rates Compounding: Quarterly
- Interest earned is taxable: Yes
- Liquidity: Yes
- Tenure: 7 days to 10 years
- Income Tax Rebate u/s 80C: Yes upto Rs 1,50,000/- p.a., but on FD with a lock in period of 5 or more years
- Maturity Value: Taxable
- Premature Withdrawals: Entire amount, anytime but after charging a certain penalty
- Loans/Overdraft: Overdraft facility upto 90% of the amount in the FD
- Tax Deduction at Source: Yes at the rate of 10% on interest earned if if it exceeds Rs. 10,000 in one financial year
- Risk: Risky as compared to PPF
- Periodic Income: Yes
Things To Do Before Investing in Bank Fixed Deposit
(1) Decide Upon the Tenure of Bank FD: It is needed to decide the tenure for which you can keep the funds in a Bank FD. It can be done by estimating as to for how long you don't require invested funds.
(2) Decide Upon the Amount of Investment: You will have to decide the amount of funds to be invested in Bank FD. You should not invest your whole savings in Bank FD but should diversify it well. You can take the help of a financial consultant for the same.
(3) Select the Right Bank to Make an FD: It is the most important thing to select the best bank to open your FD with. You must compare the FD interest rates offered by various banks to select the right bank. As the interest rates offered by the banks change on regular intervals, you need to check the latest interest rates offered by different banks from their respective official websites. You must not ignore other aspects also such as customer servicing, online investment option, fast processing, nearby branch presence, etc. while selecting the bank to start the FD.
Tips to Earn More Money from Fixed Deposits
Compare FDs Interest Rates offered by Different Banks
You must compare interest rates offered by various banks and choose the right bank which offer you the best interest for a given tenure. You can take the help of websites of banks or financial aggregators to do the same.
Make the FD in the name of Senior Citizen Family Member
If you have senior citizen parents then it is better to invest money in their name because banks usually offer higher interest rate to senior citizen which is 0.50% higher than that of a person aged below 60 years.
Choose Cumulative Interest Option
If you do not require any monthly income, you should opt for 'Cumulative Option' for interest wherein your interest will be reinvested and given to you on maturity.
Do not Withdraw FD Prematurely
You should avoid withdrawal of FD before its maturity in order to save on penalty. If you have urgent need of fund, you should arrange it from somewhere else instead of breaking your FD prematurely. You can even opt for loan against your FD for arranging for short term fund needs.
Yes Bank Fixed Deposit Rates Wells Fargo
Split Your FD Amount
You should remember that banks deduct TDS on your interest income if it exceeds Rs 10,000 in a given financial year. In order to avoid deduction of TDS, you should split your total FD amount into different blocks and open FDs with different banks in such a way so that total interest income from a single FD would not exceed Rs 10,000 in a financial year.
Submit Form 15G/ 15H to avoid TDS
Whenever the interest income is over Rs 10,000 in a given financial year, banks are required to make a TDS at certain rate from the interest income released to the FD account holder. One can avoid such deduction by submitting Form 15G/ 15H, if one's income is non-taxable. In such a way, he will have receive interest without TDS deduction.
Fixed Deposit Interest Rate
Invest money in Corporate Deposit
Canara Bank Fixed Deposit Rate
Corporate Deposits offer higher interest to the customers that the same provided by banks. They provide 1.50% to 2% higher interest rate than that of banks. In order to earn more, one can think of investment in corporate deposits. While selecting company for corporate deposit, look for corporate deposits which have good credit rating.