YES Bank FD Interest Rates

With a high credit rating, YES Bank Fixed Deposits (FDs) are a low-risk investment option for those seeking stable returns. Whether you are looking to grow your savings with short-term investments or planning for the future with long-term tenures, the bank offers a wide range of options. Take advantage of special interest rates for senior citizens and the ease of managing your FDs online.  

Here are the latest interest rates offered by YES Bank FD for regular and senior citizens:

Here are the interest rates for YES Bank Non-resident External (NRE) and Non-resident Ordinary (NRO) fixed deposits:

• NRE Fixed Deposits 

The bank offers tax-saving fixed deposits to investors who are looking to save on tax deductions of up to ₹1,50,000 under Section 80C of the Income Tax Act, 1961. This FD has a lock-in period of 5 years, and no premature withdrawals are allowed during the tenure. However, you can receive interest payouts on a quarterly basis or upon maturity. 

Here are the interest rates for the tax-saving FD:

Here is an example that showcases the returns on a 3 and 5-year investment at an interest rate of 8.50% p.a. Here’s what you can expect to receive upon the maturity of your fixed deposit:

Before you begin investing, it is important to understand all the charges involved:

• Premature Withdrawal

The bank imposes penalties for the premature withdrawal of fixed deposits, which vary depending on the tenure. For fixed deposits of 181 days or less, the penalty is 0.75%. Fixed deposits over 182 days incur a penalty of 1.00%. This penalty applies to all customers, with certain exemptions after specific dates. A standard penalty of 0.25% applies to FDs valued at ₹5 Crores or more. This is applicable to both partial and complete withdrawals.

• Tax Deducted at Source (TDS)

The bank deducts TDS on fixed deposit interest if the interest earned exceeds ₹40,000 for regular customers and ₹50,000 for senior citizens in a financial year. The TDS rate is 10% if the PAN is provided and 20% if the PAN is not provided. Investors can submit Form 15G or 15H to claim TDS exemption if their total taxable income is below the applicable threshold.

Start your investment journey with Bajaj Markets by following these straightforward steps:

1. Complete the ‘Invest Now’ form by entering your mobile number, date of birth, and pin code

2. Input the OTP sent to your mobile number to proceed with the setup

3. Compare interest rates from the various banks and NBFCs available 

4. Choose YES Bank FD from the available options, select a tenure that meets your requirements, and pick an interest payout frequency that aligns with your financial goals

5. Provide your full name and PAN card details

6. Upload necessary documents, including your PAN card, Aadhaar card, and a recent passport-sized photo for verification

7. Review and update any personal details you've entered, such as your address, marital status, and email address

8. Fill in your banking information, including your bank’s name, IFSC code, and account number

9. Enter nominee details to designate a beneficiary for your FD in case of unforeseen circumstances

10. Choose your preferred payment method and complete the transaction online

After completing these steps, your FD will be successfully booked, and you will begin earning interest on your investment