Yes Bank is a full-service commercial bank founded in 2004 and is headquartered in Mumbai. It is currently present in all states and Union Territories of India. The bank is focused on providing products and services catering to retail, MSMEs and corporate customers, for example, merchant banking, investment banking and brokerage businesses.
Yes Bank provides attractive FD interest rates and flexibility. This article aims to cover everything you should know about Yes Bank FD schemes.
The fixed deposit interest rates for the Fixed Deposit Scheme and Non-Resident Ordinary (NRO) are given below for deposits below Rs. 2 crore. The interest rates are effective from 3 June 2021. Senior citizen interest rates apply only to residents of India.
Period | Regular (% p.a.)* | Senior Citizen (% p.a.) |
7- 14 days | 3.25 | 3.75 |
15- 45 days | 3.50 | 4.00 |
46- 90 days | 4.00 | 4.50 |
91- less than 181 days | 4.50 | 5.00 |
181- less than 272 days | 5.00 | 5.50 |
272 days- less than 1 year | 5.25 | 5.75 |
Special Rates | ||
1 year- less than 3 years | 6.00 | 6.50 |
3 years- less than 5 years | 6.25 | 7.00 |
5 years- up to 10 years | 6.50 | 7.25 |
*Interest rates are subject to change at the discretion of the bank.
The fixed deposit rates for Non-Residential External (NRE) is given below. The interest rates below Rs. 2 crore deposit are effective from 3 June 2021.
Period (in years) | Interest Rate (% p.a.)* |
1 < 3 | 6.00 |
3 < 5 | 6.25 |
5 -10 | 6.50 |
*Interest rates are subject to change at the discretion of the bank.
The fixed deposit rates for the Foreign Currency Non-Resident fixed deposit scheme is given below. The interest rates are effective from 29 July 2021.
Period | USD (% p.a.)* | GBP (% p.a.) | EUR (% p.a.) | JPY (% p.a.) | CAD (% p.a.) | AUD (% p.a.) | SGD (% p.a.) | HKD (% p.a.) |
1 year- 15 months | 1.00 | 0.80 | 0.20 | 0.20 | 0.85 | 0.45 | 1.10 | 0.60 |
15 months | 0.95 | 0.80 | 0.20 | 0.40 | 1.00 | 0.65 | 1.05 | 0.70 |
15 months- 2 years | 1.05 | 1.00 | 0.25 | 1.75 | 1.15 | 0.75 | 1.10 | 0.80 |
2 years- 3 years | 1.20 | 1.05 | 0.40 | 0.50 | 1.40 | 1.05 | 1.30 | 1.00 |
3 years- 4 years | 1.35 | 1.15 | 0.45 | 1.50 | 1.65 | 1.25 | 1.40 | 1.10 |
4 years- 5 years | 1.50 | 1.10 | 0.40 | 0.40 | 1.75 | 1.35 | 1.45 | 1.05 |
5 years | 1.55 | 1.20 | 0.50 | 1.35 | 1.90 | 1.40 | 1.50 | 1.20 |
*Interest rates are subject to change at the discretion of the bank.
The minimum deposit amount is Rs.10,000. The minimum period is seven days, and the maximum is 10 years. This scheme is apt for people who would like a steady source of income at all times.
The minimum amount deposited is Rs.10,000. The scheme offers flexi-tenure with a minimum period of one year to a maximum period of 10 years. The principal amount deposited and the interest earned are repatriable. Preference of monthly or quarterly interest payment is available. Interest earned from this scheme is exempt from tax in India.
The minimum deposit is Rs.10,000. The scheme offers flexi-tenure with a minimum period of seven days to a maximum period of 10 years. Choice of monthly or quarterly interest payment is available.
The minimum deposit is 1,000 units of foreign currency. The minimum period is one year, and the maximum is five years. The principal and interest amounts are repatriable. Deposits are non-taxable in India. The currencies available are United States Dollar, Pound sterling, Euro, Japanese Yen, Australian Dollar, Canadian Dollar, Singapore Dollar, and Hong Kong Dollar.
Scheme Name | Basic Eligibility |
Fixed Deposit Scheme | Individuals, HUFs, companies, partnership firms, sole proprietorships, family trusts, associations, clubs and societies.(Individuals need to provide a nominee) |
NRE/NRI FD Scheme | Either a Non-Resident Indian or a Person of Indian Origin |
NRO Scheme | Either a Non-Resident Indian or a Person of Indian Origin |
FCNR Scheme | Either a Non-Resident Indian or a Person of Indian Origin |
Through Tax Saver Deposits, you can save taxes for five years on your deposits while earning the same interest as regular deposits. However, Tax Deductible at Source (TDS) will be applicable on the interest as per Income Tax Act if the interest exceeds Rs.40,000 in a financial year and or Rs.50,000 for senior citizen interest payable or reinvested per customer. TDS, as applicable, will be deducted from the principal amount if the accrued interest is not sufficient.
To exempt TDS on interest earned, submit Form 15G or Form 15H (in case of senior citizens). It is only applicable till the amount on the form does not exceed the minimum tax exemption limit.
Calculate the potential maturity amount and interest on your deposit using ClearTax’s FD Calculator
For interest rates between Rs.2 crore to Rs.5 crore, bulk FD rates would apply. The interest rates given below are effective from 17 July 2021.
Period | With Premature Withdrawal Facility (% p.a.)* | Without Premature Withdrawal Facility (% p.a.)* | For Senior Citizens (% p.a.)* |
7- 14 days | 3.00 | 3.00 | 3.00 |
15- 30 days | 3.25 | 3.25 | 3.25 |
31- 45 days | 3.40 | 3.40 | 3.40 |
46-60 days | 3.45 | 3.45 | 3.45 |
61-90 days | 3.50 | 3.50 | 3.50 |
91-120 days | 3.90 | 3.90 | 3.90 |
121-180 days | 3.90 | 3.90 | 3.90 |
181-270 days | 4.80 | 4.80 | 5.05 |
271 days-12 months | 5.10 | 5.10 | 5.35 |
12 months | 5.60 | 5.60 | 6.05 |
12 months 1 day-less than 18 months | 5.60 | 5.60 | 6.05 |
18 months-less than 2 years | 5.60 | 5.60 | 5.85 |
2-less than 3 years | 5.60 | 5.60 | 5.85 |
3-less than 5 years | 5.75 | 5.75 | 6.00 |
5 years and beyond | 5.75 | 5.75 | 6.00 |
*Interest rates are subject to change at the discretion of the bank.
For deposits above Rs.5 crore, please reach out to the nearest Yes Bank branch.
For deposits less than Rs.5 crore, the rates given below are effective from 5 July 2019.
Period (completed, in days) | Penalty Levied (%) |
Less than or equal to 181 | NIL |
182 and beyond | 0.50 |
For deposits more than Rs.5 crore, the penalty structure will continue at 0.25% for all periods.
To be eligible for Non-Resident Indian status, you need to reside outside the country on business or employment or stay outside India for an uncertain period. You are also eligible if you are deputed abroad by the Government or Public Sector.
To be eligible for Persons of Indian Origin status, you should either have held an Indian passport at any point in time, or your parents or grandparents are citizens of India. Alternatively, if you are a spouse of a PIO or an Indian citizen, you will be recognised as a PIO.
To avail TDS, you need PAN, Form 15G/H, and other exemption certificates.
Individuals who are residents of India with fixed deposits and savings accounts with only one holder.