Yes Bank RD Calculator

The YES Bank RD calculator is a free online tool that determines the amount at RD account maturity depending on the interest rate, length of investment and the invested amount. You can use this to determine the optimal time frame and deposit quantity to maximize your money upon maturity.

How Does YES Bank RD Calculator Work?

Depositors can use the YES Bank Recurring Deposit calculator online to see how much of their deposits can earn in a pre-decided time. The RD calculator considers three factors: the maturity period, the deposit amount, and the interest rate.

YES Bank RD Calculator Formula:

The Yes Bank RD calculation formula listed below can also be used by an investor to manually calculate the maturity value:

The value of maturity is PX [(1 + RN-1)-(N*t) – 1].

In this case,

P = Monthly Amount of Deposit

R is the interest rate.

N = Total number of tenure-related quarters

t = The RD's tenure in years

Calculating Interest on YES Bank RD

Every quarter, interest is compounded and added to YES BANK deposits. Accordingly, if on May 1st, you create an RD account with YES Bank, the interest compounds on August 1st, November 1st, February 1st, and May 1st. This cycle is repeated up to the conclusion of the maturity period that you select.

How do I use the YES BANK RD calculator?

To compute Yes Bank RD interest rate returns using the online Yes Bank RD Calculator, the investor needs to follow the easy steps listed below:

Step 1: Launch the Policybazaar RD Calculator for Yes Bank

Step 2: In the calculator, choose the following information.

• Amount of the monthly recurring deposit
• Duration of the RD you invested in
• Current rates of interest for RDs

Step 3: The information below will be shown right away by the Yes Bank Recurring Deposit Calculator:

• Total amount spent over the term
• Interest accrued on the RD interest rates of Yes Bank
• Returns to maturity

Benefits of Using a YES Bank RD Calculator

The YES BANK RD calculator has a number of advantages. These include:

• You can use it on your smartphone, tablet, laptop, or desktop computer. 
• It is accessible online.
• Use of it is free of cost. 
• It's simple to use.
• Calculations without errors
• Rapid outcomes
• Comparing several maturity periods and interest rates is possible.

Factors Influencing Recurring Deposit Earnings

The YES Bank Recurring Deposit interest rate is determined by the following elements, which are explained below:

• The depositor's age- A senior citizen or someone over 60 who deposits money may be eligible to receive an additional 0.50% interest rate on their money.
• Maturity period- The maturity period is important in determining the interest earned on a particular RD account. For example, two YES Bank RD depositors have identical monthly deposit amounts. Nonetheless, one account holder has selected a 12-month period, while the other has a 24-month maturity period. As a result, the latter will receive higher interest on his deposits. This is because the interest rate offered is 7% for general residents and 7.5% for seniors for a 12-month maturity period. The interest rate is 7.75% for senior people and 7.25% for general citizens over a 24-month maturity term.
• RBI exchange rate- The interest rate on YES Bank RDs and the reverse repo rate set by the RBI are directly correlated. It's the rate at which commercial banks grant overnight loans to the Central Bank. Therefore, a high reverse repo rate would correspond to a high RD interest rate and vice versa.

How do you open an RD account in YES Bank?

To take advantage of Yes Bank's competitive RD rates, you can open an account offline by following these steps:

• Go to the Yes Bank branch that is closest to you.
• Ask the representatives for the RD account opening form.
• Correctly complete the application form by adding all required information.
• Send in the completed form, the first deposit payment, and all the necessary paperwork.

Your request to start a Yes Bank RD account will be handled afterwards. You can also use an RD calculator to determine the initial investment and tenure, which will help you get the most out of your assets.

How do you close an RD account online at YES Bank?

Yes, you can use the "Close A/c" page 

• under e-RD to close your RD account online. 
• e-RD accounts are created exclusively through e-RD. 
• The "Close a/c" tab under e-RD cannot be used to close an RD account that was created in any other way.

What documents are required to open an RD account in Yes Bank?

The documents listed below are some of the ones you'll need to provide Yes Bank to open an RD account:

• Identity verification documents, such as voter ID cards and Aadhaar cards
• Utility bills and passports are examples of address-proving documents.
• Passport-sized pictures
• Pan Card copies or Form 60/61

The reps can ask you to provide more documentation when opening an RD account. Additionally, the documentation needed may change depending on the kind of account you're opening.

Features of the Yes Recurring Deposit Scheme

Features of the RD Rates at YES Bank include: 

• The bank-approved RD rates for 2024 are compounded yearly.
• Tenure range is 6 months to 10 years. 
• RD account can be opened with a minimum deposit of Rs. 1000 per month.
• Seniors can take advantage of additional upto 0.75 interest rates. 
• The maximum amount that can be deposited is unlimited.