YES Bank offers attractive savings account interest rates designed to help you grow your savings efficiently. Whether you are saving a small amount regularly or looking to deposit substantial sums, YES Bank provides flexible account options to meet diverse financial needs. This guide explains the latest interest rates, minimum balance requirements, account types, and more to help you choose the best YES Bank savings account.

What is YES Bank Savings Account?

A YES Bank savings account is a financial product that allows individuals to hold their money securely while earning a decent income from interest. It provides a range of features, including competitive interest rates, convenient access to funds. It also has specialised options for different customer groups, such as senior citizens and women.

Types of Savings Account in YES Bank

These are the different types of savings accounts available in YES Bank:

• YES Digital Savings Account
• YES Pro Max Savings Account
• YES Pro Plus Savings Account
• YES Respect Savings Account
• Pradhan Mantri Jan-Dhan Yojana
• YES Pro Savings Account
• My First YES Savings Account
• YES Essence Savings Account
• YES Digital Savings Account - Limited KYC

Features and Benefits of YES Bank Savings Accounts

These are the features and benefits of opening a YES Bank savings account:

• Benefit from free NEFT/RTGS payment facilities through net banking.
• Receive a debit card with exclusive offers.
• Enjoy unlimited ATM access across any bank nationwide.
• Earn higher returns of up to 7.00% p.a. on your savings account.
• Avail quarterly payouts on savings interest.
• Enjoy free demand draft (DD) issuance via net banking and branches.
• Pay utility bills conveniently using your YES BANK savings account.
• Access life insurance, protection insurance, and lost card liability protection.
• Choose your preferred account number.
• Thanks to advanced technology, you can easily apply, manage, and track your savings account.
• Benefit from mobile and SMS banking services.
• Take advantage of YES BANK’s doorstep banking services.

How to Open a YES Bank Savings Account Online?

To open a YES Bank savings account, you can complete the entire process online, eliminating the need to visit a bank branch. Follow these simple steps:

• Visit the YES Bank homepage.
• Select “Accounts” and “Savings Account” on the main page.
• Choose the savings account you wish to open and click “Apply Now”.
• Fill in the necessary details in the application form and click “Submit”.
• After submission, you will be prompted to generate your unique account number, which you will use for all future banking transactions.
• Once the application is submitted, ensure your KYC documents are ready.
• A bank representative will contact you to collect and verify your KYC documents within a few hours.

What are the Minimum Balances of YES Bank Bank Savings Accounts?

Follow this table to learn about the minimum balance requirement for different YES Bank saving accounts:

YES Bank Savings Account Interest Rate 2025

The latest YES Bank savings account interest rate 2025 is mentioned below:

YES Bank Savings Account Interest Rate for Senior Citizens

YES Bank offers the YES Respect Savings Account, specifically tailored for senior citizens. Although the savings account interest rates remain the same across customer categories, senior citizens receive additional benefits, including:

• A lower minimum average monthly balance requirement (₹5,000).
• Free lifetime Element Debit Card.
• Enhanced liquidity with higher cash withdrawal limits.
• Discounted locker facilities.
• Free ATM transactions and unlimited digital banking transactions via YES Online, YES Mobile, and UPI.
• 24/7 personal banking assistance through YES Robot.

Additionally, senior citizens receive higher interest rates on fixed deposits compared to regular customers.

Penalty for Not Maintaining Minimum Balance in YES Bank Savings Account

YES Bank levies charges if you fail to maintain the required average monthly balance (AMB). Here are the detailed penalty charges effective from May 1, 2024:

General Penalty Structure:

• Balance ≥ 100% of AMB: No penalty
• Balance between 50%-99% of AMB: 5% of the shortfall amount
• Balance ≤ 50% of AMB: 10% of shortfall amount (5% for Savings Value account)

Specific Account Penalties:

By checking the above tables, you will know the latest YES Bank saving account interest rate, minimum balance requirements, and penalty rates for keeping low balances. Generally, banks do not provide refunds of the AMB shortfall charges. Therefore, you should always keep an eye on your savings account balance. If you are facing any issues, you can reach the customer support team at 1800 1200 (toll-free number). 

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