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Home / Industry / Banking /  Yes Bank launches a new category of account for the entire family. Eligibility and other details here
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Mumbai: Yes Bank has launched its YES Family proposition enabling customers to care for the well-being of everyone in their family – with bespoke services and privileges meant to be enjoyed together as a family.

Yes Family has been thoughtfully curated to make everything from shopping and dining together to availing loans more convenient and rewarding for customers.

Commenting on the launch, Prashant Kumar, MD&CEO, YES BANK, said, “As family lifestyles witness a dynamic shift, we see enormous potential for family banking to evolve and keep up with the times. Recognizing that the financial needs and expectations of the modern family unit have changed, YES BANK has endeavoured to curate a program that reflects current realities and factors in practical considerations that come with intra-family financial interactions today. With YES Family, customers of varying income levels can collaborate and coordinate their spending together with their families, creating the opportunity for all family members to learn smart spending and fiscal responsibility. Through this proposition, we envisage increasing our monthly retail customer acquisition by 15% till December 2021."

YES Family: Key attractions 

The key attractions are family healthcare benefits; dedicated Relationship Manager for the entire family; flexibility to maintain minimum balance across family accounts; free domestic ATM withdrawals, fee waivers on digital transactions; YES Rewardz points on banking transactions that can be transferred within the family, and exciting cashback and lifestyle offers, among other features.

The proposition is available across YES Prosperity, YES Premia and YES FIRST programs – each of which is designed uniquely to cater to different customer segments.

Discounted locker rentals, competitive interest rates on fixed deposits, recurring deposits, home loans and auto loans along with offers on dining and shopping are among other benefits built into the proposition.

Eligibility

The YES Prosperity Family proposition is available to customers who maintain a combined average monthly balance (AMB) of 50,000; YES Premia Family for customers with an AMB of 2 lakh or a Net Relationship Value (NRV) of 10 lakh at a family level* while YES FIRST Family is available to customers maintaining AMB of 8 lakh or a NRV of INR 30 lakh at a family level*.

YES Prosperity Family

An average monthly balance of INR 50,000* and above across savings accounts or a Fixed Deposit of INR 5 lakh and above at a family level*

YES Premia Family

An Average Monthly Balance of INR 2 lakh* across savings accounts or Net Relationship Value of INR 10 lakh at a family level*

YES FIRST Family

An Average Monthly Balance of 8 lakh* across savings accounts or Net Relationship Value of INR 30 lakh at a family level*

 

 

 

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