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Business News/ Money / Personal Finance/  Yes Bank makes interest rate revision on fixed deposits: Details inside
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Yes Bank makes interest rate revision on fixed deposits: Details inside

The interest rates on resident term deposits of less than ₹2 crore have been revised by Yes Bank, a private sector lender. The bank announced the change on June 6, 2022, and now offers deposits with durations ranging from 7 days to less than 10 years at an interest rate of 3.25 percent to 6.25 percent to the general public and 3.75 percent to 7.00 percent to senior citizens.

As of the 6th of June 2022, Yes Bank now offers deposits with maturities ranging from 7 days to less than 10 years at interest rates ranging from 3.25 percent to 6.25 percent to the general public and 3.75 percent to 7 percent to elderly persons.Premium
As of the 6th of June 2022, Yes Bank now offers deposits with maturities ranging from 7 days to less than 10 years at interest rates ranging from 3.25 percent to 6.25 percent to the general public and 3.75 percent to 7 percent to elderly persons.

Yes Bank, a private sector lender, has revised its interest rates on resident term deposits of less than 2 crore. The bank announced the modification on June 6, 2022, and now provides an interest rate of 3.25 per cent to 6.25 per cent to the general public and 3.75 per cent to 7.00 per cent to senior citizens on deposits with terms ranging from 7 days to less than 10 years.

Yes Bank FD Rates

Yes Bank will offer a 3.25 per cent interest rate on deposits of 7 to 14 days and a 3.50 per cent interest rate on deposits of 15 to 45 days. Deposits maturing in 46 to 90 days will receive a 4.00 per cent interest rate, while deposits maturing in 3 months to less than 6 months will receive a 4.50 per cent interest rate. Yes Bank is currently offering a 4.75 per cent interest rate on deposits maturing in 6 months to less than 9 months and a 5.00 per cent interest rate on deposits maturing in 9 months to less than 1 year.

Previously, the bank offered a 5.75 per cent interest rate on deposits of 1 year to less than 18 months and a 6 per cent interest rate on deposits of 18 months to less than 3 years, but following the revision on June 6th, deposits of 1 year will earn a 5.75 per cent interest rate and deposits of 1 year 1 day to less than 3 years will earn a 6.00 per cent interest rate. Yes Bank will pay a 6.25 per cent interest rate on long-term deposits of three years to less than ten years.

Senior citizens will continue to get a 0.50 per cent rate benefit over and above the regular rate on deposits of 7 days to 3 years. Senior citizens will get an additional rate of 0.75 per cent on deposits maturing in 3 to less than 10 years, resulting in a maximum interest rate benefit of 7.00 per cent.

Yes Bank FD Rates
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Yes Bank FD Rates (yesbank.in)

RBL Bank, on the other hand, has announced a change in interest rates on fixed deposits. The bank is giving a standard rate of 3.25 per cent to 5.75 per cent on deposits maturing in 7 days to 240 months, and 3.75 per cent to 6.25 per cent for elderly people. Deposits maturing in 15 months will now get a maximum rate of 6.65 per cent for regular customers and 7.15 per cent for senior citizens, effective today, June 8, 2022.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 08 Jun 2022, 08:35 AM IST
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