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Yes Bank has raised interest rates on fixed deposits below 2 crore with effect from today, 10 August, the lender mentioned on its website. The bank will give a 3.25 per cent interest rate on deposits held for seven to fourteen days, and a 3.50 per cent interest rate on deposits for fifteen to forty-five days. The interest rate on fixed deposits maturing from 46 days to 90 days is 4.10% now, while the interest rate on deposits maturing from 3 months to less than 6 months is 4.75%.

Yes Bank will now provide a 6.25 per cent interest rate on deposits maturing in one year to less than 18 months. The bank increased the interest rate on term deposits maturing in 18 months to less than 3 years and 3 years to less than 10 years. These deposits will now fetch 6.75 per cent.

Yes Bank FD rates for senior citizens

Yes Bank gives senior citizens an additional 50 basis points (bps) cent over the regular rate on deposits maturing in 7 days to 3 years. Yes Bank also offers senior citizens an additional 0.75 per cent or 75 basis points more than the regular rate on deposits maturing in 3 to 10 years.

After today's hike, senior citizens will get an interest rate ranging from 3.75% to 7.50% on deposits maturing in 7 days to less than or equal to 10 years.

Yes Bank FD: Higher penalty charges on premature fixed deposits withdrawal

Yes Bank has hiked the penalty charges for premature withdrawal of fixed deposits (FDs). The new penalty charges are effective from August 8, according to the lender’s website. The lender raised the penalty for premature withdrawals of term deposits booked for a tenure of less than or equal to 181 days, to 0.50 percent from 0.25 percent earlier.

Yes Bank has also hiked the penalty for premature withdrawal of FDs with a tenure of more than 182 days to 0.75 percent from 0.50 percent earlier.

“Premature withdrawal penalty shall be applicable on all deposits booked / renewed for amount less than INR 5 Crore as per the below table," according to Yes Bank’s website.

The premature withdrawal penalty is not applicable to senior citizens.

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