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| Tenure | For General Citizen (p.a) | For Senior Citizen (p.a) |
|---|---|---|
| 7 days to 14 days | 3.25 % | 3.75 % |
| 15 days to 45 days | 3.7 % | 4.2 % |
| 46 days to 90 days | 4.1 % | 4.6 % |
| 91 days to 120 days | 4.75 % | 5.25 % |
| 121 days to 180 days | 5 % | 5.5 % |
| 181 days to 271 days | 6.1 % | 6.6 % |
| 272 days to < 1 year | 6.35 % | 6.85 % |
| 1 Year to < 18 Months | 7.5 % | 8 % |
 18 Month < 36 Months | 7.75 % | 8.25 % |
| 36 months to < 60 months | 7.25 % | 8 % |
| 60 months to <= 120 months | 7 % | 7.75 % |
1. Regular Fixed Deposits
A customer can open a fixed deposit with a minimum amount of ₹10,000 for a flexible tenure ranging from 7 days to 10 years. YES Bank provides an overdraft (OD) facility upto 90% on principal fixed deposit. The bank also gives sweep-in and sweep out facility to the investor with the option of reinvestment of FD to get quarterly compound interest. FD can be pre-matured in multiple of ₹ 1 with sweep-in facility.
2. Floating Rate Fixed Deposit
YES Bank has introduced a floating rate fixed deposit that gives the investor a unique opportunity to enjoy the safety of a fixed deposit combined with dynamic returns. Unlike a traditional Fixed Deposit (FD) where the interest rate stays the same throughout the tenure of the deposit, in this novel product the interest rate is linked to the prevailing REPO rate.
A Floating Rate FD can be opened with a minimum deposit amount of ₹ 10,000 and customers get the flexibility to choose their tenure from one year to less than three years. This FD comes with a premature withdrawal and an overdraft facility. Senior Citizens get an additional 0.50% interest rate for value less than ₹ 2 Crore & up to 0.45% for value of ₹ 2 Crore to less than ₹ 5 Crore.
3. YES Respect Fixed Deposit
This YES Bank FD provides an additional mark up on regular interest rate of 0.50% for senior citizens. An investor gets assured interest rates, independent of the market. The tenure is between 7 days to less than 3 years. The customer gets an overdraft facility upto 90% of principal fixed deposit amount.
4. YES Respect Plus Fixed Deposit
The tenure of these fixed deposits range from 3 years to 10 years. A senior citizen gets an additional markup on regular interest rate of 0.75%. Bank provides sweep-in & sweep-out facility and FD can be pre-matured in multiple of Rs 1 with sweep-in facility. One gets a regular income with monthly/quarterly payout options
5. Tax Saver Fixed Deposit
Tax Saver Fixed Deposits are a type of fixed deposits in which the depositor can claim a tax deduction under Section 80C of the Indian Income-tax Act, 1961(I-T Act). These deposits can be made through two types of accounts, namely; Single holder Type Deposits and Joint holder Type Deposits. If you opt for a joint mode of holding, the tax benefit is only available to the first holder. The maturity period of the tax saver fixed deposit is 5 years.
Deduction under section 80C of I-T Act is available to the Hindu Undivided Family (HUF) and individuals. Even senior citizens and NRIs can claim this tax deduction. It should be noted that the interest that you earn from this fixed deposit is not tax deductible and you cannot avail a loan against the same. The interest on tax saver fixed deposits can either be reinvested or is receivable on a quarterly basis.
Pros:
Cons:
Following individuals and entities are eligible to apply for a regular Fixed Deposit online:
Identity Proof
Address Proof
1) Internet Banking
Step 1: Visit www.yesbank.in and login to retail netbanking using your login id and password. After logging in towards your left hand side you will find OPEN NEW FIXED DEPOSIT Kindly click on that.
Step 2:
Step 3: OTP will be sent on your registered number and your FD is been booked
2) Mobile App
Step 1: Login to Yes Mobile
Step 2: Select Deposits in the options strip below
Step 3: Select Fixed Deposit
Step 4:
Step 5: Enter MPIN to validate transaction
3) FD with YES ROBOT
Step 1: Open Facebook Messenger or YES BANK Website www.yesbank.in
Step 2: Search for YES ROBOT on Facebook Messenger or Click the YES ROBOT icon at the bottom right of the screen on YES BANK website
Step 3: Say ‘Hi’ and Start Chatting!
Step 4: Type “Open Deposit” or “Open FD
Step 5: Login using Customer ID & OTP
Step 6: Select the deposit type and other required details
Tax Saver Fixed Deposit with YES Bank helps an individual to save taxes up to ₹ 1,50,000 saving under Section 80C of the I-T Act and earn interest as regular deposits. Interest income is taxable according to the slab rates of income tax and subject to a TDS of 10% if the income from FD exceeds ₹ 40,000 p.a. For senior citizens, the limit is ₹ 50,000 p.a. Also, if the investor fails to provide PAN Card details to the bank, the TDS rate will be 20%.
DICGC insures all kinds of fixed deposits up to a limit of ₹ 5 lakh per account holder per bank. In case an individual's deposit exceeds ₹ 5 lakh in a single bank, only ₹ 5 lakh, including the principal and interest, will be paid by DICGC if the bank becomes bankrupt.
Minimum tenure for a FD is 7 days and maximum is 10 years.
The maximum amount of a single fixed deposit which can be linked to a savings account through the sweep-in facility should be less than ₹ 1 crore.
Yes, minimum fixed deposit amount of ₹ 10,000 for a minimum tenure of 30 days.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.
