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How to Open Yes Bank Fixed Deposit Account

Updated 29 Aug 2023

In the evolving landscape of financial instruments, Fixed Deposits (FDs) continue to be a preferred choice for many due to their assured returns and relative safety. Yes Bank, one of India's prominent private sector banks, offers a range of FD products tailored to cater to the diverse needs of its customers.

 

Whether you're planning for a long-term goal or simply aiming to get better returns on your savings, opening an FD with Yes Bank could be a prudent step. This blog will guide you through the straightforward process of setting up your FD account with Yes Bank, ensuring you can start earning interest with ease.

Opening an FD with YES Bank

1) Internet Banking
Step 1: Visit www.yesbank.in and log in to retail net banking 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:

  • Select Source Amount
  • Select Deposit Amount
  • Select Branch Name
  • Select Deposit amount
  • Select Tenure
  • Select nomination Required
  • Select Sweep In Required (YES/NO)
  • Open FD

Step 3: OTP will be sent to your registered number, and your FD is been booked

 

2) Mobile App
Step 1: Log in to Yes Mobile
Step 2: Select Deposits in the options strip below
Step 3: Select Fixed Deposit
Step 4:

  • Select Source Account
  • Select FD type
  • Select Deposit Amount
  • Select tenure& Maturity Instructions (‘Auto Renew’ for easy Renewals)
  • Select Nomination Required
  • Select Sweep In Required (YES/NO)

Step 5: Enter MPIN to validate the 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

YES Bank FD Eligibility Criteria

The following individuals and entities are eligible to apply for a regular Fixed Deposit online:

  • Residents
  • Hindu Undivided Families
  • Sole Proprietorship Firms
  • Partnership Firms
  • Limited CompaniesTrust Accounts
  • Non-Resident Indians
  • Minors with guardianship.

Documents Required

Identity Proof

  • Aadhaar Id
  • Passport
  • PAN Card
  • Voter ID Card
  • Driving License
  • Government ID Card
  • Photo Ration Card
  • Senior Citizen ID Card
     

Address Proof

  • Passport
  • Telephone Bill
  • Electricity Bill
  • Bank Statement with a cheque
  • Certificate ID Card issued by Post Office

FAQs

Is the ₹ 5 lakh DICGC insurance cover applicable separately for every bank?

DICGC insures all kinds of fixed deposits up to a limit of ₹ 5 lakhs per account holder per bank. If an individual's deposit exceeds ₹ 5 lakhs in a single bank, only ₹ 5 lakhs, including the principal and interest, will be paid by DICGC if the bank becomes bankrupt.

What is the minimum & maximum tenure for Fixed Deposits (FD)?

The minimum tenure for an FD is 7 days, and the maximum is 10 years.

Is there any limit on sweep-in facilities?

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.

Is the overdraft facility available on a fixed deposit?

Yes, the minimum fixed deposit amount of ₹ 10,000 for a minimum tenure of 30 days.

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