FD interest rate up to 8.25%: YES Bank cuts fixed deposit rate by 25 bps on this tenure

FD interest rate up to 8.25%: Yes Bank has reduced fixed deposit (FD) interest rates by as much as 25 basis points (bps) for certain tenures on deposits below Rs 3 crore. These updated FD interest rates will take effect from November 5, 2024.

By Sneha Kulkarni, ET Online | Updated: Nov 06, 2024, 11.51 AM IST

YES Bank cuts fixed deposit rate by 25 bps on this tenure.

Yes Bank has cut fixed deposit (FD) interest rates by up to 25 basis points (bps) for specific tenures on deposits under Rs 3 crore. These revised FD interest rates are effective from November 5, 2024.

After the revision, regular citizens can now avail of FD interest rates ranging from 3.25% to 7.75%, while senior citizens are offered rates between 3.75% and 8.25%. The highest interest rate of 7.75% and 8.25% is provided on FD tenure of 18 months.

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The bank has reduced the fixed deposit interest rate on tenure of 18 months from 8% to 7.75%, down by 25 bps.

Latest Yes Bank FD interest rates

Fixed Deposit Interest Rates w.e.f. 05th November, 2024 (Less than INR 3 Cr)
Tenure	Regular	Senior Citizen**
	Interest Rates (%P.A.)*	Interest Rates (%P.A.)*
	Interest Rates (%P.A.)*	Interest Rates (%P.A.)*
7 days to 14 days	3.25%	3.75%
15 days to 45 days	3.70%	4.20%
46 days to 90 days	4.10%	4.60%
91 days to 120 days	4.75%	5.25%
121 days to 180 days	5.00%	5.50%
181 days to 271 days	6.10%	6.60%
272 days to < 1 year	6.35%	6.85%
1 year	7.25%	7.75%
1 year 1 day to < 18 months	7.50%	8.00%
18 months	7.75%	8.25%
18 months 1day to < 24 months	7.75%	8.25%
24 months to < 36 months	7.25%	7.75%
36 months to < 60 months	7.25%	8.00%
60 months	7.25%	8.00%
60 months 1 day to <= 120 months	7.00%	7.75%

Yes Bank FD booking details
The minimum amount to book a Fixed Deposit is Rs 10,000. The minimum tenure for reinvestment Fixed Deposit is 6 months and 1 day. Resident senior citizen earn additional interest 0.50% for tenure less than 3 years and 0.75% p.a. for tenure of 3 years and above on Fixed Deposits value less than Rs 5 crore.

Premature penalty on Fixed Deposits
Kindly refer the below table for applicable premature withdrawal penalty.
Premature withdrawal penalty shall be applicable on all deposits booked / renewed for amount less than INR 5 Cr as per the below table.

Tenure of Fixed Deposit (Completed)
Tenure of Fixed Deposit (Completed)	w.e.f. 03rd November 2023
Less than equal to 181 days	0.75%
182 days and above	1.00%

*Key Points:

Premature penalty will be applicable as per above regime for Senior Citizen customers who booked/renewed FD’s for period 5th July 19 till 15th May 22. Nil premature penalty will be applicable for Senior Citizen FD booked/renewed on and after 16th May 22.
For values less than Rs 5 Cr, existing penalty structure shall continue at 0.25% for all tenure & value buckets.
Premature FD withdrawal penalty interest will be charged for partial as well as full withdrawal and on FDs pre-closed via sweep-in facility for any amount.
Premature FD withdrawal interest will be calculated at the rate applicable for the period for which the deposit was held with the bank as on the date of deposit plus applicable penalty ,if any.

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Shivalik SFB offers interest rates between 3.50% to 8.30% for general citizens and for senior citizens, the bank offers interest rates between 4% to 8.80%. The highest interest rate of 8.30% and 8.80% is offered on tenure of 18 months to 24 months. The rates are applicable from October 24, 2024.