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YES Bank Savings Account

YES Bank savings account provides a host of banking benefits including reward points for various transactions, lifestyle and privilege offers, trading and portfolio solutions, flexible easy accounts management, special banking facilities for senior citizens, along with competitive interest rate. You can make quick utility bill payments via Netbanking and enjoy many other features with a YES Bank savings account.

What is a Savings Account?

Yes Bank Savings Account

A savings account is the most common form of an interest-bearing deposit account which is held with a bank or NBFC that provides a nominal interest rate.

A savings account is easy to open and operate. Having a bank account is a safe way to store money while earning some interest on the money deposited.

There are various fees associated with a savings account. The minimum balance required, interest rate and allied fees and charges vary from bank to bank. In general, there is a limit on the number of withdrawals you can make from the account each month.

On the other hands, savings accounts are not lucrative in the sense that they are the least profitable type of short-term investments. The interest on a savings account is far less when compared to that of an FD account. They are liquid investments and easily accessible in times of need, they offer low yields comparison to other savings channel.

Features and Benefit of YES Bank Savings Account

There are various benefits to having a savings account with YES Bank. Following is an overview.

  • Get the benefit of safety when you store your cash in a savings account
  • YES Bank Savings account comes with innovative financial solutions, with a host of offers.
  • Different savings account for different needs
  • Access your account with ease via Net Banking, Mobile Banking and SMS Banking facilities.
  • Enjoy free utility Bill Payment via Netbanking
  • Get unlimited access to ATMs all over India
  • Get rewarded for savings
  • Get a free Debit cum ATM card
  • Earn a higher return of up to 6% p.a. on your YES Bank Savings Account, enabling your savings to grow faster

Types of YES Bank Savings Accounts

Customizable Savings Account

  • The customer has the freedom to choose his/her preferences based on lifestyle and banking needs
  • Interest rate of 6% per annum on account balance
  • You have the freedom to choose your debit card, pricing option and account benefit packages
  • Based on the relationship with the bank, the customer gets auto-upgrade benefits
  • Platinum debit card, Titanium plus debit card, Titanium debit card or RuPay domestic debit card are available

Smart Salary Exclusive

  • Higher return of 6% p.a. on Savings Account Balance
  • No minimum balance required
  • Debit Card with exciting offers like discounts on dining, shopping etc.
  • Unlimited access to ATMs of any bank across India
  • Tax-free interest income up to Rs.10,000
  • Withdrawal limit of up to Rs. 75,000 per day on domestic and international ATM transactions

Smart Salary Platinum

  • No minimum balance maintenance required
  • Higher return of 6% p.a. on Savings Account Balance
  • Debit Card with exciting offers
  • Unlimited access to ATMs of any bank across India
  • ATM withdrawal limit up to Rs 1 Lakh
  • Zero balance account can be opened for spouse, children and parents

Smart Salary Advantage

  • Tax-free interest income up to INR 10,000 on Savings accounts
  • Free Demand Draft issuance up to defined limits through Branch and NetBanking
  • Higher return of 6% p.a. on Savings Account Balance
  • Zero balance account
  • Free unlimited ATM transactions
  • Free Titanium debit card

Savings Value

  • Interest rate of 6% per annum
  • Tax-free interest income up to Rs.10,000
  • Unlimited access to ATMs of any bank across India

My First YES

  • A savings and investment solutions for your child
  • Comes with 'YES Pocket Money' feature that helps to automatically transfer money from the parent account to the child account
  • Average Monthly Balance (AMB) requirement of just INR 2,500
  • Higher return of 6% p.a. on Savings Account Balance
  • Children in the age of 1 day to 18 years are eligible for the account

YES Family

  • A savings and investment solutions for today’s women
  • 25% off on Locker hire charges
  • 0.50% cash back on all purchases through Debit Card
  • Free personalised cheque book
  • Free demand draft account
  • Free RTGS/NEFT payment facility through net banking
  • Free utility payment facility
  • Quarterly interest pay-out

YES Honour

  • Savings Solution for the senior citizen
  • 40% off on Locker hire charges
  • Higher return of 6% p.a. on Savings Account Balance
  • No minimum balance required
  • Tax-free interest income up to Rs. 10,000

YES Bank Savings Account Minimum Balance

The minimum balance required in a YES Bank savings account differs with each kind of account. It is advisable to contact the bank directly for details. Following is an overview:

Type of Savings AccountBalance Required
Smart Salary ExclusiveAverage Monthly Balance (AMB) Rs. 1,00,000
Savings ValueAMB Rs. 5000
Smart Salary AdvantageAMB Rs. 10,000
My First YESAMB Rs. 5000
YES HONOURNIL

YES Bank Savings Account Interest Rate

YES Bank savings account comes with interest rates of up to 6%. It will be applicable on savings account balances below Rs.1 crore. Do keep in mind that the rates are subject to change at the sole discretion of the bank.

YES Bank Savings Account Charges

Different YES Bank savings accounts have a different schedule of charges. You can contact YES Bank directly for the most up to date charges.

How to open a YES Bank Savings Account

YES Bank savings account opening is easy and hassle-free with options to open an account online or in person at the nearest branch.

You can walk into your nearest YES Bank branch with your KYC documents or choose to apply for a savings account online. If you apply online, you have the added advantage of a quick and hassle-free doorstep documentation process. In other words, the bank comes to you!

YES Bank Savings Account FAQS

1. What is the best interest rate on a YES Bank saving account?

The interest rates can go up to as high as 6%. For the latest interest rates, it is advisable to contact the nearest YES Bank branch.

2. What is the eligibility for the Yes Respect Senior Citizen savings account?

The applicant has to be a resident Indian above the age of 60 years at the time of application.

3. How can I upgrade my Savings Account from one kind to the other?

You can choose to charge the type of savings account by contacting your nearest YES Bank branch.

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