Yes Fixed Deposit Rate
Yes Fixed Deposit Rate - FD Rate in India
A Fixed Deposit (FD) is one of the most popular financial instruments among investors as it provides a higher rate of interest than a regular savings account. It is considered to be a safe, low-risk form of saving. Money can be deposited in an FD account for a period that typically ranges from 7 days to 10 years.
Having a Fixed Deposit account translates into greater savings, as money your money steadily earns money in the bank at a higher rate than a savings account but with the same level of safety. Yes Bank offers a range of Fixed Deposit schemes that gives you a good rate of interest, as well as flexibility.
Yes Bank Deposit Rates
The rate of interest paid on a fixed deposit varies according to the amount deposited, period and the issuing bank / NBFC.Yes Bank Interest Rates typically ranges from 4%-8.50% per annum.
The defining criteria for a fixed deposit is that the money cannot be withdrawn before maturity, unless on payment of a penalty. Once the deposit matures, the bank credits the original amount along with the interest earned to the bank account specified when the FD is opened. The money deposited earns a fixed rate of interest throughout the entire FD period (except for certain kinds of floating rate deposits).
Yes Bank FD rates
Following is an overview of Yes Bank Term Deposit Rates and Yes Bank Short-Term Fixed Deposit Interest Rates.
Yes Bank Interest Rates On Fixed Deposits 2015 – 2016:
(Do keep in mind that these interest rates could change at any time and can be changed at the sole discretion of the Bank. For the latest rates, it is advisable to check with Yes Bank directly.)
|Period||Interest Rates||Annualized Yield < Rs. 1 Crore|
|7 to 45 days||5.50%||5.50%|
|46 to 90 days||6.75%||6.75%|
|3 months to < 6 months||7.25%||7.25%|
|6 months to < 9 months||7.25%||7.31%|
|9 months to < 1 Year||7.25%||7.38%|
|1 Year to <= 10 years||7.50%||7.71%|
Yes Bank FD Interest Rates for Senior Citizens
Yes Bank offers special Senior Citizen FD Rates which is generally 0.05% above the FD rates for normal citizens.
Yes Bank Senior Citizen FD Rates:
|Period||Interest Rates||Annualized Yield < Rs. 1 Crore|
|7 to 45 days||6.00%||6.00%|
|46 to 90 days||7.25%||7.25%|
|3 months to < 6 months||7.75%||7.75%|
|6 months to < 9 months||7.75%||7.82%|
|9 months to < 1 Year||7.75%||7.90%|
|1 Year to <= 10 years||8.00%||8.24%|
Yes Bank Special FD Rates:
|Period||Regular||Annualized Yield||Senior Citizen||Annualized Yield for < Rs. 1 Crore|
|12 Months 10 Days to 12 Months 20 Days||7.75%||7.98%||8.25%||8.51%|
|18 Months 8 Days to 18 Months 18 Days||7.75%||7.98%||8.25%||8.51%|
|24 Months 12 Days to 24 Months 24 Days||7.75%||7.98%||8.25%||8.51%|
How to Calculate Yes Bank Fixed Deposit Interest
You can use online resources to calculate the interest accrued on your Yes Bank FD Deposit. There are several online sites that allow you to instantly calculate the interest earned without the hassle of manual calculation and number crunching.
You can also calculate the interest earned and the maturity value on the principal amount using the below formula. Following is the formula to calculate the interest earned in a Fixed Deposit account:
Calculate Yes Bank FD Rate
A = P x (1 + r/n)nt
I = A - P
A = Maturity Value
P = Principal Amount
r = Rate of Interest
t = Number of Years
n = Compounded Interest Frequency
I = Interest Earned
Yes Bank FD Premature Withdrawal Penalty
Breaking a fixed deposit before the maturity date is possible and might come in handy if you are in an urgent need for funds, as in case of a medical crisis. In such cases the bank will allow partial or complete withdrawal of the deposit before completion of the period of the deposit. No penalty is levied on premature withdrawal.
Yes Bank FD – FAQS
What is the tenure range for Yes Bank Fixed Deposit?
The tenure ranges from 7 days to as long as 10 years.
Is there any minimum amount that I have to give for opening a Fixed Deposit with Yes Bank?
Yes, you need to deposit at least Rs. 10000/- if you want to open an FD with Yes Bank.
Can I deposit additional amount in my FD account?
No. It is possible to deposit the amount only once. If you want to invest any additional amounts, you will need to open a new FD account.
What is the eligibility for opening an FD account in India?
All resident individuals, including minors, are eligible to open a fixed deposit account.
What are the documentation required to open an FD account in Yes Bank?
The documentation generally required is Identity proof, Address proof, Signature proof and Age proof.
I want to reinvest in my FD account. Is there any minimum tenure for reinvestment?
The minimum tenure for reinvestment is 185 days.
How can I open an FD account with Yes Bank?
You may opt for the following modes:
If you are an existing customer: through Net banking and Phone Banking.
If you are a new customer, you may visit your nearest Yes Bank Branch.
What are the disadvantages of opening a Fixed Deposit Account?
There are certain disadvantages to an FD account:
- The interest earned is taxable in line with the income bracket you fall under, unlike certain other kinds of investments instruments
- Returns are lower, when compared to other, more risky, investment instruments.
How can I save tax on my Fixed Deposit Account?
You can opt for a Tax saver FD scheme which comes along with a lock-in period of 5 Years. The interest rates are same as the regular FD Schemes.
Can I take a loan against my Fixed Deposit account?
Yes, it is possible to take out a loan against your FD account. You can avail of a loan in the form of an overdraft facility against your deposited amount. You can opt for this facility if you need to make a premature withdrawal from your FD account.