From August of this year, Yes Bank has changed the interest rate on its term deposits. Yes Bank is currently offering 4.5 per cent on term deposits with maturities of three to six months, and 5% on those with maturities of six to nine months.
Term deposits maturing in one year to less than two years will earn 6%, those maturing in two years to less than three years will earn 6.25 percent, and those maturing in three years to ten years would earn 6.5 percent, according to the Bank.
On June 3 of last year, Yes Bank changed the interest rate on its term deposits. Yes Bank provides both ordinary and elderly residents a variety of fixed deposit options. It offers fixed deposit programmes with terms ranging from seven days to ten years.
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Senior Citizen FD Rates Have Been Revised
Senior citizens will receive a 3.75 percent interest rate on FDs with a 7 to 14 days maturity. Customers over the age of 65 who choose the 15-day to 45-day FD period would receive a 4% return. Senior folks may anticipate an FD interest rate of 4.50 percent for a period of 45 to 90 days. The associated maturity would be 5% if the elderly needed the FD for 3 months to less than 6 months.
Senior people will receive a 5.50 percent interest rate if they open an FD account for a period of 6 months to less than 9 months. If elders choose a 9-month to less-than-one-year package, the Bank would offer them a 5.75 percent interest rate. For the elderly, a fixed deposit account with an interest term of one year to fewer than 18 months would yield a 6.25 percent interest rate. Similarly, clients in the 18 months to 3 years group would have a maturity rate of 6.50 percent.
The highest time period for FD rates at YES Bank is 3 to less than 5 years and 5 to less than or equal to 10 years. Customers in the senior citizens group may expect an interest rate of 7% for the three to five-year period. Customers who choose the longest time frame, 5 years to less than or equal to 10 years, would receive a maturity of 7.25 percent, which is the highest rate offered by the Bank under its recently updated interest rates.
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Senior citizens continue to get interest rates that are 50 basis points higher than those obtained by the ordinary citizen group. The Bank’s senior citizen interest rates vary from 3.75 percent to 7.25 percent. The average interest rate for ordinary folks is 3.25 percent to 6.50 percent.
