Many banks from government to private are currently giving bumper returns on FD Rates. At present, due to the continuous increase in interest rates, investors are getting more interest on fixed deposits.
Some banks have even launched special FD schemes for their customers. Private sector lender Yes Bank has recently changed the interest rates on fixed deposits under ₹2 crore. According to the official website of Yes Bank, the new FD rates are effective from today, May 2, 2023.
After the revision, the bank is now offering interest rate on deposits maturing in 7 days to 10 years which ranges from 3.25% to 7.00% for general public and 3.75% to 7.75% for senior citizens. Apart from this, the bank is now offering a maximum interest rate of 7.75% for general public and 8.25% for senior citizens on deposits of 18 months to 36 months.
Yes Bank FD Rates
The bank is now offering an interest rate of 3.25% on fixed deposits maturing in 7 to 14 days, while the bank is now offering domestic term deposits maturing in the next 15 to 45 days. But is offering an interest rate of 3.70%. The interest rates offered by Yes Bank are 4.10% for deposits for 46 days to 90 days and 4.75% for deposits for 91 days to 180 days.
Deposits maturing between 181 and 271 days will now fetch 6.00% interest, while deposits maturing between 272 and 1 year will now fetch 6.25%. Yes Bank will pay an interest rate of 7.50% on FDs maturing between 1 year to 18 months and 7.75% on those maturing in 18 months to 36 months. The rate of interest applicable for term deposits between 36 and 120 months is 7.00%.
Senior citizens will get double benefit
On Yes Respect Fixed Deposit, senior citizens will get an additional interest rate of 0.50% over and above the regular rates for tenures ranging from 7 days to less than 3 years. Whereas on Yes Respect Plus Fixed Deposit, senior citizens will get an additional interest rate of 0.75% over and above the regular rates for tenures of 3 years to 10 years.
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