Yes Bank shocks customers, increases penalty on premature FD withdrawal

Yes Bank has changed the rules for premature FD withdrawal. The bank has increased the penalty on premature withdrawal of FD with amount less than Rs 5 crore.

In such a situation, now on mature withdrawal of FD in the bank, more charges will have to be paid than before. According to the information available on the bank’s website, now a penalty of 0.75 percent will be imposed on premature withdrawal of FDs with maturity of 181 days and less. Earlier it was 0.50 percent. 

At the same time, a penalty of one percent will be imposed on premature withdrawal of FD with maturity of 182 days and above. Earlier it was 0.75 percent. At the same time, no penalty of any kind will be charged on premature withdrawal of FD made by senior citizens after May 16, 2022. 

Interest rates on FD in Yes Bank

• 7 days to 14 days – 3.25 percent 
• 15 days to 45 days – 3.70 percent 
• 46 days to 90 days – 4.10 percent 
• 91 days to 120 days – 4.75 percent
• 121 days to 180 days – 5.00 percent 
• From 181 days to 271 days – 6.10 percent
• From 271 days to less than a year -6.35 percent 
• One year -7.25 percent 
• One year one day to less than 18 months – 7.50 percent 
•  From 18 months to less than 24 months – 7.75 percent 
• From 24 months to 60 months -7.25 percent 
• From 60 months one day to 120 months -7.00 percent 

The bank is giving additional interest ranging from 0.50 percent to 0.75 percent to senior citizens.