Private sector bank Yes Bank has revised its fixed deposit interest rates for amounts below Rs 2 crore with effect from December 5, 2022. The new interest rates offered by the bank are now between 3.25% and 6.75% on tenures ranging from 7 days to 10 years.
The bank is also currently offering an interest rate of 3.75% to 7.50% for senior citizens on deposits maturing in 7 days to 120 months. Now people will get a maximum interest rate of 7% on deposits with maturity between one year and 3 years.
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The interest rate for FDs maturing in 7 to 14 days, the offered interest rate is 3.25%, and for 15 to 45 days tenure, the same is 3.70%. The interest rate offered on FDs maturing in 46 to 90 days is 4.10% and for the tenure of 3 to 6 months, the rate of interest offered is 4.75%.
Interest rates being offered on FDs with tenures 6 to 9 months and 9 months to 1 year are 5.50% and 5.75% respectively. Yes Bank will be offering an interest rate of 6.25% interest on FDs maturing in 1 year to 36 months will fetch an interest rate of 7% and those maturing in 36 months to 120 months, Yes Bank is offering an interest rate of 6.75%.
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Yes Bank also launched a special fixed deposit scheme on October 12, 2022, with a maturity period of 20 months to 222 months. The special FD scheme is still in practice and the general public will be offered an interest rate of 7.25% on these FDs while senior citizens will be offered an interest rate of 7.75% under the same scheme.
The recurring deposit interest rates offered by Yes Bank are also effective since December 5, 2022. The interest rates offered by the bank on RDs maturing in 6 months to 10 years range from 5.50% to 6.75% for the general public and 6.00% to 7.50% for senior citizens.
