New Delhi: Retail inflation in India, as determined by the Consumer Price Index (CPI), increased from 7 per cent in August to a five-month high of 7.41 per cent in September 2022. RBI continues to increase repo rates in tranches from a month ago to control inflation. As a result, the interest rate offered on fixed deposits continues to rise. Lenders offer better returns to customers as people take and invest in fixed deposits as a safe and guaranteed return.
Following suit, Yes Bank launched special FDs offering a higher rate of interest. If you want, you can make good money by investing in FDs offered by the private lender.
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The Yes Bank special FD has a term of 20 to 22 months, and Yes Bank guarantees an interest rate on this special duration bucket of 7.25 per cent for the general public and 7.75 per cent for senior persons.
The fixed deposit interest rates are valid as of October 12, 2022, according to the Yes Bank website. The bank will pay an interest rate of 3.25 per cent on fixed deposits that mature in 7 to 14 days, and an interest rate of 3.70 per cent on FDs booked for 15 to 45 days.
A 4.10 per cent interest rate will be charged on deposits maturing in 46 days to 90 days, and a 4.75 per cent interest rate will be on deposits maturing in 3 months to 6 months.
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On FDs maturing in 6 months to 9 months and in 9 months to 1 year, respectively, Yes Bank is giving interest rates of 5.50 per cent and 5.75 per cent. For FDs maturing in 1 year to 18 months and in 18 months to 120 months, respectively, Yes Bank will offer interest rates of 6.25 per cent and 6.75 per cent.
On FDs due in 7 days to 36 months and in 36 months to 120 months, respectively, Yes Bank offers elderly people an additional interest rate of 50 basis points and 75 basis points.
