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Yes Bank Ltd revises multiple fixed deposit (FD) schemes to both regular and senior citizen customers. The Bank provides fixed deposit schemes for a tenure starting from a short-term period (7 days) to long-term (10 years).
The Bank has revised the interest rate on its term deposits which is effective from 3 June 2021. After the latest revision, Yes Bank offers an interest rate of 3.25 per cent on deposits maturing in seven to fourteen days, 3.5 per cent on 15 to 45 days, and 4 per cent on 46 to 90 days FDs. Yes Bank gives 4.5 per cent, 5 per cent on term deposits maturing in 3 months to less than six months and six months to less than nine months respectively.
For FDs with a maturity period of 9 months to less than one year, the Bank gives an interest rate of 5.75 per cent.
Term deposits maturing in 1 year to less than two years will fetch an interest rate of 6 per cent. FDs developing in 2 years to less than three years will give 6.25 per cent, whereas deposits maturing in 3 years to 10 years will give 6.50 per cent.
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Senior citizens continue to get 50 basis points higher interest rates than the general public. The Bank offers interest rates from 3.75 per cent to 7.25 per cent on FDs maturing in 7 days to 10 years.
Meanwhile, Yes Bank had reported a Rs 3,790 crore loss on a consolidated basis for the March quarter, as against a profit of Rs 2,665 crore in the year-ago period, as the asset quality reverses faced due to the COVID-19 pandemic forced the Bank to set aside money for potential loan losses.
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