Yes Bank revises interest rates on savings accounts: Details here

Yes Bank, a private sector lender, has changed interest rates on its savings accounts. According to the bank’s official website, the new rates come into effect on September 17, 2022. After the change, the bank now offers an interest rate on savings bank accounts of up to 6.25%.

Yes Bank savings account rate

The bank guarantees an interest rate of 4.00% on daily savings account balances up to 1 lakh and an interest rate of 4.25% on daily savings account balances between 1,000,000 and 5,000,000. On savings account balances greater than 5 Lake and up 10 Lac, Yes Bank will now pay an interest rate of 5.00%, and on balances above 10 Lake and up 25 Lac, the bank is now paying an interest rate of 5.50%. The bank promises an interest rate of 6.00% on savings balances between 25 lakes and 1 crore. Yes Bank is now offering a 6.25% interest rate on daily savings account balances between 1 crore and 10 crore, and an interest rate of 6.00% on daily savings account balances between 10 crores and 25 crores.

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Yes Bank savings account rate (ouibank.in)

Yes Bank mentioned on its website that “the savings account interest rate is calculated daily, i.e. the closing balance of the account maintained in the type of savings bank account; the rate is specified by YES BANK in accordance with the guidelines of the Reserve Bank of Indian. The interest rate amount is calculated and rounded to the nearest rupee.”

“Payment of interest on the savings bank account is made quarterly. Thus, the interest rate on the savings account will be paid at quarterly intervals on June 30, September 30, December 31 and March 31 of each year,” Yes Bank said on its website.

YES BANK offers many savings account options with competitive interest rates. The bank offers a variety of savings account types, including Customizable Savings Account, Savings Value, Smart Salary Platinum, Smart Salary Exclusive, and Smart Salary Advantage. Benefits of opening an online savings account with YES BANK include access to mobile and internet banking, unlimited use of ATMs, debit/credit card, free utilities, savings rewards, a higher interest rate, and tax-free interest income on savings. account balances up to Rs. 40,000, depending on the bank.

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