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** Disclaimer:  Yes Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

 

Founded in 2004 and headquartered in Mumbai, Yes Bank, one of the leading public sector banks in India, offers a comprehensive suite of banking products for corporate and retail customers. Among its wide range of personal banking products is the Yes Bank fixed deposit.

 

Since the Yes Bank FD rates are competitive, you can make use of this scheme to earn guaranteed returns on your deposit or to set up a steady source of additional or alternate income. Check out the Yes Bank FD interest rates below.

Yes Bank FD (Fixed Deposit) Interest Rates

Yes Bank FD rates start at 3.25% per annum, and go all the way up to 7.00% per annum. In general, the Yes Bank senior citizen FD rates are higher than the rates offered for non-senior citizens, by around 0.50% per annum.

 

The table below gives you the Yes Bank FD rates for senior and non-senior citizens, for deposits less than Rs. 2 crore.  

Tenure

Yes Bank FD rates for general public (% per annum)

Yes Bank FD rates for senior citizens (% per annum)

7 days to 14 days

3.25%

3.75%

15 days to 45 days

3.70%

4.20%

46 days to 90 days

4.10%

4.60%

3 months to less than 6 months

4.75%

5.25%

6 months to less than 9 months

5.50%

6.00%

9 months to less than 1 year

5.75%

6.25%

1 year to less than 20 months

7.00%

7.50%

22 months and a day to less than 30 months

7.00%

7.50%

30 months and a day to less than 36 months

7.00%

7.50%

36 months to less than or equal to 120 months

6.75%

7.50%

Disclaimer: The aforementioned Yes Bank interest rates are valid as of December 9, 2022, for deposits of up to Rs. 2 crore, and may be subject to change as per bank announcements.

 Calculator

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

Yes Bank FD Interest Rates and Interest Earned for Different Tenures

As you can see from the table above, the Yes Bank FD rates increase as the tenure of deposit increases. Want to know how this plays out practically? Check out the table below to see how the Yes Bank FD interest rates and the corresponding interest both increase as the tenure increases. The amounts have been calculated for a deposit of Rs. 1 lakh.

Tenure

Yes Bank FD Interest Rate

Interest Earned

Maturity Amount

1 Year

7.00% per annum

Rs. 7,229

Rs. 1,07,229

2 Years

7.00% per annum

Rs. 14,981

Rs. 1,14,981

3 Years

6.75% per annum

Rs. 22,376

Rs. 1,22,376

5 Years

6.75% per annum

Rs. 40,011

Rs. 1,40,011

Note: The interest rates specified above are applicable from December 9, 2022 onwards.

Yes Bank FD Interest Rates and Interest Earned for Different Tenures - Senior Citizen

Since the Yes Bank senior citizen FD rates are higher by around 0.50%, the amount of interest earned by senior citizen depositors also increases. Here is a preview of the Yes Bank FD interest rates and the corresponding interest for senior citizens, on a deposit of Rs. 1 Lakh.  

Tenure

Yes Bank FD Interest Rate

Interest Earned

Maturity Amount

1 Year

7.50% per annum

Rs. 7,763

Rs. 1,07,763

2 Years

7.50% per annum

Rs. 16,129

Rs. 1,16,129

3 Years

7.50% per annum

Rs. 25,145

Rs. 1,25,145

5 Years

7.50% per annum

Rs. 45,329

Rs. 1,45,329

Note: The interest rates specified above are applicable from December 9, 2022 onwards.

Yes Bank FD for Interest Rates and Interest for Different Deposit Amounts

Like the deposit tenure, the amount you deposit also affects the interest you earn. The higher the deposit amount, the more interest you will earn, even at the same Yes Bank FD rate. You can either reinvest the interest in the FD scheme, or you can choose to have it paid out on a regular basis.

 

If you are curious about how the interest amount varies for different deposit amounts, here are some details to give you more clarity on this. The interest has been calculated at the rate of 6.75% per annum.

Investment amount

Monthly interest

Total interest for 5 years

Rs. 50,000

Rs. 333.42

Rs. 20,005.75

Rs. 1,00,000

Rs. 666.85

Rs. 40,011.49

Rs. 5,00,000

Rs. 3,334.29

Rs. 2,00,057.46

Rs. 10,00,000

Rs. 6,668.58

Rs. 4,00,114.93

Rs. 15,00,000

Rs. 10,002.87

Rs. 6,00,172.39

Rs. 20,00,000

Rs. 13,337.16

Rs. 8,00,229.86

Yes Bank FD for Interest Rates and Interest for Different Deposit Amounts - Senior Citizen

For senior citizens too, the payout option in the Yes Bank FD scheme can be a good source of alternate income post retirement. Since the Yes Bank senior citizen FD rates are slightly higher, the interest amount will also be higher. Check out the interest amounts for different deposit amounts in case of senior citizen FDs.

 

The interest has been computed at the rate of 7.50% per annum, for a period of 5 years.  

Investment amount

Monthly interest

Total interest for 5 years

Rs. 50,000

Rs. 377.74

Rs. 22,664.72

Rs. 1,00,000

Rs. 755.49

Rs. 45,329.44

Rs. 5,00,000

Rs. 3,777.45

Rs. 2,26,647.2

Rs. 10,00,000

Rs. 7,554.90

Rs. 4,53,294.41

Rs. 15,00,000

Rs. 11,332.36

Rs. 6,79,941.61

Rs. 20,00,000

Rs. 15,109.81

Rs. 9,06,588.82

How is Yes Bank FD Maturity Amount Calculated?

The maturity amount in a fixed deposit is the amount that you will receive at the end of the FD tenure. If you have chosen the reinvestment option, the maturity amount will be higher than the initial deposit you made. You can use the formula shown below to compute the maturity amount.

 

Maturity Value = Principal amount * (1 + interest rate ÷ 4)(n * 4)

 

Here, ‘n’ stands for the tenure of investment.

 

Manually calculating the maturity amount using the formula shown above can be cumbersome. Fortunately, there is a free online tool you can use to compute this amount. This tool is the Yes Bank FD calculator, available on Bajaj MARKETS.

 

Here are the steps you need to follow to use the Yes Bank FD calculator on Bajaj MARKETS.

 

  1. Head to the Bajaj MARKETS website and visit the FD calculator page.

  2. Fill in the details needed (such as the interest rate, the amount of deposit, the tenure, etc).

  3. Then, select the other details like the interest payout frequency, the type of customer you are (senior or non-senior citizen) and the type of FD you want to open (cumulative or non-cumulative).

After these inputs are provided, the Yes Bank FD calculator computes and displays the total maturity amount and the total interest you will earn.

Eligibility Criteria for Opening FD in Yes Bank

Yes Bank’s fixed deposit facility is open to a number of different categories of persons. Here are the entities that are eligible to open an FD with the bank.

 

  • Resident individuals

  • Non-Resident Indians (NRIs)

  • Hindu Undivided Families (HUFs)

  • Sole proprietorships

  • Partnership firms

  • Companies

  • Associations, clubs, and societies

  • Family trusts

How to Open a FD in Yes Bank?

You can open a fixed deposit in Yes Bank through a number of channels, such as net banking, phone banking, WhatsApp and more. Here is a closer look at how you can open an FD with Yes Bank in different ways.

  • Opening Yes Bank FD via Internet Banking

  1. Visit the Yes Bank website and log into your account on the internet banking portal.

  2. Click on the ‘Open New Fixed Deposit’ option.

  3. Select the different details and particulars such as the source account, the deposit amount, the branch name, the tenure, nomination details and whether or not you want the sweep-in facility.

  4. Then, select the ‘Open FD’ option.

  5. You will receive an OTP on your registered number. Enter it to book your FD.

  • Opening Yes Bank FD via Yes Mobile

  1. Log into your Yes Mobile account.

  2. Select the ‘Deposits’ option and choose ‘Fixed Deposit.’

  3. Select the different particulars such as the source account, the FD type, the deposit amount, the tenure and maturity options, nomination details and whether or not you want the sweep-in facility.

  4. Then, enter the MPIN to validate your transaction and open the FD.

  • Opening Yes Bank FD via Yes Robot

  1. Visit the Yes Bank website or open Facebook Messenger.

  2. Click on the YES ROBOT icon at the bottom right corner on the website, or search for YES ROBOT on FB Messenger.

  3. Send a ‘Hi’ to initiate the chat with the bot.

  4. Type ‘Open Deposit’ or ‘Open FD.’

  5. Then, login using your customer ID and the OTP you will receive.

  6. Select the type of deposit and fill in the other details required to open your FD with Yes Bank.

  • Opening Yes Bank FD via Phone Banking

  1. Dial 1800 1200

  2. On the IVR menu presented to you, select ‘Savings Account Related Query.’

  3. Then, select the number corresponding to the option to speak to a customer care executive to open an FD.

  • Opening Yes Bank FD via WhatsApp

  1. Open WhatsApp on your mobile number registered with YES Bank and send a ‘Hi’ to 82912 01200.

  2. You will receive a menu, from which you need to select ‘Deposits.’

  3. Then, select the ‘FD Booking’ option.

  4. Enter the FD amount.

  5. Then, enter the FD tenure in months or days, as needed.

  6. Enter ‘Confirm’ to book your FD with Yes Bank.

Features and Benefits of Yes Bank Fixed Deposit

In addition to the competitive Yes Bank FD rates and the higher rates of interest for senior citizens, the fixed deposit scheme from Yes Bank also has many other beneficial features. Check out the top benefits and features below.

 

  • Flexible tenure ranging from 7 days to 10 years

  • Guaranteed Yes Bank FD interest rates

  • Easy liquidity with the sweep-in and sweep-out facility

  • Overdraft facility up to 90% of the amount in your fixed deposit

  • Regular income with monthly or quarterly payout options

  • Auto renewal option to renew your investment at the end of the tenure

Who Can Invest in Yes Bank Fixed Deposit?

The Yes Bank FD facility can be availed be different entities such as those listed below -

 

  • Resident individuals

  • Non-Resident Indians (NRIs)

  • Hindu Undivided Families (HUFs)

  • Sole proprietorships

  • Family trusts

  • Associations, clubs, and societies

  • Partnership firms

  • Companies

Documents Required for Opening FD in Yes Bank

The documents required to open an FD in Yes Bank depend on the category of person applying for the deposit facility. Here is a list of the paperwork needed for different kinds of applicants.

  • Resident individuals:

Any valid proof of identity and proof of address

  • Hindu Undivided Family:

Any valid proof of identity and proof of address of the person who will operate the FD account

  • Partnership Firms:

The partnership deed and a letter from the partners allowing the representative to open and operate the FD account

  • Family Trusts:

A copy of the trust deed, registration certificate, and the resolution of the trustees authorising the representative to open and operate the FD account

  • Associations, Clubs, and Societies:

A copy of the by-laws of the Association or Club along with a copy of the resolution authorising the member to open and operate the FD account

Different Types of Yes Bank Tax Saving Schemes

Yes Bank also offers a tax saver FD scheme, where you can deposit a minimum amount of Rs. 10,000 and a maximum amount of Rs. 1.5 lakhs per financial year. The fixed deposit has a lock-in period of 5 years. You can deduct the amount deposited from your total taxable income up to Rs. 1.5 lakhs, as per section 80C of the Income Tax Act, 1961.

 

Apart from this tax saver scheme, Yes Bank also offers a variety of other FDs, such as -

 

  • Yes Respect Fixed Deposits

  • Yes Respect Plus Fixed Deposits

  • NRO Fixed Deposits

  • NRE Fixed Deposits

TDS on Yes Bank Fixed Deposit

Since the interest earned on your Yes Bank FD is a kind of income, tax will be deducted at source before the interest is paid out to you. This is true if your annual interest income from the deposit exceeds Rs. 40,000 if you are below 60 years of age, or Rs. 50,000 if you are 60 years or older.

 

But you can request the bank to not deduct TDS in case your total income does not exceed the basic exemption limit under the Income Tax Act, 1961. To do this, you need to submit Form 15G with the bank. In case you are a senior citizen, Form 15H is applicable instead.

 

Disclaimer: The information regarding Yes Bank FD rates, eligibility criteria, documents required, and other FD related processes are in effect as of January 4, 2022, but may be subject to change based on changes in the bank’s policies.

Fixed Deposit Details for Other Banks

Latest Bank FD News

Yes Bank Revises Fixed Deposit Interest Rates

Yes Bank has increased the interest rates on FDs of less than Rs.2 crores. The hike was a result of the Monetary Policy Committee hiking the repo rate by 35 bps to 6.25 percent on 7th December. The  revised rates stand at 3.25% for fixed deposits that mature in 7-14 days and 3.70% on deposits that mature in 15-45 days. Moreover, deposits that mature in 46-90 days will earn an interest of 4.10%, while deposits that mature in 3 to 6 months will earn an interest of 4.75%. 

 

- Dec 09, 2022

FAQs on YES BANK FD Calculator

  • ✔️Can I withdraw my Yes Bank FD prematurely?

    Yes. You can close your FD prematurely in case you need to. However, a premature withdrawal penalty will be applicable if you prematurely withdraw or close your FD after a period of 182 days or above.

  • ✔️Is it possible to extend my Yes Bank FD?

    You can choose the auto renewal option to remain invested in the FD scheme after the tenure is complete.  

  • ✔️Can I avail a loan against my fixed deposit in Yes Bank?

     Yes Bank offers an overdraft facility on fixed deposits of Rs. 10,000 or higher with a minimum tenure of 30 days.

  • ✔️What are the terms and conditions of payment in case of the death of the FD account holder?

     In case of the account holder’s demise, the deposit and its benefits will be transferred to the nominee mentioned in the account.

  • ✔️What are the different types of forms for a Yes Bank FD account?

     You can simply fill out an online Yes Bank FD application form to open an account.

  • ✔️Does Yes Bank offer any schemes for tax savings?

     Yes, you can invest in a 5-year FD that offers tax benefits under section 80C of the Income Tax Act, 1961.

  • ✔️How can I apply for a tax saving scheme in Yes Bank?

     You can apply for the Yes Bank tax saving FD through internet banking, phone banking, WhatsApp, Yes Mobile or Yes ROBOT.

  • ✔️Will TDS be deducted on interest from my Yes Bank FD?

     If you are not a senior citizen, TDS will be deducted if your interest during the year exceeds Rs. 40,000. In case you are a senior citizen, the interest limit is Rs. 50,000.  

  • ✔️How can I claim a TDS refund online?

     In case of excess tax deduction, you can claim a refund for the same on the income tax online portal.

  • ✔️How much time will it take for my TDS to be refunded?

     It typically takes between 3 and 6 months for the refund to be effected.

  • ✔️Can I avail the nomination facility under my Yes Bank FD account?

     Yes, you can and should appoint a nominee to your Yes Bank FD account.

  • ✔️Can I apply for a Yes Bank credit card against FD?

     You can apply for Yes Bank credit cards against FD, depending on the balance in your fixed deposit account. For instance, you can get the YES Prosperity Rewards Plus Credit Card against a fixed deposit of Rs. 30,000 or above. The YES Preferred Card, on the other hand, is available against an FD of Rs. 3,00,000 or above.