Yes Bank Fixed Deposits- Invest without risk

Yes Bank is a private bank in India . It has its headquarters in Mumbai Maharashtra. It was founded in 2004. It has a collective shareholdings of 29 %. Yes Bank has positioned itself as a Full service commercial bank, with corporate and institutional banking, financial markets, investment, branch and transaction banking, corporate finance and wealth management business line.

The Yes Bank fixed deposits are among one of the best FDs. A yes bank fixed deposit is a financial instrument which provides investors with a higher rate of interest than a regular savings account, until the maturity date. It is also known as term deposit or time deposit. They are kind of very safe instruments.

This financial institution provides fixed deposit to the customers who can deposit excess amount of money with the institution to earn attractive rates of interest. It is a steady source of income. This is the safest investment. The secure FDs provides greater earning with the flexibility of maintaining the funds in accessible units. The customer do not need to break the entire  deposit. The customer can do easy withdrawals of as cash without breaking the FD. This institution also offers a range of benefits to the customers.

The Yes bank fixed deposits interest rates are very high. They provide a interest of 7 per cent per annum. Interest on the deposits is compounded quarterly. The minimum amount of deposit accepted by bank is 1000 INR. It offers Yes Bank fixed deposit for different tenures. For senior citizens it offers higher interest rates than the other FDs interest rates.

Benefits of Yes Bank Fixed Deposits

• Minimum FD tenure: The amount of money can be deposit with the institution for a minimum time period of 7 days.

• Maximum FD time period: The money can be deposited with the bank for maximum 10 years.

• Benefit for senior citizen: The senior citizens are allowed an additional rate of interest of 0.50 percent like if the interest offered on general FDs is 7 %, then the interest offered to senior citizens will be 7.50 per cent per annum.

• Reinvestment: The principal amount along with the interest can be again re invested  to earn compounded interest through which the customer will earn a higher return.

• Premature withdrawals: The customer can make premature withdrawals from the FD6 account. There will be no charges against the premature withdrawals.

• Minimum amount of Withdrawal: If the customer want to withdraw some amount from his FD he can withdraw just even 1 INR per unit.

• Overdrafts against FD: The applicant can also avail overdrafts against the submittted amount at attractive interest rates. It provides liquidity of the funds to the customers.

• Auto Renewal Facility: This scheme also provides auto renewal facility wherein the funds are automatically reinvested in the scheme at the original terms and conditions, if there are no such instructions to the contrary on maturity.

Interest on Yes bank Fixed Deposits

• Interest on Short term: This financial institution offers  varied interest rates according to different tenures.

1. For a tenure of 30 days, the bank offer interest at the rate of 5.50 per cent.
2. For a tenure of 46 to 90 days, the bank offers interest at the rate of 7.10 per cent.
3. For a tenure of 91 to 80 days, the bank offers interest at the rate of 7.40 per cent.
4. For a tenor of 180 days to 9 months, the bank offers a interest of 7.75 per cent
5. For a tenor of 9 months to 1 year, the bank offers interest at the rate of 7.75 per cent

• Interest on long term FDs: It includes the tenure from 1 year to 20 years.

1. For a tenor of 1 year to 10 year the rate rises by 0.25 per cent. The rate offered at 8 per cent annum.
2. For a tenor of 2,3,4,5 and 20 years the interest rate remains same as 8 per cent
3. But a tax saver FD is provided at the rate of 8 per cent interest per annum for the funds which are locked in for 5 years.

• Interest rates for Senior Citizens: The Yes bank fixed Deposits offers an increased rate of .50 per cent to the senior citizens over the age of 60 years.

1. They can earn interest at the rate of 6 percent for funds submitted for 30 days.
2. They can earn at the rate of 8.50 per cent interest for the tenor from 3 years upto 5 years.
3. The benefit is only available to resident senior citizens who are 60 years or above in age.

Documents Required For Yes Bank Fixed Deposits

• Duly signed application form

• Id proof: Aadhar card/ Voter ID/ PAN card/ Driving license/ passport

• Address Proof: Rent agreement/telephone bill / electricity bill/ ration card

• PAN card

• Passport size photographs