Along with revising the interest rates on its term deposits, YES Bank is offering a plethora of fixed deposit (FD) options to both regular and senior residents. The new interest rates, which are in effect from June 3, range from seven days to 10 years. According to the recent adjustment, the bank will give 3.25 per cent on deposits that are maturing in 7 to 14 days;for FDs maturing in 15 to 45 days, it offers 3.50 per cent and it gives 4.00 per cent on deposits maturing in 46 to 90 days.
When it comes to term deposits, which will mature in 3 months to anything less than 6 months, the bank will offer 4.5 per cent. While FDs maturing in 6 months or less than 9 months will get 5.00 per cent.
YES Bank will offer an interest rate of 5.25 per cent to term deposits having a maturity period of 9 months to less than a year. The bank will further provide a special interest rate on deposits which will mature in 1 to 10 years, in case of both regular and elderly people. FDs with maturities ranging from 1 year to less than 3 years will give away a 6 per cent interest rate. The interest rate will jump up to 6.50 per cent for deposits maturing in 5 to 10 years,while term deposits which will mature in 3 years to less than 5 years will yield 6.25 per cent.
In the revised scheme, the senior folks continue to get interest rates that are higher than 50 basis points as compared to the regular citizens. YES Bank will provide an interest rate from 3.75 per cent to 7.25 per cent on FDs which will be maturing in 7 days to 10 years. Senior residents will receive a 75 basis point extra if their FDs will mature in three to ten years.