Increase in interest rates: Private sector bank Yes Bank has increased the interest rates on its fixed deposit products. These revised rates have come into effect from November 21, 2023. The bank has set this increase at 0.25%, providing an attractive option for depositors.
Variable interest rates for different tenors: The bank offers various interest rates on different tenors ranging from 7 days to 120 months. These rates start from 3.25% to 7.75% for the general public and from 3.75% to 8.25% for senior citizens.
7 days to 14 days: General – 3.25%, Senior Citizens – 3.75%
15 days to 45 days: General – 3.70%, Senior – 4.20%
46 days to 90 days: General – 4.10%, Senior – 4.60%
91 days to 120 days: General – 4.75%, Senior – 5.25%
121 days to 180 days: General – 5%, Senior – 5.50%
181 days to 271 days: General – 6.10%, Senior – 6.60%
272 days to less than 1 year: General – 6.35%, Senior – 6.85%
1st Year: General – 7.25%, Senior – 7.75%
1 year to 18 months: General – 7.25%, Senior – 7.75%
18 months to 24 months: General – 7.75%, Senior – 8.25%
24 Months 1 Day to 36 Months: General – 7.25%, Senior – 7.75%
36 months to 60 months: General – 7.25%, Senior – 7.75%
60 months: General – 7.25%, Senior – 8%
60 Months 1 Day to 120 Months: General – 7%, Senior – 7.50%
These new rates from Yes Bank may be attractive for investors who want to invest in FDs for stable returns, especially when interest rates have increased.