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Yes Bank hikes FD rates: Private sector Yes Bank has given a big gift to investors. In fact, the bank has announced a fixed interest rate hike on deposits below Rs 2 crore. These interest rates have been increased by 25 basis points (bps). After this increase, now the common citizen will be able to avail the interest rate ranging from 3.25 percent to 7.75 percent. At the same time, senior citizens will get interest between 3.75 percent to 8.25 percent. These revised interest rates will be applicable from November 21, 2023.
These are the new interest rates
According to the Yes Bank website, the bank is now offering an interest rate of 3.25 percent for FDs maturing in seven to 14 days. Similarly, customers will get 3.70 percent interest on deposits maturing in 15 to 45 days. For longer term, deposits maturing in 272 days to one year will fetch interest at 6.35 per cent, while deposits maturing in one year will fetch interest at 7.25 per cent. The interest rate on deposits maturing in less than one year and 18 months is 7.50 percent. The highest interest rate for FD maturing in 18 months to less than 24 months has been increased from 7.50 per cent to 7.75 per cent.
Interest for senior citizens
Senior citizen FD interest rates range between 3.75 percent to 8.25 percent. The highest interest rate offered is 8.25 percent for a tenure of less than 18 months to 24 months. Let us tell you that the minimum amount to book a Fixed Deposit (FD) in Yes Bank is Rs 10,000. Interest is calculated from the value date to the maturity date. Customers can choose to pay interest monthly, quarterly or on maturity for FDs with a tenure of less than six months.