YES Bank Hikes FD Interest Rates By Up To 50 Basis Points; Check Latest FD Rates

Fasttervi

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posted on 1 year ago — updated on 1 second ago

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At Yes Bank, the latest FD interest rates are in the range of 3.25 per cent-7.5 per cent for the general public, and 3.75 per cent-8.00 per cent, depending upon the FD tenure

YES Bank has hiked its FD interest rates on select tenures by 25-50 basis points (bps) on deposits less than Rs 2 crore, with effect from February 21, 2023. According to the private sector lender’s website, the latest FD interest rates are in the range of 3.25 per cent-7.5 per cent for the general public, and 3.75 per cent-8.00 per cent, depending upon the FD tenure.

YES Bank’s latest FD interest rates on deposits maturing between 181 days and 271 days has increase by 50 basis points to 6 per cent, compared with 5.75 per cent. It has also raised interest rates on FD maturing between 272 days and 1 year to 6.25 per cent, against 6 per cent earlier. Here are the latest interest rates on FD:

Latest interest rates on fixed deposits less than Rs 2 crore at Yes Bank (per annum), effective from February 21, 2023:

7 days to 14 Days: 3.25 per cent (general citizens)/ 3.75 per cent (senior citizens)

15 days to 45 Days: 3.70 per cent (general citizens)/ 4.20 per cent (senior citizens)

46 days to 90 Days: 4.10 per cent (general citizens)/ 4.60 per cent (senior citizens)

91 days to 180 days: 4.75 per cent (general citizens)/ 5.25 per cent (senior citizens)

181 days to 271 days: 6.00 per cent (general citizens)/ 6.50 per cent (senior citizens)

272 days to less than 1 years: 6.25 per cent (general citizens)/ 6.75 per cent (senior citizens)

1 year to 15 months: 7.25 per cent (general citizens)/ 7.75 per cent (senior citizens)

15 months to less than 35 months: 7.50 per cent (general citizens)/ 7.71 per cent (senior citizens)

35 months 1 day to less than 36 months: 7.50 per cent (general citizens)/ 8.00 per cent (senior citizens)

36 months to 120 months: 7.00 per cent (general citizens)/ 7.75 per cent (senior citizens).

Banks have been raising their interest rates since early 2022 as the RBI is continuously increasing the key repo rate in order to control inflation in the country. Several banks, including SBI, ICICI Bank, HDFC Bank and SBI, have raised their interest rates on both deposits and loans multiple times in the recent past. The RBI MPC recently raised the key repo rate by 25 basis points to 6.50 per cent. With this, it has raised the repo rate six times by 250 basis points in total since May 2022.

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