Interest rates

Yes Bank revises interest rates on NRE deposits: Details here

For non-resident external filings (NRE) below 2 crore, private sector lender Yes Bank changed its interest rates. According to the bank’s official website, the new rates come into effect on October 3, 2022. Following the change, the bank now allows NRE deposits at a maximum interest rate of 7.50%.

Yes NRE bank deposits

The bank now pays an interest rate of 7.25% on NRE deposits maturing in one year to less than 18 months, while Yes Bank will pay a maximum interest rate of 7.50% on deposits maturing in maturing in 18 months to 24 months. The interest rate on NRE deposits with a maturity of 24 months to 10 years adjusted to 7.25%. When withdrawing FCNR, NRE and RFC FD before the end of the 12 month period, no interest is payable; however, NRE and NRO FD are excluded from the interest rate adapted to senior citizens. Yes Bank indicates that the interest rates for the monthly payment of interest will be reduced according to the prevailing rates and if the client prematurely withdraws the deposit, the interest rate prevailing on the date of the deposit, for the period for which the deposit was with the bank will be payable.

Show full picture

Yes NRE bank deposits (ouibank.in)

Yes Bank NRE RD Rates

On October 3, Yes Bank also updated NRE recurring deposit rates. The bank now offers an interest rate of 7.25% on DR NRE maturities of 12 to 15 months, while Yes Bank now offers an interest rate of 7.50% on DR NRE maturities of 18 at 21 months. Yes Bank now grants an interest rate of 7.25% on NRE deposits with a maturity of 24 months to 10 years.

Yes Bank NRE RD Rates

Show full picture

Yes Bank NRE RD Rates (ouibank.in)

According to Yes Bank, no interest is payable if NRE RD is withdrawn before the completion of 12 months. The minimum term is 12 months, and there are multiples of 3 months after that, up to a maximum term of 10 years. The minimum monthly payment is 1,000 rupees at Yes Bank.

All customer categories (eg Individual, Non-Individual, Senior, Staff, etc.) will be subject to a premature penalty. FD premature withdrawal penalty interest will be charged for partial and full withdrawals, depending on the type of withdrawal. Yes Bank levies a penalty of 0.50% on deposits with a term of 181 days or less and an advance penalty of 0.75% on term deposits with a term of 182 days or more.

Catch all the trade news, market news, breaking news and latest updates on Live Mint. Download the Mint News app to get daily market updates.

More less

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.