Courtesy-EconomicTimes
Several fixed deposit schemes for a tenure starting from a period of 7 days (short term) to 10 years (long term) is offered to both regular and senior citizens by the Yes Bank. The interest rate on it’s term deposit is been revised by the bank effective from 3rd June 2021.
On the deposits maturing in seven to fourteen days an interest rate of 3.5% is offered by the bank along with 3.5% on 15 to 45 days and for FDs of 46 to 90 days an interest of 4% is given. An interest rate of 4.5% and 5% is offered on term deposits maturing in the period of 3 months to less than 6 months and 6 months to less than 9 months respectively.
Along with this, an interest of 5.75% is offered for FDs with a maturity period of 9 months to less than a year. An interest rate of 6% will be fetched by the term deposits maturing in 1 year to less than 2 years. With this, 6.25% interest rate shall be offered to FDs maturing in 2 years to less than 3 years and 6.50% to deposits maturing in 3 years to 10 years.
A loss on consolidated basis for the March quarter of around ₹3,790 crore was reported by Yes Bank on Friday against a profit of ₹2,665 crore in the year ago period due to the asset quality reverse faced because of the Covid-19 pandemic’s pressure on bank to set aside money for its potential loan losses.
While 50 basis points higher interest rates than the general public are given to the senior citizens, for FDs maturing in 7 to 10 years, the bank offers an interest rate of 3.75% to 7.25%.