Yes Bank Raises FD Rates: Know How They Compare With ICICI, SBI, HDFC

Yes Bank has recently raised its fixed deposit (FD) interest rates, effective from 21 November 2023. The updated rates apply to deposits below Rs 2 crore and encompass a range of tenures. General citizens can now avail interest rates between 3.25 per cent and 7.75 per cent, while senior citizens are offered rates in the range of 3.75 per cent to 8.25 per cent for FDs maturing in seven days to ten years.

The bank's official notice, outlining the revised FD rates, has been officially released on its website. Under the new rates, Yes Bank is set to pay 7.25 per cent on FDs maturing in one year, 7.50 per cent on deposits with a tenure of one year to less than 18 months and 7.75 per cent on deposits maturing in 18 months to 24 months.

Here is a breakdown of the revised Yes Bank FD rates:

• 7 days to 14 days: 3.25 per cent
• 15 days to 45 days: 3.70 per cent
• 46 days to 90 days: 4.10 per cent
• 91 days to 120 days: 4.75 per cent
• 121 days to 180 days: 5.00 per cent
• 181 days to 271 days: 6.10 per cent
• 272 days to < 1 year: 6.35 per cent
• 1 year: 7.25 per cent
• 1 year 1 day to < 18 months: 7.50 per cent
• 18 months < 24 months: 7.75 per cent
• 24 months to < 36 months: 7.25 per cent
• 36 months to < 60 months: 7.25 per cent
• 60 months: 7.25 per cent
• 60 months 1 day to <= 120 months: 7 per cent

Comparatively, Yes Bank's new rates outshine those offered by other major banks. For instance, ICICI Bank provides interest rates ranging from 3 per cent to 7.1 per cent, HDFC Bank offers 3 per cent to 7.20 per cent and SBI provides 3-7.1 per cent for general customers, with an additional 50 basis points for senior citizens on these deposits.