Yes Bank revises interest rates on NRE deposits: Details here

 Yes Bank revises interest rates on NRE deposits: Details here

On October 3, Yes Bank also updated the rates for NRE recurring deposits.

• For non-resident external (NRE) deposits of less than ₹2 crore, private sector lender Yes Bank has revised its interest rates

For non-resident external (NRE) deposits of less than ₹2 crore, private sector lender Yes Bank has revised its interest rates. According to the bank's official website, the new rates will be effective from October 3, 2022. After the amendment, the bank is now allowing NRE deposits at a maximum interest rate of 7.50%.

Yes Bank NRE Deposit

The bank is now offering an interest rate of 7.25 per cent on NRE deposits maturing in one year to 18 months, while Yes Bank will offer a maximum interest rate of 7.5 per cent on deposits maturing in 18 months to 24 months. The interest rate on NRE deposits maturing in 24 months to 10 years has been adjusted at 7.25%. On withdrawal of FCNR, NRE and RFC FDs before the completion of 12 months, no interest is payable; Nevertheless, NRE and NRO FDs are excluded from the senior citizen friendly interest rate. Yes Bank states that the interest rates for monthly interest payments will be waived based on the prevailing rates and if the customer withdraws the deposit prematurely, the interest rate prevailing on the date of deposit, the period for which the deposit remains with the bank. Was passed, will be due. ,

Yes Bank NRE RD Rates

On October 3, Yes Bank also updated the rates for NRE recurring deposits. The bank is now offering an interest rate of 7.25 per cent on NRE RDs maturing in 12 to 15 months, while Yes Bank is now offering an interest rate of 7.50% on NRE RDs maturing in 18 to 21 months. Yes Bank is now offering an interest rate of 7.25% on NRE deposits maturing in 24 months to 10 years.

According to Yes Bank, if the NRE RD is withdrawn before the completion of 12 months, no interest is payable. The minimum tenure is 12 months, and thereafter in multiples of 3 months, the maximum tenure is up to 10 years. The minimum monthly installment in Yes Bank is Rs 1,000.

All customer categories (eg, individual, non-individual, senior citizen, employee, etc.) will be subject to premature penalties. Premature FD withdrawal penalty interest will be levied for both partial and full withdrawals, depending on the type of withdrawal. Yes Bank imposes a 0.50% premature penalty on deposits with tenor of 181 days or less and 0.75% premature penalty on fixed deposits with tenor of 182 days or more.