Indeed, the bank surprises clients by raising the penalty for early FD withdrawals

 Indeed, the bank surprises clients by raising the penalty for early FD withdrawals

Yes, the bank has raised the penalty to one percent for early withdrawals. Senior people are excluded from this, however.

Yes, the bank has modified the guidelines regarding early withdrawals of funds. The penalty for early withdrawal of an investment fund (FD) having a value less than Rs 5 crore has been raised by the bank. In this case, there will be more fees to pay than in the past upon the mature withdrawal of an FD from the bank. 

As per the details provided on the bank's website, early withdrawal of funds with a maturity of 181 days or less would now incur a 0.75 percent penalty. It was 0.50 percent earlier. Simultaneously, an early withdrawal penalty of one percent will be applied to FDs with maturities of 182 days or more. It was 0.75 percent earlier. In addition, older persons who prematurely withdraw their FD after May 16, 2022, would not be penalized in any way. 

Yes Bank's FD interest rates

3 quarters of a day to fourteen days 

Between 15 and 45 days – 3.70 percent 

Between 46 and 90 days – 4.10 percent 

4.75 percent, or 91 days to 120 days

Between 121 and 180 days – 5 percent 

6.10 percent, from 181 days to 271 days

6.35 percent from 271 days to less than a year 

A year is 7.25 percent

From one year and one day to less than eighteen months - 7.50% 

 7.75 percent from 18 months to less than 24 months 

7.25 percent from 24 months to 60 months 

120 months -7.00 percent to 60 months one day 

Senior folks might get extra interest from the bank in the range of 0.50 percent to 0.75 percent.