YES Bank offers a range of savings accounts that not only provide attractive interest rates but also come with a multiple investment benefits and features. Whether you are a senior citizen, a minor, a military member, or a woman, YES Bank has tailored accounts to suit your specific needs.
YES Bank Savings Account Interest Rate
YES Bank Savings Account Interest Rate for 2023.
| Balances | YES Bank Savings Interest Rate |
|---|---|
| Upto Rs. 1 lakh | 4.00% p.a. |
| Rs. 1 lakh – Rs. 10 lakhs | 4.25% p.a. |
| Rs. 10 lakhs – Rs. 1 crore | 4.75% p.a. |
| Rs. 1 crore – Rs. 25 crores | 5.00% p.a. |
Features and Benefits of YES Bank savings account
YES Bank doesn’t just offer interest rates; its savings accounts come packed with features that empower you financially.
- Minimum Account Balance: Unlike other savings accounts, the YES Bank Savings Account has a unique minimum balance requirement, ranging from INR 0 to INR 1,00,000.
- Account Balance Maximum: You’re not confined by a maximum balance limit.
- ATM Service: YES Bank provides an extensive network of ATMs across the country, allowing you to withdraw funds conveniently from both YES Bank and non-bank ATMs.
How to open YES Bank Savings Account?
The process of opening a YES Bank savings account is designed to be simple and hassle-free, offering you choices and convenience.
You can either visit your nearest YES Bank branch with your KYC documents or apply online. Opting for the online route comes with the added advantage of a swift and seamless doorstep documentation process. In other words, YES Bank brings banking to your doorstep.
Eligibility Criteria and Required Documents
Before you start on your savings journey with YES Bank, here’s what you need to know about eligibility and documentation.
- Eligibility: To open a YES Bank savings account, you need to be an Indian resident.
- Required Documents: The documents required for opening a savings account include identity verification documents (PAN Card, Voters ID, Aadhaar card, Passport, etc.), address verification documents, and recent photographs.
Types of YES Bank Savings Accounts
YES Bank understands that different individuals have different financial aspirations and lifestyles. That’s why they offer a variety of savings accounts to cater to your unique needs. Let’s explore some of the options:
Customizable Savings Account
The name says it all. The Customizable Savings Account empowers you to tailor your banking experience according to your preferences.
Benefits of Customizable Savings Account
- Appealing Interest Rates: Enjoy attractive interest rates that help your savings grow.
- Debit Card: Choose the debit card that suits you best from Element, Engage, or Explore.
- Pricing Alternatives: Say goodbye to minimum balance requirements by opting for FDs, RDs, or standing instructions for mutual fund investments.
- Benefits Package: Enjoy a comprehensive package that includes unlimited ATM usage, digital banking, family advantage, and branch privileges.
- YES Pleasures: Unlock special offers when opening a Demat account.
Digital Savings Account
Experience banking for the digital age with the Digital Savings Account.
Benefits of Digital Savings Account
- Instant Account Creation: Open an account instantly with a seamless and secure process.
- Virtual Debit Card: YES Bank’s virtual debit card simplifies online shopping.
- Easy Access: Manage your account effortlessly with YES Online, YES Mobile, YES Robot, and Whatsapp banking.
- 24/7 Fund Transfers: Enjoy the convenience of online fund transfers, including IMPS, NEFT, RTGS, and UPI.
- Special Deals: Avail special deals on Demat accounts and lockers.
Grace Savings Account
Empowering women with financial independence, the Grace Savings Account offers exclusive benefits.
Benefits of Grace Savings Account
- Lifestyle Advantages: Enjoy benefits worth more than INR 32,000 with the Explore debit card (free for the first year).
- Free Locker Use: Get one year of free locker usage.
- Demat Account: Wave goodbye to the annual maintenance charge for the first year.
- Family Benefit: Receive a complimentary nil average monthly balance savings account for your family.
- Seamless Transactions: Enjoy free YES Online, YES Mobile, and UPI transactions, along with the assistance of the YES Robot.
Respect Savings Account
Seniors deserve specialized banking, and the Respect Savings Account delivers just that.
Benefits of Respect Savings Account
- Lower Balance Requirement: Maintain an average monthly balance of just INR 5,000.
- Lifetime Free Debit Card: The Element Debit card comes with a lifetime of free benefits.
- Liquidity: Enjoy increased liquidity for your financial needs.
- Discounted Lockers: Avail discounts on locker services.
- Free Transactions: ATM cash withdrawals and branch transactions are free, complemented by YES Online, YES Mobile, and UPI transactions.
- 24/7 Assistance: Rely on the YES Robot for round-the-clock assistance.
XLRate Savings Account
Looking for high returns and liquidity? The XLRate Savings Account combines the best of both worlds.
Benefits of XLRate Savings Account
- Liquidity: Benefit from the auto sweep-in function for easy liquidity.
- Fixed Deposit Benefits: Experience the convenience of fixed deposit auto-renewal.
- Family Privileges: Get a complimentary nil average monthly balance savings account for your family.
- Free Transactions: Enjoy free ATM cash withdrawals and branch transactions, as well as YES Online, YES Mobile, and UPI transactions.
- 24/7 Assistance: The YES Robot is available at your service.
Value Savings Account
The Value Savings Account is your key to value-for-money banking, offering a range of benefits.
Benefits of Value Savings Account
- Competitive Interest Rates: Enjoy competitive interest rates.
- Loyalty Points: Earn up to 8,000 loyalty points on regular banking transactions.
My First YES Savings Account
Financial literacy begins at a young age, and the My First YES Savings Account is designed to kickstart this journey.
Benefits of My First YES Savings Account
- High Returns: Offer high returns for young savers.
- Financial Education: Educate youngsters about the basics of banking and savings.
- Parental Involvement: Parents can start saving for their child’s future.
- Flexible Limits: Debit card with flexible limits for pocket money.
- Minimum Balance Waiver: The average monthly balance requirement is waived with a fixed deposit.
YES Bank savings accounts reflect their commitment to understanding diverse financial needs. From customizable options to accounts designed exclusively for women and seniors, YES Bank empowers you to manage your finances efficiently and achieve your goals.
FAQ
Absolutely! YES Bank offers the convenience of opening a savings account online, saving you time and effort.
No, there is no maximum limit on the account balance for YES Bank savings accounts.
You’ll need identity and address verification documents, along with recent photographs.
The charges vary based on the type of savings account and its features. Be sure to explore the options to find the one that suits you best.
Absolutely! YES Bank’s Customizable Savings Account allows you to choose the debit card that suits your preferences.
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