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Today Date : Monday, May 20, 2024

Yes Bank launches Floating  Rate FD for Domestic Customers

Yes Bank launches Floating Rate FD for Domestic Customers

Yes Bank today announced the launch of Floating Rate Fixed Deposit, a novel product offering for all domestic customers. The rate of interest on this fixed deposit (FD) will be linked to the prevailing Repo rate, allowing the customers of the bank to enjoy dynamic returns on their fixed deposits.

It is a unique offering designed to benefit customers by enabling them with an asset class that offers the safety of a fixed deposit along with dynamic returns which are linked to the Repo rates published by the central bank. It can be availed for a tenure of 1 year to less than 3 years, as per the customer’s preference.

Commenting on the launch, Mr Prashant Kumar, MD & CEO, Yes Bank said, “One of the main advantages of this product is that the revision on the interest rate will happen automatically and will not require any manual intervention by the Bank or the customers.''
In order to book this novel floating rate fixed deposit, customers can give a missed call on 07127191191 or visit the nearest branch of YES BANK.

The Bank has also raised its interest rates on standard fixed deposit up to 6.5%* p.a. for regular customers and up to an enhanced rate of 7.25%** p.a. for Senior Citizens. *for a tenure of 18 months and above ** for a tenure of 3 years and above.