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YES bank FD rates: If you are looking for a safe way to invest without getting caught up in market fluctuations, Fixed Deposit of Banks may be the right choice for you.
On August 5, YES Bank made changes to its FD rates. The bank offers senior citizens an annual interest rate of up to 7.25 percent. YES Bank offers 1 percent higher interest rates for senior citizens compared to SBI.
YES Bank: How much interest on FD
YES Bank offers regular customers interest rates ranging from 3.25% to 6.50% per annum on deposits of less than Rs 2 crore. This interest rate is offered for different term plans ranging from 7 days to 10 years.
A regular customer will get a maximum interest rate of 6.50 per cent per annum on FDs for a period of 5-10 years. Senior citizens earn 7.25 per cent interest on FDs for a period of 5-10 years. These interest rates are applicable from 5 August 2021.
SBI: How much interest on FD
State Bank of India (SBI) offers regular interest rates of 2.90 per cent to 5.40 per cent on deposits of less than Rs 2 crore to regular customers. These interest rates range from 7 days to 10 years for different periods.
The regular customer will receive a maximum interest rate of 5.40% per annum on 5-10 years FD. 5-10 year FDs for senior citizens earn 6.20 per cent interest. These interest rates are applicable from 8 January 2021.
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YES Bank offers high interest rates
Speaking of large public and private sector banks, YES Bank is currently offering high interest rates on FDs. For FDs ranging from 7 days to 10 years, ICICI Bank offers 2.50% to 5.50%, HDFC Bank 2.50% to 5.50% and Axis Bank 2.50% to 5.75% per annum. Of this, ICICI Bank offers senior citizens up to 0.80 per cent interest.
Benefits of Banking FD
Banks’ Fixed Deposit / Term Deposit is considered as a safe investment. This is a good option for investors who want to invest safely without facing any risk in investing. Tax savings benefits under Section 80C are available on 5 year tax savings FDs. However, interest earned on FD is taxable.
(Note: Information on interest rates is taken from the banks’ website.)
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