How to Close Yes Bank Fixed Deposit

If you have a bank account with YES Bank, then you can consider opening a Yes bank fixed deposit account which will allow you to maximise your savings over a period of time. Fixed deposits are considered to be a great investment option and is not only safe but also guarantees decent returns.

However, if you wish to close your fixed deposit account, then here are the steps you will have to follow to do the same.

Closing your YES Bank fixed deposit account on maturity

• You will have to visit the YES Bank branch nearest to you and fill the fixed deposit account closure form. Make sure you have signed the form before submitting it to the branch manager.
• You will have to attach all the relevant Know Your Customer (KYC) documents along with the fixed deposit account closure form. You will also be required to submit your proof of address and proof of identity form.
• The bank would have issued you a fixed deposit certificate or receipt on opening a fixed deposit account. The receipt acts as a proof of you having opened a fixed deposit account with the bank. The certificate will contain details such as the deposit amount, repayment tenure, interest earned. You will have to submit the receipt which the bank will verify. If the details are found to be correct, the maturity amount will be disbursed to your bank account.

Closing your YES Bank Fixed Deposit account before maturity

The process to close your YES Bank fixed deposit before maturity will be similar to the one you would have followed had your fixed deposit account attained maturity. You will have to submit a duly filled account closure form, KYC documents, and your fixed deposit certificate. However, you must note that the bank may charge you a pre-closure fee before closing your account and disbursing the calculated amount to your bank account.

FAQs

1. Will senior citizens be able to avail additional benefits on opening a fixed deposit account?

   Yes, senior citizens will be able to earn an additional interest of 0.75% on their deposits.

2. What is the maximum interest rate that I can earn on my fixed deposit?

   You can earn up to 7% interest rate on your fixed deposits that have a repayment tenure ranging between 2 years and 3 years.

3. Can I open a YES Bank FD account through net banking?

   Yes, you can open a YES Bank FD account through net banking.