Yes Bank offers Tax Saver Fixed Deposits at lucrative rates of interest with special rates for senior citizens. You will also be eligible to enjoy the benefits of tax savings under Section 80C of the Income Tax Act, 1961.
The maturity period for the Tax Saver FDs is 5 years and the tax saving benefits can be enjoyed by individual holders, joint holders, HUF, and NRIs.
The rate of interest applicable to the Yes Bank Tax Saver FD is 7.25%* p.a. for regular customers and 8.00%* p.a. for senior citizens.
*Note: The rates of interest mentioned here are effective from July 2023. The rates are subject to change at the discretion of the bank.
The features and benefits of the Yes Bank Tax Saver Fixed Deposit Scheme can be summed up as follows:
Account type | Term deposit |
Amount | Minimum: Rs.10,000 Maximum: Rs.1.5 lakh (in one financial year) |
Period | Minimum: 5 years Maximum: 5 years |
Interest rate* | General citizens: 7.25% p.a. Senior Citizens: 8.00% p.a. |
Premature withdrawals | Not Available |
Nomination | Available |
*Note: The rates of interest mentioned here are effective from 31 July 2023. The rates are subject to change at the discretion of the bank.
You can use the Yes Bank FD Interest Rate Calculator to find out the maturity amount on the basis of the applicable rate of interest and the amount deposited.
You can also check the current Yes Bank Tax Saver FD Interest Rates before you can find out your returns on the invested amount.
Enter the amount being deposited, the applicable rate of interest, and the investment tenure in the online calculator and process the information to find out the maturity amount of the FD.
You can use Yes Bank Net Banking to open a Yes Bank Tax Saver FD Account online. You can follow the steps mentioned below:
Alternatively, you can also use the Yes Mobile application, Yes Robot (virtual chat assistant), and phone banking to book an FD account with Yes Bank.
Listed below are some of the most important information that you need to know before opening a tax saver FD account with Yes Bank:
Eligibility to Open a Fixed Deposit |
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Documents Required* |
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Benefits of Yes Bank Tax Saver FD |
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*Note: The list of documents is indicative. You might be required to provide additional documents for the process as per the requirement of the bank.
Yes Bank offers two different kinds of tax saver fixed deposit accounts. They are differentiated on the basis of the holder type of the account. The two accounts are single holder-type deposit accounts and joint holder-type deposit accounts.
Yes Bank allows you to open a Tax Saver FD account by using any one of the following methods:
Although Yes Bank allows its customers to make premature withdrawals from their FD accounts, you cannot make a premature withdrawal from the tax saver FDs. The lock-in period for the Yes Bank Tax Saver FD is 5 years.
Yes, you can use the phone banking number 1800 1200 to get in touch with the bank and eventually, get in touch with a representative of the bank who will walk you through the account opening process.
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