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YES Bank RD Calculator

The YES BANK RD calculator is a free online tool that helps you calculate the amount at maturity based on the interest rate and duration of investment. This will help you calculate the best period and deposit amount that will get you the maximum amount at maturity.

Benefits of YES Bank RD Calculator

There are several benefits to using the YES BANK RD calculator, such as:

  • It is available online and can be used from your mobile, tablet, laptop, or desktop
  • It is free to use
  • It is easy to use
  • Error-free calculations
  • Instant results
  • You can compare between different maturity periods with different interest rates

Factors Influencing YES Bank RD Interest and Maturity Amount

The rate of interest on your YES BANK recurring deposit will directly impact how much you will earn on maturity of the deposit. The following factors influence the interest rate:

  • RBI Reverse Repo Rate: The Reserve Bank of India’s reverse repo rate is the rate at which the RBI borrows money from commercial banks like YES BANK. This is directly linked with the RD interest rates. A low reverse rate would result in a low-interest rate on the RD and vice versa.
  • Deposit Maturity Period: The maturity period of your RD will determine how much your maturity amount will be as the interest rate varies from one tenure to another. For example, if you choose a 6-month maturity period, the rate of interest is 6.50% p.a. for general citizens and 7.00% p.a. for senior citizens. But if you choose a 2-year deposit period, the rate of interest offered to the general public is 7.00% for general citizens and 7.75% for senior citizens.
  • Depositor’s Age: Anyone above the age of 60 is offered an additional interest rate of up to 0.75% on their deposits.

Calculation of Compound Interest on YES Bank Recurring Deposit

YES BANK deposits accumulate interest on a compounding basis every quarter. This means that you open an RD account with YES Bank on 1 May, the interest compounds every 1 August, 1 November, 1 February, and 1 May. This cycle repeats up to the end of the maturity period as chosen by you. The formula for calculating the compounding interest is given below:

M = R x {(1 + n) x n – 1} / 1- (1 + i) (-1/3)

Where:

M = Maturity value

R = Deposit amount

n = Maturity period (in quarters)

i = Rate of interest divided by (4×100).

The YES BANK RD online calculator is based on this formula. So, using this calculation, you can find out how much you will earn in the scenario given below, which is:

If you open a YES BANK RD account with an initial deposit of Rs.2,500 for a period of 9 months at an interest rate of 7.00% p.a., your maturity amount will then be Rs.23,167.

Using the YES BANK RD online calculator, however, will give you an accurate and error-free calculation as compared to manual calculations. This will help you choose the best deposit amount and tenure for your needs.

YES BANK’s recurring deposit scheme promotes a regular and consistent habit of investing a fixed amount every month for a pre-defined period at the end of which you are paid back the principal amount deposited plus the interest on it. The duration varies from six months up to 10 years with the interest rate, as of 18 August 2020, ranging from 6.50% p.a. to 7.00% p.a., with senior citizens offered an additional interest rate of up to 0.75%.

YES BANK Recurring Deposit Interest Rates for General Public

The rate of interest for recurring deposits for Resident Indians for amounts up to Rs.1.99 crore per month is given in the table below:

Period of Investment for Recurring Deposit Interest Rate (per annum)*
6 months 6.50%
9 months 6.50%
12 months 7.00%
15 months 7.00%
18 months 7.00%
21 months 7.00%
24 months 7.00%
27 months 7.00%
30 months 7.00%
33 months 7.00%
3 years up to 10 years 6.75%

*Interest rates with effect from 18 August 2020

Rates are subject to change at the sole discretion of the bank

YES BANK Recurring Deposit Interest Rates for Senior Citizens

The rate of interest for recurring deposits for Resident Indians who are senior citizens for amounts up to Rs.1.99 crore per month is given in the table below:

Period of Investment for Recurring Deposit Interest Rate (per annum)*
6 months 7.00%
9 months 7.00%
12 months 7.50%
15 months 7.50%
18 months 7.50%
21 months 7.50%
24 months 7.75%
27 months 7.75%
30 months 7.75%
33 months 7.75%
3 years up to 10 years 7.25%

*Interest rates with effect from 18 August 2020

Rates are subject to change at the sole discretion of the bank

YES Bank RD Calculator FAQs

  1. Can I use the YES BANK RD calculator even before I open an RD account with the bank?
  2. Yes, you can use the YES BANK RD calculator even before you open an RD account with the bank. In fact, it is a free online tool that will help you decide which deposit tenure will give you the maximum amount on maturity by comparing the interest rates which vary for different tenures.

  3. Is the rate of interest already given in the RD calculator?
  4. No, the rate of interest will be different for different deposit tenures. For this reason, the interest rate field has been left blank in the RD calculator. You will have to input the interest rate yourself based on the period of deposit that you are interested to invest in.

  5. Where do I find the interest rates for YES BANK RDs?
  6. You can find the interest rates for YES BANK RDs on the BankBazaar page and it also given on this page for your reference.

  7. Can I change the deposit tenure on my RD after I start it?
  8. Once you have fixed and opened your RD account, you cannot change the duration of deposit until maturity.

  9. Can I increase or decrease my monthly investment once I open my YES BANK RD?
  10. Once you have decided and fixed the amount you are willing to invest every month in your YES BANK recurring deposit and have opened an RD account with the bank, you will not be able to change the deposit amount, whether by decreasing it or by increasing it.

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