YES BANK Recurring Deposit (RD) 2025

The Recurring Deposit schemes offered by YES BANK have been especially designed to help you save and be prepared for unforeseen circumstances in the future.

A recurring deposit enables the depositor to deposit a fixed amount every month (in his or her RD account) and enjoy interest rates similar to those on fixed deposits.

Yes Bank customers enjoy highly flexible RD options at competitive rates of interest for investing a much smaller amount every month.

They are also entitled to additional benefits like TDS-free interest, a practical minimum tenure, and no upper cap on monthly instalments.

Types of Recurring Deposits offered by YES BANK

YES BANK offers two types of Recurring Deposit schemes:

They are:

1. Regular Recurring Deposit
2. NRE Recurring Deposit

Features and Benefits of YES BANK Recurring Deposits

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Regular Recurring Deposit:

1. The minimum monthly instalment amount is Rs.1,000 and thereafter, in multiples of 100.
2. There is no upper cap on the maximum monthly instalment amount.
3. The tenure ranges from a minimum of 6 months (and in multiples of 3 months thereafter) to a maximum of 10 years.
4. The interest earned on your RD is free of TDS (Tax Deductible at Source) deductions, as per the current income tax rules.
5. Interest rates are similar to that of Fixed Deposit rates.
6. You can pay the monthly instalments (for RD) easily by providing a one-time standing instruction from your YES BANK Savings Account.

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NRE Recurring Deposit:

1. Interest rates offered are similar to that of NRE Fixed Deposits
2. The minimum deposit tenure is 12 months (and in multiples of 3 thereafter) and maximum is 10 years.
3. The minimum monthly instalment amount is Rs. 1000 and thereafter, in multiples of 100
4. If the NRE Recurring Deposit is withdrawn prematurely, before the minimum tenure of 12 months, then interest is not payable on the same
5. The interest rates on NRE RD are subject to change with time (contact the bank for more details)
6. The interest earned on your NRE RD is free of TDS (Tax Deductible at Source) deductions, as per the current income tax rules

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Interest offered on YES BANK Recurring Deposit 

The interest rates that are offered for Recurring Deposit accounts opened at YES Bank are mentioned below:

Regular Recurring Deposit:

Tenure	Interest rate of general public (p.a.)	Interest rate of senior citizens (p.a.)
6 months	6.10%	6.60%
9 months	6.35%	6.85%
12 months	7.25%	7.75%
15 months	7.50%	8.00%
18months	7.75%	8.25%
21 months	7.75%	8.25%
24 months	7.25%	7.75%
27 months	7.25%	7.75%
30 months	7.25%	7.75%
33 months	7.25%	7.75%
3 years up to 5 years	7.25%	8.00%
5 years one day and above	7.00%	7.75%

Note: The rates mentioned below are for deposits below Rs.1.99 crore. They are effective from 21 November 2023.   

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How to open a Recurring Deposit account with YES BANK

To open a Recurring Deposit account with YES BANK, you need to visit the nearest branch. The bank will offer assistance and guide you through the entire process. For customers who already have a Savings Account with YES BANK, can open a Recurring Deposit or Goal based savings by just logging on to their Net Banking account. This is applicable only if the maximum monthly instalment amount is Rs.14,99,900.

Eligibility to open a Recurring Deposit with YES BANK

Any Indian citizen holding a Savings Account with YES Bank is eligible to open an RD account with the bank. To know more about the other eligibility criteria, you can contact the nearest YES BANK branch.

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Know more about Recurring Deposit

1. RD Calculator
2. RD Interest Rates
3. Post Office RD
4. Post Office RD Interest Rate

A good credit score can help you secure lower interest rates on loans and credit cards.

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FAQs on YES Bank Recurring Deposit

• What should I do in case I do not receive the RD advice?

  You must visit the nearest YES Bank in case you do not receive the RD advice.

• Can I open an RD account online?

  Yes, you can open an RD account online.

• Will the maturity amount be affected if I skip instalments?

  The maturity amount is based on the instalments that have been paid.

• Is it possible to skip an installment?

  Yes, it is possible to skip an instalment. The instalment can be paid later.

• How long will it take for premature closure of the RD account?

  You will need to visit the bank branch to get details about premature closure.

• Would it impact the amount of maturity if I miss payments?

  Yes, the maturity amount will be impacted if you miss payment as the amount due at maturity is determined by the number of installments, amount paid and the duration of the RD scheme. 

• Can I use the YES BANK RD calculator prior to opening a bank account for RDs?

  Yes, depositors can utilize the YES BANK RD calculator before opening an RD account with the bank which is a free online tool that compares interest rates across different deposit tenures, thereby helping you to determine which one will provide the most amount at maturity. 

• Does Yes Bank offer a facility for nominations?

  Yes, YES Bank offers a nomination feature and only one nominee is permitted per account whether an account is under a single person or a joint name. 

• What is a YES BANK Recurring Deposit (RD)?

  A YES BANK Recurring Deposit (RD) is a financial product where for a predetermined period the depositor can deposit a fixed amount monthly to earn interest on the deposited amount until maturity.

• What are the minimum and maximum tenures for a YES BANK RD?

  The minimum and maximum tenure for a YES BANK RD is six months and ten years, respectively. 

• What is the minimum monthly deposit amount for a YES BANK RD?

  Though there is no maximum limit for deposit amount for YES Bank RD scheme, the minimum monthly deposit amount for a YES BANK RD is Rs.1000. 

• What is the interest rate for YES BANK RD in 2024?

  Interest rates for YES BANK RDs vary based on the tenure and amount deposited and range from 6.10% to 8.00% for regular citizens and 6.60% and 8.50% for senior citizens. The rates change periodically and hence, it is recommended to check the latest rates on the YES BANK website or contact a YES BANK branch to deposit. 

• How is the interest in YES BANK RD calculated?

  The interest rate is compounded quarterly and is calculated based on the deposit amount, tenure, and applicable interest rate on a YES BANK RD scheme. 

• Can I open a YES BANK RD account online?

  Yes, through the YES BANK internet banking portal or mobile app depositors can open a YES BANK RD account online. 

• Is there a penalty for missing a monthly RD installment?

  Yes, the penalty may be charged by YES Bank for missing a monthly installment, which can vary based on the bank’s policy, but it is recommended to check with YES BANK for specific details.

• Can I close my YES BANK RD account prematurely?

  Yes, the depositor can prematurely close their YES BANK RD account which may incur reduced interest rate or penalty early withdrawal. 

• Is there a loan facility available to YES BANK RDs?

  Yes, a loan facility to RD accounts is offered by YES Bank, thereby allowing depositors to borrow a certain percentage of the deposited amount in case of any financial emergencies. 

• What happens if I continue my RD after the maturity period?

  The deposit amount may earn savings account interest rates, if depositors do not withdraw the maturity amount after the end of the RD term and therefore it is advisable to check the specific terms with the bank. 

• Can NRIs open a YES BANK RD account?

  Yes, subject to certain terms and conditions, Non-Resident Indians (NRIs) can open an RD account with YES BANK.