Incorporated in 2004, Yes Bank has grown steadily to offer various types of products and services such as wealth management, investment banking and corporate finance among others. Headquartered in Mumbai, Yes Bank is the fifth biggest (private sector) bank with 630 branches spread across India.
Tax Saving Options Offered by Yes Bank:
Your choice of investments should encompass your tax saving goals as well. Your tax saving options will, however, depend on your age, income, lifestyle, financial goals and so forth. There are various tax saving instruments such as life insurance, health insurance, ELSS, ULIPS and RGESS among others.
Yes Bank offers various tax saving instruments as listed below:
Tax Saving Fixed Deposit
Equity-linked Savings Schemes
1.Yes Bank Tax Saver Fixed Deposit:
Yes Bank offers a five-year fixed deposit scheme with assured returns. Yes Bank offers competitive interest rates on its tax saver fixed deposit scheme. The minimum deposit amount is Rs.10,000 while the maximum deposit amount is Rs.1 lakh. Senior citizens can avail of an additional interest of 0.75% above the interest offered for regular depositors. You can avail of the option to reinvest the interest you earned on a quarterly basis.
2. Yes Bank Life Insurance:
Yes Bank offers life insurance policies which offer protection in the long term along with investment options. You can avail of tax exemptions at the time of growth and maturity.
3. Yes Bank Health Insurance:
Yes Bank offers a health insurance cover which helps you not only fund your medical emergencies but also save on tax
4. Yes Bank Equity-linked Savings Schemes:
Yes Bank offers equity mutual funds with a minimum lock-in period of 3 years. You can avail of tax exemption at all stages of the product’s lifecycle.