Yes Bank Saving Account: Interest rates, Minimum Balance & Charges

The 5^th largest and well reputed private sector bank in India is YES Bank. Rana Kapoor and Ashok Kapur were two founders who founded this bank in 2004. This is the only bank in India that received Greenfield Bank License from Reserve Bank of India. The bank at present is a ‘Full- service Commercial Bank‘.

The most important part of the bank is that the bank has successfully built a Corporate Business, Financial Markets, Branch banking, Corporate Finance, Business & Transaction Banking across the country. With this wide extent of products, the also provides digital banking through its website and apps.

The bank offers different types of savings accounts to provide the best facility and to meet the multiple needs of the customers. The ‘customisable option‘ helps the customers to obtain multiple benefits & features they expect from the bank.

The customers of YES Bank enjoy three types of saving accounts namely Personal Saving Account, Salary Saving Account & the Custom Saving Account.

If you want to open a saving account, you have to go through with the following steps-

Step 1: With your personal data fill up the ‘savings account eligibility‘ form which is obtained online. After submission, the bank will check the eligibility of the applicant and then will generate a list of savings account option that is available for the applicant.

Step 2: In this stage the applicant can easily compare the ‘different options‘.

Step 3: When you choose the most suitable option for you, on the basis of your application YES Bank will activate your saving account within 2-3 working days and you will get a message regarding your account opening.

After successful opening of the YES Bank saving account, the account holder enjoys multiple benefits from the bank like:

• Through net banking facility enjoy the NEFT or RTGS payment system at free of cost.
• Avail your Debit with existing multiple offers.
• Enjoy unlimited access of ATM throughout the country.
• Higher rate of interest which is upto 6% per annum.
• Access mobile and SMS facility.
• Enjoy YES Bank banking services at your doorstep.

YES Bank maintains flexible interest rate on its savings account. The revision of Yes Bank saving account interest rates from the bank are like:

Yes bank saving accounts minimum balance:

Penalty Charges for not maintaining minimum balance:

Balance maintained is >50% of the requirement 5% of balance shortfall
Balance maintained is <=50% of the requirement 10% of balance shortfall

So, open an account with the bank and enjoy multiple benefits.