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Yes Bank Savings Account

Source: Wikipedia

Saving is essentially important for everyone, irrespective of one’s financial position. YES Bank looks at the various aspects of a customer’s needs and has provided several different bank accounts to cater to each customer, along with one of the best savings account interest rates.

Features of Yes Bank Saving Account

Higher interest rate: 

Yes Bank offers an attractive interest rate of up to 6% to their savings account customers. Currently, only a few banks such as Kotak Mahindra Bank give a 6% interest rate on their savings account. The interest rate of most banks on their savings account hover around 3.5%.

Quarterly pay-out of Savings Account Interest: 

The interest rate on Yes Bank Savings Account is calculated at the end of the day daily closing balance. The interest earned on these savings account is credited to the account quarterly.

Earn loyalty reward points 

Customers can accumulate reward points by making transactions with select merchants. The reward points can be later redeemed to purchase different products of your choice.

Convenience in banking transactions

Carrying out a banking transaction with Yes Bank is extremely easy. Customers get access to free cash withdrawals on Yes ATMs.

Account-holders can avail free banking services at any Yes bank branch.

To carry out online transactions, customers can carry out transactions through RTGS/NEFT and IMPS facility.

With the help of Yes Robot, customers can avail 24*7 Personal Banking Assistant. The personal banking assistant can help to open Yes Bank Savings Account, Recurring Account, Fixed deposits etc along with other service requests.  

Interest rate on Yes Bank Saving Account 

Yes Bank offers an attractive interest rate on a savings account. The interest rate given depends on the total deposit available on savings account at the day closing. Yes bank gives three different interest rates based on the deposits. 

Deposit Interest Rate
Upto Rs. 1 Lakh 5.00%
Rs. 1 Lakh to Rs.1 Cr 6.00%
Rs. 1 crore and above 6.25%

How to open Yes Bank Saving Account

Individuals can apply for Yes Bank Saving Account online through the ‘open Savings Account’ form available on the bank’s website.

After you add the details, the bank representative will get in touch with you to help you open the Yes Bank Saving Account.  

Different types of Yes Bank Saving Account

Customizable Savings Account:

YES Bank offers its customers a Customizable Savings Account, which as the name suggests, allows customers to customize their savings account to meet their specific needs. This saving account is the first of its kind to give  customers the Power to Choose which services will aid them, rather than just offering the same generic banking products to all its customers. The features of this bank account are as follows:

  • The account is extremely easy to create. A customer can simply visit www.yesbank.in  or visit the any YES Bank branch.
  • Choose from a wide range of features based on your requirements and eliminate all unrequired account services.
  • Earn up to 6% interest annually, on the balance in your account.
  • Use your Power to Choose your own Debit Card from a variety of options, pricing options, packages to maximize your account benefits.
  • You can also avail Relationship Rewards by which your benefits are auto- upgraded.

Savings Value Account:

The Savings Value Account further enhances the value of your savings with a host of varied banking benefits.  The benefits include:

  • Easy to create. Create your Savings Value Account in a few taps.
  • Avail the Internet Banking facility, where you can access your saving account anytime, anywhere!
  • Earn high returns with a higher interest rate of 6% p.a.
  • As a savings account holder you are eligible to earn tax- free interest income up to Rs. 10,000 in your Savings Value Account.

Smart Salary Platinum Account:

Make banking an enjoyable experience by creating a Smart Salary Platinum Account with which you receive the best services and exclusive privileges. Paybacks of this savings account include:

  • This account is a zero balance account. This means, that you need not maintain a minimum balance in your account. Plus, you will not be penalized for maintaining a low balance in your account.
  • Moreover, in case of there being no credit in your account for over 3 consecutive months, your account will be converted into a Regular Savings Account with AQB (Average Quarterly Balance) requirement.
  • Make your money work for you! You can earn a high return with a savings account interest rate of 6% per annum.
  • You can earn up to Rs. 10,000 in your saving account as tax- free income. 
  • You are also eligible to receive account statements and e- statements at a pre- defined frequency at your mail address.

Smart Salary Exclusive Account:

Create a saving account with the best- in- class banking products and superior features. The benefits if this bank account include: 

  • There is no minimum balance requirement for this savings account.
  • You are entitled to a Domestic Gold Debit Card with this savings account.
  • Enjoy unlimited and free transactions at YES Bank ATMS or other Bank ATMS.
  • You can avail daily international and domestic ATM cash withdrawals up to Rs. 75,000.
  • You need not create a new Savings Account if you change your employer. You simply just need to send an email/ letter to any YES Bank Branch stating your name, account number and a statement that proves that you have joined the new corporation.
  • You are qualified to hold a joint account with your spouse/ parent or a blood relative.

Smart Salary Advantage Account:

Take advantage of your banking experience by making use of a wide range of products and benefits to suit your needs. The features of this account are:

  • View your account whenever you want with the YES Bank Net Banking facility.
  • You can avail the joint holder facility with your spouse/ parent or a blood relative. There is no charge for a supplementary Debit- cum- ATM card for a joint holder.
  • Use YES Bank’s IMPS facility to transfer money to any bank account at an instant.
  • You will receive a free Titanium Debit Card with this bank account, which you can use to access over 1.25 million ATMs and 25 Million merchants all over the country.
  • There is no charge for the first 5 transactions at other bank ATMs.

Along with the different types of savings account, YES Bank also offers an enriching banking experience with its expert financial solutions and professional advice facility.

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