If you want to get maximum interest in return by depositing your money in a savings account, then there is good news for you. The country's private sector lender Yes Bank has changed the interest rates of savings accounts. After this change, the bank will now give an interest of up to 6.25% to its customers. According to the official website of Yes Bank, the increased new interest rates are applicable from September 17.
Yes Bank Savings Account Interest Rates
Banks now pay 4% on daily balance savings accounts up to Rs 1 lakh, 4.25% on daily balance savings accounts between Rs 1 lakh and Rs 5 lakh, 5% on daily balance savings accounts between Rs 5 lakh and Rs 10 lakh, and from Rs 10 lakh to 25 percent. Will pay an interest of 5.50% on Daily Balance Savings Account up to Rs. Whereas the bank will give 6% interest on daily balance saving account from 25 lakh to 1 crore, 6.25% on daily balance saving account from 1 crore to 10 crores, and 6% on daily balance saving account from 10 crores to 25 crores.
Interest to be paid on 30th June, 30th September, 31st December, and 31st March
Yes Bank has said that it will calculate the interest rates on its savings account on a daily basis. Whereas the interest rates on the savings account will be paid quarterly. According to Yes Bank, the interest rate will be paid on June 30, September 30, December 31, and March 31. On the other hand, Yes Bank is offering its customers different options for savings accounts. Yes Bank is offering its customers the option of Saving Accounts like Customizable Savings Account, Saving Value, Smart Salary Platinum, Smart Salary Exclusive, and Smart Salary Advantage.
