YES Bank has once again changed the interest rates on its fixed deposits (FDs). This is the second time in April that the bank has reduced FD rates.
The latest cut is by 0.25% on FDs of certain tenures, and the new rates are effective from 21 April 2025.
The highest FD interest rate has now dropped from 7.75% to 7.50%. These new rates are for deposits of less than ₹3 crore.
Second Rate Cut in April
Earlier this month, YES Bank had already reduced FD rates once. These changes come after the RBI reduced the repo rate by 25 basis points, bringing it down to 6%.
In response, the bank is adjusting deposit rates to manage its funding costs.
Some Interest Rates Increased Too
Interestingly, the bank has also increased interest by 0.25% on some medium- and long-term FDs.
For instance, FDs with a tenure between 12 months and less than 36 months will now offer 7.50% interest instead of 7.25%. For senior citizens, this slab now gives 8.00% interest.
New FD Rates for General Public
Here are the latest FD rates for regular customers:
7 to 14 days – 3.25%
46 to 90 days – 5.00%
181 to 271 days – 6.25%
272 days to <12 months – 6.50%
12 months – 7.00%
12 months 1 day to <36 months – 7.50%
3 to 5 years – 7.50%
5 years 1 day to 10 years – 7.00%
Senior Citizens Get Higher Rates
Senior citizens will continue to get up to 0.75% more than regular customers on all FDs. On FDs of 3 to 5 years, they can earn up to 8.25%, which is the highest offered rate.
Savings Account Rates Also Reduced
YES Bank has also reduced savings account interest rates as follows:
Up to ₹10 lakh – 3%
₹10 lakh to ₹25 lakh – 3.5%
₹25 lakh to ₹50 lakh – 4%
₹50 lakh to ₹100 crore – 5%
Interest is calculated based on the incremental balance in each slab. For deposits over ₹100 crore, you’ll need to visit a branch for details.
Due to these changes, customers should carefully choose the FD tenure to maximize returns.
