Yes Bank Savings Account
If you are planning to get a Yes Bank savings account open, then you will get to experience several attractive benefits and features. Yes Bank is popularly known for its high Yes Bank savings account interest rates. Now the bank also allows individuals to open Yes Bank savings accounts online!
We’ll help you become more familiar with the Yes Bank savings account minimum balance and more today.
Yes Bank Savings Interest Rates
Yes Bank provides a varied interest rate to different customers depending on their savings account balance. Let’s take a closer look at those interest rates by going through the table given below.
|Particulars||Rate of Interest|
|The account balance of up to INR 1 lakh||5.00% per annum|
|The account balance of more than INR 1 lakh but less than INR 1 crore||6.00% per annum|
|The account balance of more than INR 1 crore||6.25% per annum|
Yes Bank also provides its customers with a number of different savings account options. These options are there to help meet the needs of all customers. This is why most customers prefer to open a Yes Bank savings account to meet their financial needs and access high-quality financial products and services.
Benefits and Features of Yes Bank Savings Account
As mentioned above, there are several benefits and features associated with a Yes Bank savings account. Some of these benefits and features are mentioned below.
- Customers can easily access NEFT and RTGS payment facilities through net banking in a hassle-free manner
- Customers get a debit card that comes along with exciting offers
- One can enjoy unlimited access to ATMs of the bank that are located throughout the country
- A higher return of up to 6% per annum is provided to all customers on savings accounts
- Customers can get quarterly payouts of their savings accounts interests
- Customers can use both net banking and branch facility to get free demand draft (DD) issuance
- One can pay all sorts of utility bills through their Yes Bank savings account
- Individuals get services like life insurance, purchase protection insurance, and card lost liability
- One can select an account number of his or her choice
- It is easier than ever for customers to apply for, maintain, and track their savings accounts easily
- Customers get free access to mobile and SMS banking
- The bank provides doorstep banking services to all customers
The Different Types of Yes Bank Savings Accounts
There are mainly seven different types of savings accounts that are offered by Yes Bank to all its customers. These types of savings accounts and their features are discussed below.
- Digital Savings Account: As the name indicates, the process of opening this account is very easy and it can be done without the use of any papers. This account comes with attractive interest rates on the balance that is present in the account.For this account, one can get free e-statements. Beyond this, one can also use net banking and mobile banking to access free services like NEFT, RTGS, and UPI transfers.
- Customizable Savings Account: Attractive interest rates are provided on the balance that a customer maintains within a customizable savings account. One also has the option to choose between account benefit packages and debit cards. There are several introductory offers and pricing options available with this account.
- Savings Value: With a savings value account, customers get unlimited access to all Yes Bank ATMs that are located throughout the country. Attractive interest rates are provided on the balance available in the account. This allows individuals to earn more.
- Yes Respect Savings Account: The Yes Respect Savings account has an average monthly balance of INR 5,000. A RuPay domestic debit card is provided for free with this account. High interest rates are provided with discounts and offers at several healthcare brands.
- Yes Grace Savings Account: This is a distinctive savings account that is provided to women. In this account, banking is free across all Yes Bank branches. Services like RTGS and NEFT transfers are also provided to women through net banking and mobile banking for free.In this account, a safe deposit locker is provided for free for the first year. The average monthly account balance is also waived off for the first year in the case of a Yes Bank Demat account. Free alerts through emails and SMS facilities are also available.
- Xlrate Savings Account: This is a savings account that is combined with a fixed deposit account. This account comes with attractive interest rates on the balance that is available in the account. In this account, there is an auto-renewal of the fixed deposit. Further, a single complimentary NIL AMB account is also provided for the entire family.
- My First Yes: My First Yes is a savings account that has an average monthly balance of INR 2,500. One gets unlimited access to all the ATMs of the bank through India. If an individual opens a fixed deposit, then the average monthly balance is waived off. Attractive interest rates are provided with this account.
What is Yes Pay?
There are many individuals who wish to open a Yes Bank account due to Yes Pay. Yes Pay is a digital wallet that has been launched by Yes Bank. This wallet facilitates smartphone and social media users to transact seamlessly for payments and receipts.
As you might have guessed, all Yes Bank customers and non-customers can register for this wallet and will receive a free virtual online card that can be used to make online transactions. Some online transactions that one can make through this wallet are DTH recharge, mobile recharge, purchase gift vouchers, purchase discount coupons, and pay other bills.
Apart from all this, some other benefits of using Yes Pay are mentioned below.
- Easily transfer funds to Yes Pay users or bank accounts
- Request money from the user’s contacts
- Split bills and expenses amongst a group with ease
- Set goals to contribute a specified amount regularly for in-app purchases
- Shop online at over 30,000 merchants with just a few clicks
- Get attractive reward points for all the transactions made through Yes Pay