Yes Bank Updated FD Rates: After the RBI cut interest rates in its second consecutive MPC meeting, many banks have also started reducing their interest rates. In this process, private sector bank Yes Bank has announced new interest rates for its customers. These new rates came into effect from April 21. So, let’s find out how much return you will get if you invest ₹1 lakh in Yes Bank for 1, 3, or 5 years.
Yes Bank’s Latest FD Rates
According to Yes Bank’s website, customers can invest in fixed deposits for periods ranging from 7 days to 10 years, with interest rates varying from 3.25% to 8.25%. The bank offers an additional 0.50% interest to senior citizens. These new interest rates took effect from April 21.
How Much Return Will You Get in 1 Year?
- For a 1-year FD, Yes Bank offers 7% interest to regular customers and 7.50% for senior citizens.
- On an investment of ₹1 lakh, regular customers will receive a total return of ₹1,07,186.
- Senior citizens will receive ₹1,07,714.
How Much Return Will You Get in 3 and 5 Years?
For 3 and 5-year FDs, Yes Bank offers 7.50% interest to regular customers and 8.25% for senior citizens.
On ₹1 lakh investment:
- In 3 years, regular customers will get ₹1,24,972, while senior citizens will get ₹1,27,760.
- In 5 years, regular customers will get ₹1,44,995, while senior citizens will get ₹1,50,426.