Yes Bank Changes Savings Account Interest Rates, Check Out New Rates Here

No one can predict when a financial need may arise, thus it is wise to give liquidity and returns equal weight when choosing an investment. This is why having a savings account is crucial, regardless of whether you are an employee or self-employed. Savings accounts are essential to our day-to-day financial life, and today opening one is a prerequisite to starting any financial journey, whether it be for investing or meeting urgent needs.

Yes Bank Savings Account

Several banks have announced an increase in interest rates in response to the Reserve Bank of India's (RBI) hike in repo rates, which is the primary benchmark rate of interest rates in India. A major private sector lender, Yes Bank, increase the interest rate on savings accounts. According to the bank's official website, the new rates are effective from 17 September 2022.

According to the Yes Bank's official website, the bank is now offering 4% on a daily balance up to Rs 1 Lakh. For daily balances above 1 lakh to 5 lakh, the bank will offer a 4.25% interest rate.

The bank is providing 5% on Savings Account daily balance above Rs 5 lakh up to Rs 10 lakh.

The bank provides 5.50% interest rate on the Savings Account balance above Rs 10 lakh up to Rs 25 lakh and for the daily balance of Rs 1 Cr to 10 Cr the bank is providing 6.25% interest rate on the Savings Account.

For balances above Rs 25 lakh up to Rs 1 Cr and daily balances above Rs 10 Cr up to Rs 25 Cr the bank is providing 6% interest rate.

Interest rates on Savings Account w.e.f. September 17, 2022

Daily Balance in the Savings Account (INR)	Applicable Interest Rates (p.a.)
	4.00%
>1 Lac to	4.25%
>=5 Lac to	5.00%
>=10 lacs to	5.50%
>=25 lacs to	6.00%
>=1 Cr to	6.25%
>=10 Cr to	6.25%

Source - yesbank.in

According to the bank, "For amounts of INR 25 Crore and above, please contact the branch or your designated Relationship Manager. Rates are subject to change at the sole discretion of YES BANK. Terms and Conditions apply."