Yes Bank Slashes Interest Rates On Savings Account By 25 Bps

Yes Bank, a private sector lender, has slashed its savings bank deposit interest rates by 0.25 percent, or 25 basis points (bps). The bank made this revision today, February 8, 2022, and the new interest rates are applicable to regular, senior citizen, rural, semi-urban, and urban savings accounts. Customers should be mindful that an average monthly balance (AMB) as specified by the bank on the 'Welcome Letter' of a savings account should be maintained in order to receive interest rate benefits. This interest will be calculated daily and credited quarterly to the savings account of a customer.

Yes Bank Savings Account Interest Rates

With effect from February 8, 2022, the bank will offer a 4.00 per cent annual interest rate on daily savings account balances of up to Rs 1 lakh. Previously, the bank offered a 4.50 percent interest rate on savings account balances of more than Rs 1 lac and less than Rs 10 lacs; however, the bank has maintained its 4.25 percent interest rate on this balance slab.

Whereas the bank previously offered a 5.00 percent interest rate on savings account balances of Rs >=10 Lacs to 1 Cr, the rate will now be 4.75 percent. The bank formerly had a daily balance slab of Rs >=1 Cr to Rs 100 Cr on which it offered 5.25 percent interest, but it has now divided this balance slab into two sections.

Yes Bank is now offering 5.00 percent interest on daily savings account balances of Rs >=1 Cr to Rs 25 Cr and 5.25 percent interest on daily savings account balances of Rs >=25 Cr to Rs 100 Cr.

Yes Bank Savings Account Interest Rates (Old)

The bank was providing the following interest rates on savings bank deposits from December 15, 2021 until today's modification.

Daily Balance in the Savings Account (INR)	Applicable Interest Rates (p.a.) w.e.f. 15th December'21
<=1 Lac	4.00%
>1 Lac to < 10 lacs	4.50%
>=10 lacs to < 1 Cr	5.00%
>=1 Cr to < 100 Cr	5.25%
Source: Bank Website

Yes Bank Savings Account Interest Rates (New)

Applicable interest rates on savings accounts (p.a.) w.e.f. 8th February 2022.

Daily Balance in the Savings Account (INR)	Applicable Interest Rates (p.a.) w.e.f. 8th February 2022
Less than or equal to Rs 1 lac	4.00%
More than Rs 1 lac to less than Rs 10 lacs	4.25%
More than or equal to Rs 10 lacs to less than Rs 1 Cr	4.75%
More than or equal to Rs 1 Cr to less than Rs 25 Cr	5.00%
More than or equal to Rs 25 Cr to less than Rs 100 Cr	5.25%
Source: Bank Website