After HDFC Bank, Yes Bank cuts mounted deposit charges. Latest FD charges right here

Private lender Yes Bank has slashed the mounted deposit rate of interest on chosen tenure for deposits beneath ₹2 crore. The financial institution has diminished FD charges by as much as 25 foundation factors (bps) on some tenures. After the most recent revision, the financial institution provides rates of interest between 3.25% to 7.25% to common residents, and three.75% to eight% to senior residents on FDs maturing in seven days to 10 years , in accordance with the Yes Bank’s web site. The revised FD charges have been efficient from October 4, 2023.

On FDs maturing in a single yr to lower than 18 months, and 18 months to lower than 36 months, Yes Bank will now pay 25 bps lower than what the lender was paying earlier. Yes Bank will now pay a 7.25% charge on FDs maturing in a single yr to lower than 18 months, and  7.50% on FDs maturing in 18 months to lower than 36 months.

7 days to 14 days 3.25%

15 days to 45 days 3.70%

46 days to 90 days 4.10%

91 days to 120 days 4.75%

121 days to 180 days 5.00%

181 days to 271 days 6.10%

272 days to < 1 yr 6.35%

1 yr to < 18 months 7.25%

18 month < 24 months 7.50%

24 months to < 36 months 7.25%

36 months to < 60 months 7.25%

60 months 7.25%

60 months 1 day to <= 120 months 7%

HDFC Bank has slashed time period deposit rates of interest on choose tenures. After the most recent revision, the financial institution is providing an rate of interest starting from 3% to 7.20 % to common prospects on deposits maturing in 7 days to 10 years. Senior residents will earn an rate of interest of three.5% to 7.75% on these deposits. These charges are efficient from 1 October 2023. The financial institution has diminished the tenure on FD of 4 Years 7 months or 55 months by 5 bps. Now these deposits are fetching a 7.20% rate of interest.

IndusInd Bank, Punjab & Sindh Bank have additionally revised FD rates of interest on their time period deposits in October 2023.

RBI holds charges regardless of inflation

The Reserve Bank of India (RBI) left rates of interest unchanged once more Friday for the fourth time in a row. The benchmark repo charge has stood at 6.50 % since February, following a collection of hikes by the central financial institution to curb rising costs final yr.

Private lender Yes Bank has introduced October 21 because the date for reporting the second quarterly outcomes for the interval ended September 30.

“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click right here!

Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Updated: 07 Oct 2023, 11:51 AM IST

Topics