Yes Bank Limited is one of the leading private-sector banks in India. It offers a wide range of banking solutions catering to MSME, retail and corporates. Moreover, the bank operates in multiple financial service segments such as brokerage business and investment banking through its subsidiary “Yes Securities”.
The bank has a total deposit of ₹2,19,369 crores and has generated an operating profit of ₹818 crores for the first quarter of FY 23-24. Apart from domestic banking solutions, the bank has massive offerings even for its NRI account holders, offering lucrative Yes Bank NRI interest rates.
Here in this article, we have discussed more about the Yes Bank NRE and NRO FD rates, features and more.
What is an NRI Fixed Deposit?
The NRI fixed deposit schemes are specially designed FD schemes for non-resident Indians who are looking forward to generating stable and risk-free returns on their overseas earnings. It enables them to invest their foreign denomination earned from abroad and earn attractive interest rates.
Yes Bank offers various types of FD schemes for NRIs, each providing benefits like easy and free repatriation of funds, tax-free interest income and such.
The NRI FD schemes offered by the bank include NRE fixed deposits, NRO fixed deposits, FCNR deposits and RFC deposits. Non-resident individuals can avail any of these based on their requirements and applicability.
Yes Bank NRI FD Rates December 2024
Take a look at the latest interest rates applicable to different Yes Bank NRI FD schemes.
Yes Bank NRE Fixed Deposit Rates under ₹2 crores
By investing in an NRE fixed deposit, you can earn a stable income on your foreign earnings and get them converted into an Indian denomination. Under this scheme, both principal and interest income are completely repatriable.
Given below are the latest Yes Bank FD rates NRE for deposits amounting up to ₹2 crores.
| Period | Interest Rates |
| 1 year to 18 months | 7.25% |
| 18 months to 24 months | 7.50% |
| 24 months to 60 months | 7.25% |
| 60 months | 7.25% |
| 60 months 1 day to 120 months | 7.00% |
Yes Bank NRE Fixed Deposit Rates above ₹2 crores
To know the Yes Bank NRE FD rates applicable to deposits amounting more than ₹2 crores, contact your nearest Yes Bank branch.
Yes Bank NRO Fixed Deposit Rates under ₹2 crores
An NRO deposit account is suitable for non-residents who have been generating income in the Indian currency. The sources of such income can be dividends earned from stocks, rent, etc. This FD account is ideally an alternative to NRE FDs since investments in Indian currency are not accepted in an NRE account.
Here are the latest NRO fixed deposit rates offered by Yes Bank.
| Tenure | Interest Rates |
| 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 year | 6.35% |
| 1 year to 18 months | 7.25% |
| 18 months to 24 months | 7.50% |
| 24 months to 60 months | 7.25% |
| 60 months | 7.25% |
| 60 months 1 day to 120 months | 7.00% |
Yes Bank NRO Fixed Deposit Rates above ₹2 crores
Yes Bank FCNR Fixed Deposit Rates
Yes Bank FCNR term deposit is specially designed for the NRIs who are willing to invest their foreign earnings in up to 8 currencies without converting them into Indian currency. This type of account protects FD investments from foreign exchange rate risk and enables them to earn high FD rates prevailing in India.
Here are the latest Yes Bank FCNR rates given below:
| Period | USD | GBP | EURO | JPY | CAD | AUD | HKD | SGD |
| 1 year to less than 2 years | 5.85% | 5.65% | 3.65% | 0.85% | 4.60% | 4.75% | 3.00% | 4.05% |
| 2 years to less than 3 years | 5.15% | 5.00% | 3.65% | 1.20% | 4.60% | 4.50% | 3.00% | 3.75% |
| 3 years to less than 4 years | 5.00% | 4.25% | 2.55% | 1.35% | 4.30% | 4.30% | 1.35% | 3.60% |
| 4 years to less than 5 years | 4.75% | 4.00% | 2.00% | 0.05% | 4.10% | 4.30% | 1.35% | 1.40% |
| 5 years | 4.75% | 4.00% | 2.00% | 1.35% | 4.00% | 4.30% | 1.35% | 1.40% |
Yes Bank RFC Fixed Deposit Rates
Resident foreign currency or RFC deposit is a type of NRI fixed deposit account which is only applicable to NRIs who return to India for permanent residence. A unique benefit of this FD scheme is that it allows account holders to transfer their RFC FD investment to NRE/FCNR deposit accounts, in case they regain their NRI status again.
The latest Yes Bank RFC fixed deposit rates are as follows:
| Period | USD | GBP | EURO | JPY | CAD | AUD |
| 1 year to 2 years | 5.85% | 5.65% | 3.65% | 0.85% | 4.60% | 4.75% |
| 2 years to 3 years | 5.15% | 5.00% | 3.65% | 1.20% | 4.60% | 4.50% |
| 3 years to 4 years | 5.00% | 4.25% | 2.55% | 1.35% | 4.30% | 4.30% |
Features and Benefits of Yes Bank NRI Fixed Deposit
Here are some of the features and benefits of Yes Bank NRI fixed deposits. The features are categorised, based on the various types of NRI FD scheme types offered by the bank.
1. NRE Fixed Deposit
- By investing in an NRE FD you can enjoy tax exemption on both principal and interest amounts.
- The entire FD investment made in this account is repatriable.
- You can enjoy flexible tenure, ranging between 1 year to a maximum of 10 years.
- You can nominate a beneficiary for the deposit account and avail overdraft facility against the deposit value.
- An NRE FD account can be booked easily through advanced digital banking platforms such as Yes Online, Yes Robot or Yes Mobile.
2. NRO Fixed Deposit
- The interest income earned from the NRO FD is subject to taxation in India.
- The deposit amount is repatriable but up to 1 million USD or of equivalent value.
- The minimum tenure of an NRO FD ranges between 7 days to 10 years.
- You can also avail overdraft facilities against the deposit value or add a nominee for the deposit.
- You can also book an NRO FD using the bank’s advanced digital banking platforms such as Yes Mobile, Yes Online and Yes Robot.
3. FCNR Deposit
- Unlike other banks, you can maintain FCNR deposits in up to 8 currencies which include USD, EUR, JPY, SGD, GBP, AUD, HKD & CAD.
- The minimum tenure of FCNR deposit is 1 year, while the maximum tenure is 5 years.
- It helps the account holders to protect their earnings against the foreign exchange rate risk.
- In the case of an FCNR deposit, the entire FD investment is freely and fully repatriable.
4. RFC Deposit
- The entire deposit amount can be repatriated as bonafide outward remittances.
- The interest income earned is subject to TDS as per the applicable income tax norms.
- Account holders can transfer RFC deposit balances to their FCNR/NRE deposit account.
Conclusion
To summarise, Yes Bank offers a wide range of fixed deposit schemes to NRIs, catering to their unique financial requirements. The bank offers some fantastic features like full repatriation of funds, tax-free income, flexible tenure, etc.
Moreover, the bank has advanced digital platforms like Yes Mobile, Yes Online and Yes Robot, making it convenient for the NRIs to book and manage their fixed deposit account and earn lucrative Yes Bank NRI interest rates.
FAQs
The RFC deposit benefits are only applicable to a non-resident individual returning to India for permanent residence. Such an individual has to become an Indian resident in order to be eligible.
Yes, you can make a bulk deposit in an FCNR FD account with Yes Bank. However, all such high-value FD or bulk deposits above ₹2 crores are accepted at the sole discretion of the bank.
Upon premature withdrawal of an FCNR deposit having a 1-year tenure or more, the bank charges an applicable penalty on the contracted rate of 0.05%.
No, NRI FD schemes do not provide additional interest rates to senior citizens. It is only applicable to the Indian Residents.
The minimum reinvestment tenure of a Yes Bank NRO deposit is 6 months 1 day.
