Latest Yes Bank Savings Account Interest Rates – 2024

With a technologically sound infrastructure, Yes Bank has been able to satisfy its large customer base with seamless and convenient banking services. The bank offers various types of savings accounts with unique features and benefits. Yes Bank savings account interest rates are kept competitive so that the customer’s deposited money grows steadily and effortlessly. Read on to learn how to start your savings journey with Yes Bank.

Recent Yes Bank Savings Account Interest Rates 2024

Check out the current savings interest rate offered by the Yes Bank as of now. 

Yes Bank Savings Account Minimum Balance Required

Now that you know the latest Yes Bank savings account interest rates, let us find out the minimum balance required to open a savings account. 

Yes Bank Savings Account Charges

The following table shows the applicable charges for various kinds of banking activities with Yes Bank savings accounts.

Why Choose a Yes Bank Savings Account?

Apart from providing various types of savings accounts catering to the different financial goals of its customers, the attractive SB interest rate in Yes Bank on the deposited amount is what makes these accounts so popular. This helps your money to grow effortlessly at a steady pace.

Safety, security and hassle-free processes for any banking activity add to Yes Bank’s reputation and reliability among its customers.

Key Benefits of Yes Bank Savings Account

Some key benefits of Yes Bank savings accounts are as follows:

1. YES Bank savings account comes with a host of offers and innovative financial solutions
2. Your cash stays safe when deposited in Yes Bank’s savings account
3. Select an account number of your choice
4. Different savings accounts for different needs
5. Enjoy free RTGS/NEFT payment facility via net banking
6. Enjoy purchase protection insurance, life insurance, and card lost liability
7. Access your account easily via mobile banking and SMS banking facilities
8. Enjoy unlimited access to any bank’s ATM, throughout the country
9. Higher returns from Yes Bank savings interest rates of up to 6.25% per annum 
10. Avail quarterly payout of savings interest
11. Get demand draft (DD) issued for free through both net banking and branches
12. Enjoy free utility Bill Payment via netbanking
13. Get a free debit cum ATM card with exciting offers

Additional Benefits Associated with Yes Bank Savings Account

Some additional benefits of Yes Bank savings accounts are as follows:

1. Account holders can avail doorstep banking services.
2. Yes Bank offers Titanium Plus debit cards, Platinum debit cards, RuPay domestic debit cards or Titanium debit cards with different types of savings accounts.
3. You can auto-upgrade benefits, based on your relationship with the bank.

How to Open a Yes Bank Savings Account Online?

A few things to keep in mind as an applicant, before account opening and availing Yes Bank savings rate of interest:

1. You need to be physically present in India.
2. At the time of filling out the account opening form, you should keep your PAN and Aadhaar card details handy. 
3. To fund your digital savings account, allow quick access to UPI or any other bank details.

Follow the steps mentioned below to open a savings account in YES Bank online:

• Step 1: Visit YES Bank’s official website and expand the ‘Accounts’ drop-down.
• Step 2: Under ‘Accounts’, click on ‘Savings Account’.
• Step 3: You will land on the ‘Savings Account’ page which will show you several savings account options to choose from.
• Step 4: Choose the savings account type that suits your financial goals, and click on the ‘Apply Now’ button under it.
• Step 5: You will see three options on the next page, choose one among them. The options are ‘Open Savings Account’, ‘Check Account Status’ and ‘Complete Video KYC’.
• Step 6: Click on ‘Open Savings Account’.
• Step 7: The system will then ask you to provide your details like Aadhaar, email ID, mobile number linked to your Aadhaar, and PAN card.
• Step 8: Enter all the details as asked. The bank will verify your details and upon successful verification, will open the account.

How to Open a Yes Bank Savings Account Offline?

You will have to visit a Yes Bank branch to open a savings account offline. Follow the steps mentioned below to reap benefits from the high-yielding Yes Bank savings rate. 

• Step 1: Visit the nearest Yes Bank branch, collect the savings account application form, and fill it out carefully.
• Step 2: When asked by the bank official, provide all your basic details like email ID, mobile number, Aadhaar card number, and PAN card.
• Step 3: The bank official will provide you with an overview of all types of savings accounts offered by the bank, along with the unique benefits and features of each type, so that you can make an informed decision in choosing one, as per your financial goals.
• Step 4: Based on the type of savings account you are opening, you will have to deposit the cash. If it is a ‘zero balance account’, then there is no need to deposit any cash in the account. 
• Step 5: Attach all necessary documents and the deposit cash slip with the filled-out application form. and submit it to the banking official.
• Step 6: Upon successful verification of all the details provided by you, the bank will open your account.
• Step 7: You will receive from the bank a welcome onboarding kit consisting of all the guidelines and necessary information to help you operate the savings account.

Eligibility Criteria to Open Yes Bank Savings Account

The eligibility criteria for some of the savings account types at Yes Bank are as follows:

Documents Required to Open Yes Bank Savings Account

You need to submit self-attested copies of the following documents to open a Yes Bank savings account. You must produce original documents as well, at the time of verification.

1. PAN Card or Form 60 (If you do not have a PAN card)
2. Identity verification (Voters ID, PAN Card, passport, driving licence, NREGA card, and Aadhaar card)
3. Most recent photographs
4. Address verification (Aadhar card, Passport, driver’s licence, Voters ID, and NREGA card)

Note: Documents required for KYC may vary as per the bank’s internal policy, or prevalent guidelines.

Types of Yes Bank Savings Accounts and Their Features

1. YES PRO Plus Savings Account

•    Earn YES Reward in the 1st yearGet an ENGAGE debit card which offers a lot of lifestyle benefitsOn Locker rental/Demat AMC, you get a 30% discount for 1st year 

2. YES PRO Max Savings Account

• Loaded with lifestyle benefits up to ₹1,17,000Earn up to 25,000 YES RewardsAvail exciting Debit Card Offers

3. YES Digital Savings Account

• Easy opening via Video KYCNil brokerage on trading 10% discount for the 1st year on Demat AMC/Locker rental

4. MY First YES Savings Account

• This account is meant to start your child’s savings journeyLow Average Monthly Balance requirementEarn attractive interest rates on your savings accountCustomise withdrawal limits on debit cards

5. YES Respect Savings Account

• Free lifetime ELEMENT debit cardPriority connectivity through the SKIP IVR optionEarn 0.75% additional interest for 36 months and above tenure, on your Fixed Deposits

6. YES Essence Savings Account

• 1.5x YES Rewards on a selected set of transactionsCustomised debit card with 2% cash back every month100% discount for the 1st year on Demat AMC/Locker rental Loaded with lifestyle benefits up to ₹1,17,000Earn up to 25,000 YES RewardsAvail exciting Debit Card Offers

7. Pradhan Mantri Jan Dhan Yojana Account

• PMJDY RuPay Debit CardAccidental Insurance cover

8. Senior Citizen Savings Account

• Free lifetime ELEMENT debit cardFree SMS alert facilityPriority connectivity through the SKIP IVR option

9. YES PRO Savings Account

• Avail discount on Locker rentals and Demat AMCEarn YES RewardsUnlimited access to any bank ATMs in India

Steps to Open Yes Bank Video KYC (VKYC) Savings Account

Video KYC (Know Your Customer) is the process that the bank follows to verify the documents necessary to open your savings account, through video call. This provides you with the convenience of completing a vital part of the account opening process from the comfort of your home. This is usually carried out after you have applied for a savings account, and have submitted the application form online.

Perform the following steps to initiate VKYC for a Yes Bank savings account:

• Step 1: Visit YES Bank’s official website and expand the ‘Accounts’ drop-down.
• Step 2: Under ‘Accounts’, click on ‘Savings Account’.
• Step 3: You will land on the ‘Savings Account’ page which will show you several savings account options to choose from.
• Step 4: Choose the savings account type that suits your financial goals, and click on the ‘Apply Now’ button under it.
• Step 5: You will see three options on the next page. Click on ‘Complete Video KYC’ and enter all necessary details like ‘mobile number’, etc., asked by the system thereafter, to initiate the VKYC process.
• Step 6: You will get the online meeting details to get your VKYC done. You just need to keep all the necessary KYC documents handy.

Yes Bank Savings Account Transaction Limit

How to Close a Yes Bank Savings Account?

It is not possible to close a Yes Bank savings account online. Here is a step-by-step guide on how to do so offline. 

• Step 1: Visit a Yes Bank branch.
• Step 2: Collect the savings account closure form. 
• Step 3: Fill it out carefully with all necessary information and submit it to the bank official.

Yes Bank Savings Account Onboarding Kit

After submission of the savings account application form and successful verification of KYC documents, Yes Bank sends you an onboarding kit. It contains all the guidelines and necessary information to help you operate the savings account.

Final Word

Yes Bank savings account interest rates being attractive is only one of the reasons why customers find depositing their money in this bank profitable. The bank’s portfolio of savings accounts with unique features aimed at suiting different financial goals, hassle-free opening and closing process, and convenience of funds transfer and other banking activities, all are reasons you can consider to start your savings journey with Yes Bank.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.