Business

There are banks that modify fixed deposit interest rates. Latest FD rates here

Yes The Bank has increased the fixed deposit interest rate below 2 crore effective as of today, August 10th, the lender mentioned on its website. The bank will offer an interest rate of 3.25% on deposits held for seven to fourteen days and an interest rate of 3.50% on deposits held for a period of 15 to forty-five days. The interest rate on fixed deposits with terms from 46 days to 90 days is currently 4.10%, while the interest rate on deposits with terms from 3 months to less than 6 months is 4.75%.

Have a Bank will now apply an interest rate of 6.25% for deposits with terms from one year to less than 18 months. Banks increase interest rates on deposits with terms from 18 months to less than 3 years and from 3 years to less than 10 years. These deposits will now reach 6.75%.

There is the Bank’s FD rate for the elderly

Yes Bank for the Elderly adds 50 basis points (bps) more central to the regular rate on deposits maturing in 7 days to 3 years. Yes Bank also offers seniors an extra 0.75% or 75 basis points over regular rates on deposits maturing in 3 to 10 years.

After today’s hike, seniors will receive interest rates ranging from 3.75% to 7.50% on deposits maturing in 7 days to less than or equal to 10 years.

Yes Bank FD: Higher penalty fee for early withdrawal of fixed deposit

Yes Bank has increased penalty fee for early withdrawal fixed deposits (FDs). The new penalty fees take effect August 8, according to the lender’s website. The lender has increased the penalty for early withdrawals of term deposits for periods less than or equal to 181 days, to 0.50% from 0.25% previously.

Yes Bank has also increased the penalty for early withdrawal of FDs with a maturity of more than 182 days to 0.75% from 0.50% previously.

“Premature withdrawal penalty fee will be applied to all registered/renewed deposits with an amount less than INR 5 Crore as per the table below,” according to Yes Bank’s website.

Early withdrawal penalty does not apply to the elderly.

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