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Yes Bank launches floating rate FD; Interest to be clubbed with current repo rate

Yes Bank launches floating rate FD; Interest to be clubbed with current repo rate

Yes Bank on Tuesday announced the launch of a new product, floating rate fixed deposits, for all domestic customers. The interest rate on this Fixed Deposit (FD) will be linked to the existing repo rate, allowing the bank’s customers to enjoy dynamic returns on their fixed deposits.

Floating Rate Fixed Deposit is a unique offering designed to benefit customers by enabling them with an asset class that offers the security of a fixed deposit with dynamic returns that are linked to the repo rates published by the central bank. Is. This floating rate FD can be availed for tenures ranging from 1 year to less than 3 years as per the choice of the customer.

Prashant Kumar, MD & CEO, Yes Bank said, “At Yes Bank, we are committed to innovation and customer centricity as the core of our banking initiatives. We continuously strive to provide best-in-class benefits and experience to our customers across all segments. Floating Rate Fixed Deposit is a one of its kind FD product which is yet another testament to such sustained efforts. One of the main advantages of this product is that the interest rate revision will happen automatically and will not require any human intervention by the bank or the customers. The launch of this floating rate FD has been meticulously thought out and thought out, and is another step towards further enhancing our retail product offering.”

To book this new floating rate fixed deposit, customers can give a missed call on 07127191191 or visit the nearest branch of Yes Bank.

The bank has increased its interest rates on standard fixed deposits to 6.5 per cent per annum for regular customers and 7.25 per cent per annum for senior citizens.

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Yes Bank launches floating rate FD; Interest to be clubbed with current repo rate

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