After restructuring charges for savings accounts, private sector lender Yes Bank hiked interest rates on its Non-Resident External Account (NRE) fixed deposits by 50 to 75 basis points.
The following move has been made to in accordance with the recent announcement made by the Reserve Bank of India (RBI) to aid incremental fund flows. Earlier, RBI increased its peak interest rate on Foreign Currency Non-Resident (FCNR) deposits by 20 basis points.
As per details, the NRE fixed deposit rate for the tenure of 12 months to less than 18 months has been revised to 7.01 percent per annum by the YES Bank. All these revised rates are applicable for deposits less than ₹5 crore, the bank said in a statement.
ALSO READ: Yes Bank revises savings account schedule of charges effective 1st September
Apart from this, the bank said that it is also offering a peak rate of 4.05 per cent per annum 4.25 per cent per annum on dollar FCNR deposits for the tenure of 12 months to less than 24 months.
Customers can visit YES BANK’s digital banking channels viz YES Online (Net Banking), YES Mobile (Mobile Banking) or YES Robot (Personal banking chatbot) or visit the nearest branch of YES BANK if they are in India or write to [email protected] to book NRE fixed deposit.
While, FCNR deposits can be booked through YES Online (Net Banking) or customers can visit the nearest branch of YES BANK if they are in India or write to [email protected].
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