Yes Bank Savings Account: Money is all we need the most to lead our life with all the required commodities we need. We have to pay for everything in this world. And this is the reason why we work and earn money for us and our family. But wait is it safe to keep the money you earn or carry it along with you all the time? No, it is not safe and no one likes to lose the hard earned money as well. So what is the safe place where you can keep your money? It’s the bank account.
The bank account is the safest place where you can store or deposit your money I can say. We have to agree with it and that is money is safer to keep in the bank account when compared to keeping it at home. Your money is safe and sound until you keep your account credentials confidential. If you share your account details then your money will get into danger, my friend. Here I am talking about the credentials like ATM card details and internet banking details. You should keep the private and no one from the bank will ever call you to ask those details.
So if you receive any email or call asking for the OTP, ATM Card details and internet banking details never respond to such things. On this page on Bank With Us, you can find all the details which you need to know about the Yes Bank Savings Account. Yes Bank is one of the biggest and most trusted banks that is operating in India. If you are thinking to open a new savings account with Yes Bank then let me tell you that you have chosen a good bank.
Yes Bank always tries the best to offer the best banking services to the people who hold the bank account with them. Almost all the account holders of this bank are happy with the services they are getting from the bank.
- About Yes Bank – All You Need to Know
- Products and Services Offered By This Bank
- Awards and Recognitions Received By This Bank
- Yes Bank Savings Account & Yes Savings Account Interest Rate
- Features of Yes Bank Savings Account
- What are the Different Types of Yes Bank Savings Account?
- What Are The Account Charges in Yes Bank?
- How Much is the Monthly Average Balance of Yes Bank Savings Account?
- How Much is Yes Bank Savings Account Interest Rate?
- How to Open Yes Bank Savings Account?
About Yes Bank – All You Need to Know
According to the data, we received online Yes Bank is the fifth largest private sector bank in India. (as on 13-05-2017) They have seen a huge growth in the business in last decade and now they are a fully functional commercial bank in our country.
The headquarters of this bank is situated in Mumbai, India. This bank was founded in the year 2004 by Rana Kapoor and late Ashok Kapoor.
You can find the logo of the bank which is embedded above. If you wish to read more about the history and development of this bank then you can head towards Wikipedia by following this link.
The above-mentioned link will take you to the Wikipedia page about Yes Bank in a new tab in your browser. So you will not be interrupted while reading this page about Yes Bank Savings Account & Yes Savings Account Interest Rate Online.
Products and Services Offered By This Bank
As we know that Yes Bank is now fully functional bank they provide many products and services. You can find some of them listed below.
- Corporate and Institutional Banking
- Commercial Banking
- Investment Banking
- Corporate Finance
- Financial Marketing
- Retail Banking
Awards and Recognitions Received By This Bank
We have already told you that if you are thinking to get Yes Bank Savings Account then you have chosen a good bank. Here is one of the reasons why we have mentioned that. Check out the awards and recognitions which this bank received.
- India’s Fastest Growing Bank of the Year 2011
- Bank of the Year India, The Banker London – 2015
- Asia-Pacific Quality Organisation (APQO)-Adjudged World Class Organisation, August 2014. Only Indian bank to win this prestigious global award.
- The first bank in India to be awarded the prestigious IMC Ramkrishna Bajaj National Quality Award for Business Excellence in the Services Category in 2013.
- Dun & Bradstreet- Best Private Sector Bank (Asset Class) 2014
- Order of Merit SKOCH Financial Inclusion and Deepening Awards 2014
- First Private Bank in India to be awarded ISO 14001:2004 certificate 2013
Yes Bank Savings Account & Yes Savings Account Interest Rate
So now let us check out more details about the Yes Bank Savings Account and the interest rate they offer along with the monthly average balance etc.
Features of Yes Bank Savings Account
Here are the features which you will get once you have opened Yes Bank savings account in India.
- The money which you deposit in your Yes Bank Savings Account will be safe.
- You will get access to many innovative banking services and features.
- There is an option to choose the different type of account depending on your needs.
- You will get Internet Banking, Mobile Banking, and SMS banking facilities.
- The utility bill payments via internet banking will be free for you.
- You will get rewards on the amount you save in the Yes Bank Savings Account.
- The ATM card or Debit card will be issued for free of cost when you open the savings account with them.
- There is no limit on the number of ATM withdrawals.
- And the Yes Bank Savings Account interest rate is 6% p.a *
What are the Different Types of Yes Bank Savings Account?
In the features section above we have mentioned that there are different types of account to choose from. You can choose the saving account type which suits you.
But which are the different types of account? The answer is mentioned below.
Savings Exclusive Account:
- You will get some nice discount offers on your Yes Bank debit card
- Unlimited ATM card withdrawal all over India
- The interest rate on for exclusive account is 6% p.a
Savings Select Account:
- The interest rate on your savings account is 6% p.a
- Exciting offers on your Yes Bank debit card
- Unlimited ATM card withdrawal all over India
- Sweep-in facility will be enabled
- If you open Savings Advantage account in Yes Bank then you will earn tax-free interest income up to INR 10,000 on Savings accounts
- The demand drafts are issued for free, but you have to check the issuance limit with the branch you are opening the account.
- The Yes Bank Savings Advantage Account’s interest rate is 6% p.a
- You will earn tax-free interest income up to INR 10,000 on Savings accounts
- The interest rate is 6% p.a
My First Yes:
- This is the bank account for children.
- You get a feature with the help of which you can easily transfer money from your bank account to your child’s bank account.
- The interest rate on the savings account is 6% p.a
- This bank account type is designed for our women in India.
- Women who own Yes Grace account gets 25% discount on locker charges.
- 0.50% of discount will be provided on each purchase done with the Yes Bank debit card.
- This bank account type is designed for the senior citizens of India.
- Yes Respect account holders get 40% off on locker charges.
- 6% p.a interest rate on the Yes Bank Savings Account.
Please note that there are some other types of bank accounts in Yes Bank as well. These are just a few of them but the most famous one.
You can get to know about all the types of Yes Bank savings account by visiting any of their branches across India. But the ones which are mentioned above are the accounts which are opened the most by people.
What Are The Account Charges in Yes Bank?
As there are many types of Yes Bank accounts they account charges differ to each type of account. So it will be good to ask the account charges to the bank officials while opening Yes Bank Savings Account.
How Much is the Monthly Average Balance of Yes Bank Savings Account?
There is an amount of balance which is decided by the bank for each type of bank account in Yes Bank. And the account holders have to maintain that balance in the bank account.
There is no minimum balance kind of stuff in Yes Bank as far as our knowledge. But you have to maintain monthly average balance (MAB) in your bank account.
If you don’t maintain the monthly average balance in your Yes Bank account then the bank may apply MAB penalty on your bank account.
So why to pay the penalty when you can maintain your monthly average balance. Check out the Monthly average balance of the Yes Bank Savings account types which are mentioned above.
We have created a table in which we have mentioned the MAB against the name of the type of Savings Account in Yes Bank.
|Type of Yes Bank Savings Account||Monthly Average Balance|
|Savings Exclusive Account||Rs. 1,00,000|
|Savings Select Account||Rs. 5,000|
|Savings Advantage||Rs. 10,000|
|Savings Value||Rs. 5,000|
|My First Yes||Rs. 5,000|
|Yes Grace||Rs. 10,000|
|Yes Respect||Rs. 5,000|
How Much is Yes Bank Savings Account Interest Rate?
On most of the Yes Bank Savings Account type, the rate of interest is 6% p.a. below Rs. 1 crore balance. But you have to keep one thing in your mind is the rate of interest which is offered by the bank can be changed anytime by the bank without prior notice.
How to Open Yes Bank Savings Account?
Have you decided to open your savings bank account with Yes Bank?
If yes then that’s great you can open the bank account with them by visiting any of their branches across our country.
You can even apply for Yes Bank Savings Account by visiting their official website. You will have to fill in details like your name, contact number, place etc.
The bank officials from the Yes Bank branch which is near to your location will contact you and help you to open the bank account with them.
Frequently Asked Questions about Yes Bank Savings Account
These are some of the most frequently asked questions about the Yes Bank Savings account are mentioned here below.
Do I have to Pay Anything Extra to get ATM Card?
No, once you open the bank account Yes Bank then you will get the ATM card free of cost. But if you lose or damage your ATM card. Then the bank will charge you money to issue the new ATM card for you.
What is Meant by Unlimited ATM Usage?
You will get ATM card free of cost from the bank and you can use it unlimited times in India. Please note that if you use the ATM card outside India then that transaction will attract the extra charge.
Here by the term Unlimited ATM usage means that you can use your ATM card as many times you need in India. There is no limit on the number of uses.
Can I upgrade or downgrade my bank account later?
Yes, you can do that once you have Yes Bank Savings account. And to do so you have to contact branch which is near to your location. They allow their account holders to upgrade or downgrade the bank account according to their needs.
Will I get Internet Banking and Mobile Banking?
Yes, once you have the bank account with Yes Bank then you will get internet banking and mobile banking services from the bank.
Do I have to pay anything extra to get internet banking and mobile banking?
No, you don’t have to pay anything extra to the bank if you want to use internet banking or mobile banking. But however, for the funds transfers and other online services may attract charges.
Do I Get Any Wallet Feature with Yes Bank Savings Account?
Yes, you will get access to Yes Pay Wallet which is official wallet service of the bank. Even if you don’t want to use the Yes Pay Wallet you can use the other e-wallet services which are available online.
Can I use Yes Bank App for my Smartphone?
Yes, Yes Bank app is available for both Android and iOS devices. But you should note that you have to install the app from the trusted source only. You can get the download link to the app from the official website of Yes Bank.
So this is everything you need to know about Yes Bank Savings Account. We hope you are clear with all the information which is mentioned on this page. We have tried our best to provide the right information but still, we recommend you to verify the information with the bank.
You can verify that by visiting any of the branches of the Yes Bank across India, that is the branch which you would like to make your home branch. And you can do that by calling the customer care of the bank on their toll-free number 1800 2000 as well.
Just call them and talk to the customer care executive they will help you out further. But if you have any kind doubts about anything mentioned on this page then you can comment below. We will make sure that you will get a reply as soon as possible.