Yes Bank reduce interest rates on Resident and Non-Resident (NRE & NRO) Savings Accounts

Sushubh

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Staff member
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Excitel
Airtel
Sigh.

Dear Customer,

We thank you for banking with YES BANK and value your relationship with us.

With effect from 1st November 2015, Interest Rate on Resident and Non-Resident (NRE & NRO) Savings Accounts will be revised to 6.0% p.a.*. In a changing interest rate scenario, YES BANK’s Savings Account Interest Rates continue to offer a highly favorable and attractive source of returns for our customers, including benefits such as:

Higher effective yield on SA balances through:
High returns of 6% p.a.* interest rate on Savings Account
Instant liquidity of funds
Income Tax Exemption of Interest on Savings Account up to Rs.10,000^ per annum
Quarterly payout of Savings Account Interest
Hassle Free Banking
Free unlimited transactions on any Bank ATM in India with YES BANK Debit Card
Free RTGS/NEFT through NetBanking
Access to any YES BANK branch free of charge
Loyalty reward points for select transactions through your YES BANK Debit Card and NetBanking
Free Demand Drafts up to pre-specified limits
Free SMS/Email Alerts

It is our endeavour to provide you with best-in-class banking services through a network of over 700 branches and more than 1300 ATMs across all 29 States and Union Territories in India, and a strong digital presence.

For more details, please get in touch with your nearest YES BANK branch or your Relationship Manager, or visit our website www.yesbank.in.


YES FOR YOU!


Sincerely,

YES BANK Ltd.

* Rates are subject to change at the sole discretion of YES BANK. Conditions apply.
^Applicable for Savings Accounts held by individuals (except NRO Account) and HUF only
 

SVK

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I read somewhere comment by some financial expert that reducing interest rates by RBI Governor on home loans and other loans would have side effect of interest rates getting reduced for Savings/Deposits. This will negatively impact people who depend on interests on their Savings example retired people.