YES Bank hikes NRE FD interest rates, check new rates

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Yes BaYES Bank hikes NRE FD interest rates, check new ratesnk FD Rate Increased: Big news! Yes Bank Increased FD interest rates, now know the latest rates
YES Bank hikes NRE FD interest rates, check new rates
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The NRE FD rate has been revised to 7.01 per cent per annum by Yes Bank for tenures ranging from 12 months to less than 18 months. The bank said in a statement that all these revised rates are applicable on deposits below Rs 5 crore.



New Delhi. Private sector Yes Bank has increased the interest rates on its Non-Resident External Account (NRE) fixed deposits by 50 to 75 basis points. The bank has taken these steps as per the recent announcement made by the Reserve Bank of India (RBI) to assist with incremental fund flows. Earlier, the RBI had increased its highest interest rate on Foreign Currency Non-Resident (FCNR) deposits by 20 basis points.

The NRE Fixed Deposit rate for the tenure of 12 months to less than 18 months has been revised to 7.01% p.a. Similarly, the rate for the tenure greater than 18 months has been revised to 7.25% p.a. These revised rates are applicable for deposits less than INR 5 crores. Furthermore, the Bank is also offering a peak rate of 4.25% p.a. on USD FCNR deposits for the tenure of 24 months to less than 36 months.

 

To book NRE FDs, customers can visit YES BANK’s digital banking channels such as YES ONLINE (Net Banking), YES MOBILE (Mobile Banking) or YES ROBOTS (Personal Banking Chatbot) or YES BANK nearest location if they are in India Branch or write to gib@yesbank.

Recently, RBI had increased the repo rate by 0.5 percent to 5.4 percent.
Significantly, recently the Reserve Bank of India increased the repo rate by 0.5 percent to 5.4 percent. RBI has increased the policy rate repo by 1.40 percent in the last 3 monetary policy reviews.

Many banks have increased the rates of fixed deposits,
let us tell you that recently Punjab National Bank, Federal Bank, HDFC Bank, Karud Vysya Bank, IndusInd Bank, ICICI Bank, etc. have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates by the RBI.

 

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