Private sector YES Bank has announced changes in the fee structure for salary and defense related accounts. The new schedule of charges will be effective from October 1, 2025. This will affect the customers of Smart Salary accounts and Yes Vijay accounts.
This includes Advantage, Exclusive, Defense Pension and Agniveer variants.
Smart Salary Accounts
Under the new rules, Smart Salary Advantage account holders will get RuPay debit card at a joining fee of ₹199. Smart Salary Exclusive and above variants will be given Engage or Explore debit cards. Joining and renewal fees will be waived only if customers maintain a minimum monthly salary credit or average monthly balance (AMB) of ₹10,000.
At ATMs of other banks, three transactions per month will be free in metro cities and five in non-metro cities. After this, ₹23 will be charged on every financial transaction and ₹10 on non-financial transactions. International cash withdrawal will be charged ₹150 and balance inquiry will be charged ₹20.
For cheque returns, a charge of ₹500 will be levied for the first time and ₹750 per instrument thereafter. For ECS returns, a charge of ₹550 has been fixed for the first time and ₹600 thereafter. The salary account will be considered a zero-balance account. However, if salary is not credited for three consecutive months, the account can be converted into a regular savings account. In this case, a non-maintenance charge will be levied up to a maximum of ₹750.
Yes Vijay Accounts
Yes Vijay account holders will get Element and Engage debit cards for free. Cash transactions at branch or bulk note acceptor will be free up to ₹1 lakh or two transactions in a month. After this, a fee of ₹4.5 per ₹1,000 (minimum ₹150) will be charged.
The cheque return charge for insufficient balance in these accounts has been fixed at ₹350 for the first time and ₹750 thereafter. ECS returns will be charged at ₹500 for the first time and ₹550 thereafter.
Defence and Pension Accounts
Defence and pension account holders will continue to enjoy unlimited free transactions, free NEFT/RTGS (inward and outward), and digital banking services at YES Bank ATMs as before.
Changes in merchant account too
YES Bank has made changes in the fee structure for Merchant Easy and Merchant Prime current accounts, which will be effective from October 1. In Merchant Easy account, cash deposit up to 12 times the average monthly balance (AMB) of the previous month and up to a maximum of ₹ 1.5 crore will be free.
In Merchant Prime, this limit will be 15 times and up to ₹5 crore. Deposits above the limit will attract a charge of ₹4 per ₹1,000 (minimum ₹50). The free limit for small notes will be ₹10,000 per month, after which a 2% charge will be levied, while deposits in coins will be free up to ₹1,000 and thereafter a 5% charge will be levied.
An AMB of ₹25,000 will be required for Merchant Easy and ₹50,000 for Merchant Prime. In case of any shortfall, a penalty of ₹250 to ₹500 will be levied. However, on completion of the transaction value set through POS, QR or Soundbox, one will be exempted from AMB maintenance.
First 5 IMPS transactions are free
RTGS, NEFT and intra-bank transfers will be free. The first five transactions of IMPS will be free, after that a charge of ₹2.5 to ₹15 will be levied. Checkbook will be free up to 100 pages, after that a charge of ₹2 will be levied per page.
Both accounts will get Element Business Debit Card, whose annual fee will be ₹349. ₹150 will be charged on international withdrawal and ₹20 on balance inquiry. 3 transactions will be free in metros and 4 in non-metro at non-YES Bank ATMs. After this, ₹23 will be charged on financial transactions and ₹10 on non-financial transactions.
There will be a charge of ₹750 on cheque and ECS returns. ₹50 will be charged on technical cheque returns and ₹100 on outstation collection. ₹100 will be charged on printed statements and ₹500 to ₹750 on account closure. SMS, email alerts and most digital services will remain free.
