Yes Bank shocks customers, increases penalty for premature FD withdrawal

Yes Bank- India TV Paisa
Image: File Yes Bank

Yes Bank has changed the rules for premature FD withdrawal. The bank has increased the penalty for premature withdrawal of FDs of less than Rs 5 crore. In such a situation, the bank will now have to pay more charges than before for withdrawing the mature FD.

According to information available on the bank’s website, a penalty of 0.75 per cent will now be levied on premature withdrawal of FDs with a maturity of 181 days or less. Earlier it was 0.50 percent. Also, premature withdrawal of FD with maturity of 182 days and above will attract one percent penalty. Earlier it was 0.75 percent. Also, there will be no penalty of any kind for premature withdrawal of FDs by senior citizens after May 16, 2022.

Interest rate on FD in Yes Bank

  • 7 days to 14 days – 3.25 percent
  • 15 days to 45 days – 3.70 percent
  • 46 days to 90 days – 4.10 percent
  • 91 days to 120 days – 4.75 percent
  • 121 days to 180 days – 5.00 percent
  • From 181 days to 271 days – 6.10 percent
  • -6.35% from 271 days to less than a year
  • One year -7.25 percent
  • One year one day to less than 18 months – 7.50 percent
  • From 18 months to less than 24 months – 7.75 percent
  • -7.25% from 24 months to 60 months
  • 60 months one day to 120 months -7.00 percent

The bank is offering additional interest from 0.50 percent to 0.75 percent to senior citizens.

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