Modern Bharat
YES Bank hikes NRE FD interest rates, know what are the new rates

YES Bank hikes NRE FD interest rates, know what are the new rates

Yes Bank FD Interest Rates 2022 : Yes Bank of the country’s private sector has made many changes in the rates related to its fixed deposits. Let us tell you that Yes Bank has increased the interest rates on its Non-Resident External Account (NRE) Fixed Deposit by 50 to 75 basis points.

this is the new rate
Reserve Bank of India had increased its highest interest rate on Foreign Currency Non-Resident (FCNR) deposits by 20 basis points. After which Yes Bank has revised the NRE FD rate from 12 to 18 months to 7.01 percent per annum. However, all these revised rates are applicable on deposits below Rs 5 crore. The bank said that it is offering interest of 4.25 per cent per annum on dollar FCNR deposits for a period ranging from 12 months to less than 24 months.

Steps taken by RBI
Recently, according to the announcement made by the Reserve Bank of India, the repo rate was increased by 0.5 percent to 5.4 percent. RBI increased the repo rate by 0.5 percent to 5.4 percent. It is to be known that in the last 3 monetary policy reviews, RBI has increased the repo rate by 1.40 percent.

Can take advantage like this
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 Robot (Personal Banking Chatbot) or YES BANK nearest location if they are in India Branch or write to gib@yesbank.

These banks increased rates
Explain that Punjab National Bank (PNB), Federal Bank, HDFC Bank, ICICI Bank, IndusInd Bank etc. have increased their FD rates.

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