|Tenure||Normal Citizen RD Rate||Senior Citizen RD Rate|
|4 Months to 6 Months||5.00%||5.50%|
|6 Months to 9 Months||6.10%||6.60%|
|9 Months to 1 Year||6.35%||6.85%|
|1 Year to 1 Years 6 Months||7.50%||8.00%|
|1 Year 6 months to 2 Years||7.75%||8.25%|
|2 Years to 3 Years||7.25%||7.75%|
|3 Years to 5 Years||7.25%||8.00%|
|5 Years to 10 Years||7.00%||7.75%|
Note: All interest rates shown above are as on 1st November 2023
6 Months -10 Year
Public Interest Rates
5.00% to 7.75%
Senior Citizen Interest Rates
5.50% to 8.25%
Minimum Deposit Amount
Highest Rates for Public
Highest Rates for Senior Citizen
|Investment Amount||For 3 years with interest of 7.25%||For 5 years with interest of 7.00%|
|₹ 50,000||₹ 1,51,809||₹ 2,54,384|
|₹ 1 lakh||₹ 3,03,618||₹ 5,08,767|
|₹ 2 lakh||₹ 6,07,236||₹ 10,17,534|
|₹ 5 lakh||₹ 15,18,089||₹ 25,43,835|
|₹ 10 lakh||₹ 30,36,178||₹ 50,87,670|
|Maturity Amount||₹ 3,03,618||₹ 3,02,621|
|Total Investment Amount||₹ 3,00,000||₹ 3,00,000|
|Total Interest Gained||₹3,618||₹ 2,621|
|Bank Name||RD Interest Rates|
|Punjab National Bank||4.40% to 6.50%|
|City Union Bank||5.75% to 6.50%|
|BOI Bank||4.50% to 6.50%|
|Canara Bank||5.25% to 6.90%|
|Indian Bank||3.50% to 6.70%|
|BOB Bank||4.50% to 7.05%|
|Central Bank of India||4.50% to 6.75%|
|Karur Vysya Bank||6.00% to 7.00%|
|Union Bank of India||4.30% to 6.70%|
|Tamilnad Mercantile Bank||5.75% to 7.00%|
|Karnataka Bank||5.25% to 7.00%|
|Dhanlaxmi Bank||6.50% to 6.75%|
|South Indian Bank||4.50% to 6.50%|
|Federal Bank||5.00% to 7.30%|
|Bank of Maharashtra||4.50% to 6.00%|
|Indian Overseas Bank||4.50% to 6.80%|
|UCO Bank||4.50% to 6.50%|
|RBL Bank||4.75% to 7.50%|
|State Bank of India||4.50% to 7.00%|
|IDBI Bank||4.50% to 6.80%|
|Axis Bank||4.75% to 7.10%|
|HDFC Bank||4.50% to 7.10%|
|ICICI Bank||4.75% to 7.00%|
|Indusind Bank||4.75% to 7.50%|
|Kotak Mahindra Bank||4.00% to 7.10%|
|Bandhan Bank||4.50% to 7.25%|
|IDFC First Bank||5.00% to 7.50%|
|Equitas Small Finance Bank||7.25% to 8.20%|
|Capital Small Finance Bank||4.75% to 7.15%|
|Ujjivan Small Finance Bank||4.75% to 7.50%|
|Fincare Small Finance Bank||5.75% to 8.25%|
|ESAF Small Finance Bank||5.25% to 8.50%|
|North East Small Finance Bank||4.00% to 7.50%|
|Suryoday Small Finance Bank||5.00% to 8.50%|
|Utkarsh Small Finance Bank||6.50% to 8.00%|
|Jana Small Finance Bank||4.00% to 8.50%|
|DBS Bank||3.00% to 7.50%|
|Post Office||6.90% to 7.50%|
Frequently Asked Questions
What is the current interest rate of RD in Yes Bank?
How to open rd account in Yes Bank?
How to close rd in Yes Bank?
How to calculate maturity and interest in Yes Bank recurring deposit ?
What is Yes Bank RD interest rates for 1 year in 2023 ?
YES Bank recurring deposit scheme is a monthly investment scheme that allows investors to invest in small amounts for a fixed tenure. The tenure of YES Bank RDs ranges between 6 months and ten years. The YES Bank recurring deposit rate is around 5.75% - 7.50% p.a. for regular citizens. YES Bank also offers additional interest rates for senior citizens on their RD investments. The senior citizen RD interest rate ranges between 6.25% - 8.00% p.a.
Interest income from YES Bank RDs is taxable as per the individual investor’s income tax slab rates. Investors will have to show this interest income under the head ‘Income from other Sources’ while filing their income tax returns. Moreover, YES Bank deducts a TDS of 10% if the interest income exceeds INR 40,000 (INR 50,000 for senior citizens). The 10% rate is applicable if the investor submits PAN Card details to YES Bank. Else, the bank will cut TDS at 20%.
Check Out: Yes Bank FD Rates
Investors can take loans such as home loans (loan against property), education loans, motor loans, etc., against YES Bank RD. Also, one can compute their loan EMI using the loan EMI calculator. Furthermore, the loan EMI calculator works as a personal loan EMI calculator, car loan calculator, and also home loan calculator. The investor can also use the EMI calculator for comparing scenarios by changing the variables such as interest rate.
The YES bank’s recurring deposit scheme helps investors invest their earnings in a monthly manner. The RD scheme helps in saving a specific amount for a fixed tenure. Furthermore, the interest gets compounded every quarter.
Also, the scheme assures returns on the deposits. Hence there is no risk, and the monthly remittance is secure.
Encourages the habit of regular saving. Furthermore, the higher the amount and duration, the higher is the interest rate.
Find Out: Best WhiteOak Mutual Funds to Invest
YES Bank RDs are considered a good investment for investors who want to regularly save a small amount of money. Through this savings scheme, investors can invest monthly in the scheme. Since the YES Bank RD scheme guarantees income at the time of maturity, it is a low-risk investment. Hence, investors looking for low-risk investment options and guaranteed income can invest in this scheme. However, they have to take into consideration the tax that they have to pay on the interest income from YES Bank RDs.
Yes, the YES Bank RD account requires a minimum deposit amount of INR 1,000 per month. However, there is no maximum limit on the deposit amount.
Yes, a minor can open a YES Bank RD account under the guardianship of their parents or legal guardian. This is to ensure that someone is monitoring their finances.
One can open a YES Bank recurring deposit account through both offline and online modes. For online mode, one has to visit the YES Bank website. And for offline mode, one has to visit the nearest branch of YES Bank.
To be able to invest in YES Bank RD, one needs to have all valid documents. They need to have a YES Bank RD application form, duly filled and signed and passport size photographs. For proof of identity, they need to either have a PAN Card, voter ID, driving license, or Aadhar Card. For proof of residence, they need to either have a valid passport, Aadhar Card, or utility bills. Additionally, they would also need any KYC documents as required by the bank.
No, it is not possible to renew a YES Bank RD account.
The current highest interest rates of Yes bank RD scheme is 8.00%