Yes Bank offers a savings account with a minimum account balance of ₹0 and an interest rate of 7% per annum. This makes it an attractive option for individuals looking to earn a competitive interest rate on their savings without maintaining a high minimum balance.
Key Features of the Yes Bank Savings Account:
- Zero Minimum Balance: You can open and maintain the account without having to deposit a minimum balance.
- High Interest Rate: The 7% per annum interest rate offered by Yes Bank is significantly higher than the rates offered by many other banks.
- Online Banking: You can conveniently manage your account online through Yes Bank’s internet banking platform.
- ATM and Branch Network: Yes Bank has a wide network of ATMs and branches across India, making it easy to access your funds.
Note: Interest rates may vary and are subject to change. It’s advisable to check with Yes Bank directly for the most current rates and terms and conditions.
Additional Considerations:
- Other Fees: While the account has a zero minimum balance, there may be other fees associated with the account, such as annual maintenance charges or charges for certain transactions.
- Interest Calculation: The interest earned on your savings account may be calculated daily or monthly. Check with Yes Bank to determine their interest calculation method.
Overall, the Yes Bank savings account with a zero minimum balance and 7% interest rate can be a good option for individuals looking to earn a competitive return on their savings. However, it’s important to consider all the terms and conditions of the account before opening it.
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