Yes Bank raises domestic savings rate to 7%

Private sector lender Yes Bank said on Thursday it raised savings deposit rates to 7 percent from 6 percent for domestic customers with immediate effect.

Mumbai: Private sector lender Yes Bank said on Thursday it raised savings deposit rates to 7 percent from 6 percent for domestic customers with immediate effect.

It also raised non-resident Indian savings account deposit rate by 200 basis points to 6 percent for deposits up to Rs 100,000, it said in a statement.

The lender also raised interest rate for deposits by non-resident Indians by 300 basis points to 7 percent for balances above 100,000 rupees, it added.

On Oct 25, the RBI deregulated savings deposit rates, its last administered bank rate.

Bureau Report

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