Buoyed by an over 30% spike in savings deposits after it increased the interest rate to 6% two months ago, private sector lender Yes Bank today again increased the same to 7% to further attract more such low-cost funds.

The bank raised its savings deposit rate by 1 percentage point to 7% on deposits of over Rs 1 lakh effective today, the city-based lender’s Managing Director Rana Kapoor said.

It, however, has retained the pricing on deposits under Rs 1 lakh at the previous 6% level.

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0 responses to “Yes Bank hikes interest rate on savings deposits above one Lakh to 7%”

  1. CA. Subhash Chandra Podder says:

    Thanks to Mr. Rana Kapoor, Managing Director of YES bank and his associates for bring the Bank as customer friendly. They can , and they will satisfy the customers according to their choice .I don”t think that they have bad loan portfolio. If the bank need fund to infuse at any point of time . they have the ability of their own . YES bank employed those executives whom others neglected and trained them as per the need in Banking Business. ( source : print Media.)
    I congratulate of their all round success .
    CA. subhash Chandra Podder
    27/12/2011
    Kolkata.

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