Yes Bank Saving Account: How to Open, Eligibility & Interest Rates

Yes Bank Saving Account: How to Open, Eligibility & Interest Rates

Yes Bank Saving Account

If you are looking for a decent and consumer-friendly savings account, Yes Bank is one of the good choices. This informative guide will go into details that concern Yes Bank saving accounts such as 2024 interest rates, types of account operating with it, features, eligibility, and a step-by-step process on how to open an account online/offline explaining document requirements along the way.

Yes Bank Offers Saving Account

What is Yes Bank Saving Account?

A saving account in the form of a deposit held at YES BANK that allows you to keep your liquid funds while giving some revenue on it based on interest rates with an ease of withdrawal and deposits. Its several features and opportunities are a solution to almost every financial problem, making your money work hard with utmost convenience.

Interest Rates for 2024

Even now, as of 2024 at the prevailing market rates Yes Bank provides decent interest on their savings account. Rates are tiered for balances in an account at the end of each day.

(Important: Interest rates fluctuate, and you should refer to Yes Bank's official website, or get in touch with the customer service for updated interest rates.)

Yes Bank Saving Accounts Types

The bank has designed a bouquet of savings accounts to cater to its diverse customer segments, Yes Bank said.

• Regular Savings Account: This is more or less a basic savings account.
• Savings Value Account (Less than 20 years): The perfect account for clients having Minimum Balance requirement but in need of basic services.
• Smart Salary Account: Specially designed for salaried with special advantages and offers.
• YES FIRST Savings Account - A premium savings account with the highest interest rates and personalized services.
• Customizable Savings Account: Gives customers an option to customize and choose the best features that can benefit their needs.
• Savings Advantage Account: Credit facilities with more benefits and additional privileges.

Yes Bank Saving Accounts Features & Benefits:

• Competitive Interest Rates: Make your savings work for you by earning interest at high rates.
• Free Debit Card: Get your debit card issued for free and continue to use it without any charge.
• Internet and Mobile Banking: Immediate account access and transaction capabilities using Internet & Mobile Banking at any time monitored by the cardholder.
• Active Defense Mechanisms: Implemented over-the-air management of device identity configuration parameters to restrict high-risk transactions, such as ATM cash withdrawal outside certain geographical regions.
• Unlimited ATM Access: Fees for the Yes Bank or its partner banks RouteServiceProvider.
• Transfer Funds: Effortlessly transfer funds with NEFT, RTGS, and IMPS.
• Bill Payments: Pay bills online, including utility and mobile recharges on the Yes Bank app.
• Alerts and Statements: Set alerts for payment status, and monthly statements via SMS.

Eligibility to Open Account

To open a Yes Bank savings account, you must satisfy the following eligibility conditions:

• Age: Must be a minimum of 18 years of age. A minor can open an account with a guardian.
• Residence: Should be domiciled in India. NRIs held savings accounts can also be opened.
• KYC Compliance: KYC (Know Your Customer) norms must be adhered to by possessing valid documents.

How to Open Yes Bank Saving Account Online

• Go to The Yes Bank Official Website: On the Yes Bank website, visit the Savings Account tab.
• Select the Account Type: Here, kindly choose your savings account.
• Fill Application Form: Please fill out the online application through personal and address information.
• Upload Documents: Upload scanned copies of your KYC documents (ID proof, address proof, photograph).
• Full KYC: You will be validated by Yes Bank. You will be contacted directly if additional verification is needed.
• Account Activation: If the verification process is successful, your account will be activated, and you will receive an email/SMS with details on how to access it.

YES Bank Offline Account Opening Process

• Visit a Yes Bank Branch: Take your KYC documents to the nearest branch of Yes Bank.
• Fill the Application Form: You need to acquire an application form for a savings account from the branch and complete it.
• Submit Documents: Send the filled application along with necessary KYC documents to the stated address or email ID.
• Verification: The bank will now check the documents and process your application.
• Account Activation: When you are validated and verified, your account will be activated with the details required for you to access it as well as a debit card.

Documents Required for Opening a Saving Account with Yes Bank

• Proof of Identity: PAN card, Aadhaar Card (Voter ID), Passport.
• Address Proof (Any one of the following): Utility bill, Rent agreement, Passport or Aadhar Card
• Passport Size Photographs: Latest photos.
• Additional Documents (if applicable): For minors, proof of age and guardian's ID proof.

Features of Yes Bank Saving Accounts:-

• Competitive Interest Rates: Get more out of your savings with higher interest rates.
• Convenience: Easy access to your money with a good branch and ATM networks.
• Experience Digital Banking: Efficient online and mobile transactions.
• Safety and Security: Your money is safe with a number of security features, including FDIC insurance.
• Added Services: Avail a range of services such as mobile recharges, bill payments, and more.

Yes Bank Customer Care Numbers

In case you have any queries or require help, do contact Yes Bank customer care:

• Toll-Free Number: 1800 1200
• Email: yestouch@yesbank.in
• SMS Banking: You can send an SMS to +91-92233-90909 with your query.

Yes Bank saving accounts serve a blend of competitive interest rates, convenience, and robust features to cater to the diverse needs of customers. Yes Bank offers a plethora of savings account options, be it the most basic one or with high-end features. It is easy to open an account both online and offline, and detailed customer support will help you out with your financial needs. So, if you are interested, open your account today and pave the way to a perfect financial future.