‘Floating rate fixed deposit are specialized services. These services are suitable for those who want a safe, dynamic return. These FD rates vary depending on the repo rate set by the central bank, ”said Yes Bank. But here’s another thing customers need to keep in mind. It should be noted that if the repo rate falls, the FD interest rate will also fall.
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You can open a floating FD account for a period of one to three years. That means you can choose the tenure you like in one to three years. At least Rs. 10 finger deposit is required. A maximum of Rs. Up to Rs 5 crore can be FD. Yes Bank CEO, MD Prashant Kumar said the new services would be made available to target customers. Mentioned to be ready to provide better services to customers in different segments. That is why we have brought this floating rate fixed deposit services.
He explained that interest rates on such floating fixed deposits would change automatically and that there was no need for banks to specifically reduce or raise FD rates again. Customers said the bank would not be involved. He added that this was another important step forward in providing better retail product services to the bank. Customers can avail these FD services by calling 07127191191. Or go to a bank branch and open this fixed deposit account. The bank offers 6.5 per cent interest on standard FDs. This applies to FDs above 18 months tenure. Senior citizens are getting 7.25 per cent interest on FDs for three years or more.
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