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Yes Bank Becomes Fifth to Cut Savings Deposit Interest Rates
August 18, 2017
After State Bank of India, Bank of Baroda, Axis Bank, and Kotak Mahindra Bank, Yes Bank has become the fifth lender to slash the interest rates on savings account deposits.
Effective from September 1, 2017, the applicable interest rate on the savings account deposits below Rs. 1 lakh in Yes Bank branches will be 5% instead of the current 6%. Similarly, the interest rate for deposits of Rs. 1 crore and above will be 6.25% instead of the current 6.50%.
