YES BANK hikes Fixed Deposit rate to 8 per cent per annum

Mumbai, June 27 (UNI) YES BANK, India's new-age private sector bank, today announced the launch of a Special Fixed Deposit Scheme targeted at providing Retail Investors with an opportunity to earn an attractive return of 8 per cent.

This interest rate, effective from June 28, this year is applicable for deposit values between Rs 10,000 and Rs one crore for a period of 10 months and one day.

The Special Scheme offers a return which is at least 100 basis points higher than the standard rate offered by peer Banks in the Industry.

Expecting a favourable response to this offer, Mr Rana Kapoor, MD&CEO, YES BANK, said,''This product has been announced considering the recent meltdown in the markets for commodities, real estate and stocks. For the small investor, the allocation to deposits is likely to go up as his risk appetite stands diminished with market volatility that can cause financial losses. We, at YES BANK understand the need for security. This Special Deposit Scheme will offer individual investors both easy liquidity and safe returns.

UNI AR PM SKB1521