YES Bank Savings Account – Interest Rate, Minimum Balance, Types & Eligibility

YES Prosperity Pro Max Savings Account

YES Prosperity Pro Max savings account comes in three variants. This saving account offers various benefits like Prime Video subscription free for 2 months, free Uber vouchers etc. This savings account lets customers earn up to 25,000 YES Rewardz in the first year on banking activities. Let us discuss in detail the variants of these accounts with their features.

Prosperity Pro Max

• Average monthly balance to be maintained is Rs. 50,000
• The debit card of this variant offers lifestyle benefits worth Rs. 1,17,615
• Debit card for the first year is free, thereafter, Rs. 599 + GST will be charged
• Amazon Prime subscription for two months
• Uber voucher of Rs. 100 for two months is free
• BigBasket voucher of Rs. 100 for two months is free
• Dominoz’s Pizza voucher of Rs. 100 for three months is free
• 50% discount on locker facility for the first year, thereafter 10%
• 5 times additional Rewardz on some selected transactions

Prosperity Pro Plus

• Average monthly balance to be maintained is Rs. 25,000
• Debit card of this variant offers lifestyle benefits worth Rs. 23,000
• Debit card charges are Rs. 399 + GST
• 30% waiver on locker facility for the 1^styear only

Prosperity Pro

• Average monthly balance to be maintained is Rs. 10,000
• Debit card of this variant offers lifestyle benefits worth Rs. 21,000
• Debit card charges are Rs. 249 + GST
• 30% waiver on locker facility for the 1^styear only

YES Respect Prosperity and Senior Citizen Savings Account

YES Respect Prosperity savings account is specially designed for senior citizens. As senior citizens have different needs and priorities, this account is made to cater to their needs and priorities. The account offers higher interest rates and a hassle-free banking experience to senior citizens. The account also offers free email and SMS alert facility. Below-mentioned are the features offered by this savings account.

• 5% additional interest can be earned on fixed deposits with YES Bank
• Loyalty reward points can be earned on regular banking activities. These reward points can be redeemed against shopping vouchers, in-store purchases, and recharges
• Convenient and free banking services across all YES Bank branches
• No charges on withdrawing cash from YES Bank ATMs
• Pay bills and make online fund transfers 24×7 for free through NEFT, RTGS, and UPI
• A dedicated customer care agent is assigned to senior citizens

YES Digital Savings Account

YES Digital savings account is designed for individuals who want to open an account from the comfort of their home. This account can be opened digitally without any hassle. It is fast and easy. There is no need to visit the branch to get this account opened. This digital account by YES Bank comes in three variants. Below-mentioned are the variants with the features offered by these variants.

Savings Account PRO Limited Account with Restricted Operability

This account by YES Bank offers limited features to the account holders since it doesn’t involve doing a video KYC process. Below-mentioned are the features offered by this account.

• No minimum balance to be maintained
• Virtual instant Platinum Visa debit card is issued
• Virtual debit card shopping limit is Rs. 50,000
• Transaction limit from domestic ATM is Rs. 30,000
• Domestic POS limit is Rs. 1,00,000

It is not be noted that the customer won’t be able to access many facilities like getting a physical debit card, higher cash withdrawal limit, locker discounts and many more on this savings account. If the customer intends to avail other facilities, then he/she will have to do the video KYC and avail enhanced features. In order to do so, the customer can open the below-mentioned account with more features since the validity of this account is only 12 months.

Savings Account PRO Fully Operated with Video KYC

• Average minimum balance to be maintained is Rs. 10,000
• The account is valid for lifetime from the date of opening
• Instant virtual Platinum Visa debit card is issued
• Shopping limit from a virtual debit card is Rs. 50,000
• Element debit card is issued physically on request
• Domestic ATM cash withdrawal limit is Rs. 30,000
• Domestic POS transaction limit is Rs. 1,00,000

Savings Account PRO Plus Fully Operative with Video KYC

• Average minimum balance to be maintained is Rs. 25,000
• The account is valid for lifetime
• ENGAGE debit card is issued
• Domestic ATM transaction limit is Rs. 50,000
• Domestic POS limit is Rs. 1,50,000

YES Women Savings Account

Women savings account by YES Bank is exclusively designed to cater to the needs of women. This account gives women an opportunity to start investing and saving simultaneously. The account offers exclusive offers and benefits to women. The account offers auto-sweep facility where balance exceeding Rs. 75,000 will automatically be converted to a fixed deposit on fortnight basis. Below-mentioned are the features offered by this savings account.

• Free SMS and e-mail alert facility
• Customized ENGAGE debit card curated with lifestyle benefits is issued
• Higher daily cash withdrawal limit
• Higher POS limit
• Opportunity to earn 5 times reward points on all domestic retail spends using ENGAGE debit card
• Withdraw cash for free across all YES Bank ATMs
• Facility to transfer funds and make bill payment 24×7 through NEFT, RTGS, and UPI

Regular Savings Account

Regular savings account by YES Bank comes with exclusive benefits like lifestyle offers and add-on products. This account has two variants. Let us discuss in details about the variants of this account with the features offered by these variants.

Regular Savings Account PRO

• Average monthly balance to be maintained is Rs. 10,000
• Freedom from average monthly balance if the customer maintains a fixed deposit of Rs. 50,000
• ELEMENT debit card is issued
• Opportunity to earn reward points on regular banking transactions
• 10% waiver on locker rental charges for the 1^styear
• Offers on gold, home, two-wheeler loan, etc. at regular price

Regular Savings Account PRO Plus

• Average monthly balance to be maintained is Rs. 25,000
• Freedom from average monthly balance if the customer maintains a fixed deposit of Rs. 1,25,000
• ENGAGE debit card is issued
• Free SMS alert facility
• 30% waiver on locker rental charges for the 1^styear
• Offers on gold, home, two-wheeler loan, etc. at preferential price

My First YES Savings Account

My First YES savings account is designed for the needs of your children. Letting children know the importance of savings is crucial in today’s time. Hence, this savings account by YES Bank acts as a piggy bank for your kind where they can see their money grow. This account gives the benefit of higher returns and is a step towards financial literacy for kids. The account offers below-mentioned features.

• Average monthly balance to be maintained is Rs. 2,500
• Save for children in form of fixed and recurring deposits
• Issue demand draft up to defined limits by visiting the branch or Netbanking
• Customize withdrawal limit on debit card
• Mobile and SMS banking facility to keep you updated on account activities

YES Savings Value Account

YES Savings Value Account offers a host of banking benefits like high interest rates, reward points, etc. It offers banking services with a minimum balance requirement which is available at select branches only. Let us know more about the features offered by this savings account.

• 500 reward points at the time of opening the account
• Unlimited access to ATMs of any bank across India
• SMS and mobile banking facility to keep you updated on all the activities of your account
• Interest is paid out on a quarterly basis

YES Family Savings Account

YES family savings account by YES Bank is specially designed keeping in mind the needs of families. It is a premium account curated to provide a delightful experience for the entire family. This account offers selected benefits to the account holders. This savings account by YES Bank has two variants called YES First-YES Family and YES Premia-YES Family. Customers can choose from the variants available as per their requirements and needs.

It is to be noted that the overall family relationship needs to maintain either Rs. 8,00,000 as average monthly balance including current and savings account or Rs. 30,00,000 including current and savings account plus fixed deposits.

Let us discuss in detail about the features offered by these variants of this account.

YES First-YES Family

• A dedicated team of experts is provided for all banking needs, wealth management, and services required
• An ELECTRIC debit card is provided with benefits worth Rs. 1.6 lakh and YES FIRST credit cardis provided with complimentary benefits for family members
• A complimentary voucher of Rs. 5,000 from Taj Hotels is provided to the primary customer
• Locker of any size is given complimentary in the first year, thereafter 60% lifetime discount is provided for all family members
• Opportunity to earn 3x rewards on banking services
• The account provides benefits beyond banking like complimentary tickets with BookMyShow

YES Premia-YES Family

• Elevate debit card is issued to all family members
• Complementary quarter access to domestic air lounges
• Offers on loan products at a preferential rate
• A dedicated relationship manager for the entire family is provided
• Annual health membership from vHealth by Aetna with benefits worth Rs. 18,600 is complimentary. It is to be noted that the membership is applicable for new YES Premia Family customers with primary customer ID only

Note: Terms and conditions are applicable to the above-mentioned features of both variants. To know in detail about the mentioned features, kindly refer to YES Bank’s official website.

Pradhan Mantri Jan-Dhan Yojana (PMJDY) Savings Account

Pradhan Mantri Jan-Dhan Yojana savings account by YES Bank ensures that all unbanked persons own a savings account for their basic banking needs. There is no requirement to maintain any minimum balance in this savings account. The account gives access to financial services like banking, savings, insurance, and remittance to customers which are affordable for them. Below-mentioned are the features provided by PMJDY savings account to customers.

• Customers can earn high returns of their savings account balance
• RuPay PMJDY debit card is issued with offers
• Customers can avail unlimited access to ATMs of any bank across India
• Customers can avail accidental insurance cover

Applicants need to submit the below-mentioned documents to open a savings account in YES Bank:

• Duly filled savings account application form
• PAN Card/Form 60 with reasons for not having a PAN card
• Recent photographs of the applicant
• Proof of identity with signature
• Address proof

The applicant needs to provide the below-mentioned documents as address and signature, proof of identity and acceptable KYC documents:

• PAN Card
• Valid driving license
• Valid passport
• Voter’s ID card
• Aadhaar card
• E-Aadhaar (can be downloaded from UIDAI’s website)
• NREGA card

While doing the documentation process, the applicant needs to keep in mind the below-mentioned points:

• Provide self-attested copies for all the documents
• At the time of verification, the applicant needs to present original documents

Note: Documents required for KYC may vary as per the prevalent guidelines as well as the bank’s internal policy.

Category	Charges on Savings Account	Charges on Savings PRO (Limited KYC)
Account Closure	No charges for closing the account within 30 days or after 1 year. Else, Rs. 500 will be charged	No charges for closing the account within 30 days or after 1 year. Else, Rs. 500 will be charged
Debit Card Annual Fee	Element Debit Card: Rs. 249 Engage Debit Card: Rs. 399 Explore Debit Card: Rs. 599 RuPay Debit Card (Only for Kisan account): Rs. 99	Element Debit Card: Rs. 249 (Will only be provided if the request has been received through YES Online)
ATM transactions outside India	Cash withdrawal: Rs. 120 per transaction Balance Enquiry: Rs. 20 per transaction	Cash withdrawal: Rs. 120 per transaction Balance Enquiry: Rs. 20 per transaction
ATM transactions at other bank ATMs in India	Financial Transactions: First 5 transactions are free per month, thereafter, Rs. 21 per transaction will be charged Non-Financial Transactions: Free	Financial Transactions: First 5 transactions are free per month, thereafter, Rs. 21 per transaction will be charged Non-Financial Transactions: Free
Generation of PIN through Branch	Rs. 25 per instance	Rs. 25 per instance
Replacement of Loss/Stolen Debit Card	Rs. 199 per instance	Rs. 199 per instance
Cross Currency Mark -up on Debit Card	3%	3%
Duplicate Passbook	Rs. 100 per passbook	Not Available

Below-mentioned is the eligibility criteria to apply for YES Bank savings account:

Type of Account	Eligibility Criteria
YES Prosperity Pro Max Savings Account	Indian citizen who are above the age of 18
YES Respect Prosperity and Senior Citizen Savings Account	Indian resident Should be 60 years of age or above Primary or first account holder should be a senior citizen
YES Digital Savings Account	Resident individuals who are above 18 years of age
Women Savings Account	Indian resident female Should be 18 years of age or above Primary or first account holder should be a woman
Regular Savings Account	For Savings Account PRO Indian resident who is 18 years of age and above For Savings Account PRO Plus Indian Resident Age: >18 years & <60 years
My First YES Savings Account	Any child who is the age group of 1 day to 18 years
YES Savings Value Account	Indian citizen above 18 years of age
YES Family Savings Account	Open minimum 2 family account Average monthly balance should be Rs. 50,000 Fixed deposit of Rs. 5,00,000 and above
Pradhan Mantri Jan-Dhan Yojana Account	Indian citizens not holding any other savings account in the bank

 

To open online savings account in YES Bank, there are a few things that the applicant needs to keep in mind. Below-mentioned are the things to note:

• The applicant should be present in India physically
• Keep your PAN and Aadhaar card details handy at the time of filling the account opening form
• Allow quick access to UPI or any other bank details to fund your digital savings account

Below-mentioned steps explain how to open a savings account in YES Bank online:

Step 1: Go to YES Bank’s official website and navigate to “Accounts”

Step 2: Under “Accounts”, navigate to “Savings Account”

Step 3: You will see several savings account options under “Savings Account”, click on “YES Digital Savings Account”

Step 4: On the next page, you will see two options “Open Account” and “Request Callback”

Step 5: Click on “Open Account”

Step 6: On the next page, click on “Open Savings Account”

Step 7: The bank will now ask you to provide your details like mobile number linked to your Aadhaar, email id, Aadhaar and PAN card

Step 8: Provide all the details as asked, the bank will verify the details and will open the account upon successful verification

If the applicant wants to open YES Bank savings account offline, the applicant will have to visit the nearest branch of YES Bank. Below-mentioned steps explain how to open YES Bank savings account offline.

Step 1: Fill in the savings account application form upon visiting the nearest branch of YES Bank

Step 2: The bank official will ask for your basic details, provide the bank official with all your basic details like mobile number, email id, PAN card, and Aadhaar card number

Step 3: The bank official will now ask you to choose the type of savings account you want to open, choose the account as per your needs and requirements

Step 4: If it’s a zero balance account then there is no need to deposit any cash in the account. Else, you will have to deposit the cash based upon the type of savings account you are opening

Step 5: Collate all the documents with the deposit cash slip and submit the documents with your proof of identity to the banking official

Step 6: The bank will verify all the details provided by you and upon verification by the bank, your account will be opened

You will receive a welcome kit consisting of all the documents to help you operate the account.

YES Bank Current Account	YES Bank Home Loan
YES Bank Loan Against Property	YES Bank Personal Loan
YES Bank Fixed Deposit	YES Bank Credit Card
YES Bank Debit Card	YES Bank Balance Enquiry
YES Bank Mobile Banking	YES Bank Net Banking
YES Bank Customer Care

Q. Can I open a savings joint account digitally in YES Bank?
Ans. Currently, a digital savings account can be opened for a single account holder. If you want to open a joint account, you will have to visit YES Bank’s branch.

Q. What is the minimum balance in a Yes bank savings account?
The minimum average monthly balance to maintain for Yes Bank savings accounts is Rs. 10,000.

Q. What is the process to update the signature for a savings account in YES Bank?
Ans. To update your signature, you will have to visit any nearby YES Bank’s branch with proof of your signature.

Q. How can I stop cheque payment in YES Bank?
Ans. Below-mentioned are the ways to stop your cheque payment in YES Bank:

• By visiting the branch
• IVR
• Netbanking
• SMS banking
• Mobile banking
• By calling the contact center of YES Bank

Q. How can I update my type of savings account in YES Bank?
Ans. To update your savings account type in YES Bank, you will have to place a request at the nearest branch of the bank.

Q. What is the process to change or update the mobile number in YES Bank?
Ans. To change or update your mobile number in YES Bank, you will have to place a request at the branch for the same.

Q. Where can I view my statements of account in YES Bank?
Ans. You can view your account’s statements by logging into YES Online app or you can also register your email id with the bank to receive your monthly account statements.

Q. What is the process to convert a Limited KYC account into a Full KYC account?
Ans. The process to convert a Limited KYC account to a Full KYC account is by visiting any branch of YES Bank and doing a physical face-to-face KYC verification.

Q. I am a Yes Bank customer. Will I automatically be registered for Yes Pay?
No, to register yourself for Yes Pay (digital money wallet) you will have to download the app on your mobile and get registered with the help of your mobile number.

Q. What happens if you don’t maintain a minimum balance in Yes Bank?
If you are unable to maintain a minimum balance then the bank shall levy some penalty and further this practice shall hurt your credit score.

Q. What are the Yes bank ATM transaction charges on savings accounts?
The first 5 transactions are free in a month, afterwards Rs. 21 + taxes shall be charged for each transaction.