1. Yes Bank cuts interest rate on saving account to 6%

Yes Bank cuts interest rate on saving account to 6%

Private sector lender Yes Bank today slashed interest rate on savings account by 1 per cent to 6 per cent.

By: | New Delhi | Published: October 20, 2015 6:40 PM
yes bank

Private sector lender Yes Bank today slashed interest rate on savings account by 1 per cent to 6 per cent. (Reuters)

Private sector lender Yes Bank today slashed interest rate on savings account by 1 per cent to 6 per cent.

The interest rate for resident and non-resident savings account has been revised from 7 per cent to 6 per cent with effect from November 1, Yes Bank said in a statement.

The bank had raised interest rate on savings deposit to 7 per cent in 2011.

The rate is paid on savings bank account which is calculated on daily basis.

Kotak Mahindra Bank is also offering 6 per cent interest to their savings account holders while all the public sector banks are currently paying 4 per cent interest on the same.

Yes Bank today leverages its 700 plus branch network, over 1300 ATMs, a wide range of offerings and a strong digital presence with growing emphasis on retail banking customers, it said.

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