YES BANK Savings Account

Note: The interest rates mentioned in the table above are effective from 1 January 2026.

Features of YES Bank Savings Account 

Here are the features of YES Bank savings account as follows: 

1. The interest rate on your savings account at YES Bank is credited either quarterly or semi-annually 

1. Take advantage of the YES Rewards Loyalty Program by accruing reward points for shopping, movies, vacation, and recharge 

1. Take use of internet banking systems' savings account capabilities. With a few clicks, you may obtain statements, check transaction history, pay bills, transfer money, and more 

1. Benefit from the doorstep banking services offered by YES Bank 

1. On certain savings accounts, take advantage of high fixed deposit interest rates and insurance coverage 

1. Get a debit card with special deals 

1. With video KYC, opening a savings account is simple 

1. For women, children, or senior citizens, select customized savings accounts 

1. Take advantage of the features that add value to your savings account. 

How to Open a YES BANK Savings Account Online?

To apply for YES Bank savings account, you must follow the steps given below: 

1. Go to the homepage of YES Bank

1. On the home screen, choose "Accounts" and then "Savings Account" 

1. Click "Open Savings Account Online" after selecting the savings account you want to start 

1. Click "Submit" after completing the application form with the required information 

1. Your unique account number, which you will use for all upcoming banking transactions, will be generated after submission 

1. Make sure your KYC documents are prepared after submitting the application 

1. Within a few hours, a bank representative will get in touch with you to arrange for the collection and verification of your KYC documents. 

How to Open a YES BANK Savings Account Offline 

The applicant must go to the YES Bank branch that is closest to them in order to open a YES Bank savings account offline. The procedures for opening a YES Bank savings account offline are listed below.  

Step 1: Visit the nearby YES Bank branch and complete the application for a savings account. 

Step 2: The bank representative will ask you for some basic information; be sure to give it to them. Examples of such information include your phone number, email address, Aadhaar card, and PAN card number. 

Step 3: At this point, the bank representative will ask you to select the type of YES bank savings account you want to open. Make your selection in accordance with your needs and requirements. 

Step 4: If the account has no balance, it is not necessary to make a cash deposit. If not, you must deposit the money according to the type of YES bank savings account you are opening. 

 Step 5: Gather all the supporting documentation and the deposit cash slip, then present them to the banking representative along with your identification. 

 Step 6: After the bank has verified all the information you have provided, YES bank will open your YES bank savings account will be opened. 

 Step 7: A welcome kit containing all the paperwork you'll need to manage the account will be sent to your address.  

Benefits of YES Bank Savings Account 

The benefits of opening a savings account with YES Bank are as follows: 

1. Take use of online banking's free NEFT/RTGS payment features 

1. Utility payments can be easily paid with your YES BANK savings account 

1. Access a vast network of ATMs at every bank in the country to take out cash 

1. Take advantage of free demand draft (DD) issuance through branches and online banking 

1. Take benefits from SMS and mobile banking services.

Types of YES BANK Savings Account:

The many kinds of savings accounts that YES Bank offers are as follows: 

1. Digital Savings Account (YES) 

1. YES Pro Max Savings Account 

1. YES Pro Plus Savings Account 

1. YES Respect Savings Account 

1. Account for the Pradhan Mantri Jan-Dhan Yojana 

1. Account for YES Pro Savings 

1. My First YES Savings Account  

1. Account for YES Essence Savings 

1. Limited KYC for the YES Digital Savings Account 

Documents Required for YES BANK Savings Account

To open a savings account with YES Bank, applicants must submit the listed documents. Self-attested copies of each document should be provided. The applicant must provide original documents at the time of verification. 

1. Identity proof (PAN Card, Voters ID, driving license, passport, Aadhaar card and NREGA card) 
2. PAN Card 
3. Form 60 (If you dont have a PAN card) 

1. Address proof (Passport, PAN Card, Aadhar card, Voters ID, driving license, and NREGA card) 
2. Latest photographs 

Penalties for Not Maintaining Your YES Bank Savings Account's Minimum Balance 

If you don't keep up the necessary average monthly balance (AMB), YES Bank will charge you. The following are the specific penalty charges that will take effect on 1 June 2026: 

1. The General Structure of Penalties 

1. Balance above 100% of AMB: No fine 

1. 5% of the shortfall is the balance between 50% and 99% of AMB 

1. 10% of the shortfall (5% for Savings Value account) if the balance is less than 50% of AMB. 

2. Penalties for Specific Account 

How to Calculate the YES Bank Savings Account Interest Rate?  

Depending on the bank's policy, the interest rate on your savings account at YES Bank is computed every day based on the closing balance of your account and credited either quarterly or half-yearly. 

Let's give an illustration. Assume your savings account has a balance of Rs.5,00,000 with a 3% yearly interest rate. Applying the formula: 

• Monthly Interest = 1,00,000 × 30 × (3/100) ÷ 365 = Rs.246 (approximately) 
• The interest rate on the remaining balance is about 4,00,000 × 30 × (3/100) ÷ 365 = Rs.986 approximately 

1. Therefore, keeping a balance of Rs.5 lakh would result in an estimated Rs.1,232 in interest each month, or roughly Rs.14,784 over the course of the year 

1. The Yes Bank savings account in 2026 provides adjustable options to meet the demands of various customers, along with attractive returns. You can take advantage of simple banking services and optimize the interest rate on your Yes Bank savings account by keeping the required balance. 

YES PAY

YES PAY is a digital wallet launched by YES BANK to facilitate smart phone and social media users to transact seamlessly for payments and receipts. All YES BANK customers and non-customers can register for this wallet and will receive a free virtual online card that can be used to make online transactions such as mobile and DTH recharges, purchase gift vouchers and discount coupons and pay bills.

Benefits of YES PAY

1. Transfer funds to YES PAY users or bank accounts.
2. Request for money from your contacts.
3. Split bills or expenses amongst a group.
4. Set goals to contribute a specified amount regularly for in-app purchases.
5. Recharge your phone or DTH.
6. Shop online at over 30,000 merchants with a single click.
7. When you purchase a mobile or tablet with YES PAY, you can purchase insurance to safeguard you against expenses for handset damage, replacement and loss.
8. Get attractive reward points for transactions made through YES PAY.
9. Pay your bills.
10. You can also download the latest songs across a variety of categories.

How to use YES PAY?

Download the mobile app and register for the wallet. Through Facebook, one can easily access their YES PAY wallet without registration. Enter your mobile number and then the OTP. Set a 6-digit PIN as your login. You need to enter your personal details and set secret questions. Your wallet will be created.

To use the YES PAY wallet you simply need to load money through your YES BANK account or any other bank account using Internet banking or a debit card, or IMPS. Once the money is in your wallet, you can transfer funds and pay for a variety of purchases and bills by selecting the "YES PAY" option while checking out.

Note: With effect from 1st November 2015, the interest rate of 6% p.a. will be applicable on Savings Account balances. Rates are subject to change at the sole discretion of YES BANK. Conditions apply. For more details, please visit the nearest YESBANK branch or Yes Bank Official Site.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.