Yes Bank

Yes Bank

Yes Bank is a public company private sector bank that was founded in the year 2004 by Rana Kapoor and Late Ashok Kapoor. It is a full service commercial bank head-quartered in Mumbai, India. The bank provides banking and financial products and services to the customers. It has strength of over 600 branches and more than 2000 ATMs. This bank is considered the fourth largest bank in the private sector as compared to other banks.


The Indian Financial System Code is the full form of the shortened IFSC code. One code is assigned to one branch of the bank and every code thus becomes unique. This code is used to identify the branch in case of electronic fund transfers. As an example, IFSC code of Manimajra branch, Chandigarh is YESB0000274 whereas the IFSC code for Sector 35 Chandigarh branch, Chandigarh is YESB0000272.

Credit Cards

Three types of credit cards in association with American Express are offered by YES Bank which helps for cashless transactions. The cards offer good discounts and rewards on travel and lifestyle spending.

American Express Platinum Reserve Credit Card

This card offers privileges on flights and hotels by offering reward points. It also offers free access to airport lounges and golf courses.

American Express Platinum Travel Credit Card

This card offers the card-holder to complimentary air tickets and hotel stays. They also provide reward points that are redeemable for discount airfare vouchers.

American Express Gold Card

This card has no free-set limit and provides services like Zero Lost Card Liability and Online Fraud Protection.

Credit Card Statement

The transactions which are done using a credit card are recorded in a chronological order so that the customer can view his transactions and also make payments for the outstanding amount on such transactions. This record is called a Credit Card Statement which is sent to the individual at the end of every billing cycle which is usually one month.


Loans of all varieties are offered by the bank as a long term credit facility. These loans include:

Home Loans

Loans required by individuals to either buy or construct their homes or for buying a residential plot with the intention of construction of a house thereon are provided by the bank under its category of Home Loans. Both salaried and non-salaried self-employed individual can avail of this Home Loan and the period of the loan is 25 years. The loan process is simple and the customers can avail to doorstep services. It also offers balance transfer facility and the pricing is very competitive.

Interest Rates

Four varied types of Savings Accounts are offered by YES bank and each account also earns an interest rate. The accounts are:

  • Savings value account
  • Savings advantage account
  • Savings select account
  • Savings exclusive account

All these savings bank accounts earn an interest rate as higher as 6% p.a.

Fixed Deposit Interest Rates

Apart from savings accounts, term deposit or fixed deposit accounts are also offered by the bank which enables the customer to save and earn a higher rate of interest than that promised by the savings account. The rates depend on the tenure and are:

  • Short-term Deposit Rates-for deposits maturing within 1 year, the rate is 5.50% to 7.25% p.a.
  • Medium and long-term deposit rates-for deposits maturing after 1 year and within 5 years, the rate ranges from 8.85% p.a. to 7.50% p.a.
  • Deposit rates for senior citizens-senior citizens are eligible to earn a higher rate of interest which increases by 0.50% against every applicable rate.

NRI Banking

NRIs or Non-Residential Indians can also avail banking services from YES BANK as the bank caters to their requirements too in the form of the following accounts:

NRE Savings Account-

This account is a Rupee denominated account and can be maintained in the form of savings account. The fund is fully repatriable and it offers personalised cheque book. Through this account, online bill payments are also possible.

NRO Savings Account-

It is a Rupee denominated savings account that offers domestic debit card facility. It helps to manage the finances that are available in India easily.

Seafarer Account-

This account can be maintained in the form of savings account with zero balance. It provides a debit card without any cost and the facility to monitor the money. The interest rate in this account is also very competitive and attractive.

Internet Banking

With the easy availability of internet, banking transactions have become online and YES BANK is also not lagging behind when it comes to offer the online medium of making transactions. The following transactions are available to customers who can bank online:

  • Online mobile bill payments
  • Payment of premium related to insurance
  • Payments of credit cards
  • Repayment of loans
  • Payment of donations and charity
  • Payments related to religious purposes.
  • Payments to educational institutions
  • Details of the balances in the account.
  • Statement of the account.
  • Transfer of funds.
  • Payment of taxes.
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