In order to make savings and ensure a bright future, every person makes an attempt to save money and invest it in investments providing good returns. Recurring deposits are just one of the ways that allow a common man to save his money and step ahead in his life. Yes Bank recurring deposit is one of the most attractive recurring deposit options in the market.
What is a recurring deposit?
Recurring deposit is a convenient deposit option wherein, a person is required to deposit a fixed sum of money at every fixed interval, up to a specific term. The return for the owner of the deposit is the interest which accrues on the money that is deposited over the tenure of the deposit. A longer term and higher deposit amount means better and higher interest returns for the depositor.
Recurring deposits are most suitable for salaried employees and for those who hold the capacity to spare a fixed sum out of their monthly earnings. The following are the rates of interest that one can earn on their Yes Bank recurring deposit which is less than INR 1 crore:
|Deposit Tenure||ROI (% p.a.)||ROI for Senior Citizens (% p.a.)|
|Above 2 years up to 10 Years||7.10%||7.60%|
Understanding the importance of a recurring deposit
For a number of reasons, Yes Bank recurring deposit is a huge success for the middle strata of the economy. The importance of savings and deposits is understood majorly by none other than the middle class and the common man, who require finances to meet various needs and milestones in his life. Since Yes Bank recurring deposit encourages a customer to make regular and timely deposits in his recurring deposit account, the person avails a ready sum of money for use in the future, as per his financial needs. As against a fixed deposit, a recurring deposit offers greater flexibility and choice of tenure and amount of investment.
With Yes bank recurring deposit, a customer can earn the highest rates of returns on his recurring deposit investment with Yes Bank. High interest rate, nominal fees, charges and responsiveness to requests, Yes Bank truly holds one of the most promising avenues for customers to invest their money. The excellent customer support of the bank also allows its deposit customers to reach out to the bank at any time and enquire details about the different services offered by the bank. So, if you are also looking forward to open a recurring deposit account with Yes bank, you can open a fixed deposit online or call them right away and ask for support in the matter, which shall be resolved at the earliest.