For NRIs looking to keep money in India, YES Bank currently offers NRE and NRO Fixed Deposit rates ranging from 3.25% to 7.00% p.a. on deposits below ₹3 Crores.
The bank’s strongest NRI FD rates are available on selected tenures between 18 months and 5 years, while NRE deposits continue to enjoy tax-free status in India.
Below is the latest YES Bank NRE & NRO FD Interest Rate Table.
| Tenure | NRE FD | NRO FD |
|---|---|---|
| 7 Days – 180 Days | Not Available | 3.25% – 4.75% |
| 181 Days – 335 Days | Not Available | 6.00% – 6.25% |
| 336 Days – Less than 12 Months | Not Available | 6.50% |
| 1 Year | 6.65% | 6.65% |
| 1 Year 1 Day – 18 Months | 6.75% | 6.75% |
| 18 Months 1 Day – Less than 24 Months | 7.00% | 7.00% |
| 24 Months – Less than 35 Months | 7.00% | 7.00% |
| 35 Months | 6.90% | 6.90% |
| 36 Months – Less than 60 Months | 7.00% | 7.00% |
| 60 Months – 120 Months | 6.75% | 6.75% |
📌 Important YES Bank NRI FD Rules
- NRE Fixed Deposits require a minimum tenure of 1 year
- NRO deposits can be opened from short durations starting at 7 days
- NRE and FCNR interest income is generally tax-free in India
- Minimum FD investment amount starts from ₹10,000
- Premature withdrawal may attract a penalty of around 0.50% to 1.00%
💡 NRI FD Tip: Don’t look only at the FD rate. The 36 to 60 months tenure gives an annualized yield of up to 7.19% because of quarterly compounding. The 35-month option offers a similar base rate of 6.90%, but lower compounding benefits. For better long-term returns, the 18-month+ and 36-month+ tenures are usually the better choice.
⚠ Important: NRO deposit interest is taxable in India and may attract TDS, whereas NRE and FCNR deposit interest remains exempt from Indian income tax subject to prevailing regulations.
Read Below: FCNR Deposit Rates • NRE vs NRO Accounts • Tax Rules • Premature Withdrawal Charges • Online FD Opening Process
1. YES Bank FCNR (B) Deposit Rates
If you do not want to convert your money into Indian Rupees, YES Bank also offers FCNR (B) Deposits in major foreign currencies such as USD, GBP, EUR, AUD, CAD, SGD, HKD, and JPY.
| Currency | 1 Year to < 2 Years | 2 Years to < 3 Years | 3 Years to < 4 Years |
|---|---|---|---|
| USD | 4.50% | 4.00% | 4.00% |
| GBP | 4.40% | 4.40% | 3.65% |
| EUR | 2.75% | 2.25% | 2.00% |
| AUD | 4.40% | 4.20% | 3.75% |
| CAD | 2.75% | 2.50% | 2.25% |
| SGD | 1.90% | 1.45% | 0.50% |
📌 Worth Knowing: FCNR deposits help NRIs avoid Rupee exchange-rate risk because the money remains in foreign currency. For customers looking for the highest FCNR return, USD (4.50%) and GBP/AUD (4.40%) currently offer the strongest rates in the 1 to 2-year tenure category.
2. Important Rules for YES Bank NRI Deposits
- 1. No Senior Citizen Extra Interest: NRI FDs do not get the additional senior citizen interest benefit.
- 2. NRE and NRO Options Available: Use an NRE Account for overseas earnings and an NRO Account for income earned in India, such as rent, pension, or dividends.
- 3. Minimum 1-Year Rule for NRE FDs: An NRE Fixed Deposit must generally remain active for at least 1 year to earn interest.
- 4. Premature Closure Charges: If you break the FD before maturity, the bank may apply a 1.00% penalty on the applicable interest rate.
- 5. Tax-Free NRE and FCNR Interest: Interest earned on eligible NRE and FCNR deposits is generally tax-free in India.
- 6. Loan Against FD: You can usually get a loan or overdraft of up to 90% of the FD value without closing the deposit.
- 7. Easy Fund Transfer Abroad: NRE and FCNR deposits offer easy repatriation of principal and interest, while NRO accounts follow RBI remittance rules.
3. FCNR vs NRE vs NRO: How Repatriability Works in Yes Bank
- Repatriability means you can take your money from India back to your foreign country — legally and through the banking system.
- This is controlled under FEMA and RBI rules.
- The bank is not blocking you; the law decides which account allows easy transfer and which requires tax proof.
- For NRIs this matters a lot, because earning happens abroad but savings often sit in India.
| Feature | NRE Account | FCNR Deposit | NRO Account |
|---|---|---|---|
| Can you send money abroad? | Yes, anytime | Yes, anytime | Yes, but limited |
| Annual limit | No limit | No limit | Up to USD 1 million per financial year |
| Currency | Rupees | Foreign currency | Rupees |
| Tax on interest | No tax | No tax | ~31% TDS applies |
| Paperwork | Very simple | Very simple | Needs tax forms (15CA/15CB) |
| Source of money | Foreign earnings | Foreign earnings | Indian income (rent/pension) |
| Transfer speed | 1–3 working days | 1–3 working days | Slower due to verification |
- NRE & FCNR – You can send the full FD amount and interest to your overseas account almost directly. Mostly only FEMA declaration (A2 form) required.
- NRO – Bank first checks the tax payment proof. A Chartered Accountant certificate (Form 15CA/15CB) may be required before transfer, especially above ₹5 lakh.
Real example
- Rahul works in Australia.
- He keeps ₹12 lakh in NRE FD → can transfer entire ₹12 lakh + interest to Australia anytime after maturity.
- Same ₹12 lakh in NRO FD → allowed, but within yearly USD 1 million cap and after tax clearance documents.
4. How to Open a YES Bank NRI Fixed Deposit
(a.) For Existing YES Bank NRI Customers
- Log in to YES Online or the YES Bank Mobile App.
- Select Open Fixed Deposit from the accounts section.
- Choose NRE FD, NRO FD, or FCNR Deposit.
- Enter the deposit amount and tenure.
- Add nominee details.
- Verify through OTP and submit the request.
(b.) For New NRI Customers
- Visit the YES Bank NRI Banking portal.
- Fill out the online application form.
- Upload your Passport, Visa, PAN, photograph, and overseas address proof.
- Complete the KYC and verification process.
- Fund the account and open your FD after activation.
📌 Good to Know: Existing YES Bank NRI customers can usually open an FD online within a few minutes, while new customers must first complete account opening and KYC formalities.
5. Top Bank Comparison: NRE Fixed Deposit Rates (Under ₹3 Crore)
| Bank | Peak NRE FD Rate | Best Tenure |
|---|---|---|
| YES Bank | 7.00% | 18 Months 1 Day to Less Than 24 Months |
| HDFC Bank | 6.60% | 18 Months to Less Than 21 Months |
| ICICI Bank | 7.00% | 15 Months to Less Than 2 Years |
| IDFC FIRST Bank | 7.50% | 1 Year 1 Day to 500 Days |
| SBI | 6.50% | 1 Year to Less Than 2 Years |
📌 Quick Insight: YES Bank’s NRE FD rates are competitive among major private banks. However, investors looking purely for the highest rate may also compare offers from ICICI Bank and IDFC FIRST Bank before locking their money.
Frequently Asked Questions
Where can I download YES Bank NRE FD rates PDF?
YES Bank publishes the official rate sheet on its website under NRI banking section. Always check the latest PDF before booking because rates can change, but booked FD keeps the same rate.
Does YES Bank provide an FD calculator?
Yes, the online calculator shows maturity instantly after entering amount and tenure. Treat it as an estimate only; NRO deposits credit slightly lower because tax deduction applies at each interest payout.
Is there a senior citizen extra rate in YES Bank NRI FD?
No extra interest for NRE and FCNR deposits. Even for NRO, tax deduction still applies. The senior citizen bonus you see in advertisements mainly belongs to resident domestic fixed deposits.
What is a YES Bank bulk FD rate?
Bulk FD generally means deposits above ₹3 crore. Bank negotiates those rates individually through a relationship manager, so public rate charts for retail customers usually do not apply there.
Can monthly income be taken from YES Bank NRI FD?
Yes, you can select monthly payout instead of cumulative FD. Many retirees use it for family expenses. In NRO account, monthly interest arrives after TDS deduction already applied.
Is YES Bank FD calculator maturity amount exact?
Not always exact. It calculates based on current interest slab and compounding. Actual maturity can vary slightly depending on booking date, quarterly compounding cycle, and tax deduction in NRO deposits.
Is NRE Fixed Deposit interest taxable in India?
No. All interest earned on NRE deposit balances is fully exempt from income tax in India.
Can I choose a joint NRI account with a resident Indian?
Yes. You can hold a joint NRO deposit account alongside a resident Indian relative under a “Former or Survivor” operations configuration.
What happens if I close an Yes Bank NRE FD before 1 year?
If closed within 1 year, zero interest is paid by the bank, and any premature withdrawal penalty charges may be applied to the principal.
Which FCNR currency pays the highest rate?
The US Dollar (USD) pays the highest rate at 4.50% p.a., followed closely by the British Pound (GBP) and Australian Dollar (AUD) at 4.40% p.a.
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