A

PROJECT REPORT
SUBMITTED TO

UNIVERSITY OF MUMBAI

SHREE SHANKAR NARAYAN COLLEGE

OF PROFESSIONAL COURSES,
NAVGHAR ROAD, BHAYENDAR (E), THANE-401 105
ACADEMIC YEAR-2016-2017
T.Y.BBI
PROJECT- FIRE INSURANCE
SUBMITTED BY
ASHOK UMAJI SATHALE

GUIDED BY
PROF. VIPIN DUBEY SIR
 DECLARATION

I ASHOK UMAJI SATHALE student of T.Y.BBI hereby declare

that I have completed this project on FIRE INSURANCEAll the
information submitted is true and original to the best of my
knowledge.

Signature of Student
ASHOK U. SATHALE
 ACKNOWLEDGMENT

I would to take this opportunity to thank everybody who helped through the successful
completion of this project. Many people have contributed to my achievements during the
project and take this opportunity to thank each one of them at the end of the project durations.

I would like to thanks the UNIVERSITY OF MUMBAI to include this project in the
curriculum which brings out our observed analyzing and interpreting skills to the maximum.

I extend my sincere gratitude to the honorable principle Dr. V. N. YADAV For the Work that I
am able to present would just not have been possible without his guidelines.

I would also like to thank the coordinator and the project guide PROF. VIPIN DUBEY
for their constant encouragement. Intellectual solution and valuable suggestions throughout
the making of this project. And I would like to thank all the fifty people who provided me the
primary information. Lastly I would like to thank my colleagues, my friends and all those
people who have lent me a helping hand in finishing this project.

Signature of Student
ASHOK U. SATHALE
 PROJECTPROFILE
TITLE:-YES BANK of provided product and services.

Objective of YES Bank

Continuous technology up gradation while maintaining human values.
Progressive globalization & achieving international standards.

Objective of student
An objective is defined by the actual identification and description of an existing condition.

That requires consideration for improving the overall performance of the organization.

For any study deciding the objective is the important step which defines the activities to be

Undertaken and the individual to focus on the important issues.

To know the various services of Yes Bank.

To know the method of banking.

To know the banking and financial terms used in day-to-day life.

YES Bank is a reputed bank and it provided me a great platform for my growth.

It gave me the opportunity of proper exposure.

 Tables ofContents
Sr.No Chapter Page No
1. Structure of Indian Banking 1-6
System
2 Introduction of YES BANK 7-40
History of the concern
Types of Deposits
Saving Deposits
Current Deposits
Fixed Deposits
Recurring Deposits
3. Loans 41-50
4. RESEARCH METHODOLOGY 51
5. DATA ANALYSIS AND 52-58
INTERPRETATION
6. Conclusion 59-60
7. Bibliography 61
8. Annexure 62-63
 INTRODUCTION

A bank is an institution that deals in money and its substitutes and provides other financial
services. Banks accept deposits and make loans or make an investment to derive a profit from
the difference in the interest rates paid and charged, respectively.

In India the banks are being segregated in different groups. Each group has their own benefits
and limitations in operating in India. Each has their own dedicated target market. Few of
them only work in rural sector while others in both rural as well as urban. Many even are
only catering in cities. Some are of Indian origin and some are foreign players.

Indias economy has been one of the stars of global economics in recent years. It has grown
by more than 9% for three years running. The economy of India is as diverse as it is large,
with a number of major sectors including manufacturing industries, agriculture, textiles and
handicrafts, and services. Agriculture is a major component of the Indian economy, as over
66% of the Indian population earns its livelihood from this area. Banking sector is considered
as a booming sector in Indian economy recently. Banking is a vital system for developing
economy for the nation.

However, Indian banking system and economy has been facing various challenges and
problems which have discussed in other parts of project

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 INDIAN BANKING SYSTEM

Banking in India originated in the first decade of 18th century with The General Bank of
India coming into existence in 1786. This was followed by Bank of Hindustan. Both these
banks are now defunct. The oldest bank in existence in India is the State Bank of India being
established as The Bank of Bengal" in Calcutta in June 1806. A couple of decades later,
foreign banks like Credit Lyonnais started their Calcutta operations in the 1850s. At that point
of time, Calcutta was the most active trading port, mainly due to the trade of the British
Empire, and due to which banking activity took roots there and prospered.

The first fully Indian owned bank was the Allahabad Bank, which was established in 1865.
By the 1900s, the market expanded with the establishment of banks such as Punjab National
Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of which were
founded under private ownership. The Reserve Bank of India formally took on the
responsibility of regulating the Indian banking sector from 1935. After India's independence
in 1947, the Reserve Bank was nationalized and given broader powers.

The Public Sector emerged as the driver of economic growth consequent to the industrial
revolution in Europe. With the advent of globalization, the public sector faced new challenges
in the developed economies. No longer the public sector had the privilege of operating in a
sellers market and had to face competition both from domestic and international competitors.
Further, in the second half of the 20th century in the developed economies, the political
opinion started swinging towards the views that the intervention as well as investment by
Government in commercial activities should be reduced to the extent possible.

Without a sound and effective banking system in India it cannot have a healthy economy. The
banking system of India should not only be hassle free but it should be able to meet new
challenges posed by the technology and any other external and internal factors. For the past
three decades India's banking system has several outstanding achievements to its credit. The
most striking is its extensive reach. It is no longer confined to only metropolitans or
cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners
of the country. This is one of the main reasons of India's growth process. The government's
regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of
14 major private banks of India.

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GROWTH OF BANKING

Journey of Indian Banking System can be segregated into three distinct phases. They are as
mentioned below:

Phase I: Early phase from 1786 to 1969 of Indian Banks

Phase II: Nationalization of Indian Banks and up to 1991 prior to Indian banking sector

Reforms

Phase III: New phase of Indian Banking System with the advent of Indian Financial &
Banking Sector Reforms after 1991.

Phase I
The General Bank of India was set up in the year 1786. Next same Bank of Hindustan and
Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay
(1840) and Bank of Madras (1843) as independent units and called it Presidency Banks.
These three banks were amalgamated in 1920 and Imperial Bank of India was established
which started as private shareholders banks, and mostly the European, Europeans-
shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913,
Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank
of Mysore were set up. Reserve Bank of India same in1935.

During the first phase the growth was very slow and banks also experienced periodic failures
between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline
the functioning and activities of commercial banks, the Government of India came up with
The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949

3
as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with
extensive powers for the supervision of banking in India as the Central Banking Authority.
During those days public has lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer.

Phase II
Government took major steps in this Indian Banking Sector Reform after independence. In
1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale
especially in rural and semi-urban areas. It formed State Bank of India to act as the principal
agent of RBI and to handle banking transactions of the Union and State Governments all over
the country. Seven banks forming subsidiary of State Bank of India was nationalized in 1960
on 19th July, 1969, major process of nationalization was carried out. It was the effort of the
then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country
were nationalized. Second phase of nationalization Indian Banking Sector Reform was
carried out in 1980 with seven more banks. This step brought 80% of the banking segment in
India under Government ownership. The following are the steps taken by the Government of
India to Regulate Banking Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalization of 14 major banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.

1980: Nationalization of seven banks with deposits over 200 crore.

4
After the nationalization of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%. Banking in the
sunshine of Government ownership gave the public implicit faith and immense confidence.

Phase-III
This phase has introduced many more products and facilities in the banking sector in its
reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up
by his name which worked for the liberalization of banking practices. The country is flooded
with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service
to customers. Phone banking and net banking is introduced. The entire system became more
convenient and swift. Time is given more importance than money. The financial system of
India has shown a great deal of resilience. It is sheltered from any crisis triggered by any
external macroeconomics shock as other East Asian Countries suffered. This is all due to a
flexible exchange rate regime, the foreign reserves are high, the capital account is not yet
fully convertible, and banks and their customers have limited foreign exchange exposure

The Structure of Indian Banking Sector

5
The Indian banking industry has Reserve Bank of India as its Regulatory Authority. This is a
mix of the Public sector, Private sector, Co-operative banks and foreign banks. The private
sector banks are again split into old banks and new banks.

6
 INTRODUCTION OF YES BANK

Yes Bank India is a new age private sector bank in India and entered the Indian market in
India and entered the Indian an market in late 2004 when the Indian banking sector was
Already crowdedwith a number of public banks.Founded by rana kapoor with a goal to set up
a high quality customer centric service driven private sector Indian bank that would cater to
the Future industries of India. It is also the only bank that has been awarded Greenfield
license by the reserve of India in the past 14 years. Yes bank limited follows International
best practices premier standards of services quality and operational excellence and use
highest technogies to provide comprehensive banking and financial solutions. YES BANK is
a full services commercial Bank, and has steadily built a corporate ,Retail and SME
Banking franchise, financial markets investment Banking, business and transaction Banking,
and wealth management business lines across the country.

YES BANK performance in the Q3FY15 financial results. Net

profit grew by 30.0% y-o-y to Rs. 540.3 cr. in Q3FY15, Net interest income up 36.6% to
Rs.909.0 cr. Not interest income of Rs. 536.8 cr., Net interest margin expanded to 3.2%,
Advances up 32.4% to Rs.66,606.9 cr. Deposits up 21.0% to Rs. 82,370.0 cr. As of 31 Dec
2014.In FY2015 , the bank has so far raised US$500 Main equity through QIP and long term
funding of US$422 Main through Dual currency Syndicated Facility and US$200 Main form
Asian Development bank aggregating to approximately US$1.2 Bn. CASA Ratio improves
steadily to 22.6% from 20.9% a year ago. SA deposits grew by 42.8% y-o-y.

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 HISTORY OF THE CONCERN
ABOUT YES BANK-YES BANK, INDIA

ABOUT BANK
YES BANK, Indias new age private sector bank, is an outcome of the professional
commitment of its founder, rana kapoor and his highly competent top management team, to
establish a high quality, customer centric, service driven, private Indian bank catering to
Emerging India. YES BANK is the only Greenfield license awarded by the RBI in the last
12 years, associated with the finest pedigree investors. YES BANK has adopted international
best practices, the highest standards of services quality and operational excellence, and offers
comprehensive banking and financial solutions to all its valued customers. A key strength and
differentiating feature of YES BANK is its knowledge driven approach to banking and
unprecedented customer experience for its retail banking and wealth management clients.
YES BANK is built on a foundation of trust, strengthened by knowledge, backed by cutting-
edge technology, governed by transparency and committed to responsible banking. The result
is an unstinted commitment to growing customers wealth.

It is this commitment that has earned the distinction of being ranked Indias No.3 Bank in a
recent survey of listed banks in India, by Business world. The same survey also ranked YES
BANK No.1 in safety, Efficiency & Growth. YES BANK was recently ranked No.2 amongst
New private sector banks, in the financial express survey of Indias best Banks for 2006,
while being ranked No.1 in growth. Today, YES BANK is present across all major cities in
India and offers a comprehensive range of banking products and financial services which
include corporate and institutional banking financial markets, investment banking business
and transactional banking retail and private banking business lines across the country. The
Banks constant endeavor is to provide a delightful banking experience expressed with
simplicity, empathy and totality.

8
 Financial Trust

The vast banking experience of founder, Rana Kapoor , has been strengthened by the
financial support of rabobank Netherlands, the worlds only AAA rated private Bank, and
respected global institutional investors like Swiss Re, khazanah national, Fidelity, HSBC,
TIAA-CRFF, arising amongst others including private equity investors AIF Capital and to
provide YES BANK a strong foundation of enduring financial trust.

Human Capital

At YES BANK, they look to offer comprehensive banking and financial solutions. Which is
why, they have inducted top quality Human Capital across all our banking functions,
Including Corporate & Institutional Banking, Financial Markets, Investment Banking,
Business & Transactional Banking and Retail Banking & Wealth Management.

Knowledge Banking

Banks differentiated view of banking as a knowledge-based industry has ensured that banks
Bankers are also industry experts in sectors like food & agribusiness, life Sciences,
Telecommunication, Media & Technology, and Infrastructure, Retailing & Textiles and select
Engineering. These Knowledge Bankers offer invaluable and in-depth insights into these
sectors, thereby helping clients to develop great ideas and nurture them to fruition.

Technology Edge

Technology is another key differentiator at YES BANK. Banks alliances with best-of-breed
technology partners ensure proactive, on-demand support to meet growth requirements, as
well as the continuous development of its systems infrastructure and delivery channels.

Corporate Governance

Foundations of bank have been inscribed with stringent corporate governance measures,
whereby transparency, disclosure norms and accountability have paramount importance, in
order to safeguard the trust and wealth of each and every stakeholder and customers.

9
 Responsible Banking

Commitment of bank extends further, from its customers, investors, stakeholders and
employees to society at large. By focusing on sustainability and corporate social
responsibility, they aspire to be a role model institution in Responsible Banking.

10
 DEPOSIT ACCOUNTS

Traditionally banks in India have four types deposits accounts, namely Current Accounts,
Saving Banking Accounts, Recurring deposit and Fixed Deposits. However, in recent years,
due to ever increasing competition, some banks have introduced new products, which
combine the features of above two or more types of deposit accounts. These are known by
different names in different banks, e.g. 2-in-1 deposits, Smart Deposits, Power Saving
Deposits, and Automatic Sweep Deposits etc. However, these have not been very popular
among the public.

TYPES OF DEPOSITS IN YES BANK

The following in types of deposits in YES BANK

A. Saving account Deposits B. Current Account Deposits

C. Fixed Deposits Account D. Recurring Account Deposits

Saving Account

YES BANK offers a range of Savings Accounts for individuals to meet their banking needs.
Accounts are specially designed for senior citizens, minors, defence personnel and women
and some accounts also have premium features and benefits while others are basic accounts
with simple features. Let us take a look at the different types of Savings Account offered by
the bank and the features and benefits of each account.Savings plan is of great importance in
everyones life, irrespective of the individuals financial condition. YES BANK savings
accounts offer solution to both saving and banking requirements. YES BANK, being one of

11
the leading banks in India, provides financial services and expert advice to all its customers
and provides them with unlimited access to the ATMs of any bank across India.

Types of Saving Account

Smart Salary Account

A salary savings is account designed to benefit both the employer and the

employee. The features and benefits of the account are as follows:

The account promises great benefits to the employer which includes

automating the salary processing cycle through various flexible

models, faster reconciliation, a dedicated corporate help-desk for

resolving queries and end-to-end integration with HR, ERP and payroll

accounting systems at no cost.

The account promises a 6% rate of interest if the balance in the

account is Rs.3 lakhs and above.

Ease of banking through vast network of branches and ATMs

Free RTGS/NEFT payments through Net banking, unlimited issuance

of Demand Drafts, payable-at-par multi-city cheque book, investment

advisory services and supplementary Debit-cum-ATM card for the joint

accountholder.

Facility of paying Utility Bills online through Bill payment facility

12
 Free Personal Accident Death cover, Lost Card Liability cover and

Purchase Protection on the Debit Card

Facility of Money Monitor to track financial information, mobile

banking facility, SMS alert feature and Phone Banking facility.

Smart Saver Account

An account of combination the features of a Savings Account and a Fixed Deposit account in

one account. T*he features and benefits of the account are as follows:

A zero balance savings account which is offered free without having to maintain any

minimum balance till the Yes Smart Saver facility is activated

The account provides high returns of a Fixed Deposit scheme and the liquidity of a

Savings Account

The accountholder can withdraw 90% of the Fixed Deposit amount through the

facility of overdraft. Interest is payable only on then overdrawn amount while 100% of

the deposit continues to earn a higher rate of interest.

24*7 access to the account through the facility of YES TOUCH service

Free unlimited domestic transactions at other banks ATMs

Platinum International Chip Debit Card with international acceptance and higher

limits on cash withdrawal and POS transactions

A personalized cheque book

Facility of paying Utility Bills online through Bill payment facility

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Yes Respect

An account for senior citizens with the following features and benefits:

The account promises a 6% rate of interest if the balance in the account is Rs.3 lakes

and above.

0.50% extra rate of interest on term deposits

40% discount on lockers

The Annual Maintenance Charges on the Demat Account is waived for one year

A dedicated Relationship Manager to provide advisory services and meet the banking

needs of the customer

Discounts at health stores, chemists, hospitals, retail outlets, hotels, etc.

Free Silver Debit card with higher limits on cash withdrawals and POS transactions

SMS and email alerts for banking transactions and Phone Banking facility

Discounts on medical consultation and diagnostic packages at Metropolis India

Diagnostic Centres

Free Personal Accident cover of Rs.1lakh on the Debit Card

Yes Vijay

14
A savings account designed for the defence forces of India with the following features and

benefits:

A zero balance salary savings account with a facility of maintaining a lifetime zero

balance account without the requirement of a minimum balance

The account promises a 6% rate of interest if the balance in the account is Rs.3 lakes

and above.

Ease of banking through vast network of branches and ATMs

Unlimited issuance of Demand Drafts free of cost

Higher returns on Fixed Deposits with auto sweep-in facility linking the deposits to

the savings account

Continued account benefit post retirement

Access to exclusive Yes First business lounges at flagship branches and Yes Assist

Concierge service for all the non-banking transactions

Free Debit-cum-ATM card with unlimited access to the banks or other banks ATMs,

free additional Debit Card for accountholders, supplementary Shopping cum- ATM

card for joint accountholders, Gold Debit Card for Officers rank and above and Silver

Debit Card for Personnel below Officer Rank.

Free Personal Accident Insurance cover of Rs.5 lakhs for all personnel

Free Demat Account opening and lifetime discount on AMC of Demat Account @

50%

A zero balance Non Residential account for personnel assigned to International

Assignments with attractive pricing on remittance rates

A dedicated Relationship Manager for banking assistance

15
 Ease of investment in Mutual Funds with online funding of Brokerage Account

Facility of Money Monitor to track financial information, mobile banking facility,

SMS alert feature and Phone Banking facility.

Yes Grace

A savings account for women with the following features and benefits:

The account promises a 6% rate of interest if the balance in the account is Rs.3 lakhs

and above.

The interest on the account is paid out quarterly

A zero balance My First Yes Account for the child

The Average Quarterly Balance requirement is completely waived if a Fixed Deposit

or a Recurring Deposit account is maintained

Optional sweep facility to maximize earnings

Investment Advisory services via email

0.5% cash back on Debit Card purchases, 25% discount on locker fees, first year

waiver of AMC on Demat Account and attractive deals and gifts through Yes Privileges

Free Mobile phone alerts for all banking transactions

Doorstep banking facility

Silver Debit Card with added Lost Card Liability and Purchase Protection coverage

Facility of Money Monitor to track financial information, mobile banking facility,

SMS alert feature and Phone Banking facility.

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 Discounts on medical consultation and diagnostic packages at Metropolis India

Diagnostic Centres and Health Insurance from Bajaj Allianz

My First Yes Account

A Savings Account for children to teach them the aspects of Banking. The features and

benefits of the account are as follows:

The account promises a 6% rate of interest if the balance in the account is Rs.3 lakes

and above.

The Average Quarterly Balance requirement is Rs.2500 only

The AQB is waived if a Fixed Deposit is also maintained with the bank

The parents can determine the cash withdrawal limit on debit cards for the child and

customize them as per requirement at Rs.1000 or Rs.2000 or Rs.5000 per day for

children aged 10 years and above

Automatic transfer of money from the parents account to the childs account through

Yes Pocket Money

Free personalized Under Guardian cheque book

A free Personal Accident Death Insurance cover of Rs.1 lakh

The interest on the account is paid out quarterly

Ease of banking through vast network of branches and ATMs

Yes Honour
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A salary savings account for the Government employees with the following features and

benefits:

Employees of Central Government, State Government and Public Sector units can

avail of the account which is a zero balance savings account

The account promises a 6% rate of interest if the balance in the account is Rs.3 lakhs

and above.

Free Debit Card with unlimited access to ATMs and POS outlets and enhanced cash

withdrawal limit

Ease of banking through vast network of branches and ATMs

Free RTGS/NEFT payments through Netbanking, unlimited issuance of Demand

Drafts and supplementary Debit-cum-ATM card for the joint accountholder.

Facility of paying Utility Bills online through Bill payment facility

Free Personal Accident Death cover, Lost Card Liability cover and Purchase

Protection on the Debit Card

Preferential rates on loans

Facility of Money Monitor to track financial information, mobile banking facility,

SMS alert feature and Phone Banking facility.

Attractive financial solutions including insurance solutions, Yes Gift Card, Yes Tax

Solutions, Yes Bank Multi Currency Travel Card and Yes Bank Pay Now services.

3 In 1 account
An account offering complete investment solutions through a savings account, Demat

account and securities investment account. The features are as follows:

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 A Savings Account, Demat Account and a Yes Securities investment account can be

opened at one instance

All the three accounts provide instant and easy access

Availability of ready investment packs based on the risk profile and objectives

A wide range of investment products which include equities and derivatives, mutual

funds, currency futures, Bonds, NCDs and IPOs

Ease of access through computer, tablet and mobile phone

Advantages of Saving Deposits Accounts

1. Give you easy access to your money.

Unlike other financial products, savings accounts keep your money liquid and allow you to

withdraw it whenever you want. So, if you run into an unexpected bill, you can use the cash

youve set aside to pay it promptly and avoid sky-high late fees. Similarly, if you fall

unexpectedly ill and need to be hospitalized, or if your car breaks down and needs costly

repairs, you can use your savings to tackle these emergencies and bring your life back to

normal ASAP.

2. Keep your money safe.

When they have extra cash, many people opt to carry it around in their wallet, place it in a

piggy bank or stash it under their mattress. Unfortunately, all of these strategies put their

money at risk. Those who carry their cash around can lose it if their wallet gets stolen. Those

who keep their money at home (either in a piggy bank or under their bed) can find themselves

without any savings if their house gets burglarized or becomes damaged in a fire. So, if you

want to protect your hard-earned cash, dont use the strategies mentioned above. Instead,

19
deposit it in your bank or credit union. This way, youre sure that your money is insured by

the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Share

Insurance Fund (NCUSIF).

3. Dont require a huge initial investment.

Got only $10 to spare? No problem! One of the best things about savings account is that they

need only a minimal initial investment, with some banks requiring you to have $25 to open

your account and others asking you to deposit as little as $1. This is great if youve just

started working and want to develop good financial habits but dont really have hundreds of

dollars to invest in stocks or bonds.

4. Lets you link with your checking account.

Many savings accounts nowadays can be connected with checking accounts, which is great

since this feature is incredibly helpful to a lot of people (including you!). In fact, according to

a survey done by November in 2014, 61 percent of the respondents said that they use their

savings account to transfer money to their checking account when their balance is running

low. This way, they can cover shortfalls and avoid incurring overdraft charges and other fees.

5. Allows you to automate bill payments.

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Sure, you can set up your debit card or credit card to automatically pay your bills every

month. But what if you dont yet have either of these cards or if you want to avoid using

credit? Well, you can automate bill payments through your savings account! This way, you

wont have to worry about missing due dates and incurring late fees, and you have the

assurance that youre paying your bills with money you already have (instead of money

youre borrowing from your debit or credit card provider).

Types of YES BANK Saving Account

1. Saving Exclusive
2. Saving Advantage
3. Saving Value
4. Saving Select

YES BANK Saving Account Charges

Saving Exclusive

Average Quarterly Balance (AQB) Rs. 100000

FD requirement for NIL (AQB) Rs. 500000
RTGS Payment (Branch and Net FREE

Banking)
NEFT Payment (Branch and Net FREE

Banking)
Foreign outward Remittance Rs. 500 inclusive of SWIFT charges
Demand Draft Payable at YES BANK 20 Free per month Rs. 50 per instrument

branch thereafter
NEFT Collection FREE
RTGS Collection FREE
Annual fee for debit cum ATM card Rs. 249
PIN regeneration Rs. 50 per instance

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Saving Advantage

Average Quarterly Balance (AQB) Rs. 10000

FD requirement for NIL (AQB) Rs. 50000
RTGS Payment (Branch and Net FREE

Banking)
NEFT Payment (Branch and Net FREE

Banking)
Foreign outward Remittance Rs. 200 plus of SWIFT charges
Demand Draft Payable at YES BANK 10 Free per month Rs. 50 per instrument

branch thereafter
NEFT Collection FREE
RTGS Collection FREE
Annual fee for debit cum ATM card Rs. 149
PIN regeneration Rs. 50 per instance

Saving value

Average Quarterly Balance (AQB) Rs. 5000

FD requirement for NIL (AQB) Rs. 50000
RTGS Payment (Branch and Net FREE

Banking)
NEFT Payment (Branch and Net FREE

Banking)
Foreign outward Remittance Rs. 200 plus SWIFT charges
Demand Draft Payable at YES BANK 4 Free per month Rs. 50 per instrument

branch thereafter
NEFT Collection FREE
RTGS Collection FREE
Annual fee for debit cum ATM card Rs. 149
PIN regeneration Rs. 50 per instance

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Saving Select

Average Quarterly Balance (AQB) Rs. 25,000

FD requirement for NIL (AQB) Rs. 2,50,000
RTGS Payment (Branch and Net FREE

Banking)
NEFT Payment (Branch and Net FREE

Banking)
Foreign outward Remittance Rs. 200 plus of SWIFT charges
Demand Draft Payable at YES BANK 10 Free per month Rs. 50 per instrument

branch thereafter
NEFT Collection FREE
RTGS Collection FREE
Annual fee for debit cum ATM card Rs. 149
PIN regeneration Rs. 50 per instance

CURRENT ACCOUNT

Current bank account is opened by businessmen who have a higher number of regular
transactions with the bank. It includes deposits, withdrawals, and contra transactions. It is
also known as Demand Deposit Account.

Current account can be opened in co-operative bank and commercial bank. In current
account, amount can be deposited and withdrawn at any time without giving any notice. It is
also suitable for making payments to creditors by using cheques. Cheques received from
customers can be deposited in this account for collection.In India, current account can be
opened by depositing Rs.5000 (approx. US $ 100) to Rs. 25,000 (approx. US $ 500). The
customers are allowed to withdraw the amount with cheques, and they usually do not get any
interest. Generally, current account holders do not get any interest on their balance lying in

23
current account with the bank.Current account holder get one important advantage of
overdraft facility.

Features of Current Bank Account

The main features of current account are as follows:-

Current bank accounts are operated to run a business.

It is a non-interest bearing bank account.
It needs a higher minimum balance to be maintained as compared to the savings
account.
Penalty is charged if minimum balance is not maintained in the current account.
It charges interest on the short-term funds borrowed from the bank.
It is of a continuing nature as there is no fixed period to hold a current account.
It does not promote saving habits with its account holders.
Banker requires KYC (Know your Customers) norms to be completed before opening
a current account.
The main objective of current bank account is to enable the businessmen to conduct
their business transactions smoothly.
There is no restriction on the number and amount of deposits.
There is also no restriction on the number and amount of withdrawals made, as long
as the current account holder has funds in his bank account.
Generally, bank does not pay any interest on current account. Nowadays, some banks
do pay interest on current accounts.

Advantage of Current Bank Account

The advantages of current account are as follows:-
Current account is mainly opened for businessmen such as proprietors, partnership
firms, public and private companies, trust, association of persons, etc. that has a large
number of daily banking transactions, i.e. receipts and/or payments.
It enables businessmen to carry out their business transactions properly and promptly.
The businessmen can withdraw from their current accounts without any limit, subject
to banking cash transaction tax, if any levied by the government.
Home branch is that location where one opens his bank account. There are no
restrictions on deposits made in the current account opened in a home branch of a
bank. However, the current account holder can deposit the cash from any other branch
of a bank other than the home branch by paying a nominal charge as applicable.

24
 It helps businessmen to make a direct payment to their creditors by issuing cheques,
demand-drafts or pay-orders, etc.
It enables a bank to collect money on behalf of its customers and credits the same in
their customers' current accounts.
It enables the current account holder to obtain overdraft (short-term borrowing)
facility.
The creditors of the account holder can get credit-worthiness information of the
account holder through inter-bank connection.
It facilitates the industrial progress of the country. Without its help, businessmen
would face difficulties in running their businesses.
It has the facilities of Internet-banking and mobile-banking to carry out important
business transactions with ease and quickly.
It also provides various other advantages (benefits) such as:
Deposit and withdrawal of money (cash) at any location.
Multi-location funds transfer,
Electronic funds transfer,
Periodical (monthly, quarterly or yearly) e-mail or download of bank statements in

FIXED DEPOSIT

Yes Bank provides for Fixed Deposit schemes to its customers who can deposit excess money

with the bank to earn attractive rates of interest and flexibility in maintaining the account

through easy withdrawals of cash as and when required without breaking the deposit. The

bank offers a range of fixed deposit schemes which are highlighted in detail below with their

respective features and benefits.

Types of Fixed Deposit Schemes Offered By YES BANK

YES BANK Fixed Deposit

25
A deposit scheme with the following features and benefits:-

The deposit can be taken for a minimum period of 7 days and for a maximum period
of 10 years. Thus the bank offers its customers a huge range of tenure to choose from
with tenures as low as 7 days to as high as 10 years
The rates of interest offered by the YES BANK are attractive and competitive to lure
the customers to the banks deposit scheme
Senior citizens are allowed an additional rate of interest which is 0.50% higher than
that offered to the general public
The principal and the interest can be reinvested again to earn compounded interest
which promises a high return
The customer can make premature withdrawals from his deposit account and there
will be no charges for the same
In case of withdrawal, the customer can withdraw his deposits with as low as Re.1 per
unit
The deposit provides for sweep-in facility enabling withdrawal of funds from the
account easily
Overdrafts can be availed against the deposit amount at attractive rates of interest thus
giving the customer liquidity of funds
The scheme provides for auto renewal facility wherein the funds are automatically
reinvested in the scheme at the original terms and conditions if there is no instruction
to do the contrary on maturity
The interest on deposits is either paid off to the customer or reinvested with the
principal to earn higher interest. Interest is calculated on a quarterly compounded
basis but for deposits with tenures 6 months and below, interest will be calculated on a
Simple Interest basis

TDS will be applicable on the earned interest if it exceeds a specified limit. PAN Card is
mandatory to be submitted for the purpose of TDS.

Fixed Deposit Rates

For Domestic Deposits- Less than Rs. 1 cr.
Maturity Period Deposit Amount Interest Rates (% p.a.)
General Senior Citizen
7 days to 45 days Less than Rs. 1cr 5.50 6.00
46 days to 90 days Less than Rs. 1cr 6.75 7.25
3 Months to less than 6 Less than Rs. 1cr 7.25 7.75

26
 Months
6 Months to Less than 9 Less than Rs. 1cr 7.25 7.75
Months
9 Months to Less than 1 Less than Rs. 1cr 7.25 7.75
year
1 year to 10 year Less than Rs. 1cr 7.50 8.00
12 Months 12 Days to 12 Less than Rs. 1cr 7.75 8.25
Moths 20 Days
18 Months 8 Days to 18 Less than Rs. 1cr 7.75 8.25
Months 18 Days
24 Months 12 Days to 24 Less than Rs. 1cr 7.75 8.25
Months 24 Days

Tax Saver Fixed Deposits(Amount Capital at Rs. 1 lakes per Financial Year)
Maturity Period Deposit Amount Interest Rate (% p.a.)
General Senior Citizen
Tax saver Deposits-5 years UPTO Rs. 1lakhs 7.75 8.25

Tax Implications:
The amount invested in fixed deposits with a maturity period of 5 years in a Scheduled bank
is eligible for tax deduction under section 80C. However, the interest earned on the deposit is
taxable.

Tax will be deducted at the source, if the interest income on a fixed deposit per annum
exceeds Rs.10000.

a) For NRO Fixed Deposit Less than Rs. 1cr

Maturity Period Deposit Amount Interest Rate (% p.a.)

7 days to 45 days Less than Rs. 1cr 5.50

46 days to 90 days Less than Rs. 1cr 6.75
3 months to less than 6 Less than Rs. 1cr 7.25
months
6 months to less than 9 Less than Rs. 1cr 7.25
months
9 months to less than 1 year Less than Rs. 1cr 7.25
1 Year to 10 years Less than Rs. 1cr 7.50
12 Months 12 Days to 12 Less than Rs. 1cr 7.75
Months 20 Days

27
18 Months 8 Days to 18 Less than Rs. 1cr 7.75
Months 18 Days
24 Months 12 Days to 24 Less than Rs. 1cr 7.75
Months 24 Days

b) For NRE Fixed Deposit Less than Rs. 1cr

Maturity Period Deposit Amount Interest Rate (% p.a.)

1 Year to 10 years Less than Rs. 1cr 7.50

12 Months 12 Days to 12 Less than Rs. 1cr 7.75
Months 20 Days
18 Months 8 Days to 18 Less than Rs. 1cr 7.75
Months 18 Days

Rate of Interest

Tenure Interest Rate Senior citizen rate

6 Months 7.25% 7.75%

9 Months 7.25% 7.75%

12 Months 7.50% 8.00%

15 Months 7.50% 8.00%

18 Months 7.50% 8.00%

21 Months 7.50% 8.00%

24 Months 7.50% 8.00%

Above 2 years UPTO 10 Years 7.50% 8.00%

28
 Recurring Deposit Account

A recurring deposit is a type of term deposit that several banks and financial institutions in
the country offer. This investment tool helps an individual with regular income deposit a
specific amount into his/her recurring deposit account, as a saving and earns interest. It also
offers flexibility to save a fixed amount of money every month. The amount to be deposited
may vary from a few thousands to lakhs, depending on the investors preference. This amount
should be deposited with a bank or financial institution for a specific time period, to earn
higher rates of interest. Though rates may differ throughout banks, and change as per RBI
regulations, once an RD account is created, the interest rate doesnt change throughout the
deposit tenure.
The main motive of the recurring deposit account is to instill the habit of saving among
individuals. A minimum of Rs 10 can be deposited at regular intervals for a maximum of 10
years. A major benefit of recurring deposit is the lump sum received at maturity. The rate of
interest is also higher as compared to other saving instruments offered by financial
institutions. Though withdrawals are not allowed, a recurring deposit account can be closed
before the maturity period and the entire amount be withdrawn.
The Recurring Deposit schemes offered by YES BANK have been especially designed to
help you save and be prepared for unforeseen circumstances in the future. A Recurring
Deposit enables the depositor to deposit a fixed amount every month (in his/her RD account)
and enjoy interest rates similar to Fixed Deposits. To encourage the habit of regular savings
in its customers, YES BANK offers two kinds of Recurring Deposits, tailor-made to suit the
varied need of every individual.
YES BANK customers enjoy highly flexible RD options at competitive rates of interest for
investing a much smaller amount, every month. They are also entitled to additional benefits
like TDS free interest, practical minimum tenure and no upper cap on monthly installments.

Types of Recurring Deposits offered by YES BANK

29
YES BANK offers two types of Recurring Deposit schemes. They are

Regular Recurring Deposit

NRE Recurring Deposit

With a Regular Recurring Deposit you choose a fixed amount (minimum amount being
specified by the bank) to be invested every month, for a definite period. Once the pre-defined
period is over, the bank pays you back the lump sum including the principal and the interest.
This is ideal for small time investors who have a steady income.
With NRE Recurring Deposit, you get to enjoy the interest rates as high as that of NRE Fixed
Deposits, by investing a much smaller amount every month.

Features and Benefits of YES BANK Recurring Deposits

Regular Recurring Deposit
The minimum monthly installment amount is Rs. 1000 and thereafter, in multiples of 100.
There is no upper cap on the maximum monthly installment amount.
The tenure ranges from a minimum of 6 months (and in multiples of 3 months thereafter) to a
maximum of 10 years.
The interest earned on your RD is free of TDS (Tax Deductible at Source) deductions, as per
the current income tax rules.
Interest rates are similar to that of Fixed Deposit rates.

You can pay the monthly installments (for RD) easily by providing a one-time standing
instruction from your YES BANK Savings Account.

NRE Recurring Deposit

Interest rates offered are similar to that of NRE Fixed Deposits

The minimum deposit tenure is 12 months (and in multiples of 3 thereafter) and maximum is
10 years.
The minimum monthly installment amount is Rs. 1000 and thereafter, in multiples of 100

30
If the NRE Recurring Deposit is withdrawn prematurely, before the minimum tenure of 12
months, then interest is not payable on the same
The interest rates on NRE RD are subject to change with time (contact the bank for more
details)
The interest earned on your NRE RD is free of TDS (Tax Deductible at Source) deductions,
as per the current income tax rules

Goal based investment Regular Recurring Deposit

YES BANK allows its customers to achieve their goals when it comes to saving through RD.
This feature comes in handy when you have a target of saving a particular amount for a
specific purpose. This could be anything from travelling abroad to purchasing a gift for your
spouse, or meeting personal expenses. YES BANK assists you in achieving your saving
target by making you follow a few simple steps mentioned below.
To achieve your financial goal, calculate the monthly installment amount based on factors
like target Amount, deposit term/period, inflation and current interest rates.
Invest in installments, according to your comfort, instead of depositing a lump sum at one go.
Keep a regular track to see how much closer you are to the financial target.
A YES BANK Savings account holder can log onto his/her Net Banking account to calculate
the exact amount needed to achieve the goal.

Interest offered on YES BANKs Recurring Deposits

To maximize the returns on investments made by its customers, YES BANK offers RD
schemes at competitive rates of interest.
The interest rates on YES BANKs Regular RD account varies from a minimum of 8.50% a
maximum of 8.85%, depending on the period of investment. These rates are subject to change
at the sole discretion of the bank. To attain more clarity on the same, you can visit the nearest
YES BANK branch or refer to the banks official website. Senior citizens with a Regular RD
account are eligible for an additional interest rate of 0.50%, over the existing interest rates.
YES BANKs NRE RD schemes interest rate ranges from a minimum of 8.75% to a
maximum of 8.85%, depending on the period of investment. If the NRE RD is closed
prematurely (before completing the minimum tenure) then no interest is payable on the same.

31
How to open a Recurring Deposit account with YES BANK

To open a Recurring Deposit account with YES BANK, you need to visit the nearest branch.
The bank will offer assistance and guide you through the entire process. For customers who
already have a Savings Account with YES BANK, can open a Recurring Deposit or Goal
based savings by just logging on to their Net Banking account. This is applicable only if the
maximum monthly installment amount is Rs.14, 99,900.

Features of Recurring Deposit Account

RD offers you a fixed interest on the invested amount at a specific frequency till the
pre-determined term or up on maturity. At the end of the term, the amount upon
maturity (which is your invested capital) along with remaining or accumulated
interest is paid.

The main features of Recurring Deposit account are as follows:-

Recurring Deposit schemes aim to inculcate a regular habit of saving among the
public.

Minimum amount that can be deposited varies from bank to bank. It can be an amount
as small as Rs.10.

The minimum period of deposit starts at six months and the maximum period of
deposit are ten years.

The rate of interest is equal to that offered for a Fixed Deposit and is hence higher
than any other Savings scheme.

Premature and midterm withdrawals are not allowed. However, the bank may allow
closing the account before the maturity period, sometimes with a penalty for
premature withdrawal.

32
 RD offers the additional benefit of taking loan against the deposit, i.e., by using the
deposit as collateral. About 80 to 90% of the deposit value can be given as loan to the
account holder.

The Recurring Deposit can be funded periodically through Standing Instructions

which the instructions are given by the customer to the bank to credit the Recurring
Deposit account every month from his/her Savings or Current account.

Duration of Recurring Deposit

Customers can open a Recurring Deposit account with a bank, where the compounding of
interest will be done on quarterly basis. The deposit term starts with a minimum period of 6
months, and after that they can choose to increase the tenure in multiples of 3 months up to a
maximum period of 10 years. The minimum period for a RD varies from bank to bank. Some
banks specify 24 months as minimum duration.

Eligibility for Recurring Deposit

Most Indian banks offer resident Indians and HUF (Hindu Undivided Families), the
opportunity to open a RD with them. Some banks even have RD schemes for children
and in this scenario minors are also eligible to apply with guardians to supervise their
finances.

Compound Interest and Impact of compounding frequency

Most banks that offer Recurring Deposit usually compound interest on a quarterly
basis. Compound interest is interest that is added to the principal amount so that from
then on, the interest that has been added also earns interest. This addition of interest to
the principal is called compounding.
The following formula gives you the total amount one will get if compounding is
done:
Maturity Value of the Recurring Deposits - based on Quarterly Compounding)

33
Renewals and Withdrawals of Recurring Deposits

During premature closure of a Recurring Deposit for reinvestment in a term deposit,

interest will be paid to the account holder without reducing interest rate by 1% as
penalty. This happens only if the deposit after reinvestment remains with the bank for
a period longer than the remaining period of the original deposit. However, if the
account holder withdraws the deposited amount before its maturity, the rate of interest
that he/she will receive shall be the one applicable to the period for which the deposit
has remained with the bank, with a one per cent penalty for premature withdrawal. If
after reinvestment the deposit is withdrawn before the maturity period, the penalty of
one per cent will be levied from the date of original contract up to the date of
premature withdrawal after reinvestment. If the premature withdrawal is made after
the due date of maturity of the deposit, then the penalty is levied from the date of
reinvestment to the date of premature withdrawal after reinvestment. Terms and
conditions about renewal and withdrawal of Recurring Deposits vary from bank to
bank.

Premature withdrawal of Recurring Deposit

If the account holder withdraws the deposited amount before its maturity, the rate of
interest that he/she will receive shall be the one applicable to the period for which the
deposit has remained with the bank, with a one per cent penalty for premature
withdrawal. In RD premature withdrawal is possible however the interest rate offered
would be less as compared to the normal base rate which is approximately 8.40% per
annum (interest rates vary according to bank stipulations). However some banks
would deduct interest rate by 1% to 2% for the period during which the deposit
remained in the bank. Usually, the minimum lock-in period for a RD account is 3
months and if a premature withdrawal is made before this period, the account holder
would earn zero interest and only the principal amount that was deposited would be
refunded to him/her by the bank. In addition to penalty on interest, incentives offered
on the RD are also cancelled.

Partial withdrawal of Recurring Deposit

34
 Partial withdrawal of RD is not allowed by banks. While most banks do not allow
partial withdrawal, other banks offer an alternative in the form of Loan or Overdraft
facility which is made available by pledging the balance in RD account as collateral.
Also, premature withdrawal is allowed at 1% penalty, for the period during which the
deposit has remained with the Bank. Premature closure is allowed but with some
penalty. While no bank allows you to make partial withdrawals, you can do so if you
have a Recurring Deposit with a post office for at least a year. In fact, the withdrawn
amount is considered a loan, which you can repay as a lump sum.
You can withdraw prematurely, but the interest paid will be lower than the base rate
for the deposit tenure or that for the tenure the deposit has been with the bank. Some
banks may subject the deposit to a penal interest (1-2 per cent). A Recurring
Deposit account has a lock-in period of one month. Premature closure in less than a
month will not earn interest. Only the principal amount will be returned.

About Nomination of Recurring Deposits

The Recurring Deposit also comes with a nomination facility. Whether held singly or
jointly, there can be only one Nominee for a deposit account. Account holders can
change the nominee of the recurring deposit account and also make other changes by
making a declaration which is effective in the appropriate form. A minor can be made
a nominee of a recurring deposit account with a proper guardian cited to supervise.

Loan against Recurring Deposit

A loan or an overdraft can be availed against the recurring deposit. An individual can
avail a loan of up to 75 to 90% of the deposit amount, depending on the banks terms
and conditions. This is a fruitful option, especially in case of emergency, as interest
keeps getting credited and the loan is available at a lower interest rate, as compared to
a personal loan.
Read on to find more about Loan Against RD

35
Income Tax on Recurring Deposit

Tax Deducted at Source (TDS) is applicable for recurring deposits on the interest
earned. The tax is paid according to the tax slab of the account holder. The TDS is
effective from June 01, 2015. For instance, if the RD is for Rs 10,000, then 10% is
deducted as TDS by the bank. Individuals whose income doesnt fall under the
taxable slab are required to submit Form 15G to avoid TDS being deducted on
their recurring deposit accounts.
Read on to know more about Income Tax on RD Rates.

Recurring Deposits for NRI/NRE

One of the best investment options for NRIs/NREs is a recurring deposit account.
Huge savings can be made using small monthly investments. NRIs can either invest in
either NRO or NRE Recurring Deposit accounts.
NRE RD Accounts: In this savings option, the investments towards deposit
installments are credited from the NRE accounts. An NRE is a non-resident external
account, where the accrued is exempted from taxes in India. This account can also be
moved back to the investors home country, without any hassle.
NRORDAccounts: For these accounts, the investments towards the deposit
installments can come either from NRE or NRO accounts. NRO are non-resident
ordinary accounts. The interest from NRO RDs is taxable at a rate of 30%, plus the
additional CESS. This is reportable, subject to certain featured requisites.
Read on to find more about NRI/NRE Recurring Deposit.

Senior Citizens Recurring Deposit

36
 A recurring deposit account enables an individual to deposit fixed amount every
month for a pre-defined period which earns interest similar to Fixed Deposits (FD).
RDs can be availed by senior citizens as well. The interest rates for senior citizens
deposits are higher than the regular account. For this, the minimum amount and tenure
are fixed by the bank. The interest on RD is compounded on quarterly basis. Most
banks offer senior citizens an additional interest rate of 0.25% to 0.75%, as compared
to regular recurring deposits.
Read on to know more about RD On Senior Citizens

Banks Providing Flexi RD

Flexi Recurring Deposit schemes are a type of Recurring Deposit that allows the
depositor to invest a flexible sum of money depending on his convenience. They
allow the depositor to choose the core investment amount as well as the flexible
installments in multiples of the core installment amount. For example, if the depositor
chooses Rs. 500 as the core amount, he can choose to make a deposit of Rs. 500 or its
multiples for his next deposit.
This scheme offers depositors a choice on how much to invest depending on their
means every month, while maintaining a stable interest rate. The interest rate payable
is fixed for the core amount while the interest on the core multiples amount would be
calculated based on the duration of the investment.
There are a number of banks that offer flexi Recurring Deposit schemes with varying
tenures and conditions.

37
Yes Bank RD Rates Below 1 cr.
Deposit Tenure Rate of Interest (%p.a.) Rate of Interest for
Senior citizen
6 Months 7.25% 7.75%

9 Months 7.25% 7.75%

12 Months 7.50% 8.00%

15Months 7.50% 8.00%

18 Months 7.50% 8.00%

21 Months 7.50% 8.00%

24 Months 7.50% 8.00%

Above 2 Years UPTO 10 7.50% 8.00%

Years

Get the Highest Interest Rates on Yes Bank Recurring Deposit

One among the popular investment schemes offered to customers by YES BANK is its
recurring deposit scheme. Regular RD scheme and NRE RD Scheme is offered by Yes Bank,
and the interest rates offered on each RD by the bank vary depending on the deposit tenure
and other conditions. The minimum tenure for which a depositor can hold an RD with Yes
Bank is 6 months and the maximum tenure is 10 years. For an investment amount below 1cr,
one can earn a return on investment ranging from minimum 7.25% to 7.75% per annum.

Yes Bank Short-Term RD Interest Rates

Yes Bank Recurring Deposit can be held for a short deposit term ranging from a minimum
tenure of 6 months to not more than 9 months at an interest rate of 7.25%. For a period from
12 months to 15 months, the interest rate offered on a recurring deposit worth less than Rs.
One Cr. is 7.75%.

Yes Bank Medium and Long Term RD Interest Rates

38
Yes Bank Recurring Deposits can also be opened for a medium term of 18 months to 21
months and for a long term of 24 months up to a maximum period of 10 years. For a deposit
worth less than Rs. 1 cr. over a period ranging from 18 months to 21 months, the interest rate
offered on general RD is 7.75%. For deposits worth less than Rs. 1 cr. over a period ranging
from 24 months to 10 years, the interest rate applicable is 7.75%.

Yes Bank Senior Citizen RD Rates

Yes Bank provides additional benefits to Senior citizens who open an RD account with the
bank by giving an extra hike of 0.50% on the prevailing interest rates. In this case, for a
recurring deposit scheme for tenure of 6 months to not more than 9 months, senior citizens
can avail 7.75% interest and for a period of they can enjoy an12 months to 15 months interest
rate of 8.25%. For a recurring deposit scheme held for a period more than 18 months to
maximum 10 years, an interest rate of 8.25% can be availed by senior citizens.

Yes Bank NRI/NRE RD Interest Rates

Yes Bank offers an NRE Recurring Deposit scheme to customers at an interest rate of 7.75%,
for installments worth up to a maximum of Rs. 14, 99,900, over a deposit term of 12 months
to 10 years.

39
 LOANS

YES BANK HOME LOANS

In today's fast paced world, everyone needs some private space at the end of the day to rest
their body and mind. Buying your own house would ensure that you escape from all the
house-hopping and also save that precious rent and security deposit. But, purchasing a
property these days has become next to impossible, thanks to the mounting real estate prices.
This is where home loans come into play you dont have to burn up all your savings and
can choose a comfortable tenure to repay.

Yes Bank Home Loan will be your friend in need when you decide to buy a property. Yes
Bank is the fifth largest private sector bank in India and has a nationwide presence with
branches across 29 states and 7 union territories. Offered in Partnership with Dewan Housing
Finance Corporation (DHFL), Yes Bank home loan services comes with a host of customer-
centric features and flexible repayment options which will make your property-purchase, a
hassle-free experience.

YES BANK Home Loan Interest Rates

YES BANK Home Loan Details

Interest Rate 10.25% to 10.75%

Processing Fees UPTO To 11500

Loan Tenure 1 Year to 25 Year

Partial Pre-Payment Charges Nil

Pre-Closure Charges Nil

Guarantor Requirement No Guarantor Requirement

40
Features of Yes Bank Housing Loans:

Yes Bank helps you realize your dream of purchasing your own house by offering the
following features with home loans.

Yes Bank home loans are offered for self-employed professionals as well as salaried
applicants.
High loan quantum ranging from Rs.5 lakhs to Rs.500 lakhs, Yes Bank offers the right
loan amount as per the customers requirements.
With flexible tenures ranging up to 25 years, borrowers can choose a tenure that they are
most comfortable with.
Yes Bank home loans can be used for purchasing a property under-construction, ready-to-
occupy properties and complete properties.
Facility for balance transfer of home loans from other banks and finance companies is
also offered.
Yes Bank also offers home loan services in partnership with Dewan Housing Finance
Corporation (DHFL) for purchase of plot, under-construction flat and also loans for
extension and renovation of property.

Benefits of Yes Bank Home Loan:

Well distributed bank network with presence in all 29 Indian states

Competitive interest rates
Home loan protection plan and facility for balance transfer
Transparent processing and quick disbursal process
Expert guidance throughout the loan application process

41
New YES Bank Home Loan Interest Rate:

YES Bank offers its customers extremely low interest rates on home loans. The bank offers
a floating interest rate of 10.25% on its home loans with zero charges and fees. This is the
lowest interest rate the bank has offered in recent years. The interest rate of 10.25% is the
lowest possible rate offered by the bank and is applicable to home loans of all tenures and is
one of the more attractive features of Yes Bank home loan products.

The effect of the interest rate can be better illustrated with the following example:

Loan Amount Interest Rate Loan Tenure EMI (Easy Monthly

Installments)
Rs. 1 lakhs 10.25% 15 Years Rs 1090
Rs. 1 lakhs 10.25% 20 Years Rs 982

New MCLR Rate for YES Bank Home Loans:

YES Bank recently set its MCLR rate for home loans at 9.60% per annum, which came
into effect on April 1st 2016. YES Bank offers the following MCLR rates for home
loans with the following tenors:

Loan Tenor MCLR Rates

42
Overnight 9.00%

1 Month 9.10%

3 Month 9.25%

6 Month 9.40%

1 Year 9.60%

YES BANK Personal Loan

YES BANK is a private bank in India with headquarters in Mumbai, a balance sheet size of
Rs. 1,500 billion, deposits of Rs. 1,250 billion, advances of Rs. 1,000 billion, a pan India
network of 900 branches and a human capital base of 12,750 by 2015. YES BANK offer
retail loans to product like Home Loan, Personal Loan, Car Loan, and Commercial Vehicle
Loan. Personal loan in YES BANK can be processed with No guarantor and minimal
documentation. YES BANKs personal loans are designed to give its customers the means to
fulfil the various financial obligations that might arise at any time. A Personal Loan from
YES BANK could translate into an ability to go on a long overdue vacation, makeover of a
house or even pay for a wedding or an educational course that could be very beneficial to a
customer's future.

Features of YES BANK Personal Loans

The loan amounts vary between Rs.1 lakh to Rs.20 lakhs.

No guarantor or collateral is required to avail the loan.
The repayment options are flexible.
Documentation only includes 2 passport size photographs, proof of identity, address, age
and signature, salary slips for the last 3 months, IT returns for the last 2 years and
statement of salary account for the preceding 6 months.
The interest rates are very competitive.
Applying for the personal loan hardly take any time.

43
 YES BANK Personal Loans Interest Rates

YES BANK PERSONAL LOANS Details

Interest Rate 14%

Processing Fees UP to 2% of the Loan amount

Pre Payment Charges Pre closure Permitted After 12 Months. 4%

of Principle outstanding(plus ST) afterwards

Tenure 1 Year to 5 Year

Guarantor No Guarantor required

YES BANK CAR LOAN

Yes Bank offers a unique car loan scheme that can be availed by customers with the
assurance of complete transparency and hassle-free processing. Car loans can be got at
attractive interest rates for any make or model of a four-wheeler. The loan amount that can be
availed by customers is quite high, with Yes Bank providing financing to up to 90% on select
car models. Customers can choose from an array of repayment options available from Yes
Bank to pay back their car loans. The minimum loan amount that can be taken is Rs 11 lakhs
and the maximum goes up to Rs 500 lakhs. Borrowers can choose any tenure ranging
between 1 year and 7 years.

Yes Bank Car Loan Interest Rates 2015

Salaried individuals, partnership firms, self-employed professionals and private limited

companies are eligible to procure a Yes Bank car loan. The interest rate offered by Yes Bank
is a fixed interest rate based in the prevailing base rate of the bank. The interest rate would be
calculated as a total of the base rate plus a certain percentage. Depending on the tenure

44
chosen and loan amount availed, Yes bank offers competitive interest rates with flexible
repayment options.

CREDIT CARDS

Yes Bank offers credit cards to its customers in partnership with American Express. The cards
are designed to provide a host of rewards and benefits like discount vouchers on dining,
entertainment, travel, etc. The cards presented by Yes Bank are of 3 types. Let us look at them
and their features and benefits in details to easily compare credit cards

Range Of Credit Cards Offered By Yes Bank

American Express Platinum Reserve Credit Card a credit card offered by

Yes Bank to the customer with rewards points and discounts. The features and the value-
added benefits in the card are as follows:

The first year fee is Rs.5000 plus applicable taxes and the fee from the second year
onwards is Rs.10, 000 plus applicable taxes.
A welcome gift of 11, 000 bonus Membership Rewards points
Cash back of up to Rs.10, 000 on Make My Trip through travel bookings, hotel
bookings, etc. enjoy Rs.300-Rs.700 cash back on domestic flights and 7-8% cash back
on international ones, 20% cash back on domestic hotel bookings and 10% on
international hotel bookings, 15% cash back on domestic and international holiday
package booking done online or 5% cash back if holiday booking is done offline and 5%
cash back on the base fare on both domestic and international flights and hotel bookings
Great privileges and offers on luxury hotel stays like complimentary 3rd nights or
4th nights stay on booking of 2 or 3 nights respectively at the Oberoi Hotels and Resorts,
complimentary Gold Tier Membership in Taj Hotels and Resorts which offers 10%
discount on all Taj Holidays, 20% discount on spa treatment at Jiva Spa, 30% discount
on the rack rate of Taj Club Rooms and Suites etc., complimentary Trident Privilege
Gold Tier Membership at Trident Hotels and a complimentary prefers Gold tier
Membership at Preferred Hotels and Resorts

45
 Complimentary lounge access at American Express Proprietary Lounges and lounges at
domestic airports and Priority Pass Membership with access to over 700 international
airport lounges across 120 countries
Privileged healthcare packages form Max Healthcare, Fortis Healthcare and Texas
Medical Concierge.
30% discount on preventive health package, 20% discount on eye and dental procedures,
20% discount on OPD consultation, investigation and diagnosis and 10% discount on
room rent and diagnostics under the Max Healthcare Package
15% special discount on OPD facilities like consultation, investigation, diagnosis, etc.,
10% discount on standard health check-up packages and 10% discount on room rent and
IPD facilities with the Fortis Healthcare package
25% discount on Jasmine Tier Membership, specialized medical opinion, assistance
through real-time consultation by phone or video and access to integrated medical
technologies like Ayurveda, Yoga, Naturopathy, Acupuncture, etc. under the Texas
Medical Concierge service
Complimentary access to golf courses at 14 premier golf courses in India with these Yes
Bank Amex Credit Cards
No Green fee at domestic courses and discounted rates on golf lesson across 18 premier
courses in India
Taj Epicure Plus Membership program offering 20% - 50% discount on food and
beverages at Taj Hotels and Resorts
Attractive dining offers around the world through American Express Selects Dining
Program at merchant restaurants
Increased Bonus reward points for shopping at EXTRA Membership Rewards Partner
outlets
Book flight tickets and pay for them through membership rewards Pay with Points
scheme
Earn Reward points on every spending which can be redeemed across attractive and
luxurious products from the collection of premium partners including Armani, Canali,
Tumi, Jimmy Choo, Ritu Kumar, Paul Smith, etc.
The reward points can also be used to pay the credit card charges

46
 A platinum concierge service providing assistance with sourcing quality products and
services, making dining reservations, flower and gift delivery, assistance with personal
arrangements, movie ticket bookings, golf bookings , etc.
Other Services which a cardholder can avail are 24*7 card related assistance under

Platinum Assist program, Zero Lost Card Liability, emergency card replacement, 4
supplementary Cards and 1 additional card which are free, zero transaction fee at HPCL
Petrol stations, global assistance, air accident insurance up to Rs.1 crore and a
Comprehensive Protection Plan Plus in partnership with I CICI Lombard to provide
insurance coverage.

Yes Bank Credit Card Eligibility Criteria

To apply for a Yes Bank credit card, the following eligibility criteria need to be met by the card applicant:

The applicant must have 18 years of age

The applicant can be a salaried individual or a self-employed individual and should have an
annual income of at least Rs.6 lakhs and above
The applicant should hold a Savings Account of an Indian Bank or a Multinational Bank in India
The applicant should have a permanent residential address in India
The credit history of the card applicant should not have any payment defaults
If the applicant is self-employed, his company should be trading in the market for a minimum of
12 months

American Express Platinum Travel Credit Card a credit card designed to

provide exclusive travel related benefits to the cardholder. The features and benefits of
Yes Bank credit cards are as follows:

The first year fee is Rs.3500 plus applicable taxes and the fee from the second year
onwards is Rs.5000 plus applicable taxes.
A welcome gift of 5000 bonus Milestone reward points which can be redeemed against
Indigo vouchers worth rs.4000
On spending Rs.1.90 lakhs in a year the customer can get various benefits like 7500
Spend Milestone Bonus Membership reward points which can be redeemed for Indigo
vouchers worth Rs.6000, 1 reward point for every rs.50 spent making the regular reward

47
 points worth Rs.3400 redeemable against Indigo vouchers worth rs.1700 and accelerated
reward points at EXTRA membership rewards program partners
On spending Rs.4 lakhs in a year, the customer can get additional benefits like 10, 000
Spend Milestone Bonus Membership reward points which can be redeemed for Indigo
vouchers worth Rs.10, 000, 1 reward point for every rs.50 spent making the regular
reward points worth Rs.3600 redeemable against Indigo vouchers worth rs.1800,
accelerated reward points at EXTRA membership rewards program partners and
vouchers worth Rs.10, 000 from the Taj Group
Exclusive benefits on travel bookings made form MakeMyTrip.com which includes
Rs.300-Rs.600 cash back on every domestic flight ticket booking either for a one-way
trip or a round-trip, 5% - 6% cash back on the base fare on international flight bookings,
cashback on domestic and international hotel bookings, holiday packages and flight and
hotel bookings
Complimentary Priority Pass Membership
20% discount on dining at premium restaurants with the American Express Selects
Dining Program
Other services include 2 free supplementary cards, Zero Lost Card Liability, pay-in-parts
privilege wherein the customer can pay EMIS for certain purchases, 24*7 platinum assist
and emergency card replacement anywhere across the world

Yes Bank Credit Card Eligibility Criteria

The applicants age should be above 18 years

The personal income of the applicant, whether salaried or self-employed should be Rs.6
lakhs at least
A savings account should be held by the applicant in India of an Indian or Multinational
banks
He should be a resident Indian with a permanent residence in India
The credit history should be good with no payment defaults
For self-employed individuals, the company should have a trading history of at least 12
months.

American Express Gold Card a premium card with exclusive lifestyle benefits.
The features and benefits of the card are as follows:

48
 The annual fee for the first year is Rs.1000 plus taxes and thereafter the annual fee every
year is Rs.4500 plus taxes.
Earn 1000 bonus reward points if the card is used at least 4 times in a month
5000 reward points when the card is renewed after the first year
Exclusive benefits on travel bookings made form MakeMyTrip.com which includes
Rs.300-Rs.600 cash back on every domestic flight ticket booking either for a one-way
trip or a round-trip, 5% - 6% cash back on the base fare on international flight bookings,
cashback on domestic and international hotel bookings, holiday packages and flight and
hotel bookings
No pre-defined credit limit so that the customer can enjoy unlimited access to funds
By using the card for the day-to-day expenses, the customer can win Rs.1000 worth of
movie tickets every month
1 reward point for every Rs.50 spent on the card which can be redeemed against the 18
carat and 24 carat Gold Collection rewards.
For 24, 000 worth of points, the customer can access the 24 carat Gold Collection and
for 18, 000 points, the 18 carat Gold Collection is available which includes a Tissot
watch, MakeMyTrip Holiday Voucher, American Express Gift card worth Rs.10, 000 and
BOSE Music Systems
The points can also be redeemed against 500+ attractive options including leading
airlines, hotels, electronics and more
20% discount on dining across select merchant restaurants
With a built-in intelligence facility, the gold card enables the customer to analyze his
spending pattern and automatically adjust the spending limit on the card
Other Gold Services which a cardholder can avail are 24*7 card related assistance,
dispute resolution, Zero Lost Card Liability, emergency card replacement and 2
supplementary Gold Cards which are free

Yes Bank Credit Card Eligibility criteria

Applicants of the American Express Gold Credit Card should meet with the following
eligibility criteria:
They should be aged 18 years and above
They should have a good credit history wherein there has been no payment defaults

49
 If they are self-employed individuals, their company should be trading for a minimum
tenure of 12 months.

Applying For a Credit Card From Yes Bank

A customer can apply for Yes Bank Credit cards by visiting the Paisabazar.com website,
completing the formalities and submitting the documents for Yes Bank credit cards. Whether
it is American Express Platinum Reserve Credit Card, American Express Platinum Credit
Card or American Express Gold Card, all cards are available on the Paisabazaar.com website
and can be applied easily.

Credit card statement The bank sends the credit card statement to the customer
every billing cycle which contains the list of transactions carried out per cycle and the
amount required to be paid to the bank to settle the debt of the credit card from Yes Bank

Yes Bank Credit card online payment Customers can pay their credit card
bills online through net banking facility provided by the bank.

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 RESEARCH METHODOLOGY

DATA SOURCE:

Secondary Data:
In order to have a proper understanding of the YES Bank in India a depth study was done
from the various sources such as books, a lot of data is also collected from the official
websites of the banks and the articles from various search engines like Books, Magazines,
Newspapers & websites.

Primary Data:

The primary data was collected by means of a survey. Questionnaires were prepared and
customers of the banks at two branches were approached to fill up the questionnaires. The
questionnaire contains 10 questions which reflect on the type and quality of services provided
by the banks to the customers. The response of the customer and is recorded on a grade scale
of strongly disagree, disagree, uncertain, agree and strongly agree for each question. The
filled up information was later analyzed to obtain the required interpretation and the findings.

51
 DATA ANALYSIS AND INTERPRETATION

1. Occupation of account Holder?

Account Holders

Professionals 10

Self-employed 15

Salaried 17

Others 8

Occupation

18
16
14
12
10
8
6
4
2
0
Account Holders

Professionals Self-employed Salaried Others

Interpretation:
Above table shows maximum customers occupations are salaries and minimum customers
are occupations are others.

52
 2. Do You Have Any Bank Account?

Frequency Percentage

YES 49 98

NO 1 2

DO YOU HAVE ANY BANK ACCOUNT

60

50

40
Series 1
30

20

10

0
YES NO

Interpretation:-

From the Above table 98% people having an account in banks and from the above table 2%
people having not accounts in banks.

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3.Do you have account in YES BANK?

Do you have A/c in yes bank Frequency

YES 30

NO 20

A/C IN YES BANK

YES
20 NO

30

Interpretation:-

From the above table 30 people are having an account in yes bank and from the
above table 20 people are having not account in yes bank.

54
4. What type of account do you have in Bank?

Accounts Frequency

Saving a/c 40

Current a/c 5

Fixed a/c 5

Others a/c 0

TYPE OF ACCOUNNT IN BANK

5 5
FIXED
SAVING
CURRENT
OTHER

40

Interpretation

1. 5 people have fixed account in a bank.

55
2. 40 people have saving account in a bank.
3. 5 people have current account in a bank.
4. The other account doesnt have any account in a bank.

5. Which types of services you prefer the most in your bank?

Types of services Frequency

ATMs services 25

Internet banking 10

Mobile banking 10

Core banking 5

Banking services
30

25

20

15
Banking services
10

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Interpretation:-

From the above table 25 people having a use in ATMs services, than 10 people
having a use in Internet banking service, than 10 people having a use in Mobile
banking service and last one 5 people are use in Core banking service.

6. What do you feel by services provided by YES BANK?

Service provided by yes bank Frequency

Excellent 20

Very Good 15

Good 10

Poor 5

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 feel by service provided in yes bank
20
18
16
14
12 feel by service provided in
10 yes bank
8
6
4
2
0
Excellent
Very Good
Good
Poor

Interpretation:-

From the above table 20 people having are in excellent feel by services
provided by yes bank, than 15 people having are in very good feel by services
provided by yes bank, than 10 people having are in good feel by services
provided by yes bank and last only 5 people having are in poor feel by services
provided by yes bank.

7. Are you taking the loan from YES BANK?

Are you taking the loan from yes Frequency

bank

YES 40

NO 10

58
 Loan from YES BANK

10 YES
NO

40

Interpretation:-

From the above table 40 peoples are having loans from yes bank and only 10
peoples are having not for the loan form yes bank because yes bank is lower
interest rate in India.

CONCLUSION

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Conclusion of study reveals many facts about the bank. Overall conclusion is as Follows:-

YES BANK is a well-known bank.

Offers attractive schemes to consumers with competitive charges, which pull them to
avail the services
YES BANK is the best bank in others private bank because easily transaction

During the span of summer training I come to know that there is a vast growth
prospective for private sector banks to nurture and utilize their banking skills as India
is growing higher as a Worlds leading corporate. The training yields mw an
enhancive corporate knowledge while working in private banking institution like yes
bank. Although there is a stiff and tough competition in the private sector is banking
and especially cutthroat level at Retail banking section. The services offered by
various banking sections such as credit card, debit card, ATMs, Saving banks account,
Current banks account, Recurring Deposits, Fixed Deposits and so on enable me to
find out what the customer of today thinks about the services the banks are providing
and made a significant distinguish between what the performance of private sector
banks to that of the public sector banks and how prompt they are. Also, I learn how to
make out and include customers about the prospects of an organization upon which he
is going to save/her deposits for a considerable period of time.
It was great practical experience under YES BANK as it inculcates me to gain open
through of customers pertaining to the account of customers, deal with their queries
and come to the conclusion.
So I concluded that people of Indias are moving towards the private sector banks but
Yes Bank although it is a growing organization, in security, it is a first ranking
position according to business worlds, 2006 and in growth, 3rd
position, does not have great impact society like other private banks ICICI, HDFC,
UTI etc. there is a great difference between yes bank and other top most private banks
yes bank should work hard in the fields like extra facility, interest rates, quality of
services, relationship with customers and at last but not least publicity. Yes bank
should also try some extra events to attract the attention of the society.

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 BIBLIOGRAPHY
1. WWW.YES BANK .COM
2. WWW.PAISABAZAAR,COM
3. WWW.RBI.COM
4. WWW.MONEY CONTROL.COM

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 ANNEXURE- 1

QUESTIONNAIRE

Name: -

Age : - ..

1. Occupation

A. Professional B .Self-employed C. salaried D. Others

2. Do you Have Any Bank account?

A. Yes B. No
3. Do you have account in yes bank?
A. Yes B. No
4. What type of account do you have in Bank?
A. Fixed C. Current
B. Saving D. Others
5. Which type of Service you prefer the most your bank?
A. ATM C. Mobile Banking
B. Internet Banking D. Core Banking
6. What do you feel by services provided by YES BANK?
A. Excellent B. Very Good
C. Good D. Poor
7. Are you taking the loan From YES BANK?
A. Yes B. No
8. Does your bank have proper grievances handling system?
A. Yes B. No
9. What additional Services do you expect from YES BANK?
___________________________________________________________
___________________________________________________________
____________________________________________________

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10. Which Bank provide better services according to you and why?

Ans.:

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