MUMBAI: YES BANK announced the launch of the Overdraft facility (OD) against Fixed Deposits (FDs) through the Bank’s digital channels – YES Mobile and YES Robot in line with the Bank’s commitment to supporting customers during the ongoing lockdown. The customers can now avail instant OD facility on FDs from the safety and comfort of their homes in three simple steps.
Resident Individual customers with single holding savings account are eligible to avail of this facility for an FD of a minimum value of INR 50,000 and maximum value of not less than INR 1 crore for a minimum tenure of 181 days. The applicable interest rate of 2% p.a. for individual and 1% for senior citizen customers will be charged to customers while they continue to earn on their FDs for applicable rates. For the benefit of customers, there would be no EMIs, and the repayment can be done in a lump sum. Further, the Bank will not charge any processing fee and no additional documentation would be required.
Customers can avail the facility by logging on to YES Robot or YES Mobile application, click on ‘Pre-approved offers’ or ‘Exclusive Offers’ to the select eligible Fixed Deposits, confirm the amount and submit the request. On submission of the request, the overdraft limit will be sanctioned the next day.
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