The penalty for early withdrawals of fixed deposits has been increased by Yes Bank on its website.

This year's increased penalty amount will go into effect on August 8th, according to a statement posted to Yes Bank's official website.

A 0.50 per cent penalty will be added to short-term investments of less than 181 days, up from the previous 0.25 per cent penalty.

Premature withdrawal penalties at Yes Bank FD include the following:

Yes Bank will now charge a penalty of 0.75 percent on FDs with a tenure of 182 days or more, up from the previous penalty of 0.50 percent.

Premature withdrawal penalties at Yes Bank FD include the following:

This rate does not apply to senior citizens because Yes Bank does not impose a penalty on early withdrawals from an FD held by a senior citizen.

Premature withdrawal penalties at Yes Bank FD include the following:

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Prematurely withdrawing from the FD will result in the customer forfeiting any interest accrued. Deposits in the NRE do not earn interest. In addition, Yes Bank does not charge early termination fees.

A premature penalty will not be imposed on people 65 and older who open or renew a fixed deposit at a bank on or after May 16.

FDs purchased between July 5, 2019, and May 9, 2021, must be prematurely withdrawn. You won't be penalized for signing up for or renewing FDs after May 21, 2014.

There will be a penalty interest charge for both partial and full withdrawals of FDs from the Yes Bank website.