Home Business Yes Bank launches overdraft facility against FDs via digital channels

Yes Bank launches overdraft facility against FDs via digital channels

by the owl speaks

Yes, the Bank announced the launch, through digital channels – Yes Mobile and Yes Robot to support customers in their ongoing lockdowns of ODs (ODs), in connection with fixed deposits (FDs).

The bank has stated that its clients are now able to access instant OD on FDs in three simple steps from home security and comfort.

The FD is available, with a minimum Rs 50,000 value and a maximum value of Rs 1 crore at a minimum tenure of 181 days, to resident individual customer with one-holders’ savings account.

Customers can offer an appropriate interest rate of 2% for individuals and 1% per annum, while continuing to benefit at their FDs at the appropriate level for senior citizens’ customers.

Any EMIs will take place and a lump sum payout can be made. In addition , the Bank will not charge any processing fees and will not require additional documentation, he said.

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