Yes Bank Penalty: Yes Bank has said that the bank will charge a penalty for premature withdrawal of money from Fixed Deposit. Yes Bank has said in the information given on its website that the bank will levy penalty on the premature withdrawal of FDs of less than 181 days. According to the website, the decision to impose penalty will come into effect from May 16, 2022.
In fact, the bank did not levy penalty charges for premature withdrawal from fixed deposits of less than 181 days. But customers who have deposited money in FD after 16 May 2022 will have to pay 0.25 percent of the total withdrawal as penalty for breaking the FD before maturity. FDs with less than Rs 5 crore or FDs that have been renewed afresh will have to pay a penalty for withdrawing the amount before maturity.
Let us tell you that any person, senior citizen or employees will also have to pay a penalty for breaking the FD prematurely. Yes Bank staff who have booked or reviewed FDs between 9 May 2019 to 5 July 2019 will have to pay a prepayment penalty. But after May 10, those who have booked or renewed FD will not have to pay penalty. Senior citizens who have booked or reviewed FD between 9 May 2019 to 5 July 2019 will have to pay a prepayment penalty. But after May 16, those who book or renew FD will not have to pay penalty.
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