YES Bank hikes penalty on premature withdrawal from FDs

Private sector lender YES Bank has decided to impose a higher penalty on premature withdrawal from fixed deposits (FDs) effective from August 8. As per the details updated on YES Bank website, the penalty charge will be increased to 0.50 per cent from the existing 0.25 per cent in case the tenure of FD (completed) is less than or equal to 181 days.

The changes in penalty charge will be effective from August 8. If tenure is 182 days and above, the penalty charged will be increased to 0.75 per cent effective from August 8 from the existing 0.50 per cent.

These charges are for general customers. YES Bank does not impose any penalty on premature withdrawal from FDs by senior citizen customers. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)