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YES Bank Introduces COVID 19 Insurance for Fixed Deposit Customers

YES Bank Introduces COVID 19 Insurance for Fixed Deposit Customers

Last Updated : May 16, 2020, 12:13 p.m.

In partnership with Reliance General Insurance, YES Bank has introduced a COVID 19 cover for the FD holders. Any individual who has booked an FD with YES Bank can avail of this benefit. The deposit of INR 1,00,000 or above makes you eligible for this dual benefit. A lump sum amount of INR 25,000 is available to you if you are tested +ve for COVID 19. Read this post to know the details of this newly launched insurance scheme.

Benefits of Covid-19 Insurance Scheme

The best part about this insurance scheme is that the 1-year insurance premium is going to be paid by the bank itself. And you get an insurance certificate from Reliance General Insurance for an FD booking at YES Bank. You can make use of digital banking services to open a fixed deposit account online. The digital banking service is for the existing customers and savings account holders. Others can talk with the bank relationship manager or visit the bank branch. You keep on earning interest over your deposit amount the same as the regular FD, the difference is that it gives you security and surety of protection from COVID 19.

YES Bank Fixed Deposit Interest

You can get up to 7.25% interest over the deposit amount, based on the maturity period. Look at the table to know the YES bank FD interest rates to your deposited funds.

Duration Interest ( for < INR 2 Crore)
7-45 days 5.00%
46-90 days 6.00%
3 to < 6 months 6.00%
6 to < 9 months 7%
9 to < 12 months 6.75%
1 to 10 years 7.00%
18 months 8 days - 18 months 18 days 7.25%
2 < 3 years 7.25%

Insurance Amount

The 100% sum is insured in case the account holder is tested positive for COVID 19. You can have the benefit of insurance which helps you save money with the security of health in case you get infected with the virus in the future. The scheme is applicable to fixed deposits locked for a minimum of 1 year and above from May 15, 2020 to June 20, 2020. So, book an FD and get yourself covered with YES Bank FD+COVID 19 insurance scheme.

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