Yes Bank Revises Savings Account Schedule of Charges Effective 1st September

The schedule of charges for savings accounts has been revised by the private sector lender Yes Bank. According to the bank's official website, the new charges will take effect on 1 September 2022. Taxes, as determined by the bank from time to time, are not included in the charges shown in the schedules below. Following the adjustment, the bank updated its charges for a number of savings account-related transaction types.
Yes Bank Average Monthly Balance (AMB) and non-maintenance charges
On SA Pro Plus, YES Respect SA (for senior citizens), Yes Essence SA (for Women) the bank allows an AMB of Rs25,000, on Savings Account PRO the AMB required is Rs10,000, on SA Value / Kisan SA (for Farmers) the AMB required by the bank is Rs. 5,000 and on My First SA (for Minors) the AMB required is Rs2,500.
Yes Bank has said in an official release that “AMB requirement, as defined by YES BANK from time to time, at select locations, is Rs5000 for YES Grace, Rs2500 for YES Respect and Rs2500 for YES Value. For Kisan Savings A/c, Average Yearly Balance (AYB) of Rs1000 is required at all locations. For Savings value where AMB requirement is Rs2500, Maximum Charges for non-maintenance of balances is capped at Rs125 per month. For Kisan Savings A/c, Charges would be Rs100 per annum."
The bank would levy a maximum of Rs650 as an AMB non-maintenance charge for SA Pro Plus, YES Respect SA (for senior citizens), and Yes Essence SA (for Women). The bank will charge a maximum Non-Maintenance Charge of Rs500 for Savings Account PRO, Rs250 for SA Value / Kisan SA (for farmers) and Rs250 for My First SA (for minors).
Yes Bank RTGS, NEFT, IMPS Charges
For RTGS payment through branch: Rs20 for a transaction amount of Rs2 lakh to Rs5 lakh and Rs40 for a transaction amount of more than Rs5 lakh.
For NEFT payment through branch: Rs2 for a transaction amount of less than Rs10,000, Rs4 for a transaction amount of Rs10,000 to Rs1 lakh, Rs12 for a transaction amount of Rs1 lakh to Rs2 lakh and Rs20 for a transaction amount of more than Rs2 lakh.
IMPS Charges: Rs5 for a transaction amount of up to Rs1 lakh and Rs15 for a transaction amount of Rs1 lakh to 5 lakh.



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Changes in Our Business Model
25th Sept 2020
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Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
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