Yes Bank Minimum Balance: Charges and Requirements

Yes Bank Minimum Balance: Charges and Requirements

Yes Bank requires customers to maintain a minimum average monthly balance (AMB) in their savings accounts, and a penalty is charged if the balance falls below the required limit. The exact amount depends on your account type and the branch location.

Yes Bank Minimum Balance by Account Type

Yes Bank offers several savings account variants and each has a different minimum balance requirement. Here is a general overview:

• Yes Essence Savings Account: Average Monthly Balance of Rs. 10,000 (metro and urban branches).
• Yes Prosperity Savings Account: AMB of Rs. 25,000.
• Yes Grandeur Savings Account: Higher AMB applicable; check with your branch.
• Basic Savings Bank Deposit (BSBD) Account: Zero minimum balance required as per RBI guidelines.

Requirements for semi-urban and rural branches are typically lower. Always confirm the exact requirement for your specific account variant with Yes Bank directly, as these are subject to revision.

Penalty for Not Maintaining Minimum Balance

If your average monthly balance falls below the required limit, Yes Bank charges a non-maintenance fee. The charge is typically a percentage of the shortfall, subject to a maximum cap. For example, a shortfall in a Rs. 10,000 AMB account may attract a charge of around Rs. 100 to Rs. 500 plus GST per month, depending on the extent of the shortfall.

These charges are debited directly from your account at the end of the month.

How to Avoid Minimum Balance Charges

• Monitor your balance regularly using the YES PAY Next app or by giving a missed call to 09223920000.
• Set up alerts in the YES PAY Next app to notify you when your balance drops below a threshold.
• Consider switching to a zero-balance account if you do not consistently maintain the minimum balance.

Zero Balance Account Option

Yes Bank’s Basic Savings Bank Deposit account has no minimum balance requirement. It is available to individuals who do not have any other savings account in the same bank. Account features are limited compared to premium variants.

FAQ

What is the minimum balance for a Yes Bank savings account?

The minimum average monthly balance for Yes Bank savings accounts ranges from Rs. 10,000 to Rs. 25,000 or more depending on the account type and branch location. Zero balance accounts are available under the BSBD category.

How much does Yes Bank charge for not maintaining minimum balance?

The non-maintenance charge depends on the account type and the shortfall amount. It can range from Rs. 100 to Rs. 500 plus applicable GST per month. Check your account’s Schedule of Charges document for the exact figure.

How can I check my Yes Bank minimum balance requirement?

Log in to the YES PAY Next app or Yes Bank net banking and navigate to Account Details. Alternatively, call Yes Bank customer care at 1800 1200 or visit your branch for account-specific details.

Key Takeaways

• Yes Bank’s minimum balance requirement depends on your account type and branch location.
• Most savings accounts require an AMB of Rs. 10,000 to Rs. 25,000.
• Zero balance accounts are available under the BSBD category as per RBI guidelines.
• Non-maintenance charges can range from Rs. 100 to Rs. 500 plus GST per month.
• Use the YES PAY Next app or missed call number 09223920000 to track your balance and avoid penalties.