What is YES Bank Account Opening Process | YES Bank Account Opening Form |YES Bank Account Opening Minimum Balance
YES Bank Account Opening is arguably the best place to start if you want to save for the future. Yes Bank’s savings account options include all banking privileges, such as increased domestic and foreign withdrawal limits, free Demand Draft at all Yes Bank offices, account access from anywhere in the globe, cash transfers, and 24/7 online banking, among others. While most banks offer a 3.5 percent annual interest return on savings accounts, Customers can earn 6.25 percent p.a. on deposits of more than Rs.1 crore, 6 percent p.a. on deposits of more than Rs.1 lakh and up to Rs.1 crore, and 5 percent p.a. on deposits of less than Rs.1 lakh and up to Rs.1 crore at Yes Bank.
Yes Bank Savings Account Features and Benefits
- Customers with a Yes Bank Savings account have the option to create their own account number.
- This savings account offers higher interest rates on deposits in the account, allowing users to earn 70% more (interest over deposits) than most other banks around the country.
- Customers can make as many transactions as they want at any ATM in the country.
- Customers can send and receive funds for free via the NEFT and RTGS facilities.
What is YES Bank Account Opening Process
- Customers can open this savings account offered by Yes Bank online rather than going to the bank. Follow the steps outlined below if you’re interested.
- First of all, visit the homepage of the website
- On the site, click “open an account” option.
- Now, Choose “Savings account”
- Select the type of savings account you want to open.
- After that, fill out the application form’s essential information and click “submit.”
- After that, you’ll be able to generate your own account number. In the future, this number will be used for all banking processes.
- After the application has been submitted, the applicant must maintain his or her KYC documents on hand.
- A bank representative will contact you within a few hours to collect your KYC documents for verification.
Points to Keep in Mind while YES Bank Account Opening
Remember the following steps to make the Yes Bank Savings Account account opening process go as smoothly as possible.
- Check that the name and address you provided on the application form match the information in your KYC documents.
- Make sure the email address and phone number you provided are correct, as the bank will use these for future correspondence with the savings account.
- The account will not be authorised until the bank has completed the verification of your KYC documentation.
- Only new customers can use the online account opening process. Those who already have a Yes Bank account will need to visit their local location to open a new account.
- Always choose the bank branch that is the most convenient for you.
- If you have only partially completed the application form, you can finish the registration process by providing your email address, phone number, or application number and authentication code. To submit the application, click “proceed.”
Documents Required for YES Bank Account Opening
Customers must present the following documentation when applying to open a savings account with Yes Bank.
- Form for opening a bank account that has been completely filled out. In order to avoid rejection, make sure to complete out all of the fields on the application form.
- Latest passport size photographs.
- PAN card
- Form 60 (Only if PAN card is not available).
- Proof of identification – PAN Card, Driving license, Passport, Voter’s ID card, etc.
- Address Proof – Passport, Valid driving license, Voter’s ID card, etc.
- Proof of signature – valid driving license, PAN card, valid passport, National Rural Employment Guarantee Scheme (NREGA) card.
Yes, if your Aadhaar card has a photo, you may use it as proof of identification, and if it has your address on it, you can use it as proof of address.
Form 60 can be used instead.
No, the signature must match the one on your KYC documents.