Product Details
Bank Name
Yes Bank
Account Name
My First Yes
Account Type
Saving
Interest Rate
Upto 10 lakh: 3.00%, above 10 lakh but less than 25 lakh: 3.50%, above 25 lakhs but less than 50 lakhs: 4%. Above 50 Lakhs: 5%
Free Debit Card
Yes
Account Opening Fees
0
Debit Card Charges
Not specified by the bank.
Annual Maintenance Fees
0
NEFT Charges
Free online
Minimum Account Balance
Average Monthly Balance (AMB) of Rs. 2,500
IMPS Charges
Free online
Fees and Charges of
My First Yes
My First Yes
Special Features
Account specially designed for kids.
Lower Average Monthly Balance (AMB) requirement of just INR 2,500
Eligibility Criteria
Benefits
Features, Eligibility and Benefits of
My First Yes
Pros & Cons of
Pros
Free NEFT / RTGS payment facility via net banking.
Purchase Protection Insurance and Card Lost Liability.
Access to mobile and SMS banking.
Cons
Very basic bank account.
My First Yes
My First Yes Review
The account comes with low interest rate and offers minimal value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Review of
My First Yes
Account Opening and Procedure of
How to open an Account?
Visit the Yes Bank website: Go to the Yes Bank homepage and click on "Open an Account."
Select "Savings Account": Choose the "Savings Account" option from the available choices.
Fill in the application form: Provide all the required details accurately in the online application form.
Submit the form: Once you have filled in all the necessary details, submit the application form.
Generate your account number: You will be able to generate your own account number, which will be used for future banking transactions.
2. Offline:
Visit a Yes Bank branch: Go to your nearest Yes Bank branch and request an account opening form.
Fill out the form: Fill in the application form with all the required details.
Submit the form: Submit the completed application form along with the necessary documents.
Documents required:
Identity proof: PAN card, Aadhaar card, Voter ID, Driving License, Passport, etc.
Address proof: Passport, Aadhaar card, Voter ID, Driving License, Utility bills, etc.Recent passport-size photographs