Product Details
Bank Name
Yes Bank
Account Name
YES Essence Savings Account
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, customise option is available
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Average Monthly Balance (AMB) of Rs. 25000.
Debit Card Charges
Rs 399 ( Annual Fee)
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
YES Essence Savings Account
Special Features
2% cashback on select debit card.
YES Rewardz points on every transaction.
100% discount on Locker rental/Demat AMC for 1st year.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free SMS & Email alert facility
Opportunity to earn 9000 YES Rewards Loyalty points in first 90 days.
Free cash withdrawal facility across all YES Bank ATMs.
24/7 online fund transfer & bill payment through free NEFT, RTGS & UPI facility.
2% cashback on select debit card.
YES Rewardz points on every transaction.
100% discount on Locker rental/Demat AMC for 1st year.
Cons
YES Essence Savings Account Review
The account comes with low interest rate and offers average 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
Product Review
Account Opening and Procedure
How to open an Account?
Online:
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.
Choose YES Essence Savings Account: Select the specific YES Essence Savings Account that suits your needs.
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.