Product Details
Bank Name
Yes Bank
Account Name
Yes Vijay Defence Pension Account
Account Type
Salary Account
Interest Rate
Upto 1 lakh: 3.00%, above 1 lakh but less than 5 lakh: 4.00%, above 5 lakhs but less than 10 lakhs: 5%.
Free Debit Card
Engage Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
NIL
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Yes Vijay Defence Pension Account
Special Features
Complimentary feature-rich Engage debit card that offers exclusive lifestyle benefits.
Unlimited free transactions at all other Bank ATMs (Domestic).
Users can avail exclusive discount on Locker rental & Demat annual maintenance charges.
Eligibility Criteria
This account can only be opened by the members of Defence Forces.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Personal accident insurance cover of 40 lakh.
Air accident cover of 1 crore.
Accelerated YES Rewardz in first 90 days.
YES FIRST: An exclusive wealth management program for senior officers.
Cons
The bank did not clearly specify eligibility criteria.
Low interest rates.
Yes Vijay Defence Pension Account
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of 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?
Visit a Yes Bank Branch: Go to your nearest Yes Bank branch with the required documents.
Submit Application Form: Fill out the account opening form and submit it to the bank representative.
Provide Necessary Documents: You'll need to provide documents like your PAN card, address proof, and proof of employment.
Complete KYC: The bank will conduct Know Your Customer (KYC) verification.
Account Activation: Once the verification is complete, your account will be activated.