YES Bank

Features and Benefits of Yes Bank

Here are some of the key features and benefits of Yes Bank that it offers to its customers:

Yes Bank Features

Let’s take a look at some of the top features Yes Bank offers to its customers.

• Digital Banking: With Yes Bank, the customers can expect cutting-edge digital banking services, making it convenient for customers to manage their accounts, conduct transactions, and access financial information online with the help of mobile apps.
• Innovative Solutions: The bank aims to continuously introduce innovative products and services to meet the evolving needs of its customers. This includes customised banking solutions for businesses as well as individuals.
• Customer-Centric Approach: Yes Bank offers excellent customer service and is committed to meet customer requirements in an efficient manner. 

Benefits of Banking With Yes Bank 

Here’s a quick snapshot of the benefits that an individual can expect by banking with Yes Bank.

• Convenience: Customers can conveniently perform transactions online, reducing the need for physical visits to the bank.
• Credit Facilities: Yes Bank offers various Yes loan products like personal loans, home loans, and business loans. All these products are available at flexible terms and competitive interest rates.
• Credit Cards: With Yes Bank, one can avail the exclusive benefits of reward programs, cashback offers, along with travel benefits. 
• Safety and Security: The bank is regulated by Reserve Bank of India (RBI) and ensures the safety of customer deposits and adheres to banking regulations. 
• Accessibility: Yes Bank has a widespread network of various branches and ATMs. Yes Bank ensures the customers can easily access their accounts as well as banking services on PAN India basis.

Overview of Yes Bank

A ‘Full-Service Commercial Bank’, YES Bank offers an attractive range of technology, services, and products catering to MSMEs, retail and corporate clients with a close-knit network of 1000 branches and 1800 ATMs pan India. 

YES Bank handles its Merchant banking, Investment banking, and Brokerage businesses via YES SECURITIES, the bank’s completely owned subsidiary. Headquartered in Mumbai, YES Bank functions across India and globally including an IBU at GIFT City and a Representative Office in Abu Dhabi. 

The key financials of YES Bank include 11.6% growth in the balance sheet, a stable net interest margin of 2.8%, 5.9% growth in deposits, and a CASA ratio of 30.2%.

Products Offered by Yes Bank

Here are the different financial products offered by Yes Bank: 

Mutual Funds

With Yes Bank, the users can expect a wide range of mutual funds products to its customers offering them with opportunities to invest in a diverse range of assets. With Yes Bank mutual funds, investors can easily access professional investment management services and then diversify their portfolios to potentially achieve their financial goals while benefiting from the bank’s expertise in financial services. 

Portfolio Management Services 

With Yes Bank, users can get comprehensive portfolio management services to its clients offering them a tailor made approach towards investment management. Yes Bank’s PMS aims to optimise the returns of its customers by actively managing investment across multiple asset classes. The bank offers market analysis and offers risk assessment to make informed investment decisions. 

Alternate Investment Funds

Yes Bank offers Alternate Investment Funds (AIFs) as part of its comprehensive suite of financial services. AIFs are fundamentally a category of pooled investment vehicles that go beyond traditional investments in stocks as well as bonds. The AIF’s at Yes Bank are managed by professional experts who have expertise in the specific asset class they invest in. These funds are particularly attractive to investors who are looking to diversify their portfolio and seek a potentially higher return. 

Sovereign Gold Bond

Yes Bank offers Sovereign Gold Bonds (SGBs) as part of its financial product offerings. SGBs are government-backed securities denominated in grams of gold. These bonds offer investors a secure and convenient way to invest in gold without the need to physically buy and store the precious metal.

Here’s how Yes Bank’s Sovereign Gold Bonds work:

• Government Backing: SGBs are issued by the Government of India and are backed by the sovereign guarantee. This makes them a safe and credible investment option.
• Gold Price Linked: The value of SGBs is linked to the prevailing market price of gold. Investors can benefit from potential capital appreciation as the price of gold increases.
• Liquidity: SGBs are listed on stock exchanges, offering liquidity to investors. They can be sold in the secondary market before maturity if needed.
• Lock-in Period: SGBs have a lock-in period of 5 years. However, after the fifth year, investors have the option to exit on the interest payment dates.
• Tax Benefits: The interest income earned on SGBs is exempt from capital gains tax if the bonds are held until maturity. This makes them a tax-efficient investment.

Bond/Debenture

Yes Bank issues bonds and debentures as part of its capital-raising activities and financial product offerings. Bonds and debentures are debt instruments that allow the bank to raise funds from investors. Here’s an elaboration on Yes Bank’s bonds and debentures:

1. Debt Instruments: Bonds and debentures are essentially loans that investors provide to Yes Bank. In return, investors receive periodic interest payments (coupon payments) along with the return of their principal amount at maturity.
2. Types of Bonds/Debentures: Yes Bank may issue various types of bonds and debentures, including:

• Fixed-Rate Bonds: These offer a fixed interest rate throughout the tenor, providing predictable returns to investors.
• Floating-Rate Bonds: The interest rate on these bonds is linked to a benchmark rate and may change periodically, offering potential protection against rising interest rates.
• Convertible Bonds: These bonds can be converted into equity shares of the bank after a specified period, allowing investors to potentially benefit from share price appreciation.
• Subordinated Debentures: These are lower in the hierarchy of repayment in case of a bank’s liquidation, making them riskier but typically offering higher interest rates.

Gold Monetisation Scheme

Yes Bank offers the Gold Monetisation Scheme (GMS) as part of its banking services. The Gold Monetisation Scheme is a government-backed program introduced by the Government of India to encourage individuals, households, and institutions to deposit their gold holdings with authorised banks. Here’s an elaboration on Yes Bank’s Gold Monetisation Scheme:

• Safe and Secure Gold Deposits: Under this scheme, individuals and institutions can deposit their physical gold, including jewellery, coins, and bars, with Yes Bank. The deposited gold is securely stored in designated vaults.
• Earn Interest: Depositors can earn interest on the gold deposits, which is determined based on the tenure and the prevailing market interest rates. The interest can be received in the form of cash or additional gold, depending on the depositor’s preference.
• Flexible Tenures: Yes Bank offers different tenure options for gold deposits, typically ranging from 1 year to 15 years. Depositors can choose the tenure that suits their financial goals.
• No Hassles of Safekeeping: The scheme eliminates the need for individuals to worry about the safekeeping and security of their physical gold, reducing the risk of theft or loss.
• Redemption Options: At the end of the chosen tenure, depositors have the option to redeem their gold in the form of either the original jewellery or coins (subject to purity testing) or its equivalent value in cash.
• Tax Benefits: Gold deposits under the Gold Monetisation Scheme are exempt from wealth tax, capital gains tax, and income tax. This makes it a tax-efficient way to earn returns on idle gold assets.

Services Offered by YES Bank 

The major products offered by them are:

Loan Against Property

YES Bank’s Loan Against Property can be used to fulfil professional, personal, and business requirements of the borrower. The loan can be availed against commercial, industrial, residential, school, warehouse properties and for the purchase of commercial property for a flexible tenure of up to 15 years. You can avail of a loan amount of up to ₹10 crores with dropline overdraft and balance transfer facilities.

Personal Loan

You can avail of a personal loan of up to ₹40 lakh from YES Bank to fulfil your emergency financial needs. Long repayment loan tenures ranging from 12 to 60 months help ease the burden on your monthly budget. YES Bank offers a lucrative rate of interest starting from 10.99%. It offers a speedy approval of your loan without having to offer collateral.

Business Loan

YES Bank offers a collateral-free business loan to self employed professionals, partnerships, sole proprietorships, closed held companies, limited liability partnerships, and Pvt. Ltd. company. A loan amount of up to ₹50 lakh is offered with a flexible repayment tenure ranging from 12 to 60 months.

Home Loan

YES Bank provides home loans that can help you realise your dreams with loan top-up and loan transfer facilities. The interest rates on home loans start from 6.70% with a meagre processing fee of 2% on the loan amount. You can avail of a loan amount of ₹10 lakh to ₹10 crores with YES bank.

Other products and services include:

• Digital Salary Account
• Savings Account
• Current Account
• Fixed Deposits
• Recurring Deposits
• NRI Savings Account
• NRE Savings Account
• YES First
• YES Premia
• Online Banking
• NetBanking Services
• Credit Card
• Credit Card Services
• Debit Card
• Corporate Loans
• Commercial Vehicle Loan
• Construction Equipment Loan
• Affordable Housing Loan
• Loan in Seconds
• Bike Loan
• Car Loan
• Gold Loan
• Loan Against Securities
• YES Sampoorna Micro LAP
• Healthcare Industrial Printing Loan
• Credit Card Bill Payment
• Services for Senior Citizens & Customers with Disabilities
• Aadhaar Enrolment Facility