Yes Bank launches new category of accounts for entire family, BFSI News, ET BFSI

Yes Bank has launched a new category of value-added family savings accounts that comes with healthcare benefits and dedicated relationship managers for multiple accounts across family members.

The Yes Family proposition includes features curated to make everything from shopping & dining together and availing loans more convenient and rewarding. In addition, these accounts have a waiver of fees on ATM withdrawals and digital transactions and reward points on banking transactions that can be transferred within the family, and cashback and lifestyle offer.

Yes Family accounts include three programmes — Yes Prosperity, Yes Premia and Yes First programmes for different customer segments. “Through this proposition, we envisage increasing our monthly retail customer acquisition by 15% till December 2021,” said Prashant Kumar, MD & CEO, Yes Bank. Discounted locker rentals, competitive interest rates on fixed deposits, recurring deposits, home loans and auto loans are among other benefits built into the proposition.

The Yes Prosperity Family account is available to customers who maintain a combined average monthly balance (AMB) of Rs 50,000, Yes Premia Family for customers with an AMB of Rs 2 lakh or a net relationship value (NRV) of Rs 10 lakh at a family level while Yes First Family is available to customers maintaining AMB of Rs 8 lakh or an NRV of Rs 30 lakh at a family level.