Yes Bank Account Reward

[connection01]

Apparently I am not allowed to post in the Banking section so posting here.

Yes bank savings account offer some nice rewards.
Here’s the link for all details https://www.yesrewardz.com/content/overview

Terms:

• 1 YES Rewardz equals Rs. 0.25.
• YES Rewardz redeemable Rewardz balance should be minimum of 250 Rewardz to be eligible for redemption.

I have a Yes First account so I will take that for calculation of the reward points. Yes Private get’s a little higher rewards.

1. Bill Payment 150 rewards * 5 transactions (min transaction value 450)
2. ACH (use for MF SIP) 225 rewards * 5 transactions (min transaction value 7500)
3. Foreign Inward Remittances: 750 rewards (monthly receipt 225000)
4. FD Book 750 reward for (75000 FD every month)

That gives 3375 points every month worth INR 840.

Other rewards that I do not use:
LRS remittances Flat 3000 rewards (minimum amount 750000)
And more smaller value ones.

 

[D₹V]

Bill Payment 150 rewards * 5 transactions (min transaction value 450)

On bill payment of ₹2250, on will easily get 5% cashback from many cards/methods.

While Yes Bank offers only ₹37.50.

That's why no one talks about it & it's not relevant.

 

[connection01]

What about payment for mutual funds SIP, I am not sure if we can get cb for SIP anywhere else. Also for foreign remittances, FD (min 45 days).Those were good enough savings for nothing extra.

 

[D₹V]

What about payment for mutual funds SIP, I am not sure if we can get cb for SIP anywhere else. Also for foreign remittances, FD (min 45 days).Those were good enough savings for nothing extra.

Hmm, that's useful.

 

[pmhunter]

I think the redemption is like HDFC's Smartbuy booking through points, 70% points, 30% cash