Offer Fulfilled! Yes First Savings Account

[Pissant]

Tried opening this account, but was unable to do upi, the transaction getting rejected everytime, tried from sbi and IDFC phone pe and sbi gpay. It failed. Got a call from yes bank customer care, who after failing to get the process going, connected me with the nearest branch executive (25 km away) he asked for 10L IP which I already told the customer care that he would. And I am not going to fund 10L initially. So the customer care asks me to go for premia or gradeur. But I insisted that I would do it digitally. So he said he will try to resolve the issue and get back to me.

That's all still stuck. Unable to UPI

Something similar happened to me like I stated in an edit at the bottom of the Original post. HDFC, IDFC and IndusInd all blocked the transaction. Only Axis worked.

 

[Luxe]

Something similar happened to me like I stated in an edit at the bottom of the Original post. HDFC, IDFC and IndusInd all blocked the transaction. Only Axis worked.

Yes I read it, unfortunately my axis upi is weirdly stuck, I blocked my card as it was lost and now I am unable to use upi, while registering on axis app it says you need to activate debit card. And on gpay and phone "an error occurred"

Also I just went through the SOC posted by you. And at last it says, they can debit your account and try to charge it repeatedly for services if MAB is not maintained.

Do you think, for someone who is not planning to maintain MAB at all should do this?

I am not an Hni, I can take up it to like 2-3 lacks once in a while and probably similar figures of MF investments. That's all.

What if someday they charge for DC 😯, it's not cheap.

 

[Pissant]

Yes I read it, unfortunately my axis upi is weirdly stuck, I blocked my card as it was lost and now I am unable to use upi, while registering on axis app it says you need to activate debit card. And on gpay and phone "an error occurred"

Also I just went through the SOC posted by you. And at last it says, they can debit your account and try to charge it repeatedly for services if MAB is not maintained.

Do you think, for someone who is not planning to maintain MAB at all should do this?

I am not an Hni, I can take up it to like 2-3 lacks once in a while and probably similar figures of MF investments. That's all.

What if someday they charge for DC 😯, it's not cheap.

I have been keeping zero in that account since the month I opened it. I used it to get Yes Reserv by putting in 10lk last month but after I got the card I removed the funds again. No charges yet. And anyways, they cannot put your account in negative as per RBI’s terms. And even if they do want to charge, they cannot do it without prior intimation. They would have to send a message and email informing you to maintain MAB or you will be charged.

 

[Luxe]

I have been keeping zero in that account since the month I opened it. I used it to get Yes Reserv by putting in 10lk last month but after I got the card I removed the funds again. No charges yet. And anyways, they cannot put your account in negative as per RBI’s terms. And even if they do want to charge, they cannot do it without prior intimation. They would have to send a message and email informing you to maintain MAB or you will be charged.

Thank you 🙏 for all the clarity. Looks like no harm if I can make it happen. Yesbank anyways was fined 90 lakhs by RBI for such misconduct of charging people without prior intimation. I guess they would be even more cautious now. Ok I will try. And will post here if I am able to. Thanks for this thread as well.

 

[vijay.vj]

I have been keeping zero in that account since the month I opened it. I used it to get Yes Reserv by putting in 10lk last month but after I got the card I removed the funds again. No charges yet. And anyways, they cannot put your account in negative as per RBI’s terms. And even if they do want to charge, they cannot do it without prior intimation. They would have to send a message and email informing you to maintain MAB or you will be charged.

Congrats. Is it LTF reserv from Yesbank or FYF

Request you to share your experience.

 

[vijay.vj]

Thank you 🙏 for all the clarity. Looks like no harm if I can make it happen. Yesbank anyways was fined 90 lakhs by RBI for such misconduct of charging people without prior intimation. I guess they would be even more cautious now. Ok I will try. And will post here if I am able to. Thanks for this thread as well.

@Luxe : Any update? How did it go

 

[sourodeep]

Can anyone please share which Bank's UPI worked for the IP other than Axis?

 

[Ramakgmc]

We are holding Yes First status for a while. What is the best credit card offered by them - LTF and on charge basis. Thanks

 

[Tamraj Kilvish]

But

• Average Monthly Balance (AMB) of INR 10 Lakhs & above, across Savings and Current Accounts OR
• Net Relationship Value (NRV) of INR 40 Lakhs & above OR
• Net Salary credit of INR 3 Lakhs & above per month in YES First Salary account OR
• Based on loan relationship

But I have heard that Yes Bank does not downgrade account even if you keep less than 10k in it.

The Debit Card has Zero Charges as long as you are a Yes First Customer.

But they will downgrade or convert your account into normal saving account

 

[Dazzwilliams]

But

But they will downgrade or convert your account into normal saving account

Yes don't convert account but they'll start charging for DC and other services if account criteria is not met for more than 1 quarter

 

[wanderer0]

Yes don't convert account but they'll start charging for DC and other services if account criteria is not met for more than 1 quarter

Has it happened to someone already?

I visited the branch and they told me I need to initial funding of 10L for Yes first (5L for Yes grandeur) and keep it 3 months, after that Yes doesn't charge anything. It's 0 amb forever.

 

[Channakya]

Is this process working now

 

[Dazzwilliams]

Interest on money (more than 10L) kept in savings account (not FD) reduced from 7.0% to 4.0%.
No point maintaining 10L AQB for YesFirst account

 

[BrokenBoot]

foun

A question for the people who opened an account with Yes Bank online:

Are you able to connect with customer care? After the Voice IVR when it asks you to enter your registered number, I get an error stating invalid selection after I enter my number.

found any solution ? same issue here 🥲 , it's been 2 days

 

[ashwinikumar900]

I recently opened up a Yes First Savings account for smaller transactions and to get approved for Marquee/Reserv

I did it online via:

https://yesrapido.yesbank.in/sdcss/d/retail-banking/account-opening/savings

(not a referral link)


I just had to do 50,000 funding to be able to open the Yes First Savings account which I found surprising. I received the Yes Eclectic Debit Card which has really good offers on Blinkit, Zomato and BMS.

But it also comes with 0 forex fee, Complimentary access to Domestic airport lounges, thrice per quarter and International airport lounges, twice per year, 4 complimentary rounds of green fees per calendar year & 12 complimentary golf lessons per calendar year. Discounted golf services at 50% of the green fee beyond complimentary sessions and is on the Visa Infinite platform.

And, it has a reward rate of 3x on Domestic Spends (not sure if you can get rewarded for paying CC bills with it) and 4x on International Spends

Now, coming back to the account. I was actually pleasantly surprised with the iris by Yes Bank app and their Netbanking interface. It has a bunch of useful features and is quick and responsive.

I also decided to open up a Yes Securities Demat account since they were offering decent fees for Yes First customers and since I had heard good things about it from a friend. I plan to move around 30-40lk into this demat account if I am happy with it after a couple of months. I will provide updates on this in the future since I have been unable to find any information at all about Yes Securities on here and the internet. Nobody seems to have written a review on them. If anybody here has experience with them I would really appreciate your insight.

Overall, I would have to say that Yes Bank has really polished up their act recently and I hope they can continue their efforts.

Here are some pictures of the Welcome Kit I received. The quality of the leather sleeve/case/bag is actually pretty good.





View attachment 68964View attachment 68968View attachment 68967


Note: UPI is the only way to do the initial funding online. When I tried using HDFC via GPay they kept blocking the transaction as fraud and calling me repeatedly, even after approving it on the IVR twice. Then, when I funded it using my Axis account via GPay it went through, but the account has been put in Debit Freeze and they are requesting me to come to the branch to unfreeze the account. Which I will not be doing anyways since that account was pretty much Dormant.

IRIS is among one of the best mobile banking apps. After recent updates, there is no doubt about that.

But net banking needs some serious work.