Yes Bank hikes PLR by 50 basis points

Yes Bank, on Monday announced a 0.50 per cent hike in its Prime Lending Rates (PLR) and above one year Fixed Deposit rates.
Following the revision, Yes Bank's PLR stands at 16 per cent (previously 15.5 per cent) while FDs having a tenure one year to eighteen months will now attract an interest rate of 9.50 per cent (earlier 9 per cent), the bank said in a press release here. All the changes are with effect from today.
"The bank has been observing a keen interest among customers to invest in deposit products and we believe this trend will sustain," said Yes Bank's Managing Director and CEO Mr Rana Kapoor. The bank also increased its FD rates for senior citizens, in the same tenure, to 10 per cent from 9.5 per cent earlier, it said.
Yes Bank is the second bank hiking its PLR after the 0.25 per cent hike in the Repo rate effected by the Reserve Bank last week. State-owned Jammu and Kashmir Bank raised its PLR from 13 per cent to 14 per cent after the Repo rate hike while large banks such as State Bank of India and ICICI Bank have adopted a 'wait and watch' approach prior to revising their rates.