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Private sector lender Yes Bank said on Thursday it raised savings rates to 7% from 6% for domestic customers with immediate effect.

It also raised non-resident Indian savings account deposit rate by 200 basis points to 6% for deposits up to Rs 1 lakh, it said in a statement.

The lender also raised interest rate for deposits by non-resident Indians by 300 basis points to 7% for balances above Rs 1 lakh, it added.

On Oct 25, the RBI deregulated savings deposit rates, its last administered bank rate.

Source BY Business Standard

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