Yes Bank vs IDFC First Savings Account — Which is Better in 2026?
Yes Bank savings account interest rate is 4.00% vs IDFC First at 6.00%. IDFC First pays ₹2,000 more per year on a ₹1L balance. However, consider fee waivers and digital features before choosing.
Last updated: April 6, 2026
Yes Bank
4.00%
Savings interest p.a.
IDFC First
6.00%
Savings interest p.a.
✓ Better dealYes Bank vs IDFC First Savings Account — Detailed Comparison
| Feature | Yes Bank | IDFC First |
|---|---|---|
| Savings Rate | 4.00% | ✓6.00% |
| Processing Fee | ₹100/month if avg < ₹10,000 | Zero balance (FIRST Smart) |
| Eligibility | Any Indian resident, NRI | Any Indian resident (fully digital) |
Savings Rate
Yes Bank
4.00%
IDFC First
6.00%
Processing Fee
Yes Bank
₹100/month if avg < ₹10,000
IDFC First
Zero balance (FIRST Smart)
Eligibility
Yes Bank
Any Indian resident, NRI
IDFC First
Any Indian resident (fully digital)
Verdict
IDFC First pays a higher savings account interest rate (6.00%) vs Yes Bank (4.00%). Small finance banks and neo-banks often pay 6-7%, but larger banks offer better branch networks and fewer service charges. Choose IDFC First if you prioritise return on idle cash; choose Yes Bank if you need a full-service relationship bank.
Frequently Asked Questions
Which savings account gives more interest — Yes Bank or IDFC First?+
IDFC First currently offers a higher savings rate (6.00%). Yes Bank pays 4.00% and IDFC First pays 6.00%. On a ₹1L balance, the difference is ₹2,000 per year.
What are the minimum balance requirements for Yes Bank vs IDFC First savings account?+
Yes Bank: Any Indian resident, NRI. IDFC First: Any Indian resident (fully digital). Failure to maintain minimum balance results in a penalty deducted from your account.
Can I open a savings account in Yes Bank or IDFC First online?+
Both Yes Bank and IDFC First offer video KYC-based digital account opening. IDFC First, Kotak, and Yes Bank are fully app-based. SBI and PNB may require a branch visit for full KYC accounts.
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Disclaimer: Interest rates shown are indicative as of April 2026 and subject to change without notice. Actual rates depend on your credit score, income, and bank policy. This is for informational purposes only and does not constitute financial advice. Always verify rates with the bank before applying.