Pental said that the value addition from the enhanced programme offerings and exciting rewards would deliver a premium customer experience that was tailored to their lifestyle.
Yes Bank is looking to grow deposits to Rs 2 lakh crore by the end of this fiscal year. It is looking to win over the retail customer with a suite of service offerings.
The private lender on Tuesday unveiled the revamped ‘Yes Premia’ that offers personalised solutions for consumer segments. Personalised solutions will be provided to consumer segments ranging from small business owners to salaried professionals and senior citizens.
The bank aims to increase the share of retail, and micro, small and medium enterprises (MSME) to 60% of the loan book, compared to 45% at present. The bank also aims to reach a deposit base of Rs 2 lakh crore by March, 2021.
Rajan Pental, global head, retail banking, Yes Bank, said that bank aimed to raise its deposits book to Rs 2 lakh crore by the end of March this fiscal year. The lender had a deposit base of Rs 1.35 lakh crore till September 2020. The lender is also planning to expand its retail and SME loan book to Rs 10,000 crore in the third quarter from Rs 6,800 crore in the September quarter.
Pental said that the bank has received limited requests for restructuring retail loans ever since the moratorium was lifted in August. The overall restructuring request was not more than Rs 200 crore, he said.
With its new revamped product offering for retail, Yes Bank is looking at establishing a truly differentiated bank, with best-in-class technology and innovation capabilities as cornerstones to drive significant scale in the retail banking business.
Pental said that the value addition from the enhanced programme offerings and exciting rewards would deliver a premium customer experience that was tailored to their lifestyle.
For salaried customers, Yes Premia will offer complimentary emerge debit card with benefits worth over Rs 50,000, preferential pricing on locker, trading account and loan requirements, among other benefits. Similarly, the bank will offer curated current accounts to suit business requirements for self employed customers. The bank has also promised wide range of fixed deposits with higher interest rate and overdraft facility for senior citizens.
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