Private sector lender Yes Bank has announced an increase in interest rates of its fixed deposits by as much as 25-50 bps across selected maturities.

The rate hike has been implemented by the bank on deposits having tenors ranging from 1 month to more than 1 year.

Increase in rates by lending as well as deposit rates by various banks has been triggered by the recent 25 bps hike in policy rates by regulator Reserve Bank of India.

Other banks to have increased fixed deposit rates include IDBI Bank and ING Vysya Bank.