Private sector lender Yes Bank has announced a 200 bps rise in savings account rates soon after regulator Reserve Bank of India announced the deregulation in this genre of interest rates too.

The savings account rates of the bank now stands at 6%.

Base rate of the bank has also been revised to 10.50%, a 25 bps hike.

Private lender ICICI Bank however said it would want to wait for sometime and watch the scenario before taking any stand.