Private sector lender Yes Bank has launched a full service digital savings account which would ensure physical distancing and eliminate the need for a branch visit, physical documentation or any in-person interaction in times of the current pandemic.

It will also help the lender to cater to a diverse customer base, especially in tier 1 and tier 2 cities, in line with the its strategy of building a transformed ‘Digital Bank’.

“Yes Bank’s digital savings account comes with a virtual debit card, unlocking over 100 features on mobile through YES Mobile and web including transactions, fund transfers and online shopping using the virtual debit card,” it said in a release, adding that the account will offer six per cent interest.