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Yes Bank Personal Loan

Yes Bank offers personal loans at attractive interest rates starting from 10.99% per annum. You can get up to Rs. 40 lakhs for maximum tenure of up to 5 years. The processing fee is up to 2.50% of the loan amount. You can also make prepayment at 2% on principal outstanding + GST charges.

Yes Bank Personal Loan Details

Following are the key highlights of Yes Bank Instant Loan:

Interest Rates   10.99%
Loan Amount Rs. 1 Lakh - Rs. 40 Lakhs
Tenure 1 Year to 5 Years
Loan Processing Fee Up to 1.25%-2.5% of loan amount
EMI Bounce Charges  Rs. 600 – Rs. 1,200 per bounce
Foreclosure Charges Foreclosure of Loan is allowed post repayment of 12 EMIs at 2% - 4% charges
Part Prepayment Charges 2% plus applicable taxes on part payment amount paid
EMI Rs. 2,177 Per Lakh

Features of Yes Bank Personal Loan

Yes Bank Personal Loan is loaded with the following attractive features: Before you apply for Yes Bank Personal Loan, you must learn about the associated features and benefits of the product.

1. Unsecured Loan:To avail YES Bank Personal Loan, you do not require any loan security, collateral or guarantor. The loan is offered as a 100% unsecured loan.

2. Flexible Repayment: There is no fixed EMI schedule to follow. A borrower can use an online calculator and choose the repayment structure according to their repayment capacity. As a policy, Yes Bank offers Personal Loans on flexible repayment; you can choose loan tenure up to 5 years.

3. Approval in 60 Seconds: YES Bank claims instant in-principal approval of eligible applicants. You just need to fill the form online and instantly your application will be acknowledged for eligibility success.

4. Eligibility: A salaried or a self-employed person with a stable monthly income of Rs. 25,000 or more can apply for Yes Bank Personal Loan up to Rs. 40 Lakhs. The applicant needs to be a minimum of 21 years old or a maximum of 60 years on loan maturity. The documentation requirement is also limited to KYC, address and income verification.

5. Quick Loan Disbursal: The loan processing is as swift as it can get. Once your application is approved and you submit the required documents, loan disbursement will be processed within a few hours.

6. Attractive Interest Rates:With YES Bank as your lender, you can expect an attractive rate of interest on Personal Loans, starting at 10.99% p.a.

7. Minimal Documentation: You can apply for a Yes Bank Personal Loan online through our website; the process is quick, owing to the basic documentation requirement.

8. Balance Transfer Facility: Yes Bank facilitates affordable personal loan balance transfer at the lowest rate of interest.

9. Part Prepayment Facility: 2% plus applicable taxes on part payment amount paid. 

10. Foreclosure Allowed: Foreclosure of loan is allowed after prepayment of 12 EMIs. Charges applicable after 12 months are:

  • 13 - 24 Months of EMI repayment: 4% of principal outstanding 
  • 25 - 36 Months of EMI repayment: 3% of principal outstanding
  • 37 - 48 Months of EMI repayment: 2% of principal outstanding
  • >48 Months of EMI repayment: Nil

Yes Bank Personal Loan EMI Calculator

Before you calculate Yes Bank Personal Loan EMI, you must know that you get complete flexibility to choose the loan tenure and monthly instalments. You can either opt for fixed EMIs or flexible ones, according to your budget. The longer is the tenure of the loan, the shorter would be the EMIs and vice versa. So, always choose EMI according to your repayment capacity.

To calculate Yes Bank Personal Loan EMI, you can access the Yes Bank Personal Loan EMI Calculator available on TheMoneyTrunk under Financial Tools section.

Now fill in the required details: Loan Amount, Tenure, and Rate of Interest.

As you hit the ENTER button, you will instantly get:

  • Loan EMI
  • Total Interest Payable
  • Total Payments (principal + Interest).

You will also get a visual representation of the payments.

Yes Bank Personal Loan Eligibility Criteria

Employment type Salaried & self-employed individuals having a stable source of monthly income.
Employment status Must be employed/in business for at least 2 years with at least 1 year experience with current employer/business.
Nationality Indian
Income Minimum Rs. 25,000  p.m. for salaried & Rs. 12 Lakhs gross annual receipts for self-employed.
Minimum age 21 years
Maximum age 65 years
Documentation You must possess valid documentation for KYC & income verification.
Credit score 700 or above

Comparison of Yes Bank Personal Loan vs Other Lenders

Bank Name Loan Amount Tenure Interest Rate (per annum) Processing Fee
Yes Bank Personal Loan Rs. 1 Lakh - Rs. 40 Lakhs 12 months - 60 months 10.99% onwards 1.25%-2.5%
Axis Bank Personal Loan Rs. 50,000 - Rs. 40 Lakhs 12 months - 60 months 10.49% 1.5% to 2% of the loan amount + GST
ICICI Bank Personal Loan Up to Rs. 40 Lakhs 12 months - 60 months 10.50% Rs. 4999-2%
HDFC Personal Loan Up to Rs. 40 Lakhs Up to 7 years 10.50% - 24% Up to Rs. 4,999

How to Get the Best Offer for Yes Bank Personal Loan?

How to Get the Best Offer for Yes Bank Personal Loan?

You can avail the best personal interest rate from Yes Bank based on the assessment of your loan amount, loan tenure, income, other obligation, and employer type.

Below are some factors that can help you get the personal loan rate of interest offer from Yes Bank:

  • Loan amount: It is the amount you borrow from the bank. Usually, banks offer lower interest rate for higher loan amount.
  • Income: Yes Bank analyses your loan repayment capacity through your net monthly income. Individuals will higher salary bracket are offered loans at lower rate of interest.
  • Employer category: Every bank has an internal list of companies that fall into categories ranked from high to low based on company’s size, reputation, and relationship with the bank. Employees working in higher category companies get attractive Personal Loan benefits and lower interest rates.
  • CIBIL score: Most lenders prefer offering low interest rate personal loans to borrowers with high CIBIL score (preferably 750 or above).
  • Relationship with the bank: If you are an existing customer of the bank, you may get special rates, offers, and charges on personal loan.
  • Repayment tenure: Personal loan tenure is usually shorter, ranging from 12 months to 60 months. If you want better interest rate, opt for longer tenure.

Personal Loan Verification Process

Yes Bank’s Personal loan verification process involves the following steps:

  • Verification call: Once you submit the  online personal loan application  on TheMoneyTrunk, we will forward your application to the lender. You will receive a call from a representative of Yes Bank to verify details and arrange for pick-up of documents.
  • Documents collection: Yes Bank will send its representative to collect your documents required for personal loan.
  • Verification of documents: The bank will subsequently verify the submitted documents.
  • Loan approval: On successful document verification, your loan will be approved and you will be notified about the same.
  • Loan amount disbursal: If you agree with the personal loan agreements, the loan amount will be disbursed within hours into your bank account.

Factors Affecting Yes Bank Personal Loan Interest Rates

Following factors affect Yes Bank Personal Loan interest rates are:

  • Tenure: The repayment tenure of a personal loan can affect the interest rates charged by a bank. Loans with longer tenure usually attract a lower interest rate as compared to loans with shorter tenure.
  • Borrower’s repayment capacity: The repayment capacity of the borrower plays a vital role while determining interest rate. Generally, borrowers with a higher repayment capacity are offered a lower rate of interest.
  • Relationship with the bank: If you have a good relationship with the bank, you may get lower their interest rate on personal loan. Usually, banks offer special rates for their esteemed customers.
  • Employment: Interest rate can also vary according to the type of borrower’s profession. Most banks offer a lower interest rate to salaried borrowers compared to self-employed individuals as they have a steady source of income.
  • Borrower’s age: Interest rates on personal loans may also vary depending on the age of the borrower. The bank may offer lower interest rate to senior citizens as compared to youngsters.
  • CIBIL score: Individuals with a good credit score (preferably 700 or above) usually get a lower rate of interest. That is because CIBIL score defines a borrower’s creditworthiness.

Part Payment Clause for Yes Bank Personal Loan

Yes Bank allows part prepayment of Personal Loan after successful payments of 12 EMIs and that too, in accordance with the applicable limit. You can part prepay 20% of the principal outstanding between 13 to 36 months of the loan duration, and 25% of principal outstanding between 37 to 60 months of the loan period. The prepayment would attract a fee of 2% plus applicable taxes on part payment amount paid. Grab Info: Tax Benefit on Personal Loan.

Yes Bank Grievance Details

Find below Yes Bank Personal Loan Customer Care Number & other details

Toll free contact number: 1800 1200

Website URL: www.yesbank.in

Email: [email protected]

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