Yes Bank was established in 2004 and their headquarters in Mumbai. It offers a wide range of banking and financial services for corporate and retail customers. This loan is also available for both salaried and self employed customers. A personal loan has been borrowed from a bank to meet personal needs and day-to-day emergencies. Yes bank is used to help with expenses related to travel plans, medical emergency, wedding, and home renovation etc. Yes Bank personal loan is among the most convenient ways to avail cash.
1. No requirement of security :
Yes Bank is an unsecured loan that's why it does not required any security and guarantor for personal loan
2. Quick approval :
Yes Bank provides personal loan approval in a very speedy way for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for the personal loan either online or offline.
3. Simple documentation process :
Yes Bank required less and simple documentation for the processing of personal loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form. It is not required to submit so many documents for a personal loan. The process of documentation is very simple and fast
4. Offers best interest rates :
The minimum interest rate of Yes Bank personal loans is 11% and the maximum interest rate is 16.75%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score.
5. Easy repayment tenure :
Yes Bank personal loan offers the best and flexible loan tenure of 1 years to 3 years. The Yes Bank personal loans are taken to meet their sudden needs of the customers.
|
TYPE |
CHARGES |
|
Preclosure charges |
13-24 months of EMI repayment - 4% of principal outstanding 25-36 months - 3% of principal outstanding 37-48 months - 2%. No fee applicable above 48 months of EMI repayment |
|
Part-payment charges |
2% plus applicable taxes on the part-payment amount |
|
Processing fees |
2.50% of loan amount |
|
Cheque bounce |
Rs 750 for each bounced cheque plus applicable taxes |
|
BANKS |
INTEREST RATES |
|
12% to 24% |
|
|
11.30% to 16.40% |
|
|
12.15% to 15.15% |
|
|
11.50% to 12% |
|
|
10.75% to 21.50% |
|
|
10.50% to 16.99% |
|
|
20.00% to 22.00% |
|
|
10.50% to 17.99% |
|
|
10.99% to 16.25% |
|
|
11.00% to 19.20% |
|
|
12.00% to 14.00% |
|
|
14.00% to 23.00% |
|
|
10.75% to 17.84% |
|
|
11.00% to 16.75% |
|
|
7.65% to 12.65% |
|
|
12.15% to 14.15% |
|
|
12.05% onwards |
It is difficult to get personal if you are not eligible. Now for your information we mention eligibility point in this table:
|
ELIGIBLE |
Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies. |
|
AGE |
25 years to 53 years at the time of loan maturity |
1. YES Bank Personal Loan
2. YES Bank Business Loan
3. YES Bank Holiday Loan
4. YES Bank Car Loan
5. YES Bank Commercial Vehicle Loan
6. YES Bank Credit Cards
Some Important documents required for your YES Bank Personal loan:
|
TYPE |
DOCUMENTS |
|
Proof of Identity |
Aadhar card, pan card, driving license, passport etc. |
|
Address proof |
Aadhar card, voter id, rental agreement, registry and utility bills |
|
Income proof |
Last 3 months bank statement |
Browse to YES bank portal
Now go to “Personal” section
IN “YES Individual” menu select “Loans”
Now click on “Personal loan”
Complete the registration form and attached all required documents
After that submit your application form
The following formula is used to calculate EMI of Yes Bank personal loan :
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments
The maximum limit for Yes Bank personal loan is Rs. 2 lakh.
Yes Bank personal loan interest rate is 20% to 22%
The minimum and maximum tenure of YES Bank personal loans is 1 to 3 years
Processing fee is charged by Yes bank personal loan starting at 2.50% loan amount.
YES, your age must be 25 years to 53 years at the time of loan maturity
Directly visiting the nearest branch or can apply online at their website.
It’s an unsecured loan, no collateral and security needed to get a Yes bank personal loan
Last Updated on : 07/Sep/2020Know More About
You're eligible for a Yes Bank Personal Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Yes Bank Personal Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 20% - 22% |
| Processing Fees | 2.50% of the loan amount |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Personal Loans EMI Calculator