All about Yes Bank Personal Loan for Self Employed

Personal Loan is an unsecured loan i.e, loan against which no collateral is required.

YES Bank, the fourth largest private sector bank provides Personal Loan to its customers- both salaried and self-employed individuals.

YES Bank Personal Loan helps borrowers to meet their financial requirements like- child’s education, home renovation and interior changes, family vacation or medical emergencies.

Here, we will discuss YES Bank Personal Loan for the Self-Employed individual.

Features Of YES Bank Personal Loan

  1. YES Bank offers a part-prepayment facility to its customers.
  2. The applicant enjoys the benefit of flexible repayment option.
  3. The Personal Loan is charged at attractive interest rates.
  4. You can transfer your existing high-cost Personal loan to YES Bank at competitive interest rates.

Eligibility Criteria for YES Bank Personal Loan

  • Age- Minimum and Maximum age limits are 21 and 65 years respectively.
  • Industry- The Self-employed individual must be professionals like CA, Architects, Doctors or non-professionals like businessman.
  • Annual Gross Receipt- The Gross annual receipt must be Rs. 12 lakhs.
  •     Work Experience- Applicant must have a minimum work experience of 3 years in the current business.

Other Factors affecting Eligibility Criteria

Apart from the above points, some other factors affect the eligibility for the Personal Loan:-

  • Stability of Residence – If the applicant is staying in his current residence for a few years, it will enhance the eligibility to get the loan. YES Bank issues a negative list of areas and locations which does not get the loan.
  • Stability of job – A Stable job with fixed income is more likely to have a better repayment capacity, thus enhancing the eligibility criteria.
  • Type of Industry– YES Bank issues a negative list of industries and professions. Applicants belonging to that list of professions will not get the loan.
  • CIBIL Score– Minimum CIBIL Score must be 650.
  •     FOIR– Minimum FOIR must be 0.45.

Documents for YES Bank Personal Loan

  • Duly filled application form.
  • ID proof- AADHAR Card, PAN Card, Driving License.
  • Residence proof- Any latest utility bills like Electricity Bill, Gas Bill, Passport.
  • Income proof (audit financials for last 2 years).
  • 3 months updated bank statement.
  • Proof of office address of the applicant.
  • Applicant should have proof of workplace ownership.
  •     Valid papers to prove the continuity of the business.

YES Bank Personal Loan Interest Rate

Amount Of LoanMinimum- Rs. 5 lakhs
Maximum- Rs. 50 lakhs
Loan TenureMinimum- 12 months
Maximum- 60 months
Rate of Interest12.49% – 20%
Processing Fees1.5% – 2%
Part prepayment chargesApplicable after 12 EMIs.Nil charges.


Approval and Disbursal

The approval and disbursal of the loan take place after proper verification of the documents.

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Interest rate start 10.75% * Upto 40 Lacs
Loan Duration: 12 - 60 months*

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