What is Yes Bank Personal Loan?
A personal loan is kind of unsecured loan given for family(wedding ,vacation, education,medical), household (extensions, repairs, for purchasing air condition, camera, refrigerator etc). It only requires minimum documents for the loan.
- Advantages Of Personal Loan
- This is the easiest type of loan available in the market because the paperwork is minimal.
- It doesn’t take much time for issuing.
- People can directly apply to the bank without any agent’s help.
Why YES BANK Personal Loan?
YES BANK is growing faster than any other private bank of India and it became the 5th largest bank in INDIA. It has 600 branches all over in the country. It provides the best service to their customers. Nowadays this bank operates several business lines like retail, financial markets, investment banking, corporate finance, business and transaction banking, and they also do wealth management.
Eligibility Criteria of Yes Bank Personal Loan
- Minimum age of 21 years and maximum of 60 years.
- Minimum 2 years of work experience if self employed minimum 2 years of business experience.
- Minimum income 25,000
- Minimum CIBIL score 650
- The applicant should have an account in this bank.
Documents Required for Yes Bank Personal Loan
KYC Documents-
- Pan Card
- Adhaar Card
- Voter’s ID
- Passport Size Photo
Income Documents
- Salaried : Last 3 years of PAYSLIPS, 6 months salary account bank statement.
- Self – employed :IT files of last 2 years, Financial Documents, last 6 months primary account statement of company.
- Installments applicant is currently paying , all the numbers of credit cards and credit limit applicant has.
Proof of Employment / Business Continuity
- Salaried: Form 16 or appointment letter of 2 years earlier.
- Self Employed : Tax registration certificate of dated 2 years or earlier period.
- Property Documents (HL/LAP)
- If the property is under construction proof of booking amount or allotment letter.
- If the property is ready Sale deed, Property tax paid certificate(latest).
YES BANK PERSONAL LOAN INTEREST RATES 2018
YES BANK’S interest rate depends on some factors like applicant’s repayment capacity, and the purpose of the funds. The base rate is 10.50% per annum on YES BANK. YES BANK always offers flexible EMI rates so it doesn’t become a heavy burden on customers.
|
Particulars |
Self-Employed |
Salaried |
|
Interest Rates |
Minimum 14% per annum. |
Minimum 14% per annum. |
|
Loan Amount |
Minimum -2 lakh Maximum – 20 lakh |
Minimum -2 lakh Maximum – 20 lakh |
|
Lowest EMI |
RS. 4,654 per month( Calculated for the lowest loan amount for the longest tenure allowed at the lowest interest rate available) |
RS. 4,654 per month( Calculated for the lowest loan amount for the longest tenure allowed at the lowest interest rate available) |
|
Loan Tenure |
Minimum 12 months Maximum 60 months |
Minimum 12 months Maximum 60 months |
|
Prepayment Charges |
No charges but prepayments only allowed after 12 months. 20% for 12 -24 months 20% for 24 – 36 months 25% for 36 – 48 months 25% for 48 – 60 months |
No charges but prepayments only allowed after 12 months. 20% for 12 – 24 months 20% for 24 -36 months 25% for 36 -48 months 25% for 48 -60 months |
|
Foreclosure Charges |
Foreclosure is allowed only post repayment of n12 EMI’S Within 12 to 24 months: 4% Within 24 to 36 months: 3% Within 36 to 48 months: 2% After 48 months : No charges |
Foreclosure is allowed only post repayment of n12 EMI’S Within 12 to 24 months: 4% Within 24 to 36 months: 3% Within 36 to 48 months: 2% After 48 months : No charges |
Benefit’s of YES Bank Personal Loan
- YES BANK doesn’t want any gurantor to give you this loan.
- The funds get disbursed within a hours of loan gets processed.
- Loans got approved in 60 secs.
- Applicant also can transfer their high cost personal loan to them in such lowest interest rate.
