Yes Bank Personal Loan Eligibility Criteria

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.
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Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

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

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