Yes Bank was established on 2004 by Rana Kapoor & Ashok Kapur. Yes Bank is India’s fourth largest bank. Yes Bank has 1150 branches, 1800+ ATMs in India as on the 31st January 2019. In Mumbai & Maharashtra Yes Bank has its own headquarters.
Yes Bank Personal Loan Eligibility for self-employed and salaried
|Age Limit||25 to 58 years||25 to 58 years|
|Income Limit||–||Rs.18,000/month (minimum)|
|Guarantor||Not required||Not required|
|CREDIT Score||750 and above||750 and above|
|Minimum Loan amount||Rs.2lakhs||Rs.2lakhs|
|Maximum Loan amount||Rs.20lakhs||Rs.20lakhs|
|Tenure (Minimum)||12 months||12 months|
|Tenure (Maximum)||60 months||60 months|
|Rate of Interest||14%||14%|
|Processing Fee||Up to 2%||Up to 2%|
|Prepayment Charges||After 12 months, service tax+ 4% of outstanding principal||After 12 months, service tax+ 4% of outstanding principal|
Factors effects Yes Bank personal loan eligibility
- CIBIL Score– Yes Bank personal loan eligibility interest rate mostly depends on your CIBIL Score. If your CIBIL Score is high your yes bank personal loan eligibility will be high. Your credit score or cibil score stands for your past loan repayments. So if you have low cibil or credit score your Yes Bank Personal Loan eligibility will be lower and interest rate will be high. As personal loan is an unsecured loan so it already comes with higher interest rate.
- Job stability– If you have a stable job or business your yes bank personal loan eligibility will be higher for example if you are working on a repudiated with salary more than or same 25k there are huge chances that you can get personal loan with lowest interest rate, and if you are working in a non-listed company or un-employed your yes bank personal loan eligibility will be lower.
- Residence Place– Yes Bank has come with a list of places from where they will give personal loan and where they won’t. The negative list is for the behavior of the borrower from that place maybe they haven’t pay the loan correctly or anything else. Though yes bank consider a minimum 12 months of stability on your current residence which improves your Yes Bank Personal Loan eligibility criteria.
- Type of industry– Yes Bank also has a negative list of profession and type of industry that they won’t give any personal loan so your chances of Yes Bank personal loan eligibility make higher if you are employed in their positive listed companies.
DOCUMENTS REQUIRE to fulfill Yes Bank Personal Loan Eligibility Criteria
- KYC DOCUMENTS to fulfill Yes Bank Personal Loan Eligibility Criteria
- Pan Card
- Adhaar Card
- Voter’s ID
- Passport Size Photo
INCOME DOCUMENTS to fulfill Yes Bank Personal Loan Eligibility Criteria
- 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 to fulfill Yes Bank Personal Loan Eligibility Criteria
- 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) to fulfill Yes Bank Personal Loan Eligibility Criteria
- 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).