YES Bank Personal Loan
YES Bank is one of the leading private sector bank which was founded in 2004 by Rana Kapoor and Ashok Kapur. The headquarter of YES Bank is located in Mumbai, Maharashtra. By 2015, the bank has a human capital base of 12,750 with a wide network of 900 pan India branches. Also, the bank has a balance sheet size of Rs. 1500 billion, an advance of Rs. 1000 billion and a deposit of worth Rs. 1250 billion. YES Bank operates in three forms- YES Bank, YES Asset Management Services and YES Capital. The bank caters to the varied needs of commercial banking, corporate finance, investment banking, retail banking, financial marketing, corporate and institutional banking.
YES Bank provides a simple and trustworthy banking experience to its customers. The bank offers various banking products like a Car loan, Commercial Vehicle loan, Home loan and Personal loan. Amongst them, YES Bank Personal Loan is the most popular one.
With the help of YES Bank Personal loan, you can overcome any financial liability which can arise at any point of time. YES Bank offers personal loan at competitive interest rates with the hassle-free loan approval process.
Why should you go for YES Bank Personal Loan?
To meet any immediate financial obligations, YES Bank Personal Loan is an ideal choice for you. It is an unsecured loan where you do not have to keep any security or collateral as a mortgage to the bank. Moreover, the bank offers competitive interest rate against the personal loan. Also, to apply for YES Bank Personal loan online, you need to submit minimum documents. To get the details of YES Bank Personal Loan eligibility, you can check online.
You can use YES Bank Personal Loan to satisfy any of your financial obligations such as- a medical emergency, renovating your home, buy any electronic gadget, finance a family wedding, fund a vacation and so on. So, you can use this loan to meet any short-term financial need. There is no limitation on the usage of the loan amount.
Following are some of the important points as to why you should go for YES Bank Personal Loan to meet your financial needs.
- YES Bank offers personal loan at a minimum interest rate of 10.75%* p.a which is quite low.
- There is no need of any security or collateral to keep with the bank against the personal loan.
- To apply for YES Bank Personal loan online, you need not have to go through lengthy paperwork. You only have to submit minimum documents.
- The loan approval and disbursal process of YES Bank Personal Loan is very quick and user-friendly.
- YES Bank offers flexible loan repayment tenure ranging from 1-5 years.
- To reduce your EMI, you can opt for YES Bank Balance Transfer facility.
Features Of YES Bank Personal Loan
YES Bank Personal Loan is an unsecured loan which satisfies the immediate financial needs of salaried individuals. The bank approves the loan depending on your net monthly salary, your current obligation, your credit history, and your repaying capacity. To check the details of YES Bank Personal loan eligibility and documents, you can go online.
Here are some of the features of YES Bank Personal Loan-
- When you apply for YES Bank Personal loan, the bank offers a fixed interest rate. There will be no change in the interest rate throughout the loan tenure.
- YES Bank does not take any security as a mortgage against the personal loan.
- To apply for YES Bank Personal loan online, you need to submit minimum documents.
- You can check online for YES Bank Personal loan eligibility and document details.
- For repaying the loan, YES Bank offers a flexible loan tenure of 12-60 months.
- You can easily transfer your existing personal loan to YES Bank. By doing so, you will enjoy low-interest rate on the personal loan.
Eligibility Criteria to apply for YES Bank Personal Loan
You can check YES Bank Personal loan eligibility online before you apply for the personal loan. Here, are the YES Bank Personal Loan eligibility criteria.
- To apply for YES Bank Personal loan, the minimum and maximum age limit must range between 22 and 58 years (at time of loan maturity) respectively.
- Your minimum net monthly salary must be Rs. 25,000 per month and above.
- You must be a salaried individual to apply for YES Bank Personal loan.
- You must reside for a minimum of 2 years in the current residential address.
- You must be an employee of the state, local, central government or private limited companies or public sector undertakings.
- You can apply for YES personal loan if you are a salary account holder of the bank or savings account holder.
- You can opt for YES Personal loan irrespective of whether you are an account holder of the bank or not.
- Your overall job experience must be at least 2 years and with the present employer, it must be at least 6 months.
- Your CIBIL Score must be above 750.
YES Bank Personal Loan eligibility is summarized in the tabular format.
|Minimum Salary||Rs. 25,000|
|Job Experience||Minimum 2 years|
|Current Job Emploment||At least 6 months|
|CIBIL Score||750 or above|
Documents Required for YES Bank Personal Loan
To apply for YES Personal loan, you need to submit minimum documents. Here is the list of YES Bank personal loan documents.
- YES Bank Personal loan application form.
- Passport size photographs (at least 2 photos)
- ID Proof- Voter Card, AADHAR Card, PAN Card, Passport. (you have to submit any one of the above-mentioned documents)
- Residential Proof- Utility Bills like Gas or Electricity bill of not more than 3 months old, Passport, Leave and License Agreement. (you have to submit any one of the above-mentioned documents)
- Updated Bank Account Statement of last 3 months (where your monthly income is credited)
- Salary slip of last 3 months.
- Form 16 of last 2 years.
- Copy of IT Return of last 2 years.
YES Bank Personal Loan Interest Rates
When you apply for YES Bank Personal Loan, the bank offers attractive interest rates. Here are the details of YES Bank Personal Loan rate.
YES Bank Personal Loan Details
|Rate Of Interest||10.75%*|
|Loan Amount||12-60 months|
|Loan Tenure||Rs. 1 lakhs- Rs. 20 lakhs|
|Processing Fees||Up to 2.50%|
YES Bank Personal Loan Fees & Charges
Along with YES Bank Personal Loan interest rates, the bank charges some other fees. Here is the list of YES Bank Personal Loan charges.
|Types of Charges||Amount Charged|
|Processing Fee||From 0.99% to 2.50% of the personal loan amount which is subject to a minimum of Rs.999 plus GST.|
|Charges on Late EMI Payments||24% per annum on the outstanding amount from the default date|
It is charged post your 12 EMIs repayment.
Salaried individual- more than 48 months- Nil Charges, 37-48 momonths- 2% of principal outstanding, 25-36 months- 3% of principal outstanding, 13-24 months- 4% of principal outstanding.
|Pre-part payment Charges||
It is charged post your 12 EMIs repayment.
For 12 to 24 months- 20% of the principle outstanding
For 25 to 36 months- 20% of the principle outstanding
For 37 to 48 months- 25% of the principle outstanding
For 49 to 60 months- 25% of the principal outstanding
|Charges for Cheque Bounce||Rs. 750 per cheque bounce plus tax|
|Charges for Loan Cancellation||Rs. 1000 plus tax (You need to pay both the interest rate and cancellation charges)|
|Charges for Statement Account||Rs. 750 for each schedule|
|No Objection Certificate||Rs. 250 for every event|
|Duplicate Repayment Schedule||Rs. 750 for each schedule|
YES Bank Personal Loan EMI Calculator
To repay YES Bank Personal Loan, you need to pay an amount as an EMI. EMI is simply Equated Monthly Instalments. So, to get the details of EMI online which you need to pay in the future, you can use Personal Loan EMI Calculator.
With the help of online Personal Loan EMI Calculator, your evaluation of EMI will become very easy and time-saving. So, not only your access to personal loan becomes handy, your online EMI calculation with Personal Loan EMI Calculator also been quite easy. In order to calculate your EMI with the help of Personal EMI Calculator, you need to provide the following details-
- Loan Tenure
- Your personal loan amount
- Rate of Interest on the personal loan
What are the factors which affect YES Bank Personal Loan EMI?
Here are some of the factors which affect YES Bank Personal EMI.
There is an inverse relationship between the EMI amount and the loan tenure. If you opt for a longer loan tenure, your EMI will reduce accordingly. As the principle and the interest rate gets divided over a higher number of months. But with higher loan tenure, your monthly EMI burden reduces whereas you might pay more over the loan duration.
It is one of the most important factors that affects the EMI for YES Bank Personal Loan. Your credit score reflects your repayment history and current obligations (if any). A good credit score of 750 and above makes you eligible for YES Bank Personal Loan.
Some of you opt early pre-payment option to repay the personal loan. You can easily pre-pay your loan which reduces your EMI for the loan tenure of YES Bank Personal Loan. When you have decided to pre-pay your loan, make sure to do it in the early months of the loan tenure. This is because your principal amount decreases which help you to save the interest rates on your later payments.
Relation with YES Bank
Your EMI amount depends on your relationship with YES Bank. If you and bank share a good cordial mutual relation, then the bank can offer good terms for your personal loan. Also, if you are an existing customer of YES Bank and have a good repayment history, then you can get a good deal for the loan.
Individuals with stable job are expected of high capability to repay the loan. But if you switch from one job to another within a very short period of time, then you are not considered stable to repay your loan which affects the EMI in a negative way.
Benefits of YES Bank Personal Loan
Here are some of the benefits of YES Bank Personal Loan-
- YES Bank offers minimum interest rates starting from 10.75%* on personal loan.
- When you are applying for YES Bank Personal loan, you have to submit minimum documents. So, there is no complicated paperwork involved making the process of loan approval easy.
- You can utilize YES Bank Personal Loan to meet any of your financial liability such as- finance your education, expand your business, organize a big celebration event for any festival, buy a two-wheeler or four-wheeler and the list is endless. There is no limit to the use of personal loan.
- As you know, YES Bank Personal loan is an unsecured loan. The bank doesnot take any security as a mortgage against the personal loan.
- To repay the loan amount, you can pay a certain amount on a monthly basis commonly known as EMI. With the monthly repayment procedure, you do not have to bear a huge monetary burden to repay your loan./li>
- YES Bank offers a flexible loan repayment tenure of 1 to 5 years. Within these time period, you can easily pay off your loan.
- You can apply online for YES Bank Personal Loan.
- When you are applying for YES Bank Personal Loan online, the bank eases up the procedure and makes your loan approval and disbursal process very quick and hassle-free.
- To get in the details of YES Bank Personal Loan eligibility and documents, you can check online.