Yes Bank Personal Loan

If you face an urgent need of money for any miscellaneous purpose which could range from a travel expense to a medical emergency then you can opt for a personal loan from a government or private lender.

By definition, personal loans can be borrowed without any collateral. Besides, the money can be used for a slew of purposes such as construction of a house, buying a luxury item, spending on an event such as a marriage or a birthday and even to go on a vacation.

Here we discuss the process to borrow a personal loan from Yes Bank including eligibility criteria, interest rates, steps to follow and the documents that are required to be submitted.

Yes Bank offers personal loans at an interest rate of 10.99 percent to 20 percent per annum. For this, the private lender charges a processing fee of 2.5 percent of the loan proceeds and stamp duty and other statutory charges are as per applicable state laws.

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    Yes Bank personal loan characteristics:

    These are some of the key characteristics of taking personal loan from Yes Bank:


    1. Fast approval: You can check your loan eligibility in 60 seconds.

    2. Loan transfer: Borrowers are permitted to do easy transfer of high-cost personal loan from other banks.

    3. Prepayment option: They are also entitled to part pre-pay personal loan so long as they have paid 12 EMIs.

    4. Convenient online application: The loan process is quite convenient and one can apply for an instant personal loan through a user-friendly platform.

    5. Calculator: You can choose your loan tenure with a personal loan EMI calculator.

    Yes Bank Personal Loan Interest Rate Fees and Charges

    Yes bank charges an interest rate in the range of 10.99 to 20 percent per annum.

     

     

    These are the other charges and fee charged by the bank:

    Processing feeUp to 2.50 per cent of the loan amount
    Stamp duty & other statutory chargesAs per applicable laws of the state
    Repayment mode swap charges 750 per transaction
    Loan cancellation/Re-booking chargesRs. 1,000
    Repayment/amortisation schedule charges 750 per request (physical mode or via Branch)
    No objection certificateRs. 250 per certificate
    Statement of account 750 per statement
    CIBIL chargesRs. 50 per instance

    Documents required to raise personal loan

    These are the documents required to raise a personal loan:

    1. Proof of identity: A valid government-issued photo ID, such as Aadhaar card, passport, or driver’s license.

    2. Proof of address: Recent utility bills, rental agreement, or other documents verifying your current address.

    3. Income Proof: Salary slips, income tax returns, or bank statements showcasing your financial stability.

    4. Employment verification: Employment letter or proof of business ownership to establish your professional standing.

    5. Credit history: Credit report that highlights your credit worthiness and repayment history.

    6. Passport-sized photographs: A few recent passport-sized photographs.

    How to apply for personal loan:

    • At the outset, you need to create a suitable repayment plan based on your income and budget using the personal loan EMI calculator.

    • You can check your eligibility.

    • Get the documents which include application form, identity proof document such as passport, driving license, Aadhaar card, voter ID, an ID proof with the permanent address and income proof.

    • Visit the nearest branch or check online if you have any pre-approved offer available.


    In order to calculate personal loan interest rates online, you can use personal loan EMI (Equated Monthly Instalment) calculator. This offers convenience as well as transparency to borrowers. When you use the calculator, you need to enter your personal loan amount, repayment tenure, and other details. Once these details are entered, the calculator gives an estimate of the personal loan interest rate.


    Yes Bank Personal Loan EMI Calculator

    Loan Amount

    ₹10k
    ₹20 Lakh

    Rate of Interest

    %

    1%
    30%

    Loan Duration

    Months

    3 Months
    72 Months
    Monthly EMI
    ₹0
    Loan Amount:
    ₹10,000
    Total Interest:
    ₹0
    Total amount:
    ₹0
    Get Instant Loan Offer

    EMI Payment Schedule

    Month
    Principal Paid
    Interest Charged
    Total EMI Payment
    Loan Balance

    Other banks offer these interest rates on their personal loans:

    Banks/NBFCsInterest Rates (p.a.)
    IDFC First Bank10.99% onwards
    IndusInd Bank10.49% onwards
    Axis Bank10.40% onwards
    HDFC Bank10.50% onwards
    ICICI Bank10.80% onwards
    Kotak Mahindra Bank10.99% onwards
    Tata Capital10.99% onwards
    Federal Bank12.00% onwards
    DMI Finance12.00% onwards
    L&T Finance12.00% onwards
    Kreditbee16.00% - 29.95%
    MoneyTap13.00% onwards
    Piramal Finance12.99% onwards
    Aditya Birla10.99% onwards
    Moneyview15.96% onwards
    Cashe27.00% onwards

    Yes Bank Personal Loan FAQs

    There are several parameters which impact personal loan interest rates. These include your credit score, income stability, financial record, loan repayment tenure and amount. Banks even consider market scenarios and the current economic environment when determining potential rates for personal loans.

    The minimum salary required to be eligible for a personal loan is ₹25,000 per month.

    The loan tenure ranges anywhere from one to six years offering flexibility to borrowers. Flexibility in tenure enables you to select a favourable time frame based on cash inflow, interest rate and repayment capacity.

    In order to apply for a personal loan from YES Bank, one has to visit Yes Bank’s official website or branch. Then you can fill out the form and details and submit the required documents. Alternatively, one can also get in touch with the customer support system for help.

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