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Introduction

YES Bank is a private sector bank in India that has grown to reach every corner of the country. It provides banking solutions to millions of Indians as well as many customers abroad. YES Bank has many products and services that range from loans, credit cards, deposits, corporate banking solutions, NRI banking, digital banking and much more. The customers of YES Bank are catered through an extensive network of about 1000 branches across the country. It has set up special branches for women and Small and Medium enterprises.

YES Bank was recently in a very grave situation where the future of the bank was in jeopardy. Millions of customers across the country were in the position to lose their life savings due to extensive bad loans that the bank had piled up and massive fraud at the top management of YES Bank. The Reserve Bank of India at this stage took over the control of the Bank and restructured the Board of the Bank to safeguard the interest of the customers. The State Bank of India has a huge stake in the bank today and along with many other big investors has infused huge sums of money to ensure that the bank does not collapse.

YES Bank has many loan options and customers can repay these loans with easy repayment options. Following are the details related to the repayment of Loan of YES Bank.

How does loan repayment work?

Loans taken from any bank have to be repaid within the tenure of the loan. Customers have to first furnish the margin money in many cases for securing the loan. Margin money is the percentage of loan that is sanctioned by the bank to be paid by the customers in case of loan for purchasing a vehicle or home.

Customers are also liable to pay a penalty in case of a default in paying the EMI. The rate of default is different depending on the lender. Default in repayment of loan also affects the credit score of the customer. Customers in default find it difficult to get more loans or loans at better rates if their credit score is affected.

Loans are one of the most profitable products of a bank. Banks utilize the public money by providing loans to feasible and profitable avenues or persons and earn interest on the loans given.

YES Bank Loan Repayment Process

Yes Bank loan repayment process is very simple and can be executed easily. Customers can repay the loans using online as well as offline modes.

The loan amount has to be repaid in EMIs (Equated Monthly Installments). The amount of EMI depends on many factors. Some of these factors include the loan amount, margin money paid, rate of interest and loan tenure.

The offline loan repayment usually options include post dated cheques. The online payment options are many and varied. Customers can pay the EMIs online through net banking, ECS, auto debit through a notified bank account, credit cards, etc.

Repayment Schedule of Personal Loans in YES Bank

Yes Bank has a loan repayment calculator that enables the customers to get an estimate of the EMI to be paid regularly. It is a hugely helpful feature of the bank that helps the customers get a fair idea of the EMI to be paid so they can plan their expenses accordingly. Repayment Calculator can be used by filling the basic parameters to calculate the repayment to be made of the loan taken. The parameters needed to for repayment calculator are mentioned below

  • Loan Amount
  • Tenure
  • Rate of Interest 

Repayment calculator can be used to calculate the estimated repayment for home loans, personal loans, vehicle loans or any other loans provided by the Bank.

Repayment Schedule of Personal Loans in YES Bank

Personal loans are the easiest forms of loans that can be availed from any bank. Customers can avail personal loans for many reasons ranging from medical emergency to personal expenses like wedding expenses, home repairs and renovation, travel or any other expenses that can be covered under the ambit of personal loans.

Yes Bank provides attractive personal loans to individuals at reasonable rates starting from 10.99%. The minimum amount of personal loan that can be availed by a person is Rs. 1,00,000 to a maximum amount is Rs. 40,00,000.

The repayment tenure offered by YES Bank is a minimum of 12 months or 1 year to a maximum of 60 months or 5 years. Customers can repay the loan taken in flexible options and can select the best repayment schedule that can be suitable based on their needs repayment capacity.

Repayment Schedule of Home Loans in YES Bank

Home Loans are provided by YES Bank to the customers for purposes like buying a new home, construction of a new home, home improvement loan etc. The various types of homes loans provided by YES Bank are,

  • Home Purchase Loan for purchase of a new home or property
  • Self-Construction Loan for construction of house on plot purchased or already owned.
  • Home Improvement Loan for repairs and renovation of a house
  • Home Loan Top Up which helps in getting additional home loan at attractive rates
  • Home Loan Transfer where customers can get their home loan transferred from another bank or Financial Institution to YES Bank.

Home loan of YES Bank can be availed for a maximum of Rs. 5,00,00,000. The repayment tenure of YES Bank is on the higher side as compared to other banks and financial institutions. The total tenure of YES Bank for Home Loan that can be available to the customers is 35 years.

Customers can choose comfortable repayment tenure for their home loan too. The repayment schedule can be flexible depending on the repayment capacity of the borrower as per their convenience with customized repayment schedules for self-employed persons.

Repayment Schedule of Vehicle Loans in YES Bank

The vehicle loan of YES Bank includes a car loan as well as a two wheeler loan. The repayment tenure for two wheeler loans is up to a maximum of 5 years (60 months) and a minimum of 1 year (12 months). Customers can also avail part payment options to repay the loan. The total amount of loan available under two wheeler loans is Rs. 25,00,000.

Car Loans of YES Bank can be availed for up to 100% of the value of the vehicle. Customers can get loans for new cars as well as used cars. The maximum amount of loan that can be granted under the Vehicle loan of YES Bank is Rs. 5,00,00,000. YES Bank provides tenure of up to 84 months or 7 years to repay the car loan taken which is longer when compared to most lenders available in the market. YES Bank provides flexible repayment options like Step-Up EMI or Balloon Schemes.

Repayment Schedule of Gold Loans in YES Bank

Gold loan is another loan feature of YES Bank. Customers can get loans against the deposit of gold which is used as the collateral for providing such loan. These loans can be availed on the same day of application at a processing fee of 0.49%, provided that all the relevant documents and application forms are duly provided and filled and the applicant is an eligible borrower.

Gold loans of YES Bank can be repaid in a maximum tenure of 36 months. The minimum repayment schedule for the gold loan of this bank is 3 months. The rate of interest on such loans starts from 12% per annum. Customers can get loans starting from Rs. 25,000 up to Rs. 50,00,000 under Gold Loans of YES Bank with no need to provide any additional guarantor or collateral with flexible repayment options like Servicing of interest or Interest with Principal. Loans can be repaid through multiple options like net banking, DD, cheques, auto debits, etc.

Repayment Schedule of Business Loans in YES Bank

The business loans of YES Bank are the unsecured retail business loans that can be provided to professionals or non-professionals. These loans can be availed collateral free for the purpose of meeting working capital needs, purchasing of new equipment, machinery, raw materials or for expansion of the business.

The maximum loan granted to a person under this loan scheme is Rs, 50,00,000. The repayment tenure of these loans is for a minimum period of 12 months to maximum period of 60 months.

FAQs

1. Can a person prepay the car loan availed from YES Bank?

Yes. Customers can prepay the car loan taken from YES Bank after completion of 6 months from the date of availing the loan.

2. Is part payment of personal loan free of charge?

Customers can make part payment of the personal loans taken only after completing 12 EMIs. This facility of part payment is available at a nominal charge levied by the Bank.

3. Does gold loan at YES Bank require additional collateral or guarantor?

No. Additional collateral or guarantor is not required for getting a gold loan.

4. What is the tenure of car loans of YES Bank?

The tenure of car loan of YES Bank is up to a maximum of 7 years or 84 months.

5. What is the maximum loan amount available under Home loan of YES Bank?

The maximum amount of loan under Home loan of YES Bank is Rs. 5,00,00,000.

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