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YES BANK

If you face an emergency and need money immediately, then you can apply for a personal loan from YES BANK. It is a loan that is unsecured. You can get this loan for a short or medium-term, and it does not require any collateral. This loan can be used for a wide range of uses like buying furniture for your home, buying a car, taking a holiday, marriage in the family, renovating your home and a lot more. Anybody between the ages of 21 – 60 years can avail a personal loan from YES BANK. The loan is available to self-employed and salaried people.

Personal loans attract higher interest as compared to other types of loans. Depending on the credit profile of the borrower, the terms of the loan can vary from person to person.

YES BANK Personal Loan Interest Rate

FeeAmount to be repaid
Interest rate 10.75% -20% for salaried individuals
Loan processing charges10.99 to 2% of loan amount with applicable tax
Prepayment charges4% of the outstanding principal amount

Note: The above interest rates and other charges are subject to periodic review and change by the bank at any time.

Factors that affect YES BANK Personal Loan Interest Rate

Unlike secured loans, personal loans which are unsecured or collateral-free do not have a constant rate of interest. Many factors affect the rate of interest on personal loans. Some of these factors include

  • Credit Score
  • Net monthly income
  • Repayment history
  • Amount of balance in account

A few other factors may be considered at the time of application. However, interest rates usually fall between the ranges of 10.75% to 20% per annum.

Features and Benefits of YES BANK Personal Loans:

  • The flexibility of end use
  • You do not have to provide security or guarantor when you are availing a YES BANK personal loan
  • Flexible repayment options - you can choose the tenure convenient to you for repayment of YES BANK personal loan. With the help of the EMI calculator of personal loan you can easily determine the EMI you would be paying across different tenures and choose the one suitable for you.
  • Quick approval - The approval is quick within 60 seconds.
  • Quick disbursal of funds - Once the personal loan of YES BANK is approved, the funds are disbursed within hours.
  • Attractive interest rates - The interest rates of YES BANK personal loans are best in the industry and very competitive starting at 10.75%
  • Easy application process - The application process is easy, you can go to the website and fill in the application form for a personal loan, which is quick with basic documentation.
  • Part pre-payment option available - After 12 EMIs, you can opt to part prepay your personal loan of YES BANK
  • Transfer your existing loan - You can transfer high-cost personal loans to lower interest rates and also avail of more funds at the same time
  • Tailor-made YES BANK personal loans are available for different categories
  • Minimal documentation

Special Schemes of YES BANK Personal Loans

YES BANK provides customized schemes and personal loan interest rates to borrowers who are working in reputed companies, government institutions, banks, and others. Some of the personal schemes include a loan for meeting personal expenses and personal loan for meeting short-term requirements such as home renovation or marriage.

How to apply for a YES BANK personal loan?

The first thing to do before you apply for a YES BANK loan is to check your eligibility. You can do this by visiting the bank website and entering the required details. The application form also available on the bank website which must be filled in and submitted to the nearest branch of YES BANK. You can also get a form at the bank branch. The process is simplified if you are an existing account holder and KYC compliant. If not, you may be required to submit your KYC along with other loan related documents.

YES BANK Personal Loan Charges

It is important to know the charges applied to YES BANK personal loans. Apart from interest, YES BANK charges some processing fee for personal loans. While YES BANK allows foreclosure, a penalty of up to 4% is applicable for pre-closure of the loan account. Charges are also applicable in case the EMI cheque is not cleared. The bank provides every borrower a complete personalized schedule of charges for each loan.

YES BANK Personal Loan Interest Rate - FAQs

1. What is the minimum interest rate on a YES BANK personal loan?

The minimum rate of interest on YES BANK personal loan starts at 10.75%.

2. What is the lowest EMI on a personal loan from YES BANK?

The lowest EMI on a personal loan of Rs 1,00,000 is Rs 2,162.

3. How much time will YES BANK take to sanction a personal loan?

Loan sanction can be completed within a few hours or it may take a few days. A lot depends on the eligibility, documentation and other factors affecting the loan.

4. How much can a person borrow?

A person can borrow Rs 2,00,000 – Rs 25,00,000 depending on his repayment capacity and other factors affecting the loan.

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