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About YES Bank Personal Loan

A personal loan is a loan that you can borrow from any bank or a Non-Banking Financial Company (NBFC) to fulfil your personal needs or to meet unexpected emergencies.

Personal loans are offered to meet various purposes. You can utilize personal loans to fund a vacation, home renovation, your dream wedding, higher studies or for any unexpected medical emergencies. Personal loans are called “unsecured loans” and usually do not require any collateral. Due to this, the interest rates on personal loans are usually higher compared to other secured loans like home loans, car loans or gold loans.

YES Bank offers various loan products to its customers to meet their financial needs. YES Bank Personal Loan is a popular product amongst customers due to its attractive interest rates and flexible repayment terms.

How to Apply for Yes Bank Personal Loan

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How to Apply for Yes Bank Personal Loan - Low interest rate, No hidden costs and administrative charges, Less paperwork, Long tenure, Minimum Income Requirement, Pensioners get attractive offers. CreditMantri offers you the best personal loans matched to your credit profile. Create your credit profile, know where you stand on your credit and apply for loans and credit cards that are right for you. Disclaimer: The information presented has been collated from publicly available sources on the internet. CreditMantri is not responsible for any changes in the same.

Why should you choose YES Bank Personal Loan?

  • Avail personal loans starting from Rs.1 lakh up to Rs.40 lakhs
  • Get repayment tenure of 12 – 60 months for a comfortable monthly EMIs. Customers are urged to utilize the Personal Loan EMI Calculator available on the YES Bank website to calculate their tentative monthly EMI amount before opting for the tenure on their personal loan.
  • Collateral free personal loans to help you get the much needed finance for any emergencies
  • Get in-principle approval in less than a minute. Customers can check their eligibility using the Personal Loan Eligibility Calculator and also get an in-principle loan approval through the YES BANK mPower Bot in just 1-minute.
  • Funds are disbursed within a few hours once the loan has been processed and approved. This helps you to get your hands on the funds very quickly to meet your expenses.
  • Get one of the best interest rates in the market. YES Bank Personal Loans come with low interest rates starting at just 10.99%.
  • Speedy Approval of your loan within 5 business days of application submission, provided that all the relevant documents have been submitted, provided that all the relevant documents have been submitted.
  • Apply online – YES Bank has a user friendly website that guides you and allows you to apply for a personal loan completely online. It also requires just some basic documentation.
  • Doorstep Banking – With the current pandemic, YES Bank has made arrangements for door step banking. You can complete the application formalities and documentation process from the convenience of your home. An authorized bank executive will come to your home and complete all the due processes required.
  • Net Banking & Mobile Banking to manage your loan account; You are given Netbanking and Mobile Banking to manage your loan account, pay EMIs and other account related services.
  • Loan transfer from other banks – YES Bank offers lower interest rates for personal loans you transfer from other banks. You can also avail top-up amount while transferring your loan.
  • Part Pre-payment options are available. This is one of the best features for a personal loan. YES Bank allows you to make part pre-payments towards your personal loan account so that you can reduce your interest burden. You can make part pre-payments once you have made 12 EMIs.

An Introduction to YES Bank Personal Loans

Being one of the largest bank in India, YES Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by YES Bank.

Apply Yes Bank Personal Loan

Types of Personal Loans available from YES Bank

YES BANK's Personal Loan for Holiday

Don’t let your financial chomp stop you from going on that dream vacation.

A YES BANK Personal Vacation loan helps to cover most of your expenses including flight tickets and hotel costs. Based on the loan amount, you can even include the cost of travel accessories.

YES BANK’s Personal Loan for Weddings

Nothing should come in the way in making your ‘Dream Wedding’ a reality. YES BANK’s Personal Loan for Wedding makes sure that you don’t face any shortage of funds on your big day. This loan can include various expenses like jewelry, clothing, catering, decoration and more.

YES BANK’s personal loan for Home Renovation

If you are planning to redecorate or refurbish your home to make it more cozy and comfortable for your loved ones, this loan is for you. Visit the bank’s website for more details on the various offers for Home Renovation personal loans.

What are the eligibility criteria to avail an YES Bank Personal Loan?

The eligibility for an YES Bank personal loan depends on various factors like age, income, other existing liabilities, employment details and the number of years in the current residence.

Age Criteria: Minimum 21 years up to a maximum of 60 years

Documentation to apply for YES Bank Personal Loan

YES Banks ensures that your Personal Loan is processed quickly and efficiently with hassle-free documentation without any collateral or guarantors. You just need to make sure that you submit all the required documents to ensure a quick application processing.

  • Application form
  • Identity proof (passport, driving license, Aadhaar card, voter ID)
  • Address proof
  • Income Proof – Your salary slips for last 3 months

Please make sure that you provide all genuine documents. YES Bank will verify the authenticity of these documents at any point of time.

How to apply for YES Bank Personal Loan?

You can apply for the YES Bank Personal Loan online on the official website or at your nearest YES bank branch. Here is a simple guideline to apply for the loan:

  • Calculate your loan requirement. You should first determine the amount of money you will require and the repayment plan for the same.
  • Find out your personal loan eligibility. You can make use of the YES Bank Personal Loan Eligibility Calculator available on the website.
  • Once you have determined your eligibility, click on the Apply Now button on the website to initiate the application process.
  • An authorized representative from the bank will contact you to complete the application process. You will be required to submit the relevant documents.
  • Once you have submitted all the necessary documents, the loan will be processed and approved in 5 days. Upon successful approval, get the funds in your bank account within a matter of hours.

YES Bank Personal Loan – Rates and Service Charges

Loan Processing Fees

Up to 2.5% of the loan amount subject to a minimum of Rs. 999 plus taxes

Foreclosure Charges

Between 13-24 months – 4% of Principal Outstanding
Between 25-36 months- 3% of Principal Outstanding
Between 37-48 months- 2% of Principal Outstanding
More than 48 months- NIL

Part Pre-payment Charges
Part Prepayment can be done only once a year.

Amount received as part payment will be adjusted against the principal outstanding.

No. of EMIs will be reduced, EMI Amount will remain same for remaining tenure.

2%  with applicable taxes on the part prepayment amount 

Duplicate No Dues Certificate / No Objection Certificate (NOC)

Rs. 250 per instance

Charges for late payment of EMI

24% per annum on amount outstanding from the date of default

Stamp duty and other statutory charges

As per applicable state laws

Cheque swapping charges

Rs.750 + taxes per instance 

Cheque bounce charges

Rs.750 + taxes per instance 

Loan cancellation/ Rebooking charges

Rs.1000 + taxes

Legal/ incidental charges

At actual

Duplicate repayment schedule charges

Rs.750 per instance

Statement of account charges

Rs.750 per instance

YESBANK Personal Loan FAQs

1. What is the best rate of interest I can get on my YES Bank personal loan?

The interest rate charged for a personal loan from YES BANK is determined by a number of factors, including age, income, employment status of the customer. However, YES BANK provides some of the most competitive interest rates available in the market, beginning from just 10.99%. Usually, the lowest interest is applicable to salaried individuals.

2. What is the maximum loan amount I can get as a personal loan?

YES Bank offers personal loans starting from Rs.1 lakh up to Rs.40 lakhs.

3. How long do I get to repay the personal loan?

YES Bank personal loans come with tenures ranging from 12 months to 60 months to give you a comfortable repayment.

4. Can I make part payment on my personal loan?

Yes, you can make part pre-payments on your personal loan. However, this can be done only after you pay at least 12 EMIs. There are also some charges levied for part pre-payments. Check with the bank for the relevant charges before you exercise this option.

5. How can I know how much personal loan can be availed?

To help you with this, YES Bank has the YES Bank Loan Eligibility calculator. This is a chatbot that will ask you for some basic information like age, income and location and give you an approximate loan eligibility amount. This will help in your decision making.

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