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Yes Bank Personal Loan

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Yes Bank

YES BANK is India's fifth largest private sector bank, founded in 2004. YES Bank is the only Greenfield Bank license awarded by the RBI in the last one decade. YES BANK is a “Full Service Commercial Bank”, and has steadily built a Corporate, Retail & SME Banking franchise, Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country. YES BANK has banking network of over 600 branches and 2,000 ATMs giving it a major presence in urban India.

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What is a personal loan?

A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.

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

Advantages of YES Bank

  • Low interest rate
  • No hidden costs and administrative charges
  • Less paperwork
  • Long tenure
  • Minimum Income Requirement
  • Pensioners get attractive offers

With quick and easy Personal loans from YES BANK, you can now go ahead and treat your loved ones to that long-awaited holiday abroad or give your home a makeover. YES BANK Personal Loans allow you to fulfill your personal requirements instantly.

Key Highlights

Age21 years to 60 years
Maximum loan amountRs. 20 lakhs
Interest rate10.25% to 19.75%
Tenure60 months

Rate of Interest

Base Rate10.25% per annum, effective October 5, 2015
Prime Lending Rate19.75% per annum, effective July 26, 2011
MCLR Benchmark Tenure (Period)Benchmark Rates (MCLR)
1 month9.00%
3 months9.25%
6 months9.30%
1 year9.50%
Interest RateStarting from 11.49%

Loan Amount:

Up to Rs 20 Lakh

Loan Tenure: Min:

1 year and Max: 5 years

Processing Fee:

Up to 2% of the loan amount

Prepayment charges

Foreclosure of loan is not allowed up to payment of 12 EMI's. Thereafter 4% of Principal Amount + S.T.

Foreclosure Charges (Full Pre-payment)

  • 13 -24 Months of EMI Repayment -4%
  • 25 -36 Months of EMI Repayment -3 %
  • 37 -48 Months of EMI Repayment-2%
  • >48 Months of EMI Repayment -Nil

Eligibility Criteria

ParticularsBasic Eligibility/Requirement
Monthly Net SalaryMinimum 25,000/- in Hand (Net Salary)
Salary account with Yes Bank (Yes/No)Should have min 6 months’ salary account with Yes Bank
No of Yrs. in Current CompanyMinimum 6 Months
Total Work Experience (Employment)Minimum 2 years
No of Yrs. in Current Residence/Residence DetailsOwned – No Condition
Parental Owned – No Condition
Rented - Minimum 2 yrs. at current residence
ITR / Form 16For last 2 Financial Years
Loan Requirement /Minimum Loan Amount2 Lacs

Personal Loan FAQs

1. What are my loan limits?

Your personal loan limit would be determined by your income and repayment capacity. YES Bank offers two types of personal loans. They are Personal loan and Quick Loan.

2. Can my spouse income be included for calculating the loan amount?

Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.

3. Do I have to pledge some form of security?

In some cases, security is required.

4. What is the repayment schedule like?

The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.

5. What is EMI?

EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.

6. What is the processing fee? Are there any other charges?

There is no processing fee for Personal loan.

7. Do I have the option of choosing a fixed or floating rate for the loan?

You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).

8. How does YES Bank Personal loan compare with those offered by other banks?

There is total transparency with regard to the rate of interest and the fees charged by us.

YES Bank offers personal loans at the cheapest rates of interest, with no security or collateral

YES Bank offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty.

The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity.

With an YES Bank personal loan, you can choose between fixed rates of interest and floating interest rates.

9.How can I apply for the YES Bank personal loan?

You can either apply online or visit the nearest YES Bank loan centre for a personal loan.

10.Will there be any charges for prepayment towards my YES Bank personal loan?

There are no pre-payment charges levied towards the personal loan.

YES Bank Personal Loans Overview

YES Bank provides attractive interest rates on personal loans when compared to other lenders. Low interest rate with no hidden charges makes YES Bank personal loans a prospective and viable option for borrowing for your urgent financial requirements. With long tenure and part-prepayment, YES Bank personal loans do not impose much burden on the customers.

Customer Reviews

4 / 5 (291 Reviews)
6 Jan 2020

Product offers,Nice

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