Personal Loan from YES Bank
The YES BANK is a Service oriented Commercial Bank providing a complete range of products
,services, and technology-drivrn digital offering. The YES Bank offers fund for Personal
needs as a Personal Loan with exclusive features:
A discounted rate of interest from 10.99% onwards.
Flexible repayment option 12 to 60 months.
Quick online process and direct disbursal.
Representative example of Personal loan charges from YES Bank
|Rate of Interest
||11%@ reducing balance
|Flat per annum
|Processing fees 1%
|[Pre closure & other charges will be applied as per actuals]
Prominent feature of a Personal Loan from Yes Bank.
Loan amounts from ₹ 50k to ₹ 40 lakhs are offered as a Personal loans.
Repayment Tenure is offered for a Personal loan from 12 to 60 months.
The YES Bank provides a personal loan to customers employed is listed and open market companies.
The minimal CIBIL score required to apply is 720 points and above.
First-time Personal loan applicants without a CIBIL score are eligible to apply.
The method of repayment is by EMI(monthly equated installments)
Eligibility criteria for a Personal loan from YES Bank.
The YES Bank issues a Personal loan to all Indian citizens as per the following criterion:
The applicant must be above 21 years of age and can pay the EMI of the loan until 60 years.
Education qualification of graduation or above is required to be eligible to apply.
The application must be gainfully employed for more than two years and earn a net salary of
25k or more monthly.
The monthly salary must be credited directly to the salary account of the applicant.
The employer of the applicant must be registered as Limited, Pvt Limited, Government organization,
Applicant must have residence stability and live in self-owned or rented premises.
Advantages of a Personal loan from Yes Bank
A Personal loan from Yes Bank is Unsecured
Funds are given as personal loans without gurantees: the loan application is processed based on the customer's profile. No security such as gold or property is required to obtain funds as Personal loan.
End usage of a Personal loan
A Personal loan can be used for education expenses, wedding or celebrations, home renovation, Travel/vacation costs, and medical or emergency usage. The money can be used for personal reasons, not investment or any nefarious activities.
Convenient and flexible
The loan amount approved as a Personal loan is transferred conveniently to the applicant’s bank account in a single transfer. The repayment can be made via Equated monthly installments over a flexible tenure from 12 to 60 months.
Minimal Documentation Required
A Personal loan from Yes Bank is processed on behalf of documents readily available: these include KYC documents and proof of employment and income. The eligibility of the loan amount is based on the imcome proof submitted. The KYC documents proivide evidence of the applicant's stability and contact ability.
Quick, Hassle-free process
The YES Bank processes requests for a Personal loan in a streamlined and efficient manner. Loan seeker who require a loan urgently have the facility of receiving funds in their account within 48 to 72 hours of applying.
Personal Loan Charges from Yes Bank
|Rate of Interest
||10.75% to 22%
||.75% to 1.5%
||1% of the loan amount
|Part Payment Charges
||1% to 5%
|Pre closure charge
||Nil to 5%
Rate of Interest
The interest rate from YES Bank starts from 10.75% to 22% and is applied at a reducing the balance. The interest is charged as the net income of the applicant and the loan amount required. The slabs are as follows:
|25k to 35k
|35k to 50k
|50k to 75k
The processing fee is one-time file charge, a percentage of the loan ampunted disbursed. The cost is deducted from the loan and is not to be paid in advance; Charges are 0.75% to 1.5% of the loan amount, and discounts are given for increased loan amounts.
Pre-closure/Part payment charges
Customers wanting to pay back the loan amount or a part before the completion of the loan tenure can do so after 12 EMI have been repaid. Charges will apply from 2% to 4% of the paid amount.
Personal loan types from YES Bank
New Personal Loan
The YES Bank offers a Personal loan to first-time loan seekers with no previous CIBIL history. The net salary required in 25k or more transferred to the bank account. The applicant should have the required documentation proof to apply and meet the eligibility criteria requirements.
Personal loan Balance transfer
The YES Bank offers to take over the balance of the personal loan of applicants running their loans with other Banks. Benificial terms and discounted interest rates are provided for customers with a track record of timely repayments.
Conditions are that the EMI is being paid timely and the pre-closure terms of the parent Bank are met. After approval of the request, the YES Bank will pay the loan balance to the parent Bank via Bankers draft. A new loan will be structured with YES Bank, and an additional amount as a Top Up is also offered with a Balance transfer.
Personal loan Top Up
Personal Loan holders with YES Bank can apply for an additional amount when required as a "Top Up" to the exixting loan. A Top Up is granted after paying a minimun of 6 EMI: the applicant should be eligible for the extra loan and meet the required terms and conditions. After a Top Up is approved, the current loan is closed and a new loan account generated; this includes the principal balance of the existing loan with the Top up amount aaded.
YES, Bank requires personal loan documents
Identity/Age proof: Passport/ Driving license/PAN Card/ Voter’s card/ School or college leaving certificate.
Address proof: Passport/ Driving License/ Telephone bill/ Rent Agreement/ Electricity bill/ Pass Book and latest receipt of cooking gas refill.
Income proof: Salary Slips for the last three months.
Bank statement for the last three months with salary credits.
Continuity Proof: Form 16 for the last two years/ Appointment letter.