YES Bank Personal Loan

Highlights

  • Apply for yes bank personal loan at an attractive interest rate of 10.99% - 16.99%

  • The loan comes with simple documentation and flexible tenure options

In the latest monetary policy meet held on March 24-27 2020, the RBI has decided to give a 3-month moratorium period for all outstanding loans as on March 1, 2020. Remember, this is not an EMI WAIVER. The move is in line with the economic pressures induced by the Coronavirus outbreak. So, this could mean some savings for you on your loan and help you deal with the likely situation of less or no income. Your credit score will not reduce if you don't pay the EMI. But doing so can raise your interest liability as banks would like to cover their losses, which is likely to be the case on deferred EMI payments, by increasing the interest component of the EMI after the moratorium period gets over. So, if you have the money, keep paying to reduce your interest liability.

Looking for a personal loan that comes to you at an attractive interest rate? Maybe YES Bank Personal Loan is the right option for you! This credit facility comes to you with plenty of attractive features such as lower interest rates and flexible repayment options. All that helps individuals meet their personal needs efficiently. Know more about the personal loan details below:

Personal Loan

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    Yes Bank Personal Loan Interest Rates

    ParticularsDetails
    Interest Rates10.99% - 16.99%
    Loan Amount₹2 lakh -₹20 lakh
    Repayment60 months
    Processing FeeUp to 2.50% of the loan amount subject to a minimum of ₹
    999/- plus taxes
    Foreclosure ChargesNIL-4% of the principal outstanding
    Pre Partpayment Charges1% on part payment amount paid
    Minimum Monthly Income₹25,000

    How Does Yes Bank Decide on the Personal Loan Interest Rate?

    It does on the basis of employer, loan amount and existing personal loan EMI, if any.

    Eligibility Criteria for Yes Bank Personal Loan

    To avail the personal loan from Yes Bank, you need to meet the below eligibility criteria.

    • Any salaried working with private or public limited company (Minimum 5 years MCA Vintage) can apply for the personal loan
    • Applicant must be between 23 and 60 years
    • Minimum net monthly salary should be ₹25,000
    • Other monthly expenses, including any current EMI :- 45% to 75% (FOIR)
    • Minimum total work experience of 2 years with at least 6 months in the current organization

    Yes Bank Personal Loan Documents Required

    • Identity Proof:- Passport/Driving License/Aadhaar/Voter ID.
    • Address Proof:- Aadhar Card/Gas Bill/Insurance Receipts/Companies Allotment Letter/Bank Statement/Valid Rent Agreement with E- bill/Address proof in the name of family member (Father, Mother, Son , Daughter, Sibling)
    • Income Proof:- Bank statements with 6 months salary credit and Salary slips.

    Yes Bank Personal Loan EMI Calculator

    Know the exact calculations of your EMIs with the help of an EMI Calculator. Yes, this smart, time-saving and effective tool allows you to know the exact amount of your monthly installments that you need to pay to your lender each month. To have a better understanding of the same, let’s consider the below example.

    Suppose Ragini Gupta is looking for a personal loan of ₹2 Lakh for a tenure of 5 years. Yes Bank is ready to offer her the same loan amount at an interest rate of 14% per annum, what would be the EMIs, interest outgo and total amount payable on the same? Let’s find out  in the table below.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 2,00,00014%1₹ 17,957₹ 15,489₹ 2,15,489
    ₹ 2,00,00014%2₹ 9603₹ 30,462₹ 2,30,462
    ₹ 2,00,00014%3₹ 6836₹ 46,079₹ 2,46,079
    ₹ 2,00,00014%4₹ 5465₹ 62,334₹ 2,62,334
    ₹ 2,00,00014%5₹ 4654₹ 79,219₹ 2,79,219

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 29,701₹ 26,142₹ 1,70,298
    2₹ 34,137₹ 21,706₹ 1,36,160
    3₹ 39,235₹ 16,608₹ 96,925
    4₹ 45,095₹ 10,749₹ 51,829
    5₹ 51,883₹ 4014₹ 0

    Features

    • No need for a collateral.
    • Flexibility in repayment – Tenure from 12 Months to 72 Months
    • Balance Transfer – Existing personal loan into Yes Bank at lower pricing.
    • Part Payment – Customers can repay upto 20% of the principal outstanding before tenure to reduce their interest amount.
    • Foreclosure/Pre-payment – Any time after the successful payment of the first 12 EMIs

    Yes Bank Personal Loan Application Status Check Online

    It is absolutely easy for you to check your Yes Bank status online. Open the website and login with your credentials, and soon after that, enter your loan application number. The moment you enter the number online and click on the ‘Track My Status’ button, the status will flash on the screen. This online facility helps you to check your status anytime. Whether it’s approved, pending or rejected, you can get to know each and every detail without any hassle.

    Yes Bank Personal Loan Customer Care Number

    In case you have any query, complaint or want to give any sort of suggestion or feedback, you can anytime get in touch with the customer care executives of the bank. All you need to do is just dial 1800 103 1212 either from your mobile or landline. These professionals are always there to help you and ensure the best services at all times.

    Yes Bank Personal Loan Preclosure Charges

    Are you someone who wants to pre-close his/her personal loan? If Yes, then you must know the charges applicable to it. Yes Bank charges up to 4% of the principal outstanding+GST at the time of closing the loan. With the help of this prepayment facility, you can actually end up repaying your loan before the original tenure, saving you from excessive interest payment.

    About Yes Bank Personal Loan

    Known as one of the largest private sector banks of India, Yes Bank caters to the needs of all with its exclusive line of products and services. The renowned bank is meeting the needs of many with best personal loan offers.

    Yes, through its quick, easy and reliable personal loans, you can easily fulfill all your personal requirements instantly. Moreover, whenever you are in need of extra funds, and looking for an easy solution, Yes Bank is ideal for you!

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    Kotak Bank10.99% - 20.99%
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    Standard Chartered Bank10.99% - 18.00%
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