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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:
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 need extra funds, and looking for an easy solution, YES BANK is ideal for you!
YES BANK Personal Loan Interest Rates January 2022
|Interest Rates||10.70% Onwards|
|Loan Amount||INR 1 lakh - INR 50 lakh|
|Processing Fee||INR 2499*|
|Pre Partpayment Charges||2% on part payment amount paid|
|Minimum Monthly Income||INR 15,000|
|Applicant Age Required|
Note – The processing fee and part prepayment fee will also include taxes as applicable
Criteria for Getting the Lowest YES BANK Personal Loan Interest Rate
Here, in the below mentioned table, you will be able to see the minimum Net Take Home (NTH) salary required with the interest rates applicable and processing fees as per your profile.
|Corporate Category||Net Salary (INR)||Rack IRR||Rack PF|
|Diamond Plus/Diamond/Gold Plus/Silver Plus/Salaried Doctors||125000+||10.99%||1.25%|
|Platinum/YBL Staff||ALL||12.49%||INR 1499/-|
|Care Profile as define in Policy||ALL||15.25%||2.50%|
Note – GST to be collected over and above the Processing Fees mentioned.
Balance Transfer Rate January 2022
YES Shift 2 Happiness Offer
|Product Offer-BT Cases||Customer Profile||Loan Amount (in lakhs)||IRR||PF|
|Yes shift 2 Happiness PLUS Offer( For Selective Financiers only*)||Diamond PLUS/Diamond/SARKAAR/GURU/Staff corporate customer and transferring loan (from selective financiers only*).||>=20.00||10.70%||INR 7999/-|
|>=10.00 - 20.00||10.75%||Rs 9999/-|
|>=5.00 - 10.00||10.99%||1.00%|
|Yes Shift 2 Happiness Offer(for all other financiers)||Diamond PLUS/Diamond/SARKAAR/GURU/Staff corporate customer and transferring loan from non-selective financiers.||ALL||2% lower than existing rate (YES BANK applicable rate should not be lower than 10.99%)||1.15%|
|Gold PLUS/Gold/Silver/SARKAAR/GURU and all other corporate category/scheme customers and transferring loan from both selective and non selective financiers.||>=10||For multiple loan takeover, the minimum rate of all loan to be considered as existing rate||1.15%|
YES BANK Special Category Offer
|Special Category/Segment||Type of cases||Minimum Net Take Home Salary (NTH)||IRR (In %)||PF (Processing Fees)|
|Yes Bank Staff (YBL)/ Yes Securities Staff (YSL)||Fresh and Balance Transfer||>= 30,000 NTH/Month||10.70%||INR 1499/-|
|OTHER Bank Employees||Balance Transfer||All||10.75%||1.15%|
|PERSONAL LOAN WINBACK for YBL Liability and Asset Relationship Customers||Balance Transfer||ALL||10.75%||1.15%|
|Salaried DOCTORS||Fresh and Balance Transfer||ALL||10.75%||1.15%|
|PHARMA Companies||Fresh and Balance Transfer||ALL||10.75%||1.15%|
Personal Loan Ultra Edge and Golden Edge Offer
|Product Offer||Customer Profile||Loan Amount (In Lakhs)||IRR (In %)||PF||Foreclosure Offer (FC)|
|YES ULTRA EDGE||Diamond PLUS/ Diamond/ SARKAAR/ GURU/YES Private/ Platinum (Staff) customers with Net Salary per Month >= 75,000/- |
|>= Rs. 7.50||10.70%||INR 4999/-||NIL FC post 12 months [Subject to closure from own funds only] |
(Annexure to be added and notepad to be updated as per the process)
|YES GOLDEN EDGE||Diamond PLUS/Diamond - Customers with Net Salary per month >=75,000/- (Customers not qualifying under Ultra Edge Segment)||>=20 Lakh|
|15 Lakh -19.99 Lakh|
|10 Lakh - 14.99 Lakh|
|Gold PLUS/Gold - Customers with Net salary per month >=75,000/-||>=20 Lakh||10.99%||0.99%||NA|
|15 Lakh - 19.99 Lakh||11.49%||0.99%|
|10 Lakh - 14.99 Lakh||11.75%||0.99%|
|Silver - Customers with Net Salary per Month >=50,000/-||>=20Lakh||11.25%||0.99%|
|15 Lakh - 19.99 Lakh||11.49%||0.99%|
|10 Lakh - 14.99 Lakh||11.99%||0.99%|
|5 Lakh - 9.99 Lakh||12.25%||1.25%|
Details on Maximum Personal Loan Amounts
YES BANK has several personal loan variants – Platinum, Personal Plus, Diamond and Diamond plus, Gold, Gold Plus and Silver, Sarkaar, Guru and Vijay. Check out the table below to know the maximum loan offered against each of the variants.
|Personal Loan Variants||Maximum Loan Amount|
|Platinum||INR 15 Lakh|
|Personal Plus||INR 20 Lakh|
|Diamond Plus, Diamond||INR 15 Lakh|
|Gold, Gold Plus and Silver Plus||INR 10 Lakh|
|Sarkaar, Guru and Vijay||INR 12 Lakh|
FOIR Used by YES BANK to Assess Personal Loan Eligibility
YES BANK uses different Fixed Obligation to Income Ratio (FOIR) for people having different incomes. Simply put, it is the percentage upto which the EMI is allowed from your income. While ascertaining the personal loan EMI, existing obligations, if any, and the proposed obligation will be deducted from the net monthly income to assess your eligibility. Check the FOIR used by YES BANK for different incomes and across its personal loan variants.
|Category||Monthly Income (>35k)||Monthly Income (<=35k)||Bureau -1/<680|
(ETB/<700(NTB)) irrespective of Income
|Yes Sarkar/Yes Guru/Yes Vijay||75%||65%||50%|
|Gold Plus/Gold/Silver Plus||70%||60%||50%|
Your Monthly Income is – INR 40,000/- Applicable FOIR will be of 65% (If you fall in Silver Category)
Your FOIR Income will be 26000 (40000*65%)
Then will deduct the obligation from FOIR income, for example your obligation is of INR 3000
Your Net Income will be considered as INR 23000 (26000-3000) based on which your eligibility will be calculated.
Based on your net income you will be eligible for the loan amount of 7.6 Lac approx.
Multipliers (no linkage to tenor period)
|Yes Sarkar/Yes Guru/Yes Vijay||15||20||22||26||30|
|Gold Plus/Gold/Silver Plus||15||20||21||22||24|
Your Monthly Income is INR 40000 and Obligation is of 3000
Net Income = INR 37000 (40000-3000)
Now multiplier will be calculated based on your income after deducting obligation which is INR 37000
Based on the same your Multiplier will be 22 (if you fall in platinum category)
Loan amount Eligibility – INR 814000 (37000*22)
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 22 and 60 years
- Minimum net monthly salary should be INR 15,000/INR 30,000/INR 35,000 (basis on the location and the profile of the customer)
- Other monthly expenses, including any current EMI:- 55% 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:- Aadhaar 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:- 3 months bank statement reflecting salary credits and latest 2 month salary slip. If latest month pay slip is not available then same is acceptable if salary credit is reflecting in bank statement
- Residence Ownership Proof – If income < 50k and residence stability is < 6 months (Ownership proof can be in the name of Self/Spouse/Parents/Father-in-law/Mother-in-law)
Other Important Parameters to Keep in Mind
- CIBIL Enquiries of INR 1 to INR 10 will not be treated as inquiries
- CPV waiver as per existing guidelines
- Required CIBIL Score >=680/-1 if existing YBL customers or >=700/-1 if New to YBL customer
- Disbursal in Non-salary Account allowed if salary credits in Payment bank/ECS/NACH cannot be registered
- First EMI payment from Non-Salary account can be accepted if NACH/ECS is obtained from salary account for future installments
- All salaried doctors to be appraised as per Diamond category irrespective of Hospital Category.
YES BANK Personal Loan 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 INR 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 Amount||Interest Rate||Tenure||Monthly Instalment||Total Interest Amount||Total Amount|
|₹ 2,00,000||14%||1||₹ 17,957||₹ 15,489||₹ 2,15,489|
|₹ 2,00,000||14%||2||₹ 9603||₹ 30,462||₹ 2,30,462|
|₹ 2,00,000||14%||3||₹ 6836||₹ 46,079||₹ 2,46,079|
|₹ 2,00,000||14%||4||₹ 5465||₹ 62,334||₹ 2,62,334|
|₹ 2,00,000||14%||5||₹ 4654||₹ 79,219||₹ 2,79,219|
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|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|
How to Apply for YES BANK Personal Loan at Wishfin?
Now knowing so many details about Yes Bank Personal Loan, you must want to know how you can apply for YES BANK Personal Loan through Wishfin? Well! the process is quite simple.
You can apply Yes Bank Personal Loan online through Wishfin from anywhere from the comfort of your couch. You will only need a laptop or mobile and an internet connection. There are few simple steps that you need to follow. Kindly go through below mentioned steps-
- Visit the official website of Wishfin (www.wishfin.com). You will see the ‘Personal Loan’ section, click over there.
- Now select ‘Apply Now’ and you will be redirected to the Application form where you need to fill-in some of your Personal and Professional details such as your name, email address, phone number, pin code, monthly Net Take Home (NTH) salary, and the required loan amount. After filling these details, submit this application form.
- After this, the customer representatives will have a quick chat/call with you and process your application.
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 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 with applicable GST charges 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.
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.
Features of YES BANK Personal Loan
- No need for collateral – While applying for a YES BANK Personal loan, you don’t need to submit any kind of collateral or security against the loan amount you get. As there’s no collateral required, you can access the loan quickly in your account.
- Flexibility in Repayment – Repayment is an important part of the YES BANK personal loan facility. YES BANK provides you a flexible repayment tenure ranging from 12 months to a maximum of 60 months. You can choose the tenure according to your repayment capacity and monthly income. The repayment can be made via the easy monthly instalments. An applicant can also have the pre-estimate about the EMI amount with the help of the YES BANK Personal Loan EMI Calculator. This will help you in managing your finances in an organized way.
- Balance Transfer Facility – Already paying the personal loan somewhere but at a rate higher than what YES BANK charges? You can easily avail of the YES BANK balance transfer facility at lower interest rates. This brings down the monthly EMI while also reducing the interest obligations over time. The process of balance transfer is easy, all you need is to submit a balance transfer request to YES BANK, which will then ask you to get a No-objection Certificate (NOC) as well as the loan statement from the existing lender. YES BANK will check the repayment track and approve the deal if it is smooth.
- Part Payment Facility – If at any point in your tenure, you want to part-pay the outstanding principal amount, you can do it with the part payment facility. This will help reduce the interest burden off your pocket . You will need to pay the remaining amount as per the fixed schedule. Charges will apply at 2% of the part payment amount.
|Pre Part Payment Clause||Part Payment of loan is allowed post repayment of 12 EMI’s|
|Terms of Pre Part Payment||Part Payment can be done only once a year|
- Foreclosure/Prepayment Facility – With the help of YES BANK personal loan facility, you can also foreclose or make the full payment of your principal outstanding amount after one year of your loan. It means that you can opt for this facility any time after the successful payment of the first 12 EMIs. Charges will apply if you prepay before 48 months. The foreclosure or prepayment charges range from Nil to 4% of the outstanding principal amount.
- Quick Disbursal of loan funds – Once your YES BANK personal loan has been processed and sanctioned, your funds will be disbursed in a matter of hours, ensuring they are available at moment’s notice for any emergencies such as medical payments.
- Lucrative Rate of Interest – YES BANK offers one of the best interest rates available in the industry starting at merely 10.70%.
- Easy to apply for personal loan online – You can easily apply for a personal loan using YES BANK’s online service, which is quick, easy to understand and only requires basic documentation.