Personal Loan Apply Online16692 views
Apply for YES BANK personal loan at an attractive interest rate of 10.45% Onwards
The loan comes with simple documentation and flexible tenure options
Interest Cashback has been announced for borrowers who opted for Moratorium on Loans/Credit Card Payments as well as those who did not. It is applicable for the period of March 1 to August 31, 2020. The difference between the Compound Interest and Simple Interest for the said period based on the outstanding balance as on February 29, 2020, will be credited to your account (ex-gratia) as a cashback. Please note that this is NOT an INTEREST WAIVER.
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:
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
Table of Contents
- 1 About YES BANK Personal Loan
- 1.1 YES BANK Personal Loan Interest Rates December 2020
- 1.2 Criteria for Getting the Lowest YES BANK Personal Loan Interest Rate
- 1.3 YES BANK Limited Period Offer
- 1.4 Details on Maximum Personal Loan Amounts
- 1.5 FOIR Used by YES BANK to Assess Personal Loan Eligibility
- 1.6 Eligibility Criteria for YES BANK Personal Loan
- 1.7 YES BANK Personal Loan Documents Required
- 1.8 YES BANK Personal Loan Calculator
- 1.9 YES BANK Personal Loan Application Status Check Online
- 1.10 YES BANK Personal Loan Preclosure Charges
- 1.11 YES BANK Personal Loan Customer Care Number
- 1.12 Features of YES BANK Personal Loan
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!
YES BANK Personal Loan Interest Rates December 2020
|Interest Rates||10.45% Onwards|
|Loan Amount||INR 1 lakh - INR 50 lakh|
|Processing Fee||INR 9,999|
|Pre Partpayment Charges||1% on part payment amount paid|
|Minimum Monthly Income||INR 25,000|
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
YES BANK offers the lowest rate of 10.45% to customers on fulfilling the following conditions –
- The minimum monthly salary of the applicant should be INR 75,000
- He/she must be working in a CAT A company
- The loan amount should be INR 7,50,000 and above
YES BANK Limited Period Offer
YES BANK is running an limited period offer wherein it offers both fresh personal loan and balance transfer at attractive interest rates.
Ultra EDGE – Eligible customers will get an interest rate of 10.45% per annum for fresh and balance transfer cases.
PL WINBACK – Liability and Asset Relationship customers of YES BANK Limited can get an interest rate of 10.75% p.a.
Other Bank Employees – 10.75%
Salaried Doctors – 10.75% for both fresh and balance transfer cases
Employees Belonging to Pharma Segment – 10.75% for both fresh and balance transfer cases
YBL Staff Offer – 10.75% for fresh and balance transfer cases. The minimum net monthly income should be INR 30,000 to grab such an offer.
All other balance transfer offers will start from 10.75%
NIL FC Offer for ULTRA EDGE and GOLDEN EDGE Segments
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.
|Personal Loan Variants||Monthly Income||FOIR|
|Platinum/Diamond/Sarkaar/Guru/Gold Plus/Vijay||Less than INR 35,000|
Greater than INR 35,000
|Gold/Silver Plus||Less than INR 35,000|
Greater than INR 35,000
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 INR 25,000/INR 30,000/INR 35000 (basis on the location and the profile of the customer)
- Other monthly expenses, including any current EMI :- 55% to 65% (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:- Bank statements with 6 months salary credit and Salary slips of the last 3 months
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|
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+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.
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 72 months. You can choose the tenure according to your repayment capacity and monthly income. The repayment can be made via the easy monthly installments. 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. There is one thing to remember though, that you can only part pay upto 20% of the principal outstanding before tenure. You will need to pay the remaining amount as per the fixed schedule. Charges will apply at 1% of the part payment amount.
- 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 10.45%.
- 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.