YES BANK Personal Loan

Highlights

  • Apply for YES BANK personal loan at an attractive interest rate of 10.75% - 17.00%

  • The loan comes with simple documentation and flexible tenure options

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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    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 September 2020

    ParticularsDetails
    Interest Rates10.75% - 17.00%
    Loan AmountINR 2 lakh - INR 30 lakh
    Repayment60 months
    Processing FeeUp to 2.50% of the loan amount subject to a minimum of INR 999 + taxes
    Foreclosure ChargesNIL-4% of the principal outstanding
    Pre Partpayment Charges1% on part payment amount paid
    Minimum Monthly IncomeINR 25,000

    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 VariantsMaximum Loan Amount
    PlatinumINR 15 Lakh
    Personal PlusINR 20 Lakh
    Diamond Plus, DiamondINR 15 Lakh
    Gold, Gold Plus and Silver PlusINR 10 Lakh
    Sarkaar, Guru and VijayINR 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 VariantsMonthly IncomeFOIR
    Platinum/Diamond/Sarkaar/Guru/Gold Plus/VijayLess than INR 35,000
    Greater than INR 35,000
    60%
    65%
    Gold/Silver PlusLess than INR 35,000
    Greater than INR 35,000
    55%
    60%

    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 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

    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 10.75%.
    • 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.

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