YES Bank Personal Loan

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About Yes Bank

Yes Bank: one of the largest private sector banks in India has its presence throughout the length and breadth of the country. It is one of the Top & Fastest Growing Banks in various Indian Banking League Tables released by prestigious media houses and Global Advisory Firms. The bank has received several national and international honors for various businesses including Corporate Investment Banking, Treasury, Transaction Banking, and Sustainable practices through Responsible Banking. Yes Bank is steadily evolving as the Professionals? Bank of India.

Why apply for a Yes Bank Personal Loan

  • Meet wedding expenses
  • Home renovation
  • Medical expenses
  • Overseas travel
  • Start a new business
  • Meet unexpected financial crunch

Personal Loan Features & Benefits

  • The loan amount varies between Rs.1 lac and Rs.20 lacs
  • Guarantor/collateral not required
  • Flexible repayment options
  • Minimal documentation
  • Competitive interest rates

 

                                                                             

Yes Bank Personal Loan Fees & Charges

  1. Prepayment Charges: Part-prepayment is allowed only after completion of 6 EMIs whereas full prepayment can be done only after the repayment of 12 EMIs.

The bank levies a charge of

  • 4% on the principal outstanding amount if the loan is foreclosed within a period of 13-24 months from the date of disbursement of loan
  • 3% on the principal outstanding amount if the loan is foreclosed within a period of 25-36 months
  • 2% on the principal outstanding amount if the loan is foreclosed within a period of 37-48 months.

Post that, the bank allows foreclosure or prepayment of the loan at zero cost.

  1. No objection Certificate (NOC)/No Due Certificate issuance charges: Rs. 750/- 
  2. Duplicate No objection Certificate (NOC) charges: Rs.250/- 
  3. Late Payment charges: 24% per annum on the outstanding amount (calculated from the due date) 
  4. Stamp Duty and other Statutory charges: As per applicable charges in the state
  5. Cheque Swap charges:  Rs. 750/- for every cheque swap instance
  6. Cheque Bounce charges: Rs.750/-per instance of cheque dishonor
  7. Loan cancellation/Rebooking charges: Rs.1000+interest calculated at the date of cancellation to the date of the first disbursement 
  8. Account Statement charges: Rs. 750/- for every account statement that it issues
  9. Duplicate Repayment Schedule charges: Rs. 750/- for every duplicate repayment schedule that it issues 
  10. Legal and incidental charges: On actual basis

Other charges such as loan agreement and the sanction letter are also levied. Besides, service tax and other statutory taxes will be levied over and above these charges.

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Yes Bank Personal Loan Eligibility Criteria

 Particulars Basic Eligibility/Requirement
Net monthly salary Minimum 25,000/- 
Work Experience Atleast 6 months in current company
Total Employment Atleast 2 years
Number of years in Current Residence
  • Owned -No Condition
  • Parental Owned - No Condition
  • Rented - Minimum 2 yrs at current residence
ITR / Form 16 For last 2 financial years
Minimum Loan Amount 2 lacs

Documents Required for Yes Bank Personal Loan

  1. Duly signed application form
  2. 2 passport size photographs
  3. Copy of passport/ voter?s ID card/driving license
  4. Cheque for processing fee
  5. Last 3 months bank statement/6 months bank passbook
  6. Latest salary slip (for salaried individuals)
  7. Current salary certificate with the latest Form 16 (for salaried individuals)
  8. Latest Bank statement(for self-employed applicants)
  9. Latest ITR or Form 16(for self-employed applicants)

Other Available products from Yes Bank

  • Home loan
  • Home Loan Balance Transfer
  • Loan Against Property