Following are the key highlights of Yes Bank Instant Loan:
|Loan Amount||Rs. 1 Lakh - Rs. 40 Lakhs|
|Tenure||1 Year to 5 Years|
|Loan Processing Fee||Up to 2.50%% of the Loan amount|
|EMI Bounce Charges||750+ GST|
|Prepayment Charges||Up to 4% on principal outstanding + GST|
|EMI||Rs. 2,162 Per Lakh|
Also Check: Cibil score required for personal loan
Yes Bank Personal Loan is loaded with the following attractive features: Before you apply for Yes Bank Personal Loan, you must learn about the associated features and benefits of the product.
1. Unsecured Loan:To avail YES Bank Personal Loan, you do not require any loan security, collateral or guarantor. The loan is offered as a 100% unsecured loan.
2. Flexible Repayment: There is no fixed EMI schedule to follow. A borrower can use an online calculator and choose the repayment structure according to their repayment capacity. As a policy, Yes Bank offers Personal Loans on flexible repayment; you can choose loan tenure up to 5 years.
3. Approval in 60 Seconds: YES Bank claims instant in-principal approval of eligible applicants. You just need to fill the form online and instantly your application will be acknowledged for eligibility success.
4. Eligibility: A salaried or a self-employed person with a stable monthly income of Rs. 25,000 or more can apply for Yes Bank Personal Loan up to Rs. 40 Lakhs. The applicant needs to be a minimum of 21 years old or a maximum of 60 years on loan maturity. The documentation requirement is also limited to KYC, address and income verification.
5. Quick Loan Disbursal: The loan processing is as swift as it can get. Once your application is approved and you submit the required documents, loan disbursement will be processed within a few hours.
6. Attractive Interest Rates:With YES Bank as your lender, you can expect an attractive rate of interest on Personal Loans, starting at 10.75% p.a.
7. Minimal Documentation: You can apply for a Yes Bank Personal Loan online through our website; the process is quick, owing to the basic documentation requirement.
8. Balance Transfer Facility: Yes Bank facilitates affordable personal loan balance transfer at the lowest rate of interest.
9. Part Prepayment/Foreclosure Allowed: After successfully repaying 12 EMIs on your YES Bank Personal Loan,you can part prepay or foreclose your loan at a minimal charge.
Before you calculate Yes Bank Personal Loan EMI, you must know that you get complete flexibility to choose the loan tenure and monthly instalments. You can either opt for fixed EMIs or flexible ones, according to your budget. The longer is the tenure of the loan, the shorter would be the EMIs and vice versa. So, always choose EMI according to your repayment capacity.
To calculate Yes Bank Personal Loan EMI, you can access the Yes Bank Personal Loan EMI Calculator available on MyMoneyMantra under Financial Tools section.
Now fill in the required details: Loan Amount, Tenure, and Rate of Interest.
As you hit the ENTER button, you will instantly get:
You will also get a visual representation of the payments.
Additional Reading: Cibil score check free online by pan number
To be eligible for the loan, you must fulfil the following Yes Bank Personal Loan Eligibility Criteria:
|Employment type||Salaried & self-employed individuals having a stable source of monthly income.|
|Employment status||Must be employed/in business for at least 2 years with at least 1 year experience with current employer/business.|
|Income||Minimum Rs. 25,000 p.m. for salaried & Rs. 12 Lakhs gross annual receipts for self-employed.|
|Minimum age||21 years|
|Maximum age||65 years|
|Documentation||You must possess valid documentation for KYC & income verification.|
|Credit score||700 or above|
|Bank Name||Loan Amount||Tenure||Interest Rate (per annum)||Processing Fee|
|Yes Bank Personal Loan||Rs. 1 Lakh - Rs. 40 Lakhs||12 months - 60 months||10.99% onwards|
Up to 2.50% of the loan amount (minimum
Rs. 999) + taxes
|Axis Bank Personal Loan||Rs. 50,000 - Rs. 15 Lakhs||12 months - 60 months||12% - 21%||1.5% to 2% of the loan amount + GST|
|ICICI Bank Personal Loan||Up to Rs. 25 Lakhs||12 months - 72 months||10.5% - 19%||Up to 2.25% of the loan amount + GST|
|HDFC Personal Loan||Up to Rs. 40 Lakhs||Up to 5 years||10.50% - 21.00%||Up to 2.50% of the loan amount (minimum of Rs. 2,999 & maximum Rs. 25,000)|
|Citibank Personal Loan||Rs. 10,000 - Rs. 30 Lakhs||3 months - 60 months||9.99% - 16.49%||Up to 3% of the sanctioned loan amount + GST|
You can avail the best personal interest rate from Yes Bank based on the assessment of your loan amount, loan tenure, income, other obligation, and employer type.
Below are some factors that can help you get the personal loan rate of interest offer from Yes Bank:
Also Check: Credit Monitoring
Yes Bank’s Personal loan verification process involves the following steps:
Following factors affect Yes Bank Personal Loan interest rates are:
Yes Bank allows part prepayment of Personal Loan after successful payments of 12 EMIs and that too, in accordance with the applicable limit. You can part prepay 20% of the principal outstanding between 13 to 36 months of the loan duration, and 25% of principal outstanding between 37 to 60 months of the loan period. The prepayment would attract a fee of 2% of amount to be prepaid plus applicable taxes. Grab Info: Tax Benefit on Personal Loan.
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Interest rates offered by Yes Bank on Personal Loans are competitive and as per the profile of the customer. Several factors, such as credit score, credit repayment capacity, net income, and employment stability affect your interest rates.
Yes Bank Personal loans are available as unsecured loans up to Rs. 40 Lakhs. To know how much you can borrow, you can simply visit MyMoneyMantra and fill the personal loan application form. The Loan experts would instantly help you know about how much you can borrow with your current net income and credit score.
Yes Bank Personal Loans are available for 12 to 60 months. However, before you select the loan tenure, you must evaluate your repayment capacity. The longer is the tenure, the shorter is the EMI and vice versa. However, the cost of loan increases as you raise the loan for longer tenures. Depending on the availability of cash in hand, you must decide about the loan tenure.
Yes Bank allows part prepayment of a Personal Loan after successful payment of 12 EMIs. You can apply for part payment either online or by visiting the nearest branch.
Foreclosure or early payment of Yes Bank Personal Loan is permitted after the successful repayment of 12 EMIs. Please check the applicable charges shared above.
Yes, you can enhance your loan eligibility for Yes Bank Personal Loan by combining the income of your spouse with your income.
A credit score ranging from 700 - 900 is considered ideal for availing personal loans. However, you can avail loans with a lower score by paying a higher interest rate. Contact online MyMoneyMantra loan adviser to understand how to avail the best rate of interest with your credit profile.
After submitting all documents, Yes Bank will confirm its loan approval decision within 5 days of receiving your application.
Yes Bank allows you to foreclose your personal loan with applicable charges. If you had a good financial month or have some extra funds, you can choose to avail this service after paying 12 EMIs.
Yes. Part prepayment of personal loan is allowed by Yes Bank. Following are the terms of making part prepayment:
You can foreclosure of Yes Bank Personal Loan anytime after repayment of 12 EMIs. Following are the charges associated: