Yes Bank Personal Loan Eligibility

Following are the features of Yes Bank Personal Loan:

Here is the list of documents required while applying for Personal Loan at Yes Bank:

• Loan application form
• Recent passport size photographs
• Statement of Bank Account for last 3 months as income proof
• Proof of residence - Any valid ID proof mentioning permanent address which is at least 1 year old
• Proof of identity - Voters ID card/ Passport/ Driving license/ Aadhaar card

Several factors can affect your Yes Bank personal loan eligibility, including the ones mentioned below:

• Location: The location of the residence of an applicant has an effect on the loan eligibility as it determines the minimum salary amount of the borrower and plays an important role in estimating the loan amount a borrower is eligible for. The minimum salary is higher in the cities and metropolitan cities like Mumbai.
• Income: The loan amount depends upon the income of the borrower. The higher the income the better loan amount you are eligible for. The income of a borrower reflects his repayment capacity of the loan.
• Company of employment: If a borrower is working in a reputed large company from more than a year, that indicates they have a stable job and income. The higher the rating of the company one works in, the better the loan interest rate is offered to the borrower.
• Existing credit: The existing loan or Credit Card bills and usage also play an important role as it reflects your creditworthiness and financial condition. These factors are considered while finding out the loan amount and interest rate for the borrower.
• Credit history: It is very lucrative to have a good credit history as your credit score is determined based on your past payment track records. It is one of the most important factors in determining the loan amount, interest rate, and tenure. If you have a bad credit history, your loan may get rejected directly.

At MyMoneyMantra, pre-screening of your application is done in order to suggest you the best lender that suits your eligibility and is willing to offer you the desired loan. This increases the chances of your loan getting approved. It also provides all the detailed information on the loan procedure and the eligibility criteria thus, preparing the applicant in advance so that the loan application is approved easily without any hassle.

The Personal Loan Eligibility Calculator at MyMoneyMantra helps the customer to know their exact EMI amount that they will need to repay the loan amount. This helps one to plan the expenses accordingly.

A Borrower can Use MyMoneyMantra's eligibility calculator to compare and calculate various loan offers, interest rates offered from various banks and financial institutions.

MyMoneyMantra Personal Loan EMI Calculator is very simple and eases you use. It helps the borrower to choose the best loan offer that meets the requirements. The Personal Loan EMI Calculator gives quick and accurate results.