Yes Bank Personal Loan Eligibility

Apply now for Yes Bank Personal Loan and get a loan up to Rs. 40 Lakhs at interest rate starting from 10.99% and up to 2.50% processing fee. You can make repayment in tenure of up to 60 months.

Documents Required for 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

Features of Yes Bank Personal Loan

Following are the features of Yes Bank Personal Loan:

Loan quantumRs. 1 Lakh - Rs. 40 Lakhs
Interest rate 10.99% - 16.99% p.a.
Repayment tenure 12 - 60 months
Lowest EMI Rs. 2,174 Per Lakh
Processing feesUp to 2.50% of the loan amount (minimum Rs. 999) + applicable taxes

Yes Bank Personal Loan Eligibility

Eligibility CriteriaSalaried IndividualsSelf-employed Individuals
ProfessionSalaried persons working in government, private or multinational companiesProfessionals like Doctors, CA, CS, Architects
Applicant Age21 - 60 years25 - 65 years
Minimum Eligible IncomeRs. 18,000 per monthRs. 12 Lakhs gross annual receipts
Maximum Loan AmountRs. 40 LakhsRs. 40 Lakhs
Minimum Work Experience24 months with 6 months at current organization36 months

Factors Affecting Yes Bank Personal Loan Eligibility

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.

Why Apply for a Personal Loan through MyMoneyMantra

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.

MyMoneyMantra Personal Loan Eligibility Calculator

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. 

Kotak Personal Loan Festival Offer 

Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years. 

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Yes Bank Personal Loan Eligibility FAQs

What are the eligibility criteria to avail the Personal Loan from Yes Bank?

The minimum age criteria for the applicant required to get a Personal Loan from Yes Bank is 21 years. The maximum age for salaried employees is up to 60 years.

How can an individual increase the loan amount of Personal Loan from Yes Bank?

An individual can use the top up loan allowed by the Yes Bank to increase the loan amount. It is necessary to have a good payment track record and repayment history to avail the top up loan. 

What is the minimum net monthly income required of the applicant to get Yes Bank Personal Loan?

The minimum income of the applicant (salaried employee) should be Rs. 18,000 per month.

How to get the Personal Loan from the Yes Bank quickly?

It is recommended to check the Yes Bank Personal Loan Eligibility Criteria online before applying for the Personal Loan. All the information is available on the official website of the Yes Bank and MyMoneyMantra. 

Can an NRI get Yes Bank Personal Loan?

Yes, but with the help of a local co-applicant.

What is the maximum Personal Loan amount a borrower can apply for?

The maximum loan amount a borrower can apply for the Personal Loan from Yes Bank is up to Rs. 40 Lakhs.

Is there any processing fee charged by Yes Bank on the Personal Loan?

Yes, a processing fee of up to 2.50% of the loan amount of the loan amount subject to a minimum of Rs. 999 plus taxes is charged by Yes Bank on the Personal Loan.

Does the CIBIL Score have an effect on my Personal Loan from Yes Bank?

Yes, CIBIL Score does have an impact on your Personal Loan. A good score means the good repayment record, credit discipline, and is considered as an ideal customer. The chances of getting your Personal Loan approved are high if you have a good credit score.The minimum CIBIL score for the personal score is 700 and above. Most of the banks avoid giving loans if the applicant has a low credit score.