Yes Bank Personal Loan Interest Rate
Interest Rate

Starting @ 10.99%

Check Best Offers
Processing Fee

Upto 1.25%

Loan Tenure

1-5 years

Lowest EMI Per Lakh

₹ 2,174 for 5 years

Prepayment Charges

Nil charges for floating rates loans

check your eligibility

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Yes Bank Personal Loan Interest Rate

Are you looking for a Personal Loan from Yes Bank? Well, here is all you need to know about Yes Bank Personal Loan to make a well-informed choice.

Yes Bank offers its customers Personal Loans, which range from 1 Lakh up to 25 Lakhs at the most competitive interest rates. The tenure ranges from 12 months to 60 months.

Such a long tenure range ensures that you get to choose the period over which you wish to repay the loan amount as per your comfort and ease.

Applying for a Yes Bank Personal Loan

Personal Loans are the best way to raise funds immediately as they are readily and easily available. To avail a Personal Loan you are advised to follow some basic steps:

  • Assess Your Requirement:Firstly calculate the amount of money you need as a loan and plan how you intend to repay it. So, make sure that you analyse your resources to choose the amount of equated monthly instalments (EMIs) that you would like to pay monthly.

  • Know Your Eligibility Instantly: Now Personal Loan eligibility can be computed within a few seconds by using the tools available online.

  • Complete the Application Process: In order to apply for a Personal Loan, you need to fill out the application form that is available on the Yes Bank website. You can also visit the nearest bank branch to complete the Application process for Personal Loanin person or apply through MyMoneyMantra.

To add to your convenience and ease in banking, Yes Bank provides you with doorstep banking services. Hence, for Personal Loans, a representative from Yes Bank will visit your doorstep to complete the formalities and documentation.

Yes Bank Personal Loan Interest Rates and Key Details

You can take Yes Bank Personal Loan and use it for an array of purposes like travel, education, medical, and other personal finance requirements. Yes Bank does not allow speculative use of Personal Loans.

Yes Bank Personal Loan is available for both salaried and self-employed borrowers. One can borrow a Personal Loan amount of minimum 1 Lakh to maximum 25 Lakhs depending upon the category they fall under.

  Salaried Borrowers Self Employed Borrowers

Interest Rate

10.75% - 18%

10.75% - 18%

Loan Tenure

12 to 60 months

12 to 60 months

Loan Amount

1 Lakh to 25 Lakhs

1 Lakh to 25 Lakhs

Processing Fee

Up to 2.5% of the loan amount (minimum 999)

Up to 2.5% of the loan amount (minimum 999)

Lowest EMI

2162/ Lakh

2162/ Lakh

Age

21 to 60 years

25 to 65 years

Prepayment

Prepayment is possible after 12 EMIs at no charges

Prepayment is possible after 12 EMIs at no charges

Foreclosure Charges

Foreclosure is allowed after 12 EMIs with up to 4% charges

Foreclosure is allowed after 12 EMIs with up to 4% charges

  • Other Charges:Delayed EMI payment charges, EMI bounce charges, loan cancellation charges are disclosed by Yes Bank at the time of signing the loan agreement.

  • Special Schemes: Yes Bank offers customised Personal Loan interest rates and schemes for a special category of customers including borrowers working in reputed companies, banks or government employees and so on.

  • Yes Bank Personal Loan Top Up: Top Up on Personal Loan is nothing but an additional loan that you can avail from your existing bank on your existing loan or at the time of balance transfer of your loan to a new bank. You can easily get a top up on your Personal Loan from Yes Bank if you have a regular repayment record on your existing loan. Top up loan is available at similar interest rate as the existing rates. The current interest rate on Yes Bank Personal Loan top up starts at 10.75%.

Factors Affecting Yes Bank Personal Loan Interest Rate

The following factors determine the Personal Loan rate of interest you can expect to get from Yes Bank and this will help you in systematic planning of your finances.

  • Loan Amount: It is the amount borrowed by a customer from the bank. Usually, the banks offer a lower interest rate for a higher amount. Yes Bank offers Personal Loan between 1 Lakh and 25 Lakhs.

  • Salary: Your earnings and income define your eligibility to repay the loan. Usually, a higher salary bracket individual is offered a loan at a lower interest rate. Interest rates of the bank differ on the basis of your net monthly income.

  • Employer Category: Yes Bank maintains an internal list of companies that fall into categories that are ranked from high to low company categories based on company's reputation, size, and its existing relationship with the bank. Employees who belong to companies in reputed categories get the best discounts and a low interest rate.
  • Relationship with the Bank: Yes Bank offers some special rates, offers and charges to its existing account holders. Those customers who have managed their accounts well and made all the payments timely in the past will get the benefit of low interest rates and better discounts on the loans availed from Yes Bank.

  • Loan Tenure: Personal Loans are of a shorter period, usually ranging from 12 months to 60 months as they are taken to meet the immediate and urgent requirements. Usually, longer tenure attracts a higher interest rate.

  • Repayment Capacity: Yes Bank checks and verifies the repayment capacity of the borrower before lending any loans. This is done through CIBIL as it has the repayment track record of previous loans taken and Credit Card bills payment.

Yes Bank Personal Loan: How to Apply on MyMoneyMantra

In case, you plan to get a loan from Yes Bank the process is easy. All you need to do is apply for a Personal Loan at MyMoneyMantra.

The loan application will be processed online and Yes Bank's representative will get in touch with you immediately to take the loan process ahead. You will get free services of MyMoneyMantra's Personal Loan advisor who will make sure that the lending process is quick and you get the best suitable Personal Loan from Yes Bank.

Documents Required for Yes Bank Personal Loan

  • Identity Proof
  • Age Proof
  • Residence Proof
  • Proof of Signature
  • Last 3 months' salary slips
  • IT Returns for the last 2 years
  • Last 6 months' Bank Statement of salary account

Yes Bank Personal Loan Charges

In addition to Yes Bank's Personal Loan interest rate, you need to compare other charges on the bank's Personal Loan before you take a decision to borrow from the bank.

  • Pre-closure Charges: The charges to be paid in case you want to repay your entire loan amount before the completion of the loan tenure. Yes Bank allows pre-closure of Personal Loan after 12 EMIs at a charge of up to 4%.

  • Processing Fee: Yes Bank charges a non-refundable processing fee of up to 2.5% of loan amount with applicable tax.

  • Other Charges: As soon as the loan application is sanctioned, Yes Bank will provide you a statement of other charges applicable on your Personal Loan account. Some of these include interest charged on late payments, EMI cheque bounce charges, loan cancellation charges, and so on.

Benefits of Taking Personal Loan from Yes Bank

Yes Bank Personal Loans are popular among our customers due to their benefits, which include:

  • Unsecured Loans: Where in you are not required to give any security or guarantor when taking a Personal Loan from Yes Bank.

  • Flexible Repayment Options: You can choose the tenure or the period of your loan. With a Personal Loan EMI calculatorfacility, you can easily determine the EMI you would be required to pay and also choose a repayment schedule that suits you the best.

  • Quick Disbursal of Funds: As soon as your application for a Personal Loan gets processed then your funds get disbursed within a matter of few hours.

  • Attractive Interest Rates: Yes Bank Personal Loan interest rates are among the best in the industry, which starts at 10.75%.
  • Easy Application Process: The process of application for a Personal Loan is easily accessible online with only basic documentation.

  • Easy Transfer of Your Existing Loan: Yes Bank has an option to transfer your high cost Personal Loans with at a low interest rate. You can also avail additional funds during the process at the existing interest rates.

  • Part Pre-Payment Option Available: In case you have some funds available with you then you can also choose to pre-pay a part of your Yes Bank Personal Loan post 12 EMIs.

  • Offers for Existing Customers: Yes Bank has several offers on Personal Loans for existing account holders. It also offers special schemes, offers, and discounts for employees of large companies.

Frequently Asked Questions on Yes Bank Personal Loan Interest Rates

Why should I apply for a Personal Loan from Yes Bank?

Ans - Unlike other banks, Yes Bank offers loan at 10.75% interest rate combined with the lowest EMI of 2,162 per Lakh. Therefore, if you are paying an EMI more than this amount then you can opt for balance transfer and relocate your loan to Yes Bank.

How much interest rate is charged by Yes Bank on Personal Loans?

Ans - The interest rates in Yes Bank ranges from 10.75% to 18% in case of Personal Loans.

What is the minimum and maximum period or tenure of Personal Loan in Yes Bank?

Ans -With regard to Yes Bank, you can repay your Personal Loan in a flexible time period of minimum 12 months to maximum 60 months.

How much Personal Loan amount can I avail from Yes Bank?

Ans -Yes Bank offers you a loan with a minimum amount of 1 Lakh to a maximum amount of 25 Lakhs.

Does Yes Bank Allow Part-prepayment of the Personal Loan?

Ans - Yes, you can opt for part-prepayment of your Yes Bank Personal Loan. However, this facility can be availed only after the payment of 12 EMIs.

Is age an eligibility factor to get Personal Loans from Yes Bank?

Ans -Yes, age is a vital factor to check the eligibility of a customer to get a Personal Loan. You need to be at least 21 years old at loan approval time and 60 years old at loan maturity time.

Do I need a guarantor to get Yes Bank Personal Loan?

Ans - No, you don't have to bring a guarantor for Yes Bank Personal Loan.

Can I add my spouse's income to mine while applying for Personal Loan from Yes Bank?

Ans - Yes Bank allows you to combine your income along with your spouse's income so that you increase your loan eligibility and get a higher loan amount.

Yes Bank Personal Loan Interest Rate News

2018-11-27 :RBI looks into Yes Bank loan exposure to IL&FS, DHFL, and NBFCs

Yes Bank had disclosed an exposure of 2,600 Crore to the entities that are connected with the troubled Infrastructure Leasing and Financial Services Ltd (IL&FS) group in the result of second quarter 2018-19. RBI is trying to see the interconnection between Yes Bank and NBFCs against a backdrop of the Infrastructure Leasing and Financial Services Ltd (IL&FS).

2018-10-26 :Yes Bank reports Q2 net profit declines by 4%

On 26th Oct 2018, Yes Bank had reported a decline of 3.8% in its net profit to 964 Crores for September quarter because of the one-time hot on mark-to-market provisioning on corporate bonds. Yes Bank declared that it had an exposure of 2,620 Crores to the troubled Infrastructure Leasing & Financial Services Ltd (IL&FS) group on September 2018 and cleared that these accounts are all standard and all the exposures are at the lower special purpose vehicles (SPVs) and not at the upper IL&FS holding company levels.

2018-07-27 : Yes Bank Q1 profit jumps by 31%

Yes Bank has announced its Q1 result and we can see the net profit is increased by 31% to 1,260 Crores against 965 Crores last year. The Gross Non-Performing Asset (NPA) increased by 8% quarter-on-quarter, though the asset quality weakened. The Non-Performing Assets (NPA) declined by 4% to 1,262 Crores quarter-on-quarter.

2018-07-03: Yes Bank revises MCLR by up to 15 bps

Yes Bank has revised its MCLR for the month of July and presently one month MLCR is 8.60%, which is slashed by 15 basis point. The new rates are in the range of 8.20% and 9.45%. Six month MCLR is 9.30% and that of annual is 9.45%,. The new rates are effective from 1st of July 2018.

2018-06-29: Yes Bank ties up with Kerala start-up Mission

The Kerala start-up mission and Yes Bank are joining hands in order to provide corporate and commercial banking services. Their main goal is to develop the entrepreneurship and incubation activities in the state of Kerala. Yes Bank also offers credit facility up to 1 Crore through the Credit Guarantee Scheme for Stand Up India (CGSSI) under a guarantee that is given by the center.

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