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Documents Required for Yes Bank Personal Loan
Yes Bank usually requires its personal loan applicants to submit the following documents:
- Duly filled application form with passport-sized photographs
- Identity Proofs: Valid government-issued photo ID, such as passport, Aadhaar card, or driver’s license.
- Address Proof: Recent Utility bills (Water, Gas, Electricity), rental agreement, or other documents
- Income Proof: Latest 3 months’ salary slips and recent bank statements
Yes Bank may also ask its personal loan applicants to furnish additional documents apart from the ones mentioned above.
FAQs
1. Are any additional documents needed to apply for Yes Bank personal loan apart from the ones mentioned above?
Ans. Yes, Yes Bank may require applicants to provide additional documents as deemed necessary depending on their individual applicant profile and the personal loan variant that they are applying for.
2. Is it possible to get a personal loan from Yes Bank without documents?
Ans. Yes, in case you have a pre-approved or instant personal loan offer from Yes Bank you may be able to avail a personal loan with minimal or no documentation.
3. Why are pre-approved or instant personal loans offered with minimal or no documentation?
Ans. Pre-approved or instant personal loans are offered by banks to their existing customers whose KYC details already exist in their database. Additionally, these loans are offered to customers on the basis of their income and repayment history, credit score/history, employment status, etc. and thus, do not usually require submission of additional documentation.
4. Are my original KYC documents needed to apply for a Yes Bank personal loan?
Ans. No, generally only self-attested copies of your KYC documents are needed to apply for a personal loan from Yes Bank. However, you keep your original documents handy in case Yes Bank needs to verify the copies with original documents.
5. How long does Yes Bank take to approve personal loans once the documentation is completed?
Ans. Once the documentation has been completed as per Yes Bank’s policy norms, the bank confirms its appraisal decision within 5 days of receipt of the application.