Yes Bank offers personal loans up to Rs. 40 lakh at attractive low interest rates starting at 10.99% p.a. These unsecured loans come with flexible repayment tenure of up to 60 months, are disbursed quickly and require minimal documentation. The following sections discuss key details related to the personal loan documentation of Yes Bank.
Yes Bank Personal Loan Documents Required
The following are the key documents required to avail a personal loan from Yes Bank:
- Duly filled out Yes Bank personal loan application form
- PAN (Permanent Account Number) copy (mandatory)
- Proof of Identity: Passport, Aadhaar, Driving License, Voter ID, etc.
- Address Proof: Aadhaar, Voter ID, Driving License, Latest Utility Bill, etc.
- Proof of Income: Latest 3 months’ salary slips
Follow the tips given below to increase your chances of approval for a Yes Bank personal loan:
- Maintain a good credit score. It indicates higher credit-worthiness and better repayment capacity and thus, helps increase the chances of approval of your personal loan
- Knowing and meeting the lender’s eligibility criteria takes you a step closer to securing a personal loan from the lender
- Having a steady job and stable employment history with a reputed employer indicates personal and financial stability which increase your chances of approval for a personal loan
- Avoid making multiple simultaneous loan enquiries/applications with several lenders. This may lead to an increase in the number of hard enquiries for your credit report, which may affect your credit score adversely and decrease the chances of approval of your personal loan
- Maintaina low credit utilization ratio (ideally 30% or lower). Credit utilisation ratio is calculated by dividing the total amount of credit availed by the total available credit limit across all credit accounts. A lower credit utilisation ratio indicates higher credit worthiness which can help you avail additional credit easily
Q1. What is the interest rate charged by Yes Bank on a personal loan?
Yes Bank personal loan interest rate starts at 10.99% p.a. The actual interest rate offered by the bank to a borrower however depends on various factors like his/her credit score, age, repayment history, etc.
Q2. What is the maximum loan amount that can be availed on a personal loan from Yes Bank?
The maximum loan amount that can be availed on a Yes Bank personal loan is Rs. 40 lakh.
Q3. What is the tenure to repay Yes Bank personal loan?
The tenure to repay Yes Bank personal loan varies from 12 to 60 months.
Q4. Can I foreclose my Yes Bank personal loan?
You can foreclose your Yes Bank personal loan any time after the payment of 12 EMIs along with applicable loan foreclosure charges.
Q5. How long does Yes Bank take to approve personal loans?
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.
Q6. Is part-prepayment facility available on Yes Bank personal loans?
Yes, you can part-prepay your Yes Bank personal loan after 12 EMIs subject to applicable terms and charges.
Q7. How do I get in touch with Yes Bank customer care?
You can get in touch with the bank’s customer care via any of the following means given below:
|Toll Free Number||1800 2000|
|Alternate Customer Service Number||+91 22 6121 9000|
|SMS||SMS ‘HELP’ space <CUST ID> to +91 92233 90909|
|Missed Call (using mobile number registered with bank)||+91 92233 90909|
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