Personal loans offered by Yes Bank can be used for covering any type of financial expense including paying medical bills, getting married, going on a vacation, renovating your home, etc. A personal loan of upto Rs. 50 lakh can be availed by the individuals meeting the eligibility criteria of Yes Bank. Also, Yes Bank Personal Loan can easily be repaid within flexible tenure ranging from 12 to 60 months.
Yes Bank Personal Loan Eligibility Criteria
- You should either be a salaried professional or a self- employed individual
- You should be at least 22 years old and your maximum age should be 60 years
- You must have stayed at the current place of residence, own or rented, for at least past 1 year
- You must be working with the current employer for a minimum of 6 months
- Your minimum monthly income should be Rs. 18,000 or above
Yes Bank Personal Loan- Eligibility Calculator
If you are unsure about your eligibility regarding Yes Bank Personal Loan, you can visit Paisabazaar’s Personal Loan Eligibility Calculator, which is an online tool and lets you know your eligibility just after completing a few steps. All you need to do is to fill some mandatory information.
How to Improve Your Yes Bank Personal Loan Eligibility?
- Keep a check on your credit score: A credit score that tells a lot about your financial behavior and past repayments plays an important role in boosting your personal loan eligibility. Therefore, higher the credit score, more eligible you would be for a personal loan
- Go for a longer tenure: If you choose a longer tenure, the lender tends to believe that you have the ability to repay the loan in the long run and hence selecting a longer tenure might boosts your eligibility
- Pay your credit card bills on time: Paying the credit card bills and EMIs on time is one habit that everyone should follow as being disciplined with the repayments increases your eligibility
Frequently Asked Questions
Q1. I have no prior relationship with Yes Bank. Can I get a personal loan from them?
Yes, you need not have a pre-existing relationship with Yes Bank to avail a personal loan from them. However, having a pre-existing relationship can help increase your chances of securing a personal loan as well as avail various value added services complementary to the loan.
Q2. I am a salaried individual with a monthly income of Rs. 22,000. Can a get a personal loan from Yes Bank?
Yes, you can provided you meet Yes Bank’s other personal loan eligibility criteria.
Q3. Do I need a collateral to get a personal loan from Yes Bank?
No. No collateral is required to secure a personal loan from Yes Bank.
Q4. What are the key factors that affect my Yes Bank personal loan eligibility?
Some key factors that influence your ability to secure a personal loan from Yes Bank are your :
- Monthly income/ income stability
- Credit history and credit score
- Pre-existing EMIs and recurring expenses
- Stable employment history/ business stability
- Time spent living at the current residence
- Prior relationship with the bank, etc.
Q5. Can I check my Yes Bank Personal Loan eligibility online?
You can visit Paisabazaar.com and make use of the personal loan eligibility calculator to know your eligibility for Yes Bank personal loan online.